Gooddolphin,
I'm not sure what you mean there....I know only what the company tells us, info from the SEC filings, and researching the Lowe brothers' previous history in the outdoor sports industry.
Mike Lowe was originally brought on in 1998 as COO to assist in the turnaround for the company and then on to manage Agression Sports(dba Arete Outdoors)and develop products for it, then an agreement was made in 1999 to exchange 30% of Arete Outdoors for his participation and future product designs.
Which, led me to my question regarding the latest filing...it states:
"With a view toward maximizing the developed Rush and SnowFangs snowshoe and several other products we have taken steps to cease incurring further costs and the process of seeking other investors/partners. Part of this process included terminating our existing arrangements with Michael Lowe subsequent to the end of the first quarter. We are also seeking outside buyers or strategic partners to continue marketing and development of our products, including the Rush and SnowFangs snowshoe. Patent applications have been filed on the Rush and SnowFangs. We will examine the benefits of seeking patent protection of the other products."
The report also states that Arete Outdoors has "0" employees. I'm wondering if this means that Mike Lowe is no longer President of Arete Outdoors? And does he still have ownership in it? It isn't clear to me in the filing or maybe I missed it somewhere along the reading. What's your take on it? I will probably e-mail investor relations later if no one else is clear on this either. Just trying to catch up with everything.
Wys
WYS
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