Replies to post #37802 on Aisystems, Inc. (fka ASYI)

[apprenante]

only way it could extend pas July 19, 2012? Remember BSC?:-D

On December 9, 2011, AISystems, Inc. (the "Company") entered into a letter of intent with Birthday Slam Corporation, an Ontario Corporation ("BSC") (the "Letter of Intent"). Pursuant to the Letter of Intent, BSC and the Company will commence the negotiation and preparation of a share exchange agreement whereby we will acquire 100% of the shares of BSC for a certain number of shares of the Company's common stock. The Letter of Intent may be terminated at the earlier of: (a) mutual written consent of both the Company and BSC, or (b) at 5:00 pm EST on January 15, 2012.

Here is a link to the 8K, which is the source of this text:
http://biz.yahoo.com/e/111214/asyi.ob8-k_a.html

More than THREE months AFTER the January 15 "termination date,"

Termination of Birthday Slam Corporation Letter of Intent
On April 19, 2012 AISystems, Inc. (the "Company") terminated the Letter of Intent executed with Birthday Slam Corporation. The Letter of Intent with Birthday Slam Corporation was executed on December 9, 2011and was reported on December 13, 2011 in the Company's Current Report on Form 8-K.

Execution of Letter of Intent with Kool Telecom Ltd.
On April 19, 2012, the Company entered into a letter of intent with Kool Telecom Ltd. ("Kool") (the "Letter of Intent"). Pursuant to the Letter of Intent, Kool and the Company will commence the negotiation and preparation of a share exchange agreement whereby we will acquire 100% of the shares of Kool for a certain number of shares of the Company's common stock. The Letter of Intent may be terminated at the earlier of: (a) mutual written consent of both the Company and Kool, or (b) at 5:00 pm EST on July 19, 2012.

Here is a link to the second 8K:
http://biz.yahoo.com/e/120420/asyi8-k.html

According to Power of Emouna,

The only way it could extend pas July 19, 2012 @ 5pm is, if they amend to the original agreement. Otherwise, it will automatically expire by July 19 @ 5pm.

Did anyone -- anyone at all -- see an 8K amending the original agreement to extend the first agreement past January? I certainly did not see such an amendment.

It seems obvious that his high expectations of ASYI's management are sadly misplaced. It also seems reasonable to believe that retail investors in ASYI could easily wait 3 or 4 months AFTER the July 14 deadline before "something" happens (possibly a rescission of the Kool LOI and yet another "candidate" for a reverse merger.

[WarMachine]

Exactly. And the LOI has no bearing on the acquisition completion. It could be done already and on the verge of being released to the public or it may never happen. The LOI gets the companies to the point of looking at the inner workings and financials of each other and locks out any possible suitors until the LOI expires or a deal is finalized. July 19 really isn't that important with a PPS this low.

If the deal collapses the price won't fall far but buying here could still net people a 100% loss. Just because it's cheap doesn't take any risk away. The upside is totally unknown since we little people don't have enough verifiable info on KoolTel.