Replies to post #58839 on Aisystems, Inc. (fka ASYI)

[Keech63]

Speaking of "going public" Per the most recent ASYI 10-k:

Exchange Right Agreement

In January 2011, the Company and Merus Capital I, L.P. (“Merus”) entered into an exchange right agreement (the “Agreement”), whereby Merus provided funding to the Company in exchange for, amongst other things, a right in liquidation for Merus to exchange common stock held by Merus at the time of the conversion (“Merus Securities”) into an unsecured promissory note with aggregate principle up to $5,000,000 paying interest at a rate of 5.00% per annum. The term of the Agreement is the earlier of: (i) 36 months following a Going Public Transaction (as defined in the Agreement); (ii) Merus receiving the Note after exercising their rights under the Agreement; and (iii) Merus transferring any of the Merus Securities without the prior authorization of the Company. Management has reviewed the terms of the exchange right agreement and has determined that permanent equity classification is appropriate because all conditions under which the exchange right could be enforced are solely within the control of the Company.

A "going public transaction"? What could they possibly be referring to? Merus Capital gave ASYI 5M in January of 2011. It was in 2011 that all this hijinks with the Jet Engine software began. We know now that several board members have been involved with Aero-IQ since its inception ;so could this be the "going public transaction" they were alluding to in the 10-k?
In both the Merus Capital Blog and In the Big Sky Partners Portfolio, Aero-IQ clearly states:

Aero IQ, Inc. develops world class software solutions for the airline and travel industry with a specific focus on solving complex scheduling and logistical problems due to our patented technologies in the area of Type III systems theory. The Company has global distribution for its product set which is being deployed into major airlines in late 2012.

Why wait until late 2012? The Aero-IQ domain was created by Steve Johnston former CEO of ASYI in September of 2011, the product was already in existence and had even been beta tested by two airlines....So what is so significant about rolling this out in 2012?

And as you pointed out Lecorb, Big Sky Partners LLC, headed by Michael Schwab, son of Charles Schwab, lists ASYI as one of its investments per:
http://pseps.com/company/Big-Sky-Partners-LLC. Seems to me we may have a beautiful surprise ahead.

Something to ponder...