IMO both links are bogus, here's some true history for you, IMO just a little DD and anyone can find the truth.
from mar 16 2012 8K
On March 15, 2012, David Greenberg, Steven Frankel and James Beatty each resigned from their positions as members of the board of directors of AISystems, Inc. (the “Company”).
On March 13, 2012 a majority of the board of directors of the Company approved the divesture of the Company’s subsidiary, Airline Intelligence Systems Inc.
On April 20, 2012, Jeff Robinson resigned from his position as director and Chairman of the Board of the Company. The resignation was not as a result of any dispute with the Company, its Officers, or Board of Directors.
from 10 K may 17th 2012
On September 16, 2011 Mr. Stephen C. Johnston resigned from the Company’s Board of Directors.
On September 23, 2011, Mr. Johnston resigned as President and Chief Executive Officer of the Company.
from 10K/A may 18th 2012
On October 14, 2011 AIS terminated all of its remaining employees except for its CEO/CFO as it was unable to meet payroll commitments. Based on the notice of termination on October 14, 2011, AIS is responsible for approximately $50,000 in severance payments by virtue of employment agreements with 4 key employees that provide for one month salary in lieu of notice requirements. However, none of the effected employees have made any claims against the Company or AIS to date and the Company believes that such potential claims are not likely.
NO OFFICE LEASE IN KIRKLAND, WASHINGTON, AND TORONTO,ONTARIO. no office in USA or Canada
(A) Lease obligations
The Company previously leased office space in Kirkland, Washington (to April 2011), Bellevue, Washington (to May 2011), and Toronto, Ontario. Total lease expense was $101,431 and $780,870 for the years ended December 31, 2011 and 2010, respectively. In April 2011, the Company terminated its Kirkland lease and agreed to a settlement amount of $180,000 payable in monthly installments over a 36 payment period starting in July 2011. The Company is currently in default under the conditions of this settlement agreement.
On November 9, 2011, the Company entered into an agreement with a third party (with the consent of the landlord) to assign its rights relating to its Toronto office lease for the remaining term through May 2014 at the same monthly rate of approximately $7,810 per month. The assignment provides that, in the event that the third party is unable to meet the rent obligations, the Company will continue to be responsible for the amounts due under the original lease (aggregating $226,478 at December 31, 2011).
from final 10Q may 21th 2012: bits and pieces:
8. Discontinued Operations (Looks and sounds like out of business to me)
On March 13, 2012, the Company divested its subsidiary AIS pursuant to a Stock Transfer Agreement (the “STA”) with Rocmar Farms Limited (“Rocmar”). The STA provided for the Company’s delivery of all of its AIS shares to Rocmar in exchange for the Company’s delivery of a promissory note payable to Rocmar in the amount of $100,000. The STA also provided that the Company agreed to be responsible for certain liabilities (approximately $3,130,000 of notes and loans payable, including approximately $1,976,000 due to the controlling stockholder of the Company, and approximately $2,004,000 of accrued compensation) of AIS.
HISTORY:
On September 23, 2011, the Board appointed Mr. David Haines to serve as Chief Executive Officer and Chief Financial Officer on an interim basis.
On October 14th, 2011, except for our CEO/CFO, AIS terminated all of its remaining employees as it was unable to meet payroll commitments.
On November 9, 2011, the Company entered into an agreement to assign its last remaining office lease commitment to a third party, and is looking for purchasers of various non-core assets in an attempt to raise capital in order to satisfy its commitments. At that point the Company was focused on maintaining low operating costs, examining avenues to reduce its debt load and pursuing other business opportunities.
On March 23, 2012 the board of directors of the Company approved the appointment of Jeff Coe as the Chief Operating Officer of the Company. Jeff Coe has not entered into an employment agreement with the Company
On April 20, 2012, the Board of Directors of the Company appointed James Beatty to serve on the Company’s Board of Directors.
end.
Still looking to see when Gary Clifford was terminated.
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