We were introduced to AVIC in 2009, not 2007. We'r
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Posted On: 08/03/2017 9:03:15 AM
Re: kmmohr1960 #19488
We were introduced to AVIC in 2009, not 2007. We're introduced to Pinnacle Energy, the prior name for TPAC in late 2009, not 2007. We concluded the deal in 2010. That's when I took over the company and we changed the name.
Speaking "apple to apple" there is a facility. There is a difference between book value and actual value. A company can have a machine with a 7 year life for depreciation purposes. At the end of that 7 years, that machine has no book value. However it still exists. It doesn't disappear. If the company sells that machine, the company recognizes a gain on the sale. So we have a facility, a physical shop, with real machines and real equipment. We have the ability to make bearings at this exact moment in time. The only thing is that the assets have no book value, but they do exist. Since you like to be clear, let's be clear in what the filings say. Each of the filings since 2011 have and continue to clearly say that we have a facility in which to make bearings. We have no filings that state that we do not have a working facility producing bearings, in fact quite the opposite is true. The filings consistently state we have a facility.
I know that the language in the filings can be confusing but rest assured that we have a facility and machinery and equipment and tooling and blueprints and raw material, and intellectual property, all of which, although they have no book value, do have actual value and can be used to produce bearings.
Speaking "apple to apple" there is a facility. There is a difference between book value and actual value. A company can have a machine with a 7 year life for depreciation purposes. At the end of that 7 years, that machine has no book value. However it still exists. It doesn't disappear. If the company sells that machine, the company recognizes a gain on the sale. So we have a facility, a physical shop, with real machines and real equipment. We have the ability to make bearings at this exact moment in time. The only thing is that the assets have no book value, but they do exist. Since you like to be clear, let's be clear in what the filings say. Each of the filings since 2011 have and continue to clearly say that we have a facility in which to make bearings. We have no filings that state that we do not have a working facility producing bearings, in fact quite the opposite is true. The filings consistently state we have a facility.
I know that the language in the filings can be confusing but rest assured that we have a facility and machinery and equipment and tooling and blueprints and raw material, and intellectual property, all of which, although they have no book value, do have actual value and can be used to produce bearings.
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