quote:
Originally posted by kissthering:
AVTX on its floor with explosive opportunity.Trading around 5 cents.
O/S is 28Million with 14 million in the float.
Brief overview.... AVTX has a license agreement with Kollsman Inc. for their EVS (enhanced vision system) which provides them royalties provided a enhanced EVS maket. The FAA just loosened the regulations in Feb. to where all aircraft are approved to use this low-alt. technology.
AVTX has also stated in filings that their microbolometer tech. through their "Night Eagle" has opened a door for several more commercially viable applications. They also are waiting on information from an undisclosed company for some trials on the use of their spectrum 9000 med. tech.
there's a brief overview... here's all the info you need so you can really study what you would be buying. THey report mid Aug. and I believe this to be a golden opportunity. best of luck.
otcbb profile... http://otcbb.com/profiles/avtx.htm
filings http://www.nasdaq.com/asp/quotes_sec.asp?mode=&kind=&symbol=BTOR &symbol=AVTX&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&FormType=&mkttype=&pathname=&page=filings&selected=AVTX
Website... http://avtx.com/
FAA approval.. http://a257.g.akamaitech.net/7/257/2422/14mar20010800/edocket.access.gpo .gov/2004/04-427.htm
Honeywell HUD article.. http://www.honeywell.com/en/aerospace/announcement_details.jsp?rowID=17& amp;docID=4357&catID=2
Kollsman EVS articles ... http://www.kollsman.com/aviintro.html
http://www.kollsman.com/evsfaarule.htm
http://www.kollsman.com/Frost%20&%20Sullivan%20Award%20PR.htm
UIS website(product info.)... http://www.uisco.com.tw/eng/2.php
footnotes from quarterly on 05/13/2004..."BUSINESS OVERVIEW
The tragic events of September 11, 2001 have produced economic and bureaucratic shock waves that continue to effect ATI and our strategic plans. As time goes on the effect on ATI is less and the over-all business recovery is improving. Cost of capital and venture capital remain difficult in the high technology sector. US Government restrictions on the application of Infrared Technology to commercial application continue as we learn to work with new restrictions and reporting requirements. The commercial applications are becoming easier, export restriction are more difficult. The effect has been most notable in the decline of the price of our common stock and a general slow down of our markets.
Advance Technologies has reached an agreement in principle with a marketing and sales group to launch the NITEAGLE program. Terms of this agreement are expected to be finalized in April 2004.
The acquisition of Telesis Technologies Inc., a privately held Taiwanese corporation was officially completed this fall by United Integrated Services (UIS), a publicly traded Taiwan Corporation. Our agent agreement and joint projects have been converted to UIS with no change in terms and conditions.
In January 2004 ATI delivered 15 Nightview camera to UIS for their Spectrum 9000 medical system sold in the far east. These units were exported under the terms of our agent agreement and in compliance with the terms and conditions of Department of Commerce License No. D293324 issued October 26, 2002. This second shipment completes the number of systems authorized under the export license.
ATI has applied for another export license for 50 additional IR Cameras. This will be the third license ATI has obtained for UIS (Telesis).
ATI was contacted by a medical service facility in the USA. The medical company is interested in conducting clinical trials on the Spectrum 9000 produced by UIS to investigate potential benefits in the treatment of diabetes, varicose veins, and other circulatory diseases.
ENHANCED VISION ACTIVITIES
Enhance Vision System, our first project; has entered production. Advance Technologies benefits through a license agreement with Kollsman Inc.
Kollsman has issued a through March 31, 2004 a total program to date deliveries and sales.
--------------------------------------------------------------------------------
Page 6
--------------------------------------------------------------------------------
ANNUAL UNITS DELIVERED & SOLD
--------------------------------------------------------------------------------
INITIAL DELIVERY UNITS SOLD TOTAL
________________ __________ _____
Year 2002 47 29 29
Year 2003 108 107 107
Year 2004 (Q1) 19 28 28
_______________________________________________________________
TOTAL 174 164 164
The EVS market continues to develop on schedule.
On March 30, 2004 Gulfstream Aerospace announced that they have received an amendment to the EVS Supplemental Type Certification (STC) for their G-IV Aircraft. The addition of the G-IV increases the EVS market by more than 500 systems. As a result of this action, Gulfstream now offers EVS as a retrofit on six models (GIV, GIV-SP, G300, G400, and GV). The retrofit modification is combined with scheduled maintenance and can be performed at five Service Centers in the USA. EVS remains standard equipment on G450 & G550 currently in production.
The proposed rule change (February 2003, Federal Registrar) by the FAA have been adopted after nearly a year of study and review. The flight rule specifically approvals EVS for precision approaches in FAA defined low visibility operations. This rule takes away the last restriction, and EVS can now be expanded beyond the Business Jet (Part -91 operations) to the Regional Carriers (Part -135), Major Carriers (Part -121), and the Package Carrier operators (Part -127/-121).
The agreement between Kollsman and FedEx is proceeding with the EVS being slated for operation on all of FedEx's widebody aircraft.
NITEAGLE
The advancements in price, performance, and delivery of the microbolometer IR technology have matured to the point where NITEAGLE is commercially viable. This long awaited event is key to several commercial applications beyond NITEAGLE. Details of the final NITEAGLE agreement will be released in our next quarterly filing.
SPECTRUM 9000, MEDICAL EQUIPMENT
Advanced Technologies is working with a US medical service company to provide a clinical study, peer group review proposal to study and evaluate potential benefits to the treatment of circulatory diseases such as varicose veins, diabetes, and other potential applications. This study will be conducted under the direction of well recognized Surgeon.
UIS has asked ATI to submit a peer review study proposal. UIS has offered a Spectrum 9000 to the medical company at a very competitive price. We are still waiting on the medical company to prepare the "peer group" study proposal. The medical company has been very busy with their start up, and we expect a firm proposal to initiate negotiations with UIS. ATI believes the Spectrum 9000 can be used on a joint basis for the medical company daily business as well as a "show and tell" demonstrator for the US market.
DEVELOPMENT PROJECTS
Advance Technologies Inc. continues development activities on new Infrared systems for commercial markets. These projects cannot be forecast with any degree of certainty and all strategic partnerships or business arrangements remain confidential until such time as a formal announcement is appropriate without compromising the development plan and/or the application market.
CAPITAL RESOURCES
No commitment for capital resources has been made during this reporting period.
FINANCIAL ANALYSIS
The results on the operation represent projects of likely future events that cannot be guaranteed. Therefore, the financial analysis does not include projects, and no quantitative assessment has been provided based upon the future discussion of potential events in section 3.
No material changes have been provided; therefore impact of unforeseeable events cannot be assessed.
Present financial plans are adequate to meet our cash flow needs with our current project schedule.
--------------------------------------------------------------------------------
Page 8
--------------------------------------------------------------------------------
ADVANCE TECHNOLOGIES INC. BOARD OF DIRECTOR ACTIONS
The maturity of the Enhanced Vision Project has provided the need to make adjustments to prepare for our transition from a "development company" to a mature self-sustaining company. We anticipate a full transition by mid-2004. Accordingly, the following actions have been authorized by the AVTX Board of Directors to smooth the transition of AVTX.
On December 14, 2003 the Board of Directors directed the Corporate attorney to file for authorization to issue 4,000,000 shares of AVTX common stock for the purpose of generating operating capitol for 2004. The proceeds of sales will be used to cover operating expense as AVTX completes their transition from a development company, dependent upon investments to an on-going profitable enterprise.
In February 2004, the Board of Directors rescinded the direction to the corporate attorney to file for the issuance of 4,000,000 shares and instructed the corporate attorney to prepare a Private Placement Memorandum for the private placement of 4,000,000 common shares subject to Rule 144 restrictions to provide for operating capital and new business development for 2004. Management believes this equity placement better suits the company's needs. "
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
