Intelisys Aviation Systems of America Inc.

• Public
• CA

Dow Jones Description

In August of 2003, the Company changed its name from Apta Holdings, Inc. to InteliSys Aviation Systems of America Inc. (?IASA?) pursuant to a consent of the Company?s shareholders, to better reflect its new business activities. The Company was incorporated on June 4, 1999. We were engaged in two lines of business, owning and operating income producing real estate, and a finance business which originated and serviced loans to individuals and to businesses. The real estate business was spun off in 2000. The finance business was sold on December 31, 2002. On December 31, 2002, we acquired Convergix, Inc., a Canadian corporation, pursuant to a share exchange agreement dated November 20, 2002. Pursuant to the agreement, IASA issued 3,295,000 shares of its common stock plus 21,788,333 exchangeable shares in InteliSys Acquisition, Inc. a subsidiary of IASA. The exchangeable shares have equal voting rights and equal economic value as IASA common shares. These shares may be exchanged by the holder at any time on a one-for-one basis for IASA common shares, and if not exchanged prior to December 31, 2012, will be exchanged for IASA common shares on that date. Throughout this document, the exchangeable shares are treated as common stock equivalents. All references to IASA common stock include the exchangeable shares unless otherwise noted.

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