ADI is a dead company. Just received this today. Let's close this message thread and move on....
Technologies, Inc.
Date: 21 August 2002
SYMBOL: ADH.V
ADIKF
For more information contact:
adi@adi.net
ADI TECHNOLOGIES, INC.
With great regret, the Company reports that all support for corporate operations will immediately cease.
As last reported, the Company’s funding bank, IBG Group, was actively working to close its Asian fund,
however, such closing has still not yet occurred. We understand that the principals of IBG are still in
Asia working to resolve their problems; therefore, to this regard the Company will try to maintain contact
with IBG as to their progress and consequent future potentials.
The Company has received notice from the BC Registrar of Companies regarding the failure of the
Company to file Annual Reports. The Registar of Companies has requested that all reports be brought up
to date on or before October 3,2002 or the Company may be stuck form the registry and dissolved. The
Company cannot provide assurance to its shareholders that it can attend to this prior to that date.
While tremendous effort has been employed to continue operations, even on a minimal basis, the
associated costs have become unbearable. Over the year, principals J. Monroe and. K. Monroe and
Guardian Financial have individually sacrificed much to ensure continuation of ongoing operations;
however, these continuous demands to personal finances can no longer be sustained.
We wish to express our heartfelt appreciation to the many shareholders who have left voice messages and
sent emails expressing kind thoughts and encouragements. Regretfully, all of our energies were being
spent seeking alternative financing potentials which left calls and emails unanswered. All messages and
inquiries will receive a response within the next few days. The corporate email service will be
maintained for as long as possible and we encourage those who wish to contact the company to use this
venue for further communications.
On behalf of the Board of Directors,
Jean Monroe
Chairman & CEO
This press release contains certain forward-looking statements. Forward looking statements contain certain risks
and uncertainties, including but not limited to, market demand, pricing, second party dependencies and changes in
worldwide economic conditions that could cause execution plans to differ materially from those anticipated above
and actual results to vary Forward looking statement do not guarantee future results or events, and undue reliance
on such statements should be avoided.
News Release |
