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Technology Stocks : Advanced Engine Technologies (AENG) -- Ignore unavailable to you. Want to Upgrade?

To: Sir Auric Goldfinger who wrote (2587)	1/3/1999 9:02:00 PM
From: cornbread	Read Replies (3) \| Respond to of 3383

I spoke with Mr. Ballgereon several months ago when this issue first came up. He was very kind to explain in detail the business relationship with AENG. The Priscilla shares were also explained. Nothing illegal about a relative purchasing and selling stock. Nothing there that the SEC would find interesting. I must admit that the poison pill had me concerned. I'm sure my name was right below yours on AENG's sh*t list after I called them to discuss this revelation. I'm glad to see that the company is rescinding the deal. Based on AENG's quick response this change was probably in the works for quit some time. Reference oxtwo.com Page two items 2.1, 2.1.1 and 2.1.2. of the Agreement deals specifically with the issuance of AET common shares to the Grantor. To date, 20,000,000 shares have been issued, however, the Agreement calls for an additional 19,000,000 shares to be issued after certain events take place. It is now the Grantor's opinion that this issuance of additional shares could have a negative effect on AET's ability to commercialize the OX2 engine. The Grantor feels that AET and its public shareholders could incur financial harm if these additional 19,000,000 shares were issued. In consideration for the excellent performance by AET in it's effort to commercialize the OX2 engine and for the strong support shareholders of AET have given the company, the Grantor has made a decision to rescind that portion of the Licensing Agreement, calling for the future issuance of additional 19,000,000 shares. AET has received an executed amendment to the 1996 Licensing Agreement, effectively canceling AET's commitment to issue the additional 19,000,000 shares as called for in article 2.1.2 of the Licensing Agreement between AET and the Grantor in consideration for a sum of $100 US. The amendment to the Licensing Agreement has been accepted by AET and the consideration of US$100 has been paid. I still believe that AENG has a valid product. I'm hoping the recent production style engines and testing are in response to companies request to see exactly how an OX2 would work for their applications.