There has been a lot of recent activity involving TPAC. With respect to the stock, there has been a significant increase in trading volume. This is largely due to the fact that several convertible notes have been and are in the process of being converted into shares of TPAC. The note holders then sell those shares into the market to achieve payoff on the notes. Presently, all notes eligible for conversion have been or are being converted. Once this process concludes, there is one note remaining, which is eligible for conversion in August, 2015.
With regard to business activities, the company has recently re-opened discussions with one of our potential partners here in China. These discussions are ongoing as of the time of this writing but we have only minor issues to resolve. It is difficult to predict when and if we will reach an agreement, but once we do, we will issue a press release regarding the event. An accord will have a significant impact on the near term future for TPAC.
We have been working very closely with investors in the U.S. who are interested in further developing our facilities in China. These investors would take a minority ownership in our China facility and would receive restricted shares in TPAC as well. These discussions are far along and should we sign an agreement, a press release would be issued.
I have been invited to attend a bearing seminar in Toronto Canada at the end of May. The seminar, hosted by AVIC division AVICAST is intended to provide participants with information regarding navigating both the Chinese and Western aerospace markets. As the only U.S. based Chinese manufacturer in attendance, TPAC has been invited to give a presentation regarding the subject. In the event that the presentation will be streamed, I will post information pertaining thereto.
Finally, we are in discussions with two aerospace manufacturing companies regarding TPAC’s potential acquisitions of their businesses. One company is located in the U.S., while the other is in China. Fundamental terms have been agreed upon and in the near future we will begin discussions with investment bankers regarding financing the potential transactions.
Now for the disclaimer. This report is intended to provide those interested in TPAC with a forthright and open source of information regarding the company. However it is merely an update and not a statement that all or any of the events discussed may take place. The report is not intended nor do I want to induce anyone to invest in TPAC based upon this report or other statements made by the company. Anyone investing their hard earned money in TPAC or any other company should perform their own due diligence. We remain highly optimistic regarding the future of TPAC but we caution anyone making a decision regarding market investments to use caution, intelligence and prudence.
Bill McKay, CEO