Ann: Results of Meeting, page-29

I'll post this Audio Pixels article again. It's a year old, but things seem to be getting worse for them. Really recommend doing some reading on this company.

https://www.removepaywall.com/article/current

I don't have a lot of knowledge about this company AKP, but have read through a few of their company announcements and financials. Oh and also their HC threads are entertaining.

The last couple of years they have been kept afloat through Bart lending his own money and significant shareholders like Freedman chucking in some too.

Right now they appear to be in some serious "going concern", "working capital" strife.

From the auditors of AKP June 2023 financials (nothing since then has changed apart from investors chucking in another $2mil in Dec) ...
"Material Uncertainty Related to Going Concern. We draw attention to Note 1(e)in the financial report, which indicates that a material uncertainty exists that may cast significant doubt on the Consolidated entity’s ability to continue as a going concern. Our conclusion is not modified in respect of this matter."

Phoslock with it's $10 mil sitting in the back comes to Barts attention, through you know who.
Bart, Freedman and other investors expect AKP to do well when it finally, after 14 years and tens of millions of dollars of R&D, is able to produce a product to sell !!??? They expect the share price to soar to $30 (so they say on HC). There been no real sign so far that they will achieve this........ in fact the Chinese company that is their manufacturer is stalling on investing and has the IP rights to the manufacturing process. Perhaps they will be successful, but nothing they have promised has been achieved so far. And they are in financial trouble.

So here's my thoughts on Bart suddenly arriving on the PET scene and his stressing the utilisation of PET tax credits (no idea where he gets $40mil figure).

PET will become a lender to Audio Pixels one way or another (current lenders - Bart - getting 12%).
The loan will convert to shares.
PET makes a motza once AKP is successful (?) and then gets to use the tax credits.