ANTX DD share structure 100mil A/S 67mil O/S float unknown but judging by the way it trades its under 10mil imo. Im posting straight facts from the companys website. ANTX is current with nevada SOS
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=1HrOXxvWQdHsxrr8iCOWBg%253d%253d&nt7=0 ANTX January 8, 2012
Dear Shareholder:
The third quarter of 2011 has been active for AcuNetX. There have been changes in management resulting in the resignation of Robert Corrigan in September. The Board assigned the Chairmanship to Chapin Hunt with his responsibility of identifying a new CEO and assumed that post.
New Sales were immediately implemented with an aggressive sales campaign and the hiring of a sales consultant which increased the monthly sales. Management has acquired a CE which means that our products conform with the European market allowing AcuNetX to sell in the European markets. AcuNetX is currently opening up markets in Ireland, Scotland and England and identifying new distributors.
Additionally, management has dramatically increased a customer service and repair program, which had been sorely lacking. The customer service program has resulted in new orders, increased sales and the signing of new distributors.
New technology is being instituted for the Company's three products, which required needed updating. By the upgrade of the VNG, the Hawkeye and the Safety Scope, Management has increased pricing with more sales along with new markets becoming available.
The company has photographed each individual component and is producing a training manual and trouble-shooting guide for customers and distributors.
Management has reduced company expenses, and relocated the corporate administrative office to the Northern California Bay Area as all the administrative, legal and accounting services are in the Bay area.
While keeping the FDA approved facility in Torrance, Management has employed Jack Ferguson, a former Disney engineer and Navy Seal, who is upgrading the HawkEye and Safety Scope and is able to repair company products. The company is going to hire well trained engineers who are disabled war veterans from the two wars who will assist in servicing the company products. Mr. Ferguson is also preparing for the upcoming FDA inspection and backing up the Company's main provider of VNGs s so there will be no lack of continuity.
In November and December two presentations were made to the Barrows Neurological Clinic with the Safety Scope for concussion investigation.
AcuNetX Hawkeye won the bid for the State of South Carolina and we have increasing HawkEye orders monthly.
Past management had failed to file 8K's, 10 Q's, and 10K's, accurate financial statements and failed to keep the company in good standing with the Secretary of State in Nevada. Current management immediately reinstated the company's standing with the Secretary of State of Nevada, filed an 8K, met with the company's former CPA, Alex Limbert, to retain records and hired a new book keeper, Corina Fortes to begin updating financials for the past 3 years.
The Company has hired a consultant to begin working with its Creditors this month.
During the past two years there was an ongoing discussion with the Cascade Company that had been announced a year ago. Subsequently Cascade had expressed an interest and made several proposals/offers to purchase all or parts of AcuNetX.
After several meetings with Cascade, the Board of AcuNetx could not recommend to the shareholders any of these proposals. The idea proposed would have sold all of AcuNetX assets, given up its office and production personnel and received a licensing fee/income which was never determined while AcuNetX would have kept all of the payables. This deal was a non starter as it was not in the best interest of AcuNetX.
On November 14th, 2011, The Board made the decision to cancel the November 17th, 2011 Shareholder meeting for reasons stated in the most recent letter sent to you. An impromptu meeting was called by several shareholders on November 17th 2011. At this telephonic occurrence several shareholders suggested a new slate of the Board of Directors consisting of former CEO, Ron Waldorf and his appointee, Wes Crenshaw.
At that meeting Steve Butler considered resigning from the Board and later did so that day in writing. Upon receipt of his written resignation, as the sole director, I appointed two new board members, Cathy Elliott Jones and Frank Card, not the suggested slate due to certain conflicts of interest.
There have been a minority number of shareholders who have attempted to perpetrate fraud on both the Board of Directors and the majority of shareholders who have been marginalized by this attempted take over. The interest of the perpetrators is not the best interest of the Company and is to serve their minority and personal interests. Legal counsel is handling this situation. Three of these shareholders are threatening to put the company into involuntary bankruptcy. As Chairman of the Board, his fiduciary duty is to the majority of shareholders. If there are any questions, please contact corporate counsel, Cathy Elliott Jones in writing. cjoneslaw@aol.com
The Chairman is actively managing the affairs of the Company today. Management will be sending out a monthly newsletter until the next Shareholder meeting which will be information only and is to be held in March 2012. At that time the activities of the company will be reviewed from past management to current activities including projections for the upcoming year and present the unveiling of the upgraded products for all to view. Financial statements will also be presented.
Pleased forward any inquiries to the company and any items you wish to discuss at the Shareholders meeting to me at: chapinhuntjr@pacificheightsholdings.com or Acunetx@gmail.com
Have a very Happy New Year,
Chapin Hunt Jr.,
Chairman of the Board/ CEO
ANTX Latest shareholder letter, at least CEO concerned with price of stock
February 2, 2012
Dear Shareholders:
The following is a report on the activities of AcuNetx. On December 8, 2011 the company had over 25 VNG orders that were set to be delivered by year end.
Management was confronted by Mr. Scott Auerbach, a purported shareholder and creditor and Mel Shadowens of MedTrak, also a shareholder and a distributor of VNGs. They advised that the company had allegedly defaulted in October on its prior agreement made with MedTrak and its past President Robert Corrigan. They produced a letter to be signed by the President
Mr. Shadowens and Mr Auerbach, direct beneficiaries of MedTrak and its successor MedTrak/VNG, stated that there was a default and if the letter was not signed confirming such default that day, that MedTrak would pull all it's orders and would hire Mr Welk, Acunetx's sole assembler, away from Acunetx crippling the company. . Mr Shadowens was informed that the agreement was subject to board approval and such approval the Board subsequently did not grant.
AcuNetx successfully continued to build and produce VNGs for the month of December and is doing so now but not for MedTrak
In late December it came to the attention of the Board that there have been certain activities that indicated alleged conspiracy, alleged collusion, alleged bribery and unauthorized access to accounts of AcuNetx by some shareholders, employees and distributors. The FBI was immediately contacted and an investigation has commenced. The Office of Criminal Investigations with the FDA is currently investigating the Company's online account access. Access to anyone outside of AcuNetx has been terminated. The 510K status remains in the name IntelliNetx only.
Based on advice of counsel and the FBI disclosures must be kept to a minimum.
The FBI has commenced a forensic investigation of all company computers, emails and accounts. It is alleged that there have been communications that were kept from the company regarding very important documents, alleged mail fraud, alleged conspiracy, alleged collusion and alleged intent to knowingly fraudulently induce AcuNetx into an alleged fraudulent agreement.
On a positive note, the company is successfully producing and selling VNG's, signed new distributors, and increased customer service. Repair orders have increased dramatically due to call back efforts of the company to past ignored calls from customers.
New contracts have been instituted with new and old vendors.
The company computer was stolen in March 2011 and was not reported to the Torrance Police department until September 2011. Company book keepers and accountants are working with the IRS so that the company may have proper adjusted financial reporting and is working towards a payment plan for the unpaid payroll taxes and unpaid State taxes incurred over the last two years.
AcuNetx appreciates your concern and patience as the Company continues with these sensitive investigations. Despite the transgressions of a few, the operations of the company has not been impacted and with new professional staff the company is cash flow profitable and debt removal is underway.
Jack Ferguson a 25 year veteran of Disney and Ray Alpern a 20 year veteran of Kodak have joined the company as production coordinators giving the company, for the first time in years, a professional approach to operations and meeting the needs of its customers which was sorely overlooked.
A follow up report will ensue which will provide positive results to all of the above as an indication of progress. As of today the stock of the company is up over 100% of last year's ending value
Sincerely,
Chapin Hunt Jr.,
Chairman of the Board and CEO
ANTX new staff
FOR IMMEDIATE RELEASE
ACUNETX ANNOUNCES NEW HIRES IN TORRANCE, CA.
# # #
January 9, 2012 - Berkeley, CA - The Board of Directors of AcuNetX Inc. is excited to announce some new additions to our technical team in Torrance, CA.
Joining our engineering team is Mr. Jack Ferguson. Jack has many, many years of engineering experience, first as a member of the elite U.S. Navy Seals serving in Vietnam, and then over 25 years as an engineer for Disney Studios. Jack will be handling many different technical aspects of our VNG, HawkEye, and SafetyScope products, and is pleased to be part of our new team charged with updating and improving these products.
# # #
Also joining our team in the newly created position of Chief Technology Officer/Lead Engineer is Mr. Ray Alpern. Ray comes to us with over 30 years of experience as an imaging sciences engineer, most recently over 10 years as a Senior Photographic Engineer with the Kodak Professional division of the Eastman Kodak Company. Earlier in his career, Ray was a key member of the team in the engineering and design of one of the first ever applications of digital imaging in the medical industry, creating a system used for high-resolution photography through medical endoscopes which was distributed worldwide exclusively by Stryker Medical. As CTO Ray will be in charge of updating all of our technology, both product-related and administrative IT, to the current state-of-the-art. Ray will be reporting directly to our CEO, Mr. Chapin Hunt, Jr..
# # #
ABOUT ACUNETX
At AcuNetX (acunetx.com) and through our operating units, IntelliNetX, OrthoNetX, and VisioNetX, we design, manufacture and market products that make our highways safer and our lives happier and healthier. Our products are used by: Neurologists and Otolaryngologists to isolate the cause of a patient's dizziness; reconstructive surgeons to correct bone deformities; and law enforcement officials to establish probable cause leading to the arrest of motorists' suspected of being under the influence. We've been in business for more than twenty years and are an acknowledged leader in every field in which we have a presence. We are obsessed with quality and are constantly reinventing ourselves so that we can better serve our customers, big and small. We know that only by being supremely sensitive to our customers' needs and the vagaries of the marketplace can we hope to achieve any kind of real or lasting success. It is AcuNetX's goal to become the nation's pre-eminent supplier of tools that use the human eye to detect, measure and assess disorders that impair performance or degrade the quality of life. AcuNetX is a publicly traded company (ANTX).
Press Contact: Ms. Jocelyn Somers - (310) 328-0477
CEO Chapin Hunt jr is no joke here is some info
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