|Subject: Response for Marc Re. Twisted Air||Date: 5/16/2017 2:11:09 PM|
|Dear Mr. Marc;
Sorry, I did not catch your last name, thank you for taking to time to post your commentary.
Further to my posting of September 14th, during 2001 Twisted Air Technologies was being acquired by an RFID Company.
Unfortunately, with the economic down turn following Sept 11th of that year and other events that were beyond Twisted Air's control, the RFID Company was unable to complete the acquisition. The RFID Company had advanced monies to Twisted Air during the months leading up the closing and secured those monies against the assets of Twisted Air.
Twisted Air made several attempts during the fall of 2001 to negotiate a settlement with the purchasing company, however the purchasing company and Twisted Air could not reach an agreement.
Given this circumstance, Twisted Air could not continue operations with a security over all its assets, and had to suspend operations in December 2001.
The company management and technical staff made every attempt to help those affected at the time. It took over 2 years to complete a resolution with the purchasing company to release the security on the assets.
MeterTek initiated operations in 2004 based upon the technical successes of Twisted Air's vehicle detection and wireless product suite. MeterTek's new management team welcomes all inquiries regarding this matter, the companies business, and product suite.