Despite Very Light Jet Popularity, Maker Cuts Back
Monday, February 11, 2008
In a letter to shareholders, CEO John Wolf warned that without a cash
injection of $25 million by the end of January, the company will face
liquidation by its creditors. That $25 million will buy the company time, as its
looks to raise the $100 million needed to complete the accreditation process for
its A700 and gain any financial
footing. If Adam Aircraft fails to raise the necessary funds by the end of
January, it is likely that the company's shareholders will lose their
investment.
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