Trailers Modernos International, Inc. was established June 19, 1992, as a United States company incorporated in the State of Virginia. TMI formed a wholly owned Mexican operating subsidiary, named Trailers Modernos S.A. de C.V. (“TMSA”), and located in Mexico City. TMI and TMSA spent several years attempting to establish a truck trailer manufacturing, truck stops and truck trailer leasing business in Mexico.
As part of its efforts to obtain private financing, TMI, on February 16, 1996, formed a wholly owned subsidiary, named Mexican-American-Canadian Trailers Leasing, Inc. (“MAC”), a United States corporation incorporated in Colorado. MAC also formed a wholly owned Mexican subsidiary, named Trailers Modernos Arrendamiento S.A. de C.V. (“TMA”). Upon incorporation, MAC exchanged 1,000,000 of its shares of common stock with TMI for title to equipment (19 truck van trailers).
As part of its efforts to obtain private financing, TMI, on February 16, 1996, formed a wholly owned subsidiary, named Mexican-American-Canadian Trailers Leasing, Inc. (“MAC”), a United States corporation incorporated in Colorado. MAC also formed a wholly owned Mexican subsidiary, named Trailers Modernos Arrendamiento S.A. de C.V. (“TMA”). Upon incorporation, MAC exchanged 1,000,000 of its shares of common stock with TMI for title to equipment (19 truck van trailers).
