SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
AMENDMENT NO. 1 TO
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended May 31, 2000
Commission file number: 0-18352
INTERNATIONAL AIRLINE SUPPORT GROUP, INC.
(Exact name of Registrant as specified in its charter)
Delaware 59-2223025
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(State or Other Jurisdiction of
Incorporation or Organization) (I.R.S. Employer Identification No.)
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1954 Airport Road, Suite 200,
Atlanta, Georgia 30341
(Address of Principal Executive Offices) (Zip Code)
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(770) 455-7575
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(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of class Name of each exchange on which registered
Common Stock, $.001 par value American Stock Exchange
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Securities registered pursuant to Section 12(g) of the Act: None
The undersigned Registrant hereby amends the following items, financial
statements, exhibits or other portions of its Annual Report on Form 10-K for the
year ending May 31, 2000 as set forth below:
Part II, Item 8
Financial Statements
The report of Grant Thornton LLP, independent certified public accountants,
with respect to the financial statements of Air 41 LLC, a Delaware limited
liability company in which the Company owns an equity interest, is filed
pursuant to Regulation S-X, Rule 3-09.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this amendment to be signed on its behalf by the
undersigned thereunto duly authorized.
International Airline Support Group, Inc.,
a Delaware corporation
By: /s/ James M. Isaacson
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James M. Isaacson
Chief Accounting Officer
Date: June 6, 2001
REPORT OF INDEPENDENT CERTIFIED
PUBLIC ACCOUNTANTS
Board of Directors
AIR 41 LLC
We have audited the accompanying balance sheets of AIR 41 LLC (the "Company") as
of May 31, 2000 and 1999, and the related statements of earnings, members'
capital and cash flows for the year ended May 31, 2000 and the period from
September 19, 1998 (date of inception) through May 31, 1999. These financial
statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements based on
our audits.
We conducted our audits in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of AIR 41 LLC as of May 31, 2000
and 1999 and the results of its operations and its cash flows for the year ended
May 31, 2000 and the period from September 19, 1998 (date of inception) through
May 31, 1999, in conformity with accounting principles generally accepted in the
United States of America.
/s/ Grant Thornton LLP
Miami, Florida
July 21, 2000