Assuming Control at Altex Aviation Case Study

The case study involves the purchase of Altex Aviation by two individuals, Theodore Edwards and Frank Richards, who met at the Harvard Business School as graduates. Edwards and Richards had been great friends and decided to own a business of their own, and kept in touch after graduating from the Harvard Business School that led to the purchase of Altex Aviation. At the time of sale, the company was facing financial difficulties and was losing money and sales. Edwards and Richards paid $20,000 for the company’s stock and raised $100,000 as their working capital