<SEC-DOCUMENT>0001193125-24-268884.txt : 20241202
<SEC-HEADER>0001193125-24-268884.hdr.sgml : 20241202
<ACCEPTANCE-DATETIME>20241202160550
ACCESSION NUMBER:		0001193125-24-268884
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20241202
DATE AS OF CHANGE:		20241202

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AIM ImmunoTech Inc.
		CENTRAL INDEX KEY:			0000946644
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		ORGANIZATION NAME:           	03 Life Sciences
		IRS NUMBER:				520845822
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-27072
		FILM NUMBER:		241519028

	BUSINESS ADDRESS:	
		STREET 1:		2117 SW HIGHWAY 484
		CITY:			OCALA
		STATE:			FL
		ZIP:			32801
		BUSINESS PHONE:		352-448-7797

	MAIL ADDRESS:	
		STREET 1:		2117 SW HIGHWAY 484
		CITY:			OCALA
		STATE:			FL
		ZIP:			32801

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HEMISPHERX BIOPHARMA INC
		DATE OF NAME CHANGE:	19950614

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KELLNER TED D
		CENTRAL INDEX KEY:			0001187524
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		DFAN14A

	MAIL ADDRESS:	
		STREET 1:		C/O T&M PARTNERS
		STREET 2:		790 N. WATER ST. #2175
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53202
</SEC-HEADER>
<DOCUMENT>
<TYPE>DFAN14A
<SEQUENCE>1
<FILENAME>d892740ddfan14a.htm
<DESCRIPTION>DFAN14A
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<TITLE>DFAN14A</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
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<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>(Rule <FONT STYLE="white-space:nowrap">14a-101)</FONT></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION REQUIRED IN PROXY STATEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A INFORMATION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Proxy Statement Pursuant to Section&nbsp;14(a) of the </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>(Amendment No.&#8194;) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by the
Registrant&#8194;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by a Party other than the Registrant&#8194;&#9746; </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Preliminary Proxy Statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Confidential, for Use of the Commission Only (as permitted by Rule
<FONT STYLE="white-space:nowrap">14a-6(e)(2))&nbsp;</FONT> </B></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive Proxy Statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive Additional Materials </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting Material Under Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>AIM IMMUNOTECH INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Registrant as Specified in Its Charter) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TED D. KELLNER </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TODD
DEUTSCH </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ROBERT L. CHIOINI </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PAUL W. SWEENEY </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of
Persons(s) Filing Proxy Statement, if Other Than the Registrant) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Payment of Filing Fee (Check the appropriate box): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9746; No fee required </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9744; Fee paid previously with
preliminary materials </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9744; Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules
<FONT STYLE="white-space:nowrap">14a-6(i)(1)</FONT> and <FONT STYLE="white-space:nowrap">0-11</FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ted D. Kellner, Todd Deutsch, Robert L. Chioini and Paul W. Sweeney (the &#147;Kellner Group&#148;) have
filed a definitive proxy statement and accompanying<B> GOLD</B> proxy card with the Securities and Exchange Commission (&#147;SEC&#148;) to be used to solicit votes for their election to the Board of Directors of AIM Immunotech Inc., a Delaware
corporation (the &#147;Company&#148; or &#147;AIM&#148;), at the 2024 Annual Meeting of Stockholders scheduled to be held on December&nbsp;17, 2024 (the &#147;Annual Meeting&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On December&nbsp;2, 2024, the Kellner Group issued the press release that appears below and expects to distribute copies to stockholders by mail and
electronically: </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Kellner Group Urges Stockholders of AIM Immunotech to Vote the <U>Gold</U> Card </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Kellner Group Has Financial Resources AIM Needs </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Kellner Group Owns 5.04% of Outstanding Shares and is Fully Aligned with Stockholders </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>AIM Cash Conservation Plan is Too Little Too Late, Exposes Desperate Financial Condition </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>AIM Stock Price has Declined 99+% </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Frantic AIM Board Doubles Down on Attempts to Deceive Stockholders </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York, December&nbsp;2, 2024: Ted Kellner, as the nominating stockholder and a nominee, together with his other nominees, Todd Deutsch, Robert L.
Chioini and Paul W. Sweeney (collectively, the &#147;Kellner Group,&#148; &#147;we&#148; or &#147;us&#148; and, as nominees, the &#147;Kellner Group Nominees&#148;) today issue the following press release in connection with their efforts to bring
accountability to the entrenched, incumbent Board of Directors of AIM Immunotech Inc. (NYSE American: AIM). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Kellner Group Has Financial Resources
AIM Needs </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Collectively, the Kellner Group Nominees have raised over $1.0&nbsp;billion in investment capital in the past and have the networks and
resources to raise the significant capital that will be required for AIM. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Mr.&nbsp;Kellner has raised over $500&nbsp;million in his career as equity capital for early-stage businesses,
management buyouts and real estate development projects. Fiduciary Management, the advisory firm he founded, currently manages over $16.0&nbsp;billion in assets. His real estate development firm currently has $2.3&nbsp;billion in assets.
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Mr.&nbsp;Sweeney, with thirty-five years of private equity experience, has raised over $300&nbsp;million in debt
and equity capital for buyout transactions and growth equity investments. These have included $5&nbsp;million for an early-stage health care data analytics business, $20&nbsp;million for an early-stage nuclear medicine company and approximately
$10&nbsp;million for a <FONT STYLE="white-space:nowrap">start-up</FONT> medical device manufacturer. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Mr.&nbsp;Chioini, primarily while CEO of Rockwell Medical, raised over $250&nbsp;million in capital, including
registered direct offerings, confidentially marketed public offerings, private placements, business development arrangements and other transactions. </P></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>The Kellner Group has the resources and networks to successfully raise funds and provide the necessary runway to finally start creating value for
stockholders</U>.<U> </U> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Given the tremendous damage that the incumbent Board has inflicted on AIM&#146;s financial condition, it will be imperative
for AIM to raise significant financing in a sustainable way. <B><U>The incumbent Board simply does not </U></B><B><U>have the credibility, skills, networks or resources to raise the capital that AIM needs.</U></B><B> </B>This has been proven over
the past almost nine years that the incumbent Board has been in control and failed.<B> </B> </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Kellner Group is Fully Aligned with Stockholders </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Kellner and Mr.&nbsp;Deutsch have collectively invested over $7&nbsp;million in shares of AIM stock. They have each held their shares for several
years and are collectively AIM&#146;s largest stockholder. They have put almost $6&nbsp;million more into their efforts to bring accountability to the incumbent Board, bringing the collective investment to almost $13&nbsp;million. They have invested
much more, and hold more shares, than all of the incumbent Board members combined<B>. </B><B><U>The Kellner Group&#146;s motivation is solely to improve AIM&#146;s performance and create value for all stockholders</U></B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Kellner has disclosed a typical intent to seek reimbursement of expenses that are being incurred for the benefit of all stockholders (<I>unlike the
much larger expenses already incurred by the incumbent Board&#146;s self-interested entrenchment campaign that have been paid by AIM to the detriment of stockholders and without giving them any say in the matter</I>). The estimated amount of these
expenses is approximately $6&nbsp;million.<SUP STYLE="font-size:75%; vertical-align:top">1</SUP> These expenses would be much, much lower if the incumbent Board had not engaged in a wasteful bad faith entrenchment effort in violation of its
fiduciary duties. The Kellner Group also intends to seek to recover expenses from the incumbent Board members personally. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Kellner Group will seek
reimbursement in a manner that is consistent with its fiduciary duties (<I>again, this is unlike the incumbent Board, which engaged in gross waste in violation of its fiduciary duties and caused great harm to AIM and its stockholders in the
process</I>). We understand that the Company&#146;s financial condition does not allow for immediate payment and have no intention of worsening the Company&#146;s insolvency. At a minimum, we would seek reimbursement in installments over a <FONT
STYLE="white-space:nowrap">two-year</FONT> period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We believe we can vastly improve AIM&#146;s financial condition and prospects, and that it is fair and
equitable to be reimbursed for funds spent to create benefits for all stockholders. <B><U>Someone needed to stand up to Equels and the incumbent Board&#146;s years of bullying and intimidation and finally put an end to their reign of value
destruction and self-dealing, and the Kellner Group is doing just that</U></B><B>.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unlike the incumbent Board, who have wasted vast amounts of
company funds attacking anyone threatening their seats, we have already demonstrated our commitment to fighting for stockholders and the future of AIM by using our own funds to provide stockholders with a real choice and to protect the
company&#146;s best interests. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>AIM Cash Conservation Plan is Completely Inadequate and Exposes Perilous Financial Condition </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The incumbent Board has been engaging in gross waste in their self-interested entrenchment campaign and it has resulted in a lack of clinical progress and
viable long-term financing options, rendering AIM functionally insolvent. Near-term obligations, including $4.9&nbsp;million of unpaid legal bills from its entrenchment campaign against the Kellner Group and $2.6&nbsp;million of the current portion
of the usurious note payable to someone the SEC called a &#147;recidivist violator of the federal securities laws,&#148; exceed its available resources.<SUP STYLE="font-size:75%; vertical-align:top">2</SUP> <B><U>The incumbent Board put AIM in this
position by spending an estimated <FONT STYLE="white-space:nowrap">$15-20</FONT></U></B><B><U></U></B><B><U>&nbsp;million on a <FONT STYLE="white-space:nowrap">2-year-plus</FONT> campaign to entrench itself and prevent a meaningful stockholder vote
on the election of directors &#150; this was a conscious decision by the AIM Board to stay in control at all costs</U></B><B>.</B><SUP STYLE="font-size:75%; vertical-align:top">3</SUP> </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:75%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Refer to the definitive proxy statement filed by the Kellner Group with the Securities and Exchange Commission
(the &#147;SEC&#148;) on November&nbsp;6, 2024 (the &#147;Proxy Statement&#148;), pg. 27. </P></TD></TR></TABLE>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:75%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">See the Condensed Consolidated Balance Sheets and MD&amp;A included in the Company&#146;s Quarterly Report on <FONT
STYLE="white-space:nowrap">Form&nbsp;10-Q&nbsp;for</FONT> the quarter ended September&nbsp;30, 2024 filed with the SEC on November&nbsp;14, 2024 (&#147;2024 Third <FONT STYLE="white-space:nowrap">Quarter&nbsp;10-Q&#148;).</FONT> See also the Proxy
Statement, pg. 15. </P></TD></TR></TABLE>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:75%; vertical-align:top">3</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Represents Kellner Group estimate based on increase in Company&#146;s G&amp;A expense from 2021 to 2023 and
explanations provided as disclosed in AIM&#146;s Annual Reports on <FONT STYLE="white-space:nowrap">Form&nbsp;10-K&nbsp;for</FONT> past two years, together with continued elevated G&amp;A expenses in 2024 to date as disclosed AIM&#146;s most recent
Quarterly Report on <FONT STYLE="white-space:nowrap">Form&nbsp;10-Q.</FONT> </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Last week, AIM announced a cash conservation plan. This signifies the dire financial situation AIM is in,
and how very desperate the AIM directors are in trying to keep their self-enrichment scheme intact. This <FONT STYLE="white-space:nowrap">so-called</FONT> plan, in which AIM&#146;s directors say they will take their retainer fees in equity rather
than cash<SUP STYLE="font-size:75%; vertical-align:top">4</SUP>, amounts to only approximately $30,000 in savings per month.<SUP STYLE="font-size:75%; vertical-align:top">5</SUP> Over the course of a full year, this minor reduction will not even
equal the $500,000 in full bonuses paid to Equels and Rodino in May 2024 without any explanation.<SUP STYLE="font-size:75%; vertical-align:top">6</SUP> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>This is not a real plan to address the very serious near-term challenges that AIM faces. </U></B>It is a drop in the bucket as the incumbent Board
continues to burn cash in its wasteful entrenchment campaign, including by continuing to pursue the Florida Section&nbsp;13(d) litigation despite multiple dismissals and sanctions against AIM and its counsel. In the Board&#146;s self- interested
effort to keep control, they continue to attempt to distract and mislead stockholders, including by making bad faith, grossly mischaracterized public disclosures about confidential settlement discussions &#150; under which they are willing to pay
any amount of money to keep their majority control and get liability releases. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>AIM Stock Price Has Declined 99+% </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The incumbent Board continues to put out shockingly false and misleading statements about AIM&#146;s stock
price.<SUP STYLE="font-size:75%; vertical-align:top">7</SUP> <B>It is a public fact that the</B> <B><U>AIM stock price has declined by over 99% since the incumbent Board took control in 2016.</U></B> Yet, the incumbent Board is attempting to say
that an unadjusted price from 2016 that does not give effect to reverse stock splits disputes this &#150; but this is delusional, dishonest, or both. When the incumbent Board refers to a <FONT STYLE="white-space:nowrap">pre-split</FONT> share price
of $0.16 in March 2016, this is an inherently misleading attempt to deceive stockholders in material way. A very tiny fraction of a current AIM share (1/528<SUP STYLE="font-size:75%; vertical-align:top">th</SUP>) traded for $0.16 in 2016. But that
is not a relevant measure of AIM&#146;s stock price, which is why the NYSE and other data providers retroactively adjust stock prices to give effect to reverse splits. AIM itself does this in its SEC reports.<SUP
STYLE="font-size:75%; vertical-align:top">8</SUP> This shows that the incumbent Board are the ones &#147;lying&#148; to stockholders.<SUP STYLE="font-size:75%; vertical-align:top">9</SUP> </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The incumbent Board must take responsibility for the tremendous destruction of stockholder value that has occurred under its watch.&#8195;Again, we urge
stockholders to consider what this egregious attempt to mislead stockholders says about the incumbent Board&#146;s honesty and credibility. It is no wonder that they were found to have violated their fiduciary duty of loyalty to their stockholders.
<U>Nothing that the incumbent Board says should be trusted</U>. </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:75%; vertical-align:top">4</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Refer to additional definitive soliciting materials filed by AIM on November&nbsp;27, 2024. With the record
date for the annual meeting having passed, the directors will receive the equity in lieu of cash every two weeks going forward rather than all at once. <B><U>This is in stark contrast to when the incumbent Board award approximately 900,000 fully
vested shares to Equels and Rodino as an advance on a portion of salary for the next year, ahead of the record date and with knowledge of the impending proxy contest</U></B>. Proxy Statement, pg. 18. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:75%; vertical-align:top">5</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Based on annual cash compensation for Board members of $125,000 as disclosed in the definitive proxy statement
filed by AIM on November&nbsp;4, 2024. </P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:75%; vertical-align:top">6</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Refer to Proxy Statement, pg. 18. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:75%; vertical-align:top">7</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Refer to additional definitive soliciting materials filed by AIM on November&nbsp;27, 2024.
</P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:75%; vertical-align:top">8</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Refer to Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for year ended December&nbsp;31,
2016 filed on March&nbsp;31, 2017, Part II, Item 5 (disclosing historical stock prices in the relevant period adjusted for the 1 for 12 split that took place later in 2016). </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:75%; vertical-align:top">9</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">We believe the incumbent Board&#146;s disclosure is a clear violation of Rule
<FONT STYLE="white-space:nowrap">14a-9</FONT> under the Exchange Act, both by making false and misleading statements about AIM&#148;s historical stock price (clearly a material fact for stockholders trying to evaluate the incumbent Board&#146;s
performance) and by impugning our character by claiming we are lying without any basis. </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Incumbent Board is Desperately Trying to Divert Attention from its Epic Failure </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The incumbent Board is also trying desperately to cause stockholders to focus on anything other than their massive failures in destroying AIM&#146;s value,
including twisting the facts to mislead about the Kellner Group&#146;s background and character. It does this by cherry-picking <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-context</FONT></FONT> quotations from prior
legal proceedings. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And it intentionally omits the most egregious fact, which is that the proceedings ended when <B>the Delaware Supreme Court ruled in
2024 that the incumbent Board breached its fiduciary duties. In describing the Board&#146;s adoption of amended bylaws, the court stated that the &#147;</B><B><U>primary purpose was to interfere with Kellner&#146;s nomination notice, reject his
nominees, and maintain control</U></B><B>&#148; and that the bylaws were &#147;</B><B><U>product of an improper motive and purpose, which constitutes a breach of the duty of loyalty</U></B><B>.&#148;</B><I></I><I>&nbsp;(emphasis added) </I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">They also conveniently omit that a federal district court in Florida <B><U>sanctioned AIM and its counsel in 2024</U></B> in its Section&nbsp;13(d) claims
against members of the Kellner Group and others &#150; claims that have been dismissed multiple times &#150; for pursuing arguments that were &#147;<B><U>factually and legally frivolous and</U></B><B><U></U></B><B><U>&nbsp;advanced for an improper
purpose</U></B>.&#148;<I>&nbsp;(emphasis added)</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">It is clear that the entrenched AIM Board will say anything and do anything, no matter the terrible
consequences to stockholders, in their self-interested effort to keep their board seats at all costs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">These are the relevant facts: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Each of the Kellner Group Nominees will bring desperately needed skills, resources, experience and credibility to
AIM&#146;s Board &#150; each of them is an accomplished and respected business person in their field and none of them has any criminal history whatsoever. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">There are no other AIM stockholders or other third parties involved in the Kellner Group&#146;s activities, nor
were there any other AIM stockholders or other third parties involved in Mr.&nbsp;Kellner&#146;s nominations and solicitation for AIM&#146;s 2023 annual meeting of stockholders. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The AIM Board&#146;s tired and pathetic attempt to connect the Kellner Group to Mr.&nbsp;Tudor and Mr.&nbsp;Xirinachs &#150; who have no role whatsoever with
the Kellner Group &#150; is just another misleading distraction from their own fiduciary duty breaches, the plummeting stock price that continues to reach new lows and the desperate financial condition of AIM under their watch. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE KELLNER GROUP URGES ALL STOCKHOLDERS TO VOTE ON THE<U>&nbsp;GOLD</U>&nbsp;PROXY CARD </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TODAY TO ELECT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TED D.
KELLNER, TODD DEUTSCH, ROBERT L. CHIOINI AND PAUL SWEENEY </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>If you have any questions, require assistance in voting
your</I><B><I>&nbsp;GOLD</I></B><I></I><B><I></I></B><I>&nbsp;proxy card, or need copies of the Kellner Group&#146;s proxy materials, please contact Okapi Partners at the phone numbers or email address listed below. Please also visit
<U>https://okapivote.com/AIM/</U> for additional information. </I></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Contact: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Okapi Partners LLC </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1212 Avenue of the Americas, 17th
Floor, </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10036 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Stockholders may <FONT
STYLE="white-space:nowrap">call&nbsp;toll-free:&nbsp;(844)&nbsp;343-2621</FONT> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Banks and
<FONT STYLE="white-space:nowrap">brokers&nbsp;call:&nbsp;(212)&nbsp;297-0720</FONT> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: info@okapipartners.com </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Important Information and Participants in the Solicitation </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Kellner Group has filed a definitive proxy statement and associated<B></B><B>&nbsp;GOLD</B>&nbsp;proxy card with the Securities and Exchange Commission
(&#147;SEC&#148;) to be used to solicit votes for the election of its slate of highly-qualified director nominees at the upcoming annual meeting of stockholders of AIM. Details regarding the Kellner Group nominees are included in its proxy
statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THE KELLNER GROUP STRONGLY ADVISES ALL STOCKHOLDERS OF AIM TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Information regarding the identity of participants in the Kellner Group&#146;s solicitation, and their
direct or indirect interests, by security holdings or otherwise, is set forth in the Kellner Group&#146;s proxy statement. Stockholders can obtain a copy of the proxy statement, and any amendments or supplements thereto and other documents filed by
the Kellner Group with the SEC for no charge at the SEC&#146;s website at www.sec.gov. Copies will also be available at no charge at the following website: https://www.okapivote.com/AIM. Investors can also contact Okapi Partners LLC at the telephone
number or email address set for the above. </P>
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