Shannon International Inc. (Shannon) holds investments in oil and gas and technology. The Company has invested in the acquisition, development and production of natural gas and coal bed methane properties. Shannon's subsidiary, Logical Sequence Incorporated (LSI), is a developer of integrated software applications for the automotive industry. LSI's legacy product, the TIM system, runs in over 300 dealerships across Canada. The Company's installed products are for auto dealers that choose to host automobile management solution on their own in-house server. The Company has an interest in non-producing properties in the province of Prince Edward Island, Canada. On September 22, 2006, Shannon entered into agreement with Maxim Resources, Inc. to sell Maxim Resources Inc., a 50% working interest in all the rights, title and interest in Prince Edward Island oil and gas permits.