Harbor Diversified Inc (HRBR)

[wratchitup]

Still here. Have some of my holdings over 20 years when it was a biotech company. Kept buying through the dark years. Very fortunate in how it has turned out so far. Still think there is upside here, more than most think. Good luck to all

[CashCowMoo]

Anyone here get in this stock under .10? You lucky dogs you!

[HEPH]

HRBR case study from Boole Microcap Fund (December 2022) shows upside potential:

https://boolefund.com/case-study-harbor-diversified-hrbr/

[threewheeler]

nice 10Q nothing but upside HRBR

[AgInAustin]

HRBR 10Q is out. Book value continued to increase.

$HRBR BV/share increased from 3.47 to 3.62 this Q. Stock price is at $2.44. AA 5 year agreement is in place. Good place to be in a bear market or if the market improves. My calcs were = total stockholders equity/ # diluted shares. # shares ⬇️

— FredZ (@AgInAustin1) November 22, 2022

[e-ore]

Info on American/Air Wisconsin from twitter

Big news in the regional airline world.

Today, @AmericanAir revealed a new partnership with Air Wisconsin to add up to 60 CRJ200s to its American Eagle portfolio.

This will mark the end of Air Wisconsin flying for United.

Full memo from AA's CFO Derek Kerr below pic.twitter.com/F4WfQEZarb

— Zach Griff (@_ZachGriff) August 22, 2022

[e-ore]

United had already planned to drop 7 Air Wisconsin routes from O'Hare, and United's plans to stop using 50 seat jets (all Air Wisconsin owns) is well known.
Routes to be dropped from O'Hare by United
Bismarck, ND
Jackson, MS
Madison, WS.
Pensacola, FL,
Charlottesville, VA
Lexington, KY
Allentown, PA

https://thepointsguy.com/news/united-airlines-cuts-domestic-routes/

American also has announced route closures
"American Airlines cuts 27 routes"
Whether American will use Air Wisconsin to resume any of them is also unknown
https://thepointsguy.com/news/american-cuts-new-york-exits-ottawa/

[Leslie Salt]

So they will now focus on flights from Chicago, how will this impact their other base operations? How seamless will the transition be? They have to repaint all the planes, new crew outfits, etc.

[e-ore]

American Airlines returning 50 seat aircraft to its lineup is an interesting development. American uses Envoy Air for it's regional flights out of O'Hare, and Envoy flies larger aircraft. Need a follow up to know whether American is going to take over the routes Air Wisconsin was flying for United. It's a disruptive event for the regional airline industry, imo

[AgInAustin]

Huge news. HRBR now has a future which I feel is what has been holding the stock down. Will be interesting to see how much the stock moves.

[e-ore]

Air Wisconsin switching to American from United.
"On August 19, 2022, Air Wisconsin Airlines LLC (“Air Wisconsin”), which is an indirect wholly owned subsidiary of Harbor Diversified, Inc. (the “Company”), entered into a new five year capacity purchase agreement with American Airlines, Inc. (“American”), pursuant to which Air Wisconsin has agreed to provide up to 60 CRJ-200 regional jet aircraft for regional airline services for American (the “Agreement”). The capacity purchase agreement currently in effect between Air Wisconsin and United Airlines, Inc. is expected to terminate in accordance with its terms."
http://archive.fast-edgar.com/20220822/AA2L2G2EZM2RNZZK222G2ZYKCB3DZZ22Z242/

[Vipyr]

Yea i was wondering. Been out for awhile myself. Taking too long. Still hanging tight in SY*X waiting on the 8k

[i_like_bb_stock]

Nope sold it all about a month plus ago had it for a long time but it still looks decent

[Vipyr]

Are you still in this one BB???

[AgInAustin]

Thanks for sharing that link. I continue to believe that HRBR is undervalued.

[JDCruz]

HRBR featred in Microcapdaily: Harbor Diversified Inc (OTCMKTS: HRBR) Air Wisconsin Airlines a Microcapdaily Top Runner (More on United Capacity Purchase Agreement 02/2023 & CBA Amendable Dates for HRBR Union Employees Starting 09/2022) https://microcapdaily.com/harbor-diversified-inc-otcmkts-hrbr-air-wisconsin-airlines-more-on-united-capacity-purchase-agreement-0-2023-cba-amendable-dates-for-hrbr-union-employees-starting-09-2022/

[judgeybrown]

I sold at 2.10 and didnt think otc would be this dead this long. But, happy to watch hrbr lead the path upwards.

[wratchitup]

He had 400K shares…

[e-ore]

There was a Harbor Biosciences investor who took them to court to get a valuation for his shares

https://courts.delaware.gov/Opinions/Download.aspx?id=301530

[wratchitup]

I would have to say no. No individual had anywhere near that amount of stock.

There was a bylaw passed when the company went dark that no individual or group of individuals could own 5% of the outstanding common. What they purchased was way more than 5%.

What happened to the guy on Twitter that did all of that good DD? Not a peep out of him for quite awhile…

[e-ore]

My guess would be from one of the investors in what was Harbor Biosciences

[wratchitup]

Boy is this board quiet! Stock is in a nice uptrend and not a peep out of anybody.

Anyone have an idea on who they bought the large block of stock from?

[i_like_bb_stock]

yes and the range has been in a tight range for quite some time

[AgInAustin]

I agree that HRBR should be higher. They are clearly hiring and planning to stay in business. Air travel is almost back at 2019 levels. Could easily get 100% return from here with very, very low levels of risk.

[i_like_bb_stock]

We should be much higher !

[The_Edge]

Very nice q
Should be trading around 5 bucks imo

[i_like_bb_stock]

Got the classification code fixed to Transportation was still the old one

[i_like_bb_stock]

Looks like they purchased about 130k shares at roughly $2.4
per share

[i_like_bb_stock]

We should see a nice move tomorrow!

[i_like_bb_stock]

Dang it gotta post a few times not a mod anymore didn’t realize it

[i_like_bb_stock]

huge 10q out Friday wow
Book value up to $2.95/sh
72m revs trading under 2x p/e
36% over last qtr eps up 78%
Book value up 21%

https://www.sec.gov/ix?doc=/Archives/edgar/data/899394/000119312521328264/d211059d10q.htm

https://static1.squarespace.com/static/60b10032d9880e171cd0a7df/t/618c0949f4faa734f04a3347/1636567369168/Tack-Capital-HRBR.pdf

[Vipyr]

Outstanding! Wonder what the future holds here, but I have got to imagine that eventually they will remove themselves from the pinks and the OTC all together? Thoughts?

https://www.otcmarkets.com/filing/html?id=15351362&guid=Ws3wk6fOuPwfJth

[daiello]

Great earnings!

Book value now at $2.95, a 21% increase vs June's report.

EPS at .51, a 78% increase vs last quarter.

Revenues for last quarter grew 36% and nearly overtook it's best Quarter ever, Q3 2019.

[wratchitup]

Earnings are out

[AgInAustin]

Really nice analysis here:

https://www.tackcap.com/research

Supports the substantial upside outlook for this stock (with very little downside risk). Looking forward to the quarterly report and the increased air traffic that is happening.

[AgInAustin]

HRBR should be posting earnings soon. Seekingalpha indicates that they will post their earnings tomorrow. Share price sure has been sinking lately. I hope the earnings give it a boost. We don't really need revenue and earnings increases, though that would be nice. This is a value play primarily and as long as nothing unexpected happens, that value should eventually be discovered. It is obvious that they are planning for the future and liquidation appears to be off the table.

[e-ore]

Looking forward to a good week upcoming for HRBR

[Leslie Salt]

Thanks for your diligence.

[wratchitup]

Ok thanks for that clarification. One issue is we won’t know till it’s too late to become registered. The results come in after 1-01-22 so knowing managements history for many years I urge anyone who shares these concerns to become registered. I personally have almost 40 of my family members and friends that are direct registrants.

[AgInAustin]

Actually, on the twitter poll @twoandtwenty_ posted:
=======
Ya @capy_capital can explain, you just need a printed stock certificate. Everyone can request one for like $2 if it actually comes down to this =(don’t think it will).
=======
So, he is aware.

[AgInAustin]

Thanks for the summary. I will respond to the twitter poll with the information from your post.

[wratchitup]

I listened to the meeting which lasted an entire 5 minutes. Christine was the only voice heard and the election of the BOD was the only matter addressed. Same thing as last year. So to say they are at all interested in minority shareholders like us is laughable at best. If they ever get the chance to take this dark again, I think there is a good chance they will. As long as there are at least 300 direct registrants they must continue to file. One is not a direct registrant just because they own 100 shares at TD Ameritrade or any other broker. To become one all one has to do is transfer 1 share from their brokerage account to their personal name at the company’s transfer agent, which is American Stock Transfer. Call your broker and they can assist you or I can post instructions if anyone would like. This must done by 12-31 to be considered a direct registrant for this year. One can also transfer a share to other family members to increase the overall count.

The guy doing all the nice DD on HRBR should be made aware of this. He took a poll on Twitter to see how many people held stock. Again those holding shares at a particular brokerage are collectively considered 1 direct registrant so that poll is meaningless . So if anyone has a way of contacting him please do so, so he can maybe get this info to a wider audience.

[judgeybrown]

Yea, i was hoping for an opp to ask questions or have a convo.
I live nearby appleton and the headquarters so i was first hoping for an in person shareholder meeting offer.
Wait and see..

[AgInAustin]

Yeah, I saw the 8k. Just stating the election of 3 directors and stating that the company is not required to comply with certain disclosure requirements typically applicable to public reporting companies....

Ugh.

[judgeybrown]

I missed the meeting. Went back to look it up and couldn’t find it either. So, idk. I see MarketScreener has an 8k 9/13 showing info on the meeting, but idk where it was actually held.

[AgInAustin]

I did not see the proxy information. Did you tune in to the annual meeting and is there are replay available? I don't see one on virtualshareholdermeeting.com.

If you saw it what did you think?

[wratchitup]

http://www.flyingmag.com/story/news/air-wisconsin-air-cargo

[judgeybrown]

Anyone else get the voting papers in the mail. Showed 20mil shares owned by Amun LLC - Richard Bartlett ; so, i kinda remove that from trading float and that makes the % they are returning to treasury that much higher. Also the shareholder meeting virtualshareholdermeeting.com/hrbr2021 9/8 3pm eastern

[rordreds]

Outstanding shares (54,139,833) dropped another 130K from 6/30/2021 10Q, as of 8/3/2021.

[e-ore]

HRBR soliciting cargo inquiries on the airwis website:

"To contact Air Wisconsin Airlines about Cargo flying sales and other cargo inquiries, please email us at [e-mail]."

https://www.airwis.com/contacts.html

I'm not a subscriber so can't see the full article. This is from cargofacts.com:

Air Wisconsin ventures into freighters with CRJ200SF
by Charles Kauffman and Jeff Lee
September 1, 2021
in Carriers, Freighter Conversions

"U.S.-based regional carrier Air Wisconsin has added its first freighter, a CRJ200SF (7417, ex-ExpressJet Airlines) converted to freighter configuration by Aeronautical Engineers Inc. (AEI), and will soon offer the aircraft for charters and long-term wet leases. Air Wisconsin told Cargo Facts that, even though it historically has only carried a small amount of belly freight..."

https://cargofacts.com/allposts/carriers/air-wisconsin-ventures-into-freighters-with-crj200sf/