JOSIAH24
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RITE 0001 x 0002 volume
MGDC 0005 going
MDGC 0005 something could be coming here
Sold some myself
BRNE 0008 x 0009 on watch for next week
EMBR 0031 could run huge from here
DKGR 0004 1B A/S won’t last long here 001 very soon
MAXD 0002 VOLUME 10Q 21 mil left
MAXD 0002 filing out volume one to watch this month
Let’s see what happens today and next week
CBC News in Canada said that there is an investigation that west Jet tried and interfere.
The company says it has been difficult to engage investors because they believe WestJet Airlines, which owns discount carrier Swoop, will "react very aggressively once the company starts operations, and in fact have already done so in anticipation of Jetlines' entry into the market."
As a consequence, it plans to reduce activities until the Competition Bureau finalizes its investigation into WestJet actions.
Canada Jetlines says a market analysis it retained has found evidence that Swoop is pricing significantly lower than other discount carriers and below avoidable costs on the routes identified by the Competition Bureau investigation.
WestJet denies allegations of interference
In an email to CBC News, a spokesperon for WestJet said it "refutes these allegations and will not provide comment on this competitor's business matters."
Canada Jetlines says it plans to conserve cash by laying off most employees except a core team led by the executive chairman, Mark Morabito, who will continue meeting with investors trying to secure financing.
Chief executive Javier Suarez has resigned effective immediately along with board member Zygimantas Surintas.
"It is very unfortunate that we have to postpone our launch date," said Morabito. "We have built as much as anybody can without access to more capital. We have invested in bringing on board the most talented people who have done an incredible job putting together our operations manuals and systems, our brand, website and all other commercial components needed for launch."
CBC News in Canada said this about JETMF
The company says it has been difficult to engage investors because they believe WestJet Airlines, which owns discount carrier Swoop, will "react very aggressively once the company starts operations, and in fact have already done so in anticipation of Jetlines' entry into the market."
As a consequence, it plans to reduce activities until the Competition Bureau finalizes its investigation into WestJet actions.
Canada Jetlines says a market analysis it retained has found evidence that Swoop is pricing significantly lower than other discount carriers and below avoidable costs on the routes identified by the Competition Bureau investigation.
WestJet denies allegations of interference
In an email to CBC News, a spokesperon for WestJet said it "refutes these allegations and will not provide comment on this competitor's business matters."
Canada Jetlines says it plans to conserve cash by laying off most employees except a core team led by the executive chairman, Mark Morabito, who will continue meeting with investors trying to secure financing.
Chief executive Javier Suarez has resigned effective immediately along with board member Zygimantas Surintas.
"It is very unfortunate that we have to postpone our launch date," said Morabito. "We have built as much as anybody can without access to more capital. We have invested in bringing on board the most talented people who have done an incredible job putting together our operations manuals and systems, our brand, website and all other commercial components needed for launch."
The bounce with my average down helping a bit here
That is what I am hoping that the investigation comes trough in our favor or they go in a different direction that causes the stock to go higher is not worth to sell at huge loss like this
I bought 20k shares at 0.35 to average down for a hope of a run in the future to 8 to 10 I will still lose money , I got kicked on this one
I don’t know but most likely there will be a sell of , At this point I will hold what I have it doesn’t make sense for me to sell it
News not good they didn’t get financing for now they have re evaluate everything for future possibly
They halted it to prevent a huge sell of
VANCOUVER, British Columbia, Oct. 28, 2019 (GLOBE NEWSWIRE) -- Canada Jetlines Ltd. (JET: TSX-V; JETMF: OTCQB) (the “Company” or “Jetlines”) postpones launch date until Competition Bureau defines its position.
The Company advises that it has not satisfied the financing condition to secure $40 million in financing in addition to the funds committed by SmartLynx. As a result, SmartLynx and InHarv ULCC Growth Fund have exercised their rights to terminate their investment commitments. The Dec 17, 2019 Launch date will need to be postponed and the Company will not pay additional deposits and will therefore not receive their first two Airbus 320 it has planned to receive in November this year. No further date will be announced until funding is secured.
One of the principal concerns encountered by Jetlines team while engaging with investors is that they believe the existing dominant members of Canada’s aviation duopoly will react very aggressively once the company starts operations, and in fact have already done so in anticipation of Jetlines entry into the market. Specifically, Jetlines retained market analysis experts that concluded there is ample evidence to state that:
Swoop is pricing lower than other airlines, and significantly lower than the other ULCC entrant serving Canadian and transborder passengers;
Empirical evidence suggests that Swoop is pricing below avoidable costs on the routes identified by the Competition Bureau in their current investigation;
Empirical evidence suggests that Swoop is pricing below avoidable costs on routes other than those identified by the Competition Bureau in their current investigation;
Qualitative analysis of changes in service illustrates Swoop / WestJet’s rapid increase in capacity beyond what economic sense might dictate;
After Flair discontinued service to and from Hamilton, ON, Swoop maintained higher prices on the routes where Flair discontinued service than their other routes; and
Although Jetlines’ avoidable costs will be lower than Swoop’s, empirical evidence suggests that Swoop is pricing below Jetlines’ avoidable costs as well — and is attempting to deter entry by Jetlines on its proposed routes.
In the opinion of Jetlines management and its retained experts, the above factors all amount to an abuse of dominance. Senior representatives from the Company’s management team made multiple appearances before the Competition Bureau between January and July 2019.
An Air Protest was staged in the month of July to motivate the Competition Bureau to define its position on the current investigation the Bureau is conducing on WestJet and Swoop. The Company believes further consolidation in the Canadian Airline Industry is making the market opportunity even bigger and has confidence in raising the money once there is a firm position by the Competition Bureau.
In order to conserve cash, the Company will lay off most employees except for a core team lead by the Executive Chairman who will continue meeting with investors trying to secure financing. The Company intends to rehire employees again once proper funding has been secured. In addition, the Company’s CEO, Mr. Javier Suarez, has tendered his resignation effective immediately. The Company will begin the process to identify a replacement CEO. Mr. Zygimantas Surintas has also tendered his resignation as a director of the Company.
Most contracts signed for airline systems have been put on hold and will be ready to be restarted once the airline is ready to launch. Similarly, all the manuals that have been submitted to Transport Canada in order to obtain the Airline Operators Certificate will be kept and updated as required.
Mark Morabito, Executive Chairman comments, “It is very unfortunate that we have to postpone our launch date. We have built as much as anybody can without access to more capital. We have invested in bringing on board the most talented people who have done an incredible job putting together our operations manuals and systems, our brand, website and all other commercial components needed for launch.”
The Company also confirms that, further to its press release of October 8, 2019, the total amount of debt settled through the issuance of 738,094 shares is $195,595.
About Canada Jetlines Ltd.
Canada Jetlines is set to become Canada’s first true Ultra-Low Cost Carrier (ULCC) airline, with plans to operate flights across Canada and provide non-stop service from Canada to the United States, Mexico and the Caribbean. The Company plans to commence operations with the Airbus A320 fleet, the most widely used aircraft for ultra-low cost carriers worldwide. Jetlines is led by a board with extensive experience and expertise in low-cost airlines, start-ups and capital markets. The Company was granted an unprecedented exemption from the Government of Canada that will permit it to conduct domestic air services while having up to 49% foreign voting interests.
Jetlines ability to sell tickets and launch airline service remains subject to the completion of the airline licensing process, the receipt of applicable regulatory approvals and the completion of financing.
For more information on Jetlines, please visit our website at www.jetlines.com.
ON BEHALF OF THE BOARD
"Mark J. Morabito"
Executive Chairman
Canada Jetlines is part of the King & Bay group of companies. King & Bay is a merchant bank that specializes in identifying, funding, developing and supporting growth opportunities in the resource, aviation, and technology sectors.
MMMW 0097 67 MIL A/S with 500k at 01 watch for hits there news out
MMMW 01 don’t sleep 67 MIL A/S they will fall keep on watch news out
MMMW 0099 keep on watch this thing will run buy some and watch 67 MIL A/S
MMMW 01 67 MIL A/S News out patented solar this thing could hit 10 cents or more
MMMW 0078 x 009 NEWS OUT 67 MIL A/S Solar 15 cents short term imo
MMMW NEWS 0078 x 009 only 67 MIL A/S Patent solar this could go to 15 cents short term
MMMW 0078 has news today 67 MIL A/S on watch
A delay on financing for now
Traders just need to be told here and the mass will follow good time to add here
Yea this only 67 MIL A/S with more to follow this can easy see 10 to 15 cents short term
What’s up with these greys are they getting some hope I see a few getting volume
INQD 0071 and MMMW 009 67 MIL A/S
Imo company will update very soon 67 MIL A/S is nothing
MMMW 0077 67 MIL A/S May want to get a position company has applied for solar patent and is on verge of greatness 05 to 10 not out of the question here
INQD 0075 now
INQD 0074 nice going
INQD 0056 going QB stock
EMBR 004 Now
You have send me a message from now on I am in full mode
STHC 0006 x 0007 thinking big here
STHC 0006 x 0007 FYI
STHC 0005 x 0006 watch for hits here
EMBR 004 looks like will test 005