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I have about 1/5th of what I previously held, I have about 1/5th the confidence in the company that I had before. When and if that grows, so will my holding!!!
Adding to Mods explaination, Avstar currently has no revenue avenue themselves, they rely on Twin Air and their aircraft servicing center as their revenue makers. Avstar is like the "mother ship".
It would be nice to see the day when Twin Air profits can flow directly back into Twin Air itself, I believe Twin Air will be the the backbone of AAVG. Hopefully, management stays on their present path.
Thats the point I was trying to make, if we had some idea of AAVG's present FINS, we could also determine how much revenue from Twin Air would be required to put both Avstar and Twin Air in the black. Then all is profit. With the profits from Twin Air being used for AAVG debt, how much of future revenues will be absorbed into AAVG and not used for Twin Air improvements. Just my thoughts.
I agree, while we already new Twin Air can turn a small profit at present operations, we own Avstar of which Twin Air is a component. What are the figures for Avstar? The most of debt load is on Avstar, not Twin Air. We need to see the big picture.
Nice to see Avstar and Gamber making releases again, maybe shareholders were getting their messages across. Most everything is we already knew, but still nice to see.
Going to need some larger buying volume to get past .0017, NITE has a pile there are I'm sure Etrade will too. Maybe someone will re-think putting their shares at .0017.
We really have no way of knowing if they paid the first fine yet.
DOT Approval isn't coming very soon, before any approval is given a "Show Cause Order" is issued, giving competitors and interested parties time to comment on the application. If a Show Cause Order was issued on Monday, it would still be at minimum 45-60 days before there is an approval and thats if there are no negative comments, which would slow the entire process while they investigate.
All the DTC Chill means is that transfer agents/brokerages can not use the DTC Automated Clearing system, they must clear AAVG through the manual system. Some brokerages like TDA and clearing firms like Pension are not willing to take the extra effort to do it manaually. Also MM's are not allowed to short sell a Chilled stock, they must have shares in hand, borrow or "rent" shares, but they can not short and use the DTC share loan system.
Hope that helps....
So, if they made this decision not to file and save the money, the PR's and emails stating they thought they had an agreement with an auditor and were attempting to catch up with filings and the SEC, were all just deliberate attempts to snow the shareholders?
I'm having a difficult time figuring the company out!
Berry has no Cessna Caravans registered with the FAA.
Email response from Henry, I think it is a positive sign that he is answering more detailed questions.
Here is his response to my questions:
_____________________________________________________________
Hello Bob,
Initially, the company will enter into a lease or lease/purchase of Caravan or other aircraft used for the Naples Connection operation. As operations expand, we will explore other options.
There are no immediate plans to update the websites, but we do plan on updating them.
Please let me know if you have further questions.
Best Regards,
Henry A. Schulle
Vice President, Investor Relations
AvStar Aviation Group, Inc
www.avstarinc.com
___________________________________________________________________
All of the public information concerning the Twin Air Commuter Status application is on the website under their docket. Any other information concerning the investigation process involved would not be available under the FOIL (Freedom Of Information Law). I deal with FOIL's on a weekly basis, anything associated with any investigative process is not considered public record, until complete and then only in certain cases.
Also Twin Air can request that certain aspects of their application process or correspondence be kept confidential, that would have to be granted by DOT.
A number of us here have made inquiries to DOT over the past 6-8 months, you don't get very far.
The going rate for audited FINS for the SEC for a company AAVG's size is about 15-20K. In Dec-Jan, if I had known where this was headed, I would have thrown 1K into a pot to have the FINS done. I bet others would have done the same. Look at what that extra 1K investment might have returned if still a reporting co.
Just my two cents...
My email was mainly about the Cessna Caravans they plan to use. Maybe the other project is some type of alliance to utilize those planes. The Caravans are single engine planes and can likely save $$$$ in maint. cost over using the twin engine planes.
I sent an email early yesterday morning, no response yet. Sometimes takes a few days or more.
They might be trying to pickup shares, but they can't be covering shorts. MM's can't short AAVG due to being on the OTC restrictions. Could also just be a few flippers, which is my guess.
Nothing in my Etrade account either....
I agree Peorge, I ask many questions of this management publically here. I know that members of management read this site, since they have not responded to questions concerning many items, I'll post them here in hope they will get the message.
We have been mislead by this management team, there is absolutely no disputing that fact. Many events took place over the past 7 months or so without them ever disclosing to shareholders. They also clearly intentionally dropped back to pink sheets/non-reporting status. There was a huge amount of time to secure an auditor and file, so the question still remains, why not do so? A question they apparently are not willing to address.
The recent news sounds good and I'm not doubting the validity of the proposal, but it still opens more questions. They state that Cessna Caravan 208b planes will be used. Where will these planes come from? Is there a new alliance we don't know about or will they be leasing planes? Some say Berry will supply planes, well as far as I know Berry doesn't have Caravans. Yet, the suppossed unauthorized George Brown/American Aviation proposal mentions the use of Caravans. They also stated that they will "post" schedules, well they can't post any schedule with Commuter Status approval, which has seen zero action since December.
I find it laughable that when people ask legitimate questions of this company and management they are tagged as bashers or flippers here. But yet, any one who pumps this stock no matter what the company does is OK. Who is really flipping!! If this company wants my trust back, they need to earn it, they haven't done that yet.
Please don't tell if I'm unhappy, sell and get out. Thats not anyones decision but mine. I sold millions of shares months ago in the upper .0020's when the auditor issue came up. I still own this stock and will continue to post what I feel. Really doesn't matter to me who likes it and who doesn't.
I wish the AAVG pond would yield a better catch!! Actually wish I was out fishing, haven't even had time to put the boat in the water this year. BOAT = Bust Out Another Thousand
Sent email to Avstar today concerning a few details of the Naples Connection, mainly concerning the Caravans. Also requested that the Twin Air and Avstar websites be updated.
I'll share when and if I get a response.
Welcome....but don't Bear eat Fish??
One 100K buy all morning, I guess there's no interest in the company, just the flippers that came yesterday. This company needs to take steps to earn back investor confidence. Maybe start with hiring a auditor and releasing audited FINS.
The Macon-Atlanta proposal was also in the news yesterday. This proposal is still out there, this time being reported in a news story.
http://www.13wmaz.com/news/article/188883/153/Macon-Atlanta-Flight-Subsidies-Could-End-in-2013
I looked at that flight/post, must have been some mix up with the Flightaware system or their flight plan. Flightaware had them flying from Florida to South Cariboo, British Columbia. But yet the coordinates on the flight altitude and speed graph puts them in the Bahamas.
Also just found that Jet Blue has intentions of creating a hub at Naples Airport. That could create increased passenger load and more need for local charters giving Twin Air additional passenger load!
http://www.flynaples.com/images/docs/News/NewsPress/2012/jetblue.pdf
On the short term, I agree. But, Berry is presently a charter company, does not have DOT. They are just a very large charter airline. If Avstar makes smart decisions and investments, over the long term, they also could be in a similar position even without DOT. Right now I'm not counting on DOT, so increasing business as a charter makes sense. I never liked citing poss. pps, but those levels could come longer term without DOT.
Avstar just has to keep from mis-stepping again.
I'm still questioning this whole American Aviation/George Brown proposal, especially since it also mentions the use of Cessna Caravans. Something going on we're not being told yet, may be good or may not be....who knows.
We always had some flippers here, seemed to block movement at every run. Also, I'm sure there are some still getting out in case this Naples thing doesn't pan out.
Just looking at it with different outlook and views now.
Well, I said that I would buy back some shares if Avstar "pulled a rabbit out of their hat". I might kick myself in the as* later, but picked some back up. UGGG! The rabbit is only half out of the hat!!
Don't believe Berry has any Caravan's, but either way, the Cessna Caravan 208B is a highly respected aircraft, a workhorse. Much better avionics and sturdier, than the older Twin Egines planes they lease now.
They can fly 4 round trip flights per week. They could easily do 1 million in revenue from the Naples route with the Caravan.
That is also per destination, so it could be more than 4, if flying out of Naples to muliple destinations, it would just have to be non-scheduled charter.
Peeps are asking legitimate questions of a non-reporting company. Very sorry if questions/opinions don't meet some posters views.
I have to admit, it sounds like good news for Twin Air/Avstar. Would like to hear more details as time goes on. Since they don't rent or own single engine Grand Caravans, where will they come from? Are they the same Grand Caravans that George Brown of American Aviation speaks of in his proposal?
So what, they still didn't pay rent, damaging their credit and reputation. They could have sold the parts themselves for a profit and paid the rental before letting it go to a lien/seizure of goods and auction. Looks great for a company image.
Someone is not being honest, the question is which one?
"George Brown, who submitted the second proposal based on plans for his company to acquire Twin Air Calypso, is a retired director of the Macon airport who left about seven years ago amid tension with the mayor over airport operations."
Not fear mongering, it's some posters educated opinions, no difference than your opinions, all have the right to post.
Revenues...Revenues, mean nothing without knowing the true expense level and debt load at the moment, which Avstar is apparently not willing to share.
Lets not forget that Avstar has a loan debt due with full amount to be paid back in September. If they can't afford to pay rental for a few PODS of "unused" aircraft parts, how will they be able to meet those September debts.
Some will say that the decision to let the PODS be seized and sold at auction is a good business decision because they are usused/un-needed parts. I my view, it's a bad business decision.
If the parts are truly uneeded Avstar should have advertised the parts themselves and used the revenue to pay the rental due. This would save the company from having the lien and mark on their credit. Doesn't seem like a smart move for a company with an application with DOT pending, especially an application based on financial health of Avstar. It also could make a unfavorable impression to prospective clients, seeing the Avstar name in relation with a lien.
The choices made lately seem lackluster and like management has given up and are just riding it out until the end, there is absolutely no other concievable reason to give up their OTC .OB status. No audits, no auditor, no information.
Yes, they are flying, but without some healthy intervention what will the future hold.
IMO
Apparently Avstar must have forgotten to notify DOT that in their words, it was a unauthorized proposal and they had no knowledge of the submittal. So, will they let a ficticious proposal go forward?