Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
The filing was on here previously, it lists :
American Aviation Inc d/b/a Twin Air Calypso
That means that American Aviation either owns or has a partnership in Twin Air (which one remains a mystery). Since American Aviation in filing acted as signatory for both, I would guess American Aviation is controlling Twin Air in some respect.
A d/b/a is filed when an individual or company operates a business under a name other than their legal individual or company name. It is normally needed to allow legal and financial activity under the d/b/a name.
So in some respect, American Aviation has a legal interest in Twin Air. Again, what that means to Avstar is an unknown. It is a shame that Avstar has not mentioned this, but as now non-reporting, they are not required to do do.
Seeing that American Aviation has filed paperwork at least indicating that they have acquired, or have interest in Twin Air, IMO Twin Air's original DOT application will be null and void since it doesn't any longer contain all factual information.
A revised application will likely be needed.
Sure looks to me like Twin Air is being acquired, but question is, wheres that leave Avstar. Everyone must remember, we didn't buy shares of Twin Air, we bought Avstar. Twin Air can go bye-bye, without any benefit to shareholders. Where does that then leave Avstar? Hmmmmm, did they drop back to non-reporting status for a reason?
Recent events by Avstar are not those of a company forging ahead, they are those of a company falling back.
I predict that Twin Air is acquired at no benefit to Avstar shareholders (but keeping Gamber and friends afloat), then Avstar either just fades away or files BK. IMO
Also with this recent DD, I'd say DOT will be a dead issue unless there is re-filing. Legal filings talking acquisition is a game changer for DOT. I've been travelling this week and can't look now, but I believe there was a previous denial for the very same or like issue.
Is Brown the DOT expert that Twin Air has on board?
You mentioned AAVG tapping Berry's DOT status, I've never been able to find where Berry has ever applied for Commuter Air Status. I believe Berry is only a Charter Service, a very large Charter Service, flying to a number of different locations, mainly at the request of sports teams and entertainers. Then there's the military/government contracts, which I'm sure carry and exemption from DOT rules. Also, another air carrier can not just tack onto another DOT authorization, it's not allowed by DOT rules.
Avstar created the negativity you refer to, some here (including me) are not willing to pump this stock, when we know a number of facts show that this company is having serious issues.
Well DOT has not rejected the application (yet), but something is not right.
My big question is Gamber, whats up there? has be gone underground or something. He has not answered phone calls or emails in months and has also apparently not addressed issues concerning the health of his company.
Don't hold your breath, I doubt anything comes out. They will quietly let their filing date pass. Nothing will come out until they are bombarded with emails again. Then we will see another PR stating that they are working on something to rectify things and will release info soon.
I think that have a script..
I have a bunch of emails from months back, they all say basically the same thing.......more news later!! Except later never comes.
There will be more jumpers and each time there are jumpers the recovery will be lower and lower. Without good news, this is destined to be a triple zero play.
Some will wait for DOT, the only saving grace right now. But who knows what DOT has uncovered, why are they holding? Avstar brought on a person months ago to work on DOT, really?, how's that going?, or was that just another story...because we haven't even seen the required updates to DOT. Did they even pay their fines for overflight violations, all unknowns.
Those previous documents submitted to DOT last year have no bearing on present day conditions. I asked the question about present employee levels, because I know for a fact that there have been changes.
I can see not answering about any pending business deals, if there are any, but there is no reason not to be straight forward about the auditor, the number of employees they have or whether they are on track to file financials.
I'm assuming since they didn't mention financials at all to anyone, we won't see any.
The same ole' they can't release anything now, but will have something soon, seems to have been a common theme for a very long time. The problem is, those releases seem not to come, at least not with good news.
Since you mentioned DOT filings, the rules are very clear about the applicant being responsible for keeping DOT updated on changes from the original application, Avstar has not updated DOT on anything, so I doubt there will be any DOT approval until they get their crap together. Avstar is their own worse enemy.
Should it be a secret, how many employees they have or if they've brought on an auditor? No, we absolutely should know these things.
So yes, I would expect an answer, oh wait, they are no longer a reporting company so technically they don't have to release any company info.
I also received a email from Henry, he really didn't answer any of my specific questions, which were:
Present staffing levels?
Is there an intention to stay in the PK status?
Status of agreement with an auditor?
Any new business to increase revenues?
This is Henry's response:
__________________________________________________________
Hello Robert,
I can confirm that we are working on a couple of projects, but cannot go into detail at this time. We should have something to report shortly.
Thank you for your interest in and support of AvStar Aviation Group. Please let me know if you have further questions.
Thank you
Best Regards,
Henry A. Schulle
Vice President, Investor Relations
AvStar Aviation Group, Inc
www.avstarinc.com
I sent one about 4 days ago now, no response yet..
If the company issues audited financials, whether to the SEC or not, it should tell the story of company health. The important thing right now is revenues vs liabilities. We can't tell company health just by their revenues.
If no financials are released, then I personally will assume that the company is in poor financial health. No company is going to withhold financial info when they are doing well.
I have never received any answer in the past few months when asking via email if liabilities were up over the past year.
Plus, we also know that there are additional notes due to be paid in full in a few months.
Hopefully, the audited financials are released and show a relatively healthy Avstar. I fear Twin Air is carrying the burden of Avstar's liabilities. With their limited flight ability now, that can not continue.
Avstar may release unaudited financials and stay PK. I don't see the filing with the SEC happening since they have not brought on a SEC qualified auditor to this point (no 8K) as required if filing to SEC. We also know as of last email, no agreement with an auditor was reached, but they were working on one.
I sent an email to Henry over the weekend with some specific questions. One questions was ; "do you intend to stay PK for the time being?"
Other questions concerned staffing levels, these important last week meetings he supposedly talked about, and of course auditor questions.
No response yet.
I'll go Peorge, can you stop in NY and pick me up!!!
I also seem to remember the statement that a few of the leased planes were going to be used as "part" planes to make others airworthy. Not sure about that one, could be a different company I'm thinking of.
and thats why I'm thinking that Avstar needs to clean up their act a bit, so a Berry deal can happen!
There is no question that "if" they get DOT, they can't operate with the planes they presently have. They would need more capability and in my opinion, newer planes.
This is one of my unaswered questions, I never got a response.
Why enter into a contract to leased planes that some are basically not air worthy at time of lease, with some strange end of lease stipulations about all planes having a Air Worthiness Certificate?
Does the Aztec agreement list a monetary lease? I always thought that the two companies had some type of shared service agreement where Aztec would fly freight and Twin Air would fly passengers, but this has only been my opinion. I think this because the plane that Twin Air has from Aztec, was their only passenger plane. The other two remaining Aztec planes are older twin engine freight haulers.
Actually, the contract with Air Charters (Langston) list 7 planes being leased (whether used or not) to Avstar.
7 planes at $2,150.00 per month each = $15,050mo or $180,600yr
Registration Numbers
(Cessna 402C)
N528FA, N767PA, N441P, N524FA, N524FA
(Piper PA-31)
N146DC, N49RB, N456M
Lease from January 2010 for a term of 5 years, approx 2.5 years remaining.
The fact that Gamber and Langston are good friends is my point exactually. Also, without audited financials, how do we know Avstar is doing better? If they file before or on the 30th, we'll know.
Any leases from additional companies would be extra.
Nope, no response, not that I thought there would be. But, it's always worth a try. Actually it was about a month ago that I tried.
Already did...
If anyone would like to contact Berry Aviation and ask what if anything is in the works with Avstar, here's their contact info.
Sonny Berry - Owner
Harry Berry - President - Director of Operations
Stanley Finch - Secretary
Ph. 512-353-2379
Someone has talked about, or has there been a PR talking about Berry buying Avstar? Please post, or comment that it's your opinion.
Is there a reference somewhere to Gamber and Sonny berry being long time friends? Please post.
Not new MM...just another symbol for Etrade, I see ETMM is gone. Might have switched to due to the PK status, I know some of my other pinks come up with the same Etrade MM symbol.
Maybe just balancing out the pumpers..lol
Anyone that thinks Berry will dirty their reputation by involving themselves with Avstar, who now has a proven track record of not being able to follow rules or regulations, lives in la-la land. Berry has a spotless reputation with government contracts and authority to assist the military for covert transports. I'd say Berry will keep their distance.
Also, now that Avstar is PK, it's really no benefit for Berry to use them to go public. IMO
Company is back on it's feet? Without financials thats a pretty broad statement.
Consider this, Langston and Gamber both had interest in Twin Air (before the sale to Avstar). Avstar now owns Twin Air, Gamber becomes CEO (likely as part of some deal), Langston holds the long term leases on planes, most of which sit in mothballs, unrepairable, but still in the payment schedule.
What happens if Avstar can no longer keep up lease payments? Do the planes go back to Langston, or is some other deal worked out?
IMO, the stage was set some time ago....
I realize that being PK, non-reporting at the moment that there is no requirement to file an 8K, if an auditor is brought on. By Henry's own email, they haven't formed an agreement with an auditor yet. By being PK, there is no requirement for Avstar to even file financials, an option we must consider might happen. Avstar would simply then be a non-reporting company.
I have put together a binder on Avstar (as I do on some of my holdings), it's basically all of the history and events I can find on the company and it's mergers, alliances, associates, past owners, financials, etc, etc.
With all of the info that I have, I have formed an opinion that at some point in the future, Twin Air (not Avstar) will be sold out to or taken over by Langston with Gamber involvement as an LLC (Langston already has a newly formed, unused LLC) waiting in the wings. Remember who holds the leases to the planes.
This is strickly a personal opinion and should not be the basis of any trading decision. Other than some connections, I have NO facts to base this opinion.
Since Henry is not the CEO and is responsible for dealing with shareholders, I'm sure she has no problem sharing his emails, he never had a problem in the past.
Seeing that your email contains very different information than the rest of us have been receiving, I believe it's important to post the info.
I'll contact Henry on Monday to verify that posting his emails which we receive is OK.
I don't think anyone else answered this for you.
Early this year, Avstar closed their Texas Corporate Headquarters and moved it to the Florida location. They claimed that they could not port the corporate phone number to Florida, so it was abandoned. You must use the Reservation number for all inquiries.
About 5 months ago they promised to update the address and phone number on the website. I thought that they did update the phone at some point, but never changed the corporate address. At least not on the Avstar site.
I think the only thing relevant to some here is the ability to flip shares.
I thought that Gamber said in a company update this year that the Cuba approval was in the final stages. Must have been the semi-final stages.
While technically your right, Filing with the SEC is not a requirement for DOT Approval. IF Avstar had filed as a non-reporting company, they would certainly not be required to file publicly. But at the time Avstar made their application, they made it as a fully SEC reporting public company. By not reporting financials, by not reporting the departure of the auditor, and not responding to the SEC questions, they violated federal rules.
The big unanswered question is, what affect will the non-reporting have on the application when coupled with the two overflight violations. Will the DOT start thinking that Avstar is not responsible enough or sufficiently organized to operate a Commuter Airline?
It's pretty clear in DOT Applicant rules, that the applicant is responsible to update DOT pursuant to changes/updates in their application. We have seen no update from Avstar/Twin Air concerning, change of headquarter address/phone, departure of personnel, change in reporting status or change in operational aircraft. These are some of the changes since their original application.
Oh there's plenty of violations, all over for charters. But, not that many for companies that have applications to DOT pending. Twin Air did figure into their projections for this year that they would be flying an extra 107 flight hours per month with the DOT approval. At least one other company has been approved after the same violation (one, not two).
It's water over the dam, but IMO, it wasn't worth the overflights. For the few extra flights they probably made, they are now paying significant fines and put their approval at least on the back-burner, if not in jeopardy.
This is all my opinion....for all I know DOT approval could come tomorrow.
I don't think you could use the average here, the overflight issue certainly caused some delay. By their own words nothing could move forward until that issue was settled. It seems like the time frame where there has been no questions or movement at all if a bit lengthy. Hey, maybe they are just sitting back a bit making sure Twin Air/Gamber doesn't make anymore overflights. Remember, that was Gamber's second set of violations for the same offense. They made it clear in their Consent Order their concern about Twin Air having previous violations.
Like I said before, time to put your best foot forward. Nows the time to do that!
Thats the beautiful thing about opinions, each can have their own!
I'm just seeing the Avstar glass half empty and leaking and your seeing it half full and filling.
Compared to 6-7 months ago, I'd say with confidence that there is less chance of approval now than there was then. Doesn't take a rocket scientist to figure that out. The long delay alone, tells that something is not right. Not saying they won't get it, just saying the company did themselves an injustice by some of their recent actions.
Except that DOT approval is a much bigger "if" than it was previously.
I would hope that if Avstar is being truthful about filing by June 30th that they would be issuing the 8K, Item 4.01 within days. Once a new auditor is brought on board to start working on the audit, Avstar has 4 days to issue that Item 4.01.
Oh Yes, I forgot. I think that major development was the ability of the company to futher scam us shareholders.