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This is nothing more than a Mr. Black ATM machine. No products, no revenue, just dilution until this is worthless. I'm only hoping that this bumps a little so I can dump this piece of crap. I'm done holding onto this...
It's easy to hand out shares that will be worthless after restrictions are lifted. Great, now I'll have two of Black's worthless companies.
I see the biggest issue here as the unknown. As I've said in the past, DOT approval is generally based on company health and the ability to sustain a regularly schedule airline service.
Cuba Service Provider status deals mainly with the Governments' opinion whether Avstar/Twin Air could be trustworthy to make financial transactions with a country which has US sanctions.
Once the DOT application is made the government begins a background investigation into the company and major players based on the application. If something is unclear, they will ask for further info, which DOT already did, twice. So we don't know what (if anything) the governments investigation has turned up to create the excessive delays. If anything changed hands in writing between DOT and AAVG, we should have known through the postings.
CUBA is another matter, these applications are investigated by Homeland Security who will not leave any stone unturned, and have unprecedented access to information. This is where I think Avstar has really "shot itself in the foot" by not filing with SEC, the auditor and overflight violation issues. Avstar has supplied the reasoning for a denial here. If approval should come here, it's only the first step, approval from CUBA itself would be required. After there are approvals from the US and CUBA, each flight requires prior approval.
Just as a word of caution with Sharbuilder, they will restrict some non-reporting companies and not allow them to be traded. Something to keep in the back of your mind. I remember that they will allow sales if you already hold the security.
They only have to file an 8K if they plan on filing to the SEC and work to get their OTCQB status back. If they want to stay in the pinks they don't have to file anything. They would then just be listed as a non-reporting company.
I can answer that for you.
Right now Twin Air Calypso is Registered through the FAA as a Part 135 Air Carrier. This authorization deals with air-worthiness and the ability to assure the safety to human life. Basically everything to do with planes, pilots and air traffic rules.
They are also right now, Authorized as DOT Section 298 On-Demand Charter Service. This means that Twin Air is only authorized to fly by request, they can not list a flight schedule. Under the On-Demand designation they are restricted to flying 4 or less flights per 7 day period to each destination. So therefore, if Twin Air flys to 3 different destinations, under the On-Demand designation, they would be able to fly up to 12 round trip flights per week.
If issued, under the new DOT Commuter Air Carrier designation Twin Air would then be authorized to fly additional flights and authorized to publish schedules. Basically, to become an airline, instead of a Charter air service. This means an opportunity to fly many more passengers.
While FAA deals with airworthiness and air safety, DOT deals with the ability of a company to efficiently operate an air service. They look at company structure, personnel, financials, etc to determine if Twin Air would be capable of sustaining a regularly scheduled air service, without compromising passenger convenience and safety.
Hope that answered your question.
It's not rocket science, put your best foot forward.
I've worked in Government for 36 years, I know how we think..lol
I'd love to see this company make a little better effort on a few fronts, it would go a long way to make some people feel better about things.
The DOT does require 3 years of Financials, Avstar did file those on their original DOT application. DOT may accept those as current. If they don't then they will ask for new updated info, we will all know if that happens because the request will appear in their on-line file.
I think the bigger problem with DOT and Cuba will be that they are both regulated by Federal Agencies, by having outstanding SEC issues and not filing required financials (10K) they have (Gamber) violated federal rules. By making overflights, they (Gamber) has violated Federal Rules, Twin Air has been violated for this two times. I don't think this bodes well for a company asking Federal Agencies for approvals.
I think the best course of action is for Avstar to get all of their delinquent issues in order to show go faith to the feds. They also need to update their application to show current corporate address and phone.
Just all common sense...
It boils down to the company's fault, when they finance through the use of convertibles, they need to add stipulations to their use. many companies do this to protect investors and integity of the stock.
AFPW handed out free reign on these things, these note holders can care less about shareholders and what happens to the pps.
Thats why they call it "Toxic Financing"
Been in this for quite some time, if nothing changes soon I'm cutting my losses and running away from this company.
I was of course kidding about the bluff. I have a few friends who said they would sell if back into the high teens or low 20's, they may have let a few go today, I don't know.
My wife also holds some AAVG, she will tell me when to pull the trigger. She knows nothing about the company other than they have planes, so if she sees it gaining, it's all good to her.
This is just a question, I'm really not sure.
Since AAVG is presently in Pinks and a non-reporting company as they stand now, would company insiders need to report if selling?
Nothing to do with Twin Airs application, but does anyone find it strange that there have been no Cuban Service Provider List updates in 3 months? Can events in the middle east be keeping them that busy, making Cuba a low priority?
Hmmmmm, maybe it was all a bluff, or maybe not.
Again, that fuel discount was a plan tied to a lease if the negotiation was successful, like the fuel truck plan. However, we never had any confirmation that any of these came to fruition. It's all an assumption, therefore some assume they are getting a discount and other assume they are not. This is the danger when companies don't follow up on PR releases, leaves too many questions.
Right now AVGAS in FL is selling roughly anywhere from $6.00 to $9.00, Jet fuel is less at about $4.00 to $6.00 or so. Changes regularly. Predictions are for aviation fuels to be steady during 2012. Avstar/Twin Air already has a fuel surcharge on each ticket.
So far today I've seen that they are putting on two more pilots and it is to cover the extra planes through the Berry deal. Can someone please post the PR, 8K or email that this info originated from?
Double check on actual working employees. Not including board members, Gamber and Henry. Be a good email to Henry.
It is a working company, I agree, but to say legitimate might be a stretch! Legitimate companies don't constantly break federal rules. (DOT/SEC)
Please don't tell me to sell or run just because I'm not pumping this stock any longer, your entitled to your opinion and I'm entitled to mine.
We'll see in the end who's right.
Nice bump yesterday, however it's always suspect when these things start moving on air, no news or reason, especially when it's been stagnent for so long. Did everyone just wake up on a Tuesday morning and have a vision? Total buys amount to around 6K, could be one or two people buying.
Still no responses from Gamber. Why can't a guy with around 8 full and part-time employees spread between here and the Bahamas bother to answer emails or return phone calls? He used to be in contact with investors. It's not like they are a busy airline, they don't even fly on a daily basis. I have 26 employees working directly out of my office and indirect control of many more, I still find the time to answer every email and phone call.
Henry obviously gives broad answers and doesn't answer specific questions. Always seems like the same answers, we are working on it. But, still no 8K about an auditor with 30 days left by their timeline. Also, no auditor has reported to the SEC being on board with AAVG.
Like Fireballz said, new sizable liabilities coming due soon, where will the money come from? Have they paid the DOT fines, have they paid the former auditor? These are questions they avoid, they need to be answered because these are the things that will come back and haunt this company.
People, all the negativity!!! Lets remember, your playing a sub-penny!! If your looking for stability you better play something like CAT at around 100.00 a share.
These are sub-penny for a reason, it's a crap shoot, you just pick the ones with the best odds that you won't loose it all.
At least there's a real company here, developing real products and thats much more than can be said for many of these.
AFPW
Don't need a crystal ball, I know of two people waiting to sell roughly about 5-6mil shares at the ask, and we all know the resident flippers will be there every step of the way.
If this gets back to high teens, the ask is going to be clogged with sellers trying to rid themselves of shares, the new flippers that showed up and of course the long time resident flippers that kept us from moving before. I hope that there are enough new buyers to push through those big as* ask orders.
So, what about this former DOT person they brought on? We heard this months ago! How's he/she done so far?, no activity or correspondence in their file, no show cause order yet!
The issue about bringing on a DOT person appeared in a former PR, but like most of their PR's nothing comes of it, just more of the same.
I've sat down and reviewed all of the PR's, 8K's... all of the plans, all of the alliances, nothing ever comes of any of them, we never hear another word other than "we are working on it".
In my agency, if I sat on my hands and snubbed my nose at one of the regulatory requirements for months and months, I'd be outside looking in. We still have not heard one legitimate reason for not replacing the auditor and not filing.
Makes you wonder, if they don't care about following regulations of the DOT/FAA and making overflights, they don't care about SEC regulations....how will they continue to run an airline which is all about regulations?
Well, I don't hold much any longer and those left could go at anytime. I've said that all before. Just waiting for the right moment to sell the rest.
Then I will ride off into the sunset.. but until then I'll continue to dig into Avstar.
Now that statement I agree with!
Why, because Gamber is the guy in charge, he should be directing his people to get these things done. The buck stops with him.
6-7 months to find a new auditor and they still have been unable to bring one on board, but wait, they "feel" they might have one! Really now. Hmmmm, are auditors running away when they see Avstar coming? Is it really that difficult?
You can talk about revenues all you want. First, no one will know the real numbers until there is an independent audit, we only know what was in a PR, and we know how reliable their PR's have been. How many alliances have been reported and what has come out of any of these? Nothing, we've never heard another word about any of them. Even the fuel and fuel truck deal, we don't know if it was ever completed, after all, they did leave some doubt in the filings. That was another question asked that was not answered.
Twin Air flights can be profitable everyday, if Avstar itself fails it makes no difference. You can't seperate the two.
Agreed, I don't know why Gamber has no clue what makes a company successful. Non-reporting and snubbing your nose to those that can help hurts. They have even snubbed the BBB, two complaints filed, one as recent as March. They didn't not respond to the complaints so now the BBB has listed them as an "F", for not responding.
These things are easily avoided, a simple quick answer and resolution to the complaint would have kept them from a low rating. just hard to understand.
I guess we won't know if the auditor wouldn't answer or if Avstar wouldn't supply the information he required. Clay Thomas would only tell me he resigned due to non-payment and other material items. So it's kind of a he said/she said.
My big question is and always has been, why lease planes that were not air worthy? I know this lease was done before the Avstar take over by Gamber, but still, you commit a large sum of money to lease planes that can't be used? This is why I've been suspect of this Gamber/Langston connection. This lease took place just before the Avstar takeover of Twin Air, it's very nice to have a steady income for planes that are useless as they sit. Thats just the investigator background in me talking.
But with all of these pinks/pennies, there is always something just a little off.. IMO
Now this one I'll agree with you on, the company is small enough where everyone should be pitching in all aspects if qualified, which Gamber is. If they are short a pilot, he should be flying too.
Bashing? More like being realistic...
Remember Twin Air was not profitable when owned by Gamber and Twin Air went into bankruptcy. Why should it be different now, they can't fly additional flights until they get DOT approval. Twin Air can not support Avstar, too many liabilities without suffient cash flow. They can't pay the former auditor, can't afford to repair planes (remember they are paying a lease on 5 planes that sit mothballed), they are right now flying two leased from Air Charters LLC and one from Aztec. They apparently can't even afford to update their website, which was promised to us months ago. Also, with the additional cost of DOT fines, notes coming due this year, I'll stick with my statement.
Without DOT, given the way Avstar stands now, there is no future.
What happens the next time a plane requires an expensive repair or is due for the FAA required majors. Do they drop another plane?
Call it bashing, I really don't care. I find it more realistic than the pumping that has been going on here.
I seem to recall not that long ago you repeatedly saying that Avstar was headed for bankruptcy, has there been a major change we don't know about since then?
I don't think anyone has disputed that they are in business, the bigger question is how long they can stay in business when incurring a loss on a daily basis. Combined with their recent actions or should I say non-actions, plus no new revenue streams, the out-look is not rosey.
Without DOT there is nothing here.
Just pointing out the connections between the principle players.
With their one of their notes coming due in a few months, it will add liabilities to the already cash straped company. You are right on, there is a reason there was no mention of expenses or liabilities in the PR.
I have the cash from shares I've sold waiting to buy if I see things differently in the future. Right now, not so much.
I have been slowly putting together a timeline from the days of Twin Air and Calypso Air. It's a very interesting story, and connecting the players in both is even more interesting. Here's a few highlights....
Twin Air owned by Gamber
Calypso Air owned by Langston
Calypso Air bought by Gamber and wife, now Twin Air Calypso
Shortly after Langston and wife create two new LLC companies, Air Charters LLC and Langston Charters LLC.
Twin Air Calypso goes into bankruptcy.
Avstar Aviation buys Miami Aviation Maint. owned by Gamber, Langston and Gambers wife for 750,000 shares of Avstar.
Gamber is made President of Avstar.
Avstar buys Twin Air Calypso from Gamber for 18,000,000 shares of Avstar (value at the time 275,000.00).
Langston is brought into Avstar (AvStar Aviation (PINKSHEETS: AAVG) is proud to announce that new positions have been created and one has been filled with local expert Kenneth Langston. Mr. Langston, newly appointed Advisor on Bahamas Marketing Strategies, has been promoted to act as an expert and consultant to AvStar.) BTW...Langston is a dentist.
Now remember that Avstar inherited the lease of 7 planes, from who?... Air Chaters LLC...Langston, and he's got a new position at Avstar!
Air Charters LLC, Corporate headquarters and operational base, Langstons house apparently.
Just a quick overview, theres more and so many more details.
Air Charters LLC and Langston Charters LLC are very current on the filings with the State of Florida, having recently updated filings a few months ago.
Just find this all interesting...not good or bad.
This company is unbelievable!
So the previous emails indicating that the filings were on track was an out and out lie. They are just now talking to an auditor! They talk about revenues, what are expenses, are there no profits? Revenues tell nothing without knowing the rest. We heard about the ex-DOT employees in Feb, apparently he/she is not doing very well, there has been no further activity with DOT. This PR is more of the same, nothing.
This PR was simply because today was the deadline for the filings, they need to buy time before more people ran. Look at the statement "we feel", not very reassuring.
Make you wonder if insiders are selling off shares, we wouldn't know, they haven't reported anything else lately.
Why this PR, why not an 8K (like promised)to outline everything going on. Why, IMO because the 8K is an official document!!
IMO
I've never once seen Berry even mention Avstar or Twin Air in any of their PR's. Can you post a link?
I've always been a supporter of the Avstar business plan and originally thought that the team in place is the team that could pull it off. Even though I'm pretty much out of AAVG, I hope what they have to say is at least not bad news, if news comes at all, because we've heard it before.
Lets hope that they announce the hiring of an auditor, I believe they can still catch up on filings and then appeal to FINRA to reinstatment to the OB status. There is an arbitration process, just not sure of the time frame.
Being current with filings and financials will help them in all of their business dealings, including DOT/CUBA.
"Inexperienced Weak", LOL
I think the ones that are getting out are the ones that did their homework. There will be no filing this week, how can they file without an auditor, it's not even possible. No auditor has reported being on board to the SEC which is required, the company also has to report a new auditor via an 8K. This company does not want anyone to see their financials at this point.
If Henry emailed that they are filing, then I would say it's false, just like the two previous times the company said they were filing on time.
This company is screwing up everything it had going for it.
Had this video saved, don't think that I ever shared it. It's basically everything you ever wanted to know about Bahamas air travel. Nothing about Twin Air, this is more for private pilots but has interesting info, just educational. Enjoy!
Those items were apparently kept confidential until sometime after Jan. 16th of this year, for what reason I don't know.
Also, I plan on this being my last post on the board. Maybe see some of you on other Ihub boards!!
Again good luck to all, I hope I'm wrong and you all make big $$$$.
Already addressed some of those questions to Mr Thomas, he stated that he has an obligation to Avstar not to discuss certain matters.
Since Clay Thomas made his required report about his departure to the SEC and Avstar did not, one can only assume the reasons behind the events. Anyone here that has a theory, it's just that.
All they say is, "non-payment and other material reasons".
This one is only a guess by anyone except Thomas and Avstar.
I wondered that too Fish, I'm wondering if the departure of the accountant made them open the file again?
Here's the link for the questions the SEC has...
The sad thing is, I think Avstar could have easily answered most of these. I don't know what it has been with these guys, taking things that would have been relatively easy to deal with and ignoring them.
http://www.sec.gov/Archives/edgar/data/1077319/000000000010052403/filename1.pdf