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Here's the response from Clay Thomas PC....for better or worse here it is:
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In response to your email, you are correct in that I do have a duty of confidentiality in regards to Avstar Aviation Group, Inc. (Avstar). However, I see no duty not to disclose matters which are public record and easily discoverable by third parties.
We resigned from Avstar some months ago due to nonpayment and other material matters. The relationship between this firm and Avstar has not changed. There is, in fact, no agreement between this firm and Avstar to complete a review of the third quarter 10-Q filing nor is there any agreement regarding a 2011 Financial Statement Audit. This firm would, of course, be interested to know the names of the parties to whom an assertion otherwise has been made.
Additionally, I can advise you that the due date for the reporting of the 10-K is 90 days after the fiscal year end of December 31, 2011. This would mean that the statutory filing date was March 30, 2012. An extension for such a filing is 10 working days, meaning that a filing under the extension could occur no later than April 16th or 17th, depending on the existence of any federal holidays. As far as I know, there is no extension to such a grace period beyond that date.
I hope that this correspondence clears up any misunderstanding you may have had or any misinformation you may have been given.
Very best regards,
Clay Thomas, CPA
I have a response from Clay Thomas, maybe Joelu misunderstood Gamber, but Mr. Thomas is NOT working on any 10K for Avstar.
I can post his letter, which he attached to an email if anyone would like.
You can also do a company search on the SEC website for all filings and corresponence.
If we could sit in a room with the management of Avstar I'd love to ask them that question and some of the other penny CEO's!!
Even if I made contact with the company right now, I really don't know if their information would be accurate or just a way to appease us.
Why haven't they answered any specific questions in emails? Only sent out a short genaric email that the 10K is being done. We've heard that statement before. Remember how it was going to be on time, then the NT-10K and then of course no 10K at all.
Remember in an email they stated that Avstar had brought on a former member of the DOT to assist with the process, well why wasn't that included in a 8K to investors. How is that person doing with that process? Why was information about the auditor departing withheld from us and the SEC?
I know more about this company that probably most here, thats why I keep saying do your DD.
I'm in a foul mood about Avstar right now, we are being snubbed and lied to.
I received a response from the Auditors office of Clay Thomas PC.
This was an automated response. It simply said:
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I am out of the office and unavailable until May 11th, I will be checking email periodically.
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Nice, this just brings up more questions. Maybe he took the 10K on vacation with him and is working on it between Margarita's? Actually, I don't know why he is out of the office, we can only assume.
I would use due care if trying to get a status about the Cuba approval, one of our board members made that call before and ended up being interograted in reference to his interest into the approval. Remember, to the government the Cuba approval is a matter of National Security, so they will have questions for anyone who appears to have interest. The board member said that after contact he was waiting for strange black unmarked helicopters to be buzzing his home!!
Can anyone point to a release or PR from "Berry" which even mentions Avstar or the potential of an alliance? I've never seen one, only the PR from Avstar. Berry did a large story about their operations and future after the Avstar release and there was NO mention of Avstar that I saw. I may have missed one.
OK folks, In order to resolve the questions of the auditor and 10K, I have made email contact with Clay Thomas PC. If in fact he is again associated with Avstar it would be public information and he would have no reason not to simply say yes or no.
I did ask some other specific questions, which he may or may not wish or be able to answer.
I will post his response when and if I get one. If I don't get one by Monday, I will call his firm.
I think it is imparative the 10K be filed or DOT may be delayed further, it seems pretty clear in the DOT Regulations that 3 years of current financials are required. The question is, will they accept what was submitted last fall as being current or do they need to be presently current.
Since we know Mr. Gamber reads this board regularly, I plead to him that he needs to communicate with us now. Your silence is deafening.
That will only apply if you have a Margin Account. A broker can not loan shares from a non-margin account. At least not legally.
This is nothing but a flipping machine now and won't move until the flippers let it go. If people stop buying up the .0007's-8's, at the ask they will eventually move on and this can move up.
MSEZ
People trying to intice others into selling, so they will fill their bid order at .0007. These things have to gap down a bit once and a while, it's healthy.
This thing should have been sitting firmly @ .0050+ before the 10K delinquency. We hit a wall in the mid-30's due to some flipping going on, people got discouraged of buying at the same level over and over, no news, volume started to decline and we slid back to the upper 20's. Then of course the recent events.
ETRF is one of ETRADE designators...
Right now with me it's just a matter of providing bid support and averaging down if they get filled..it's a win..win.
This could easily run but flippers won't let it go...
MSEZ
Not me, couldn't sell anything down this low. Plus I have the 400K at .0016 trying to block this from dropping.
Yeah, you should try. See if you get voice-mail. Of, course you could speak to a reservation clerk...lol
I'm to the point that if I don't see a little more transparency and effort from Avstars side, I likely be taking out my remaining shares and moving on next week.
Right now all we have is a blanket email and one person who has made contact with Gamber. I still have not been able to get through to anyone, calls not returned. Generic email, but specific questions not addressed.
This may very well still be the pot-of-gold we all thought it was, but at least for me the rainbow leading to that pot is fading quickly. If I do get out completely, I hope everyone goes on here and makes much $$$$$.
This is only my opinion based on my own DD, others may choose to buy and could be right.
I don't understand the reluctance to issue a 8K informing shareholders of their intentions. An 8K is pretty much a short fill-in the blank form (except for the narrative statement), which is filled out electronically and uploaded to the Edgar system on-line. What, a 30-60 min process?
I guess that I just don't get it, we are told last week that they would be updating us shareholders on the 10K, now they tell us, oh, the former auditor is back, but we are still going to snub the SEC and not file the required 8K to report that the auditor is back on board? I just don't think it's a great move when the SEC already has the company under the microscope.
Come'on Avstar, spend the few extra minutes for the benefit of the investors/shareholders and file the 8K. Let us, the SEC and OTC know what is going on, it will benefit everyone.
Lets hope we see an 8K today!!!
Wonder why IHUB has still not picked up the news release? They have been a terrible service lately.
Need a push through .0012's, nothing showing after till .005's!!!
GOOOO AGIJ!!
Since the account notified the SEC that he departed and AAVGE confirmed that through a 8K, yes they are required to file the 8K within 4 days of putting him back to work.
I don't have L2 at my present location.
Did he indicate if they would be filing the required 8K with the SEC reporting the return of the former auditor? They have 4 days to complete that 8K, which probably takes 30 minutes to do.
The problem here is the active flipping channel working between .0005 and .0008, this needs buying pressure @ .0008 to break the channel.
MSEZ
The ASK is freakin thin and no buyers!! This could fly with some buy volume.
Only 1.4 mil..@.0013
Now the time to squeeze, ASK is looking good!!!
AGIJ
I see .0015+ today....
Congratulations, but I hear they don't pay overtime! LOL
Board marks doubled today, 203 posts, HOT TOPIC....tomorrow this goes BOOOOOOOM !!!!!!
AGIJ
I don't think your seeing flipping yet, but I think a few that picked up those cheap teens last week will flip them out in the mid-upper 20's, which is their decision.
I think flipping is what kept this from moving past the mid 30's, people became discouraged of buying the same level over and over, the buying volume dropped and we became stagnant.
Hopefully, if/when this moves back up, it can break through those mid-30's that hounded us. We should have walked through that level!
Just a waiting game now, waiting on DOT, CUBA and Avstar Management for a little good news.
Just my opinion....
AAVG
Next run up should break .0014's. have to keep pressure on after the gap downs. With the news this could turn into a multi-day runner.
AGIJ
Keep steady pressure on that ASK, don't give the MM's time to work their crap to bring us down and block it!!
GO AGIJ
I see a runner here. Had to take a break from that other board for a bit, your right getting way too involved there!! No sense loosing sleep over it.
Good luck here fire!
Break through the .0012's and this runs hard, IMO
AGIJ
Not that I know of, no indication. But anyone can filter a large sale through a particular MM if you have the right Broker.
Was only talking in general terms, didn't mean to suggest there was dilution. Usually won't see that on the ask.
Not uncommon for MM's to hide shares behind a 5K ask. But VFIN is the known as a low-life MM, they are used by other MM's to block the ask and will loan shares to them for that purpose, so they can act as the "AXE". They are also famous for the dilution of shares for large sales.
Seen VFIN play this game many times....just have to keep chewing away at the shares.
AFPW