I've done some more research and I believe there are maybe 10 to 15 subsidiaries or affiliated companies that fall under Tempus Intermediate Holdings (TIH) or the holding company on the private side. I'm predicting that Tempus Aircraft Sales & Service (TASS) stays private, however, I hope that's not the case. Based on the people I've talked to in the aviation industry that sell aircraft, TASS alone is probably doing around $40MM in top line revenue if not more. TASS also has sizeable exposure with conservative lending institutions, which means the banks think that TASS is a wise investment. Even if TASS stays private and is pieced off to John Gulbin, there are still numerous entities that can roll into TMPS. My research indicates that you have maintenance facilities and aircraft parts facilities that could potentially double the revenue and the assets of TMPS. I believe the financial statements are going to look a lot different when the 10Q is released. Right now this stock is undervalued in a big way, but should my theory be correct, the valuation alone should send TMPS up substantially. I personally don't care if this stock moves up in the short term, the long term potential here is what I'm attracted to. You can buy shares for less than $0.50, and if that alone doesn't excite you then you're in this stock for the wrong reasons, especially if you've done your research. I feel confident that this stock could easily hit $5 in 12 to 18 months.
One final thought. With all these entities and moving parts, I'm still curious how their lenders or better yet the legal departments of their lenders feel about all theses potential changes. With the debt that the overall Tempus organization holds, that's a lot of loan documents and titling that may need to be amended. Perhaps everything is in fact getting rolled up into TMPS, and maybe Johan Eliasch is guaranteeing the debt. That's probably pie in the sky mentality, but it's fun to think about.
The next couple weeks should be interesting.
