Scott Terry responded to my questions below:
Question: ME Aviation Services (Johan Claasen) is listed as the Seller of the L-1011s and will be issued approximately 6,730,769 common shares at a value of $0.52 per share. When do you expect this transaction to close and will there be any synergies between TMPS and Johan Claasen or the Claasen Group?
Answer: The transaction is currently held up due to liens that were discovered during the title search. The liens are the same attachments that were previously cleared by the FAA but were not cleared by the International Registry for Aircraft which is based in Ireland. The Irish authorities are supposed to meet on 11 December to determine whether or not the liens can be released without further legal process. Mr. Claasen will be a tremendous resource for TMPS has he is a well respected professional in our field with extensive relationships internationally.
Question: Obviously SANTIAGO BUSINESS CO. INTERNATIONAL LTD converting shares come April 2018 in the event the note is not paid or refinanced would be very detrimental/dilutive. What is being done to remedy this situation? In your opinion, will Johan Eliasch work with you to refinance the note or is the plan to use the EQUITY FINANCING AGREEMENT WITH GHS FINANCING, LLC?
Answer: Mr. Eliasch has a vested, long term interest in the company.
Question: The lack of working capital is a concern and the potential to mitigate that with equity is a concern as well due to dilution, can you provide any color or comfort to how 2018 may pan out?
Answer: Selling equity to raise working capital is not ideal. Any equity raise will be done with the proceeds allocated to specific program or contract in order to enhance the profitability on an existing program or to enhance our opportunity to win the contract.
Question: The announcement of new contracts has been quite stagnant, can you provide any visibility or potential backlog for 2018?
Answer: We are constantly bidding on government contracts in the USA and internationally. Unfortunately the sales cycle for these contracts is quite long and tedious. Again, we are concentrating on the L-1011 air to air refueling market as well as additional special mission aircraft operations in the USA and Europe.
