Here is a little empirical and rationale evidence... good enough for me to warrant adding to my position.
"A strong business development arm was established within the company, placing an emphasis on the formation of strategic alliances with business partners, political dignitaries, and influential organizations both domestically and internationally. Several examples of this include USGlobal’s close working-relationships with: The Port Authority of NY & NJ, the Orange County Partnership, several Chambers of Commerce in highly-targeted catchment areas, as well as the airline’s backing of local and state politicians."
"A monumental change in course transpired in early 2017 when USGlobal Airways decided to establish its hub and operate from Stewart International Airport."
"we also announced that we entered into an engagement agreement with GBH CPAs, PC, pursuant to which GBH will serve as our company’s registered independent public accounting firm."
New website
Added topnotch air legal team. "Mr. Kelsey has 32 years of experience in litigation in state and federal courts. For the past 15 years, he has specialized in all facets of aviation law, including aviation-related litigation. His focus, however, has been on aircraft-related transactions, such as aircraft sales and purchases, leasing, engine and maintenance agreements, deicing, ground handling and other transactions related to airline operations. He has negotiated and closed extensive international aircraft-related contracts in Japan, Australia, Kuwait, India, Lebanon, Saudi Arabia, the United Kingdom, Ireland, Tunisia, Morocco, Brazil, Colombia, Ecuador, Peru, Argentina, and Mexico."
Additions to BOD and management. "we appointed Ambassador Ned L. Siegel as a Director of our company. Ambassador Siegel, has had a long and distinguished career as a senior U.S. government official and over 30 years of business experience. He was appointed by then President George W. Bush as the U.S. Ambassador to the Commonwealth of the Bahamas from October 2007 to January 2009. Ambassador Siegel’s vast experience and his unique set of skills set him apart as a trusted and respected advisor and we are honored to have him on our team."
Attempted purchase of Songbird. "we entered into a non-binding letter of intent with AerLine Holdings, LLC for the exclusive right to acquire Songbird Airways,"
"In May, we entered into an Aircraft Lease Agreement with Kalitta Air, LLC. to lease a Boeing 767-300ER aircraft which will be equipped for worldwide geographical operations. Although the original plan was to take delivery of the aircraft no later than July 30, 2017, we have made a business decision to delay delivery of this aircraft due to the Songbird acquisition. It is our intent to bring the 767 online sometime in 2018 and commence service to Europe and the Middle-East."
Pursuit of other to merge or buyout since Songbird no go. "Our Board of Directors met yesterday and unanimously decided to move forward with our revised approach. Due to the confidentiality of the relevant parties, we cannot go into more detail at this time."
