“The third quarter of 2017 showed improvement in year-over-year comparisons, as anticipated.” stated Ron Ricciardi, the Company’s President. “Similar to Q2, the third quarter again narrowed the gap in comparison to last year’s results. With the final of three phased reductions taking place on January 1st, the full 50 percent reduction of air tour activity is fully realized in 2017. The first phase was implemented on June 1, 2016 and the second on October 1, 2016. The net effect of these reductions will continue to challenge year-over-year quarterly comparisons throughout 2017. The first quarter 2018, notwithstanding other additions to the business, will be a true apples-to-apples comparison.”
And they have a revolving line of credit $2,500,000 just renegotiated on better terms with a new bank as per March 21, 2018 8k. The company is actively seeking its next acquisition.
Company in the middle of a share buyback totaling 2.5 million shares which was initiated rather than doing a R/S which had been previously voted on and approved. As of the 10K filing January 30, 2018 of 1,673,190 shares have been bought back.
They also rent out the helipad for movie and tv filming.
Shares are currently priced about half book value and should be trading .20+ IMO due to the book value, company’s active share buyback and new credit facility for another acquisition this year.
A solid investment for someone seeking a company that is actively growing and going through the right motions to increase the company’s share value.
Stock currently has a heavy short position in it. Only sells for two weeks have been shorts they have to cover at some point. https://otcshortreport.com/company/SKAS
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