The facts aren't a year old, they do, however, go back over a year:
TMPS restructures (takes a lot of time to unravel) Filed 5/8/17 Schedule 13D
Johan Eliasch (billionaire CEO of Head N.V.) extends a $6.2MM convertible note for a G-IV Aircraft that is currently being used for a mission and generating revenue Filed 5/8/17 10% SENIOR SECURED CONVERTIBLE NOTE
Johan Askel Bergendorff (Corporate Development Director Head N.V.) is named CFO Filed 6/15/17 8K
TMPS announces acquisition of six L-1011s Filed 8/14/17 8K
L-1011s were acquired with equity and NOT DEBT. Why would Johan Classen do that? Maybe it's because the revenues and business the L-1011s will generate might cause the stock price to rise? Filed 8/14/17 PRESS RELEASE DATED AUGUST 14, 2017, ANNOUNCING THE ACQUISITION BY THE COMPANY
Johan Classen (Claasen Group International) agrees to concessions in order to finalize the acquistion of the L-1011s and allows TMPS to take title to the aircraft ASAP Filed 3/9/18 8K
Johan Eliasch extends maturity date on the convertible note Filed 4/30/18 8K
Currently/Today
Marketing the L-1011s and getting them mission ready
Bidding on contracts
They stopped reporting, in my opinion, after they lost one of their contracts. Also, priorities/strategy can change from one month to the next. I don't know the answer, all I know is that TMPS is operating on fumes right now, I've never denied that.
The aircraft are in “flyable storage”. This is a common situation with aircraft that have been recently removed from active service or that have changed hands to be modified or converted for a new mission. As such, there is no real disadvantage to the aircraft in terms of the Navy’s evaluation of their ability to be returned to service. As I understand it, 2000+ pages of documents were submitted to the Navy, a vast majority were maintenance and engineering data related to their airworthiness. Not only that, TMPS would not have made the investment of time, money, and other resources into these aircraft unless they thought they had a realistic chance to receive an award.
Your story is pretty common. Invest in a stock, doesn't pan out in a timely fashion, you sell on the next bump, and then miss out on massive gains over the next year or two. If you don't think TMPS will secure a contract and your assessment is that they will not survive, why not sell now?
