John, this is my assessment. It's been slow, but still moving forward.
Summer 2017
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 L-1011s will generate revenue causing the stock price to rise? Filed 8/14/17 PRESS RELEASE DATED AUGUST 14, 2017, ANNOUNCING THE ACQUISITION BY THE COMPANY
Spring/Summer 2018
TMPS continues to finalize restructure
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
TMPS Today
Marketing the L-1011s and getting them mission ready
Bidding on contracts, one we know for sure (could boost revenues tenfold)
Only debt on the balance sheet is with Johan Eliasch (TMPS Co-Owner & billionaire)
Conclusion
I'll bet on their fleet (once fully operational) generating revenue any day of the week
TMPS continues to roll forward and not backward. Of course there are challenges, but every business has them, especially one that is in the beginning stages of a turnaround.
