Tempus Applied Solutions Holdings Inc fka TMPS

[munimi]

yeap, this is a goner...

TMPS will not get a contract for A2A refueling. They are blacklisted now. Navy and DoD need and want this capability from industry and the problem is they were so desperate that they overlooked critical issues that have blown up in everyone’s faces that were involved. Many have egg on their face and will be reprimanded, demoted and fired. Some individuals involved may be prosecuted. Government has taken action to correct their mistakes as they have pulled the contract completely. There are no amendments or “corrective action” that would even slightly allow TMPS to be considered to be a source to be contracted. The only “corrective action” is that TMPS will not have a contract and the whole thing was pulled. It’s over, done, finished!
TMPS needs to do something else as a business as it will not be with the NAVY and most likely not the DoD ever again as a Prime Contractor or Sub-Contractor. At this point they could not get a contract sweeping the floor for the Government as it’s been a total goat-rope for all concerned. There will be no second bite at the apple here.

Here is (likely) why the Navy terminated the contract...

The company (by that I mean CEO) couldn't get the financing needed to satisfy the Navy's required contractual financial obligations, That's likely why he left the company in a hurry

https://www.sec.gov/Archives/edgar/data/1628871/000143774919007843/tmps20190424_8k.htm

Quote: ...funds will be obligated on individual orders as they are issued. Customary for government contracts, there will be a working capital requirement for which the company will require third party funding and/or shareholder funding. Furthermore, there will be a capital requirement for getting the aircraft mission ready, for which the company will require third party funding and/or shareholder funding...

Stick a fork in this folks, game over now
Idiot CEO messed it up the once in a lifetime opportunity of a huge gov. contract
Heading down under 0.10 and will likely settle somewhere around 0.03-0.05

Get out and stay out

U folks are welcome
:)