Flitways Technology Inc (FTWS)

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$FTWS Big DD Package on recent developments!

This got interesting (see towards the end)...

Here's more about Craig Siegel, the new 55% majority stakeholder and, imo, presumptive future CEO of the company once Sobolewski's stint as interim CEO is complete (i.e. once Sobolewski's turnaround work is complete, which seems to be around the corner). He has 18 years of experience as Managing Partner at Blue Star Jets and then Apollo Jets: "Providing worldwide access to All Size Private Jets Specializing in Charter/Empty Leg/1-Way Pricing."








Here's where he's been working for the past 9 years. Visit yourself at https://www.apollojets.com – you'll notice right away that the website for Apollo Jets is very similar to that of $FTWS. I wouldn't be surprised if they used the same web designer.




Testimonials by Derek Jeeter and Shaquil O'Neal – they've been providing private jet travel to the stars…






Six offices:



Notice the yachts – the previous PR about entering the luxury yacht biz seems very realistic now, especially given that the company already, per the previously released 20-point update/guidance PR, operated yachts during the restructuring.





Again, looks like we may have a real winner here!

• The jet deal is from all indications set to close on Dec. 4th of this year.

• They expect no loss for 2019 and a profit between $800K and $2M next year. Read about this and more on their 20-point update/guidance PR: https://www.accesswire.com/565171/Corporate-Update-20-Point-Forward-Guidance-Flitways-Technologies-FTWS

• They've indicated, and begun following through, that they'd get access to OTC Markets backend and begin uploading disclosures—we saw this process has begun with last week's 13-D: https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=13755064&RcvdDate=11/21/2019&CoName=FLITWAYS%20TECHNOLOGY%20INC.&FormType=SC%2013D&View=html

• Once the filings are up to date, the Stop Sign will be removed and they'll be Pink Current

• They're going to do a business name change and ticker change

• They expect this and more to be done by or before January 1st

Is there reason to be cautious? Of course! This is the OTCs. There was recently an AS increase, and common shares were involved in the PRed jet acquisition (the aforementioned one that's set to close Dec. 4). However, we have much reason to be optimistic in my opinion.

• Publicly stating and restating that no reverse split is being considered – this seems trustworthy given the recent AS increase. They have a whole lot of headroom in the AS and no reason to consider uplisting. OTC Pink is a perfect place for this sort of company unless it intends to expand (and it may!). We seem very safe as the OTCs go regarding reverse splits. None are on the near or mid-term horizon from all indications.
• The majority shareholder knows what he's doing! 18 years experience, an industry pro.
• So many catalysts that they've suggested are coming in the next 5 weeks.
• Near term profitability projected. Yes, I'll believe it when I see it too, but very few OTC companies are operating with positive cash flow – this may be a very rare exception.
• Scalability—Siegel, if indeed he becomes CEO, may hope to make FTWS essentially a publicly traded version of Apollo. Just speculation, but why stop at one jet and a few yachts when the business model is profitable? Might as well make it bigger and more profitable….

Finally, the most important DD I can do for us is right here: if you search for "Craig Siegel Florida" on Google, you'll find a classic "Florida Man" news story about a chiropractor named Craig Siegel who defrauded some folks on a luxury mansion and who threw a bucket of urine at a building code inspector on his property. "Oh crap," I thought, "Did I just get suckered into the OTC cesspool and invest in a company whose majority shareholder is a urine-bucket thrower? That's a new low even for the OTCs!" Well, thankfully, it's NOT the same Craig Siegel. Here's the urine thrower, who lives on the other side of Florida, clearly is not a guy with a private jet, and is a very different person from the the Apollo Jets Craig Siegel.


And here's the urine-throwing story: they don't answer how he came to have a bucket of urine at the ready to dump on the inspector. …
https://www.dailymail.co.uk/news/article-2615568/Florida-man-accused-rental-fraud-dumps-bucket-URINE-building-inspector.html

And here's FTWS majority shareholder Craig Siegel from West Palm Beach, FL, who has 500+ LinkedIn connections and who works at Apollo Jets, whose website and services are lockstep with FTWS's new business model—this is obviously the Craig Siegel who now owns 1.3B shares of FTWS.



And here's some Florida geography for you:


I was very relieved to sort this out, and that was the most fun I've had with a DD post in a while….

Anyway, that's all I have for now. This is all my research and personal opinion, and you should never rely on anyone but a certified financial advisor for investment advice. Do your own DD on this and every investment, and good luck to all….
H