Mesa Air Group, Inc. (fka MESAQ)

[Madclown]

Preserving value for the current equity holders hinges on these catalysts:

1. Being able to successfully win the $70 million Delta Lawsuit and collect the additional $10 Million due;

2. Successfully negotiate the return of the excess planes under lease without eroding all of the equity value;

3. Place other excess planes into service and perhaps place into service some of the planes they currently intend to return;

4. Economic recovery, in general, picks up and results in top-line growth as well as increased equity.

Let's just look at things realistically. Nothing in "Q" land is a given. If there were any guarantees then it would not have fallen to $0.04. At this point, this stock has a nice chart since it is following its 5 DMA, which is sloping upwards. There is also the "Gap" theory in effect. There are others that can speak with more clarity on the chart aspects. It also is a potential long-term play, IF the pieces fall into place. We need to see some MORs and need to see how the negotiations go with respect to the return of the planes. Along those lines you are looking for:

1. How much liability remains after the plane(s) are returned. Each returned plane, unless otherwise stipulated, will represent an unsecured claim listed on the balance sheet between the long-term liabilities and the equity as a "liability subject to compromise"

2. Will the planes have to be returned in "airworthy" condition and how much will it cost to make that happen.

These are the catalysts and risks as I see them. I hope this helps.