I bought a month ago for the first time around .0018. 55,000 shares. I'm a lightweight, but I did it at the time because I was looking for a way to spend about $100 in a dormant investment account that I thought was closed and rolled over. Turns out I had some interest that was paid I didn't even know about.
I'm not trying to rain on anyone's parade, but I really don't see this stock rising much. I'll stick it out and let it roll though. There are numerous hurdles that the company, now nearly 30 years old, must get through.
1.) FAA certification is underway and likely very very stringent based on the history of the company and last round when they were advised to dump the 747-200. The 767-300 they got is still a 20+ year old airframe, so their maintenance procedures and operations manual(s) will have to be better than perfect. There are many things that can cause further delay in this process or an outright denial.
2.) JFK to LED is a market that, if it were believed to be profitable, would have been operated by one of the incumbents at JFK. Delta, for one or even Aeroflot. Both of them serve Moscow already. Ditto for the other outlying "thin" routes to Eastern Europe that have been discussed. They're too far to fly with a narrowbody 757, so the widebody requirement makes it a financial risk. More crew, more weight, lots more fuel to burn. It's also why Delta, who loves flying narrowbodies over the Atlantic where practical, is probably not doing it.
3.) There are like 9 BILLION outstanding shares and a market cap of, as of now, around $40M. That's some major dilution, and it's the driver of all the SEC fines and investigations of a company that hasn't earned a dime of revenue, but yet has been "operating" for 30 years. I'll be interested to see how the reverse stock split works out.
That being said, I'm "all in" for my $100 investment. If for nothing else, entertainment value. Good luck all.
I'm not trying to rain on anyone's parade, but I really don't see this stock rising much. I'll stick it out and let it roll though. There are numerous hurdles that the company, now nearly 30 years old, must get through.
1.) FAA certification is underway and likely very very stringent based on the history of the company and last round when they were advised to dump the 747-200. The 767-300 they got is still a 20+ year old airframe, so their maintenance procedures and operations manual(s) will have to be better than perfect. There are many things that can cause further delay in this process or an outright denial.
2.) JFK to LED is a market that, if it were believed to be profitable, would have been operated by one of the incumbents at JFK. Delta, for one or even Aeroflot. Both of them serve Moscow already. Ditto for the other outlying "thin" routes to Eastern Europe that have been discussed. They're too far to fly with a narrowbody 757, so the widebody requirement makes it a financial risk. More crew, more weight, lots more fuel to burn. It's also why Delta, who loves flying narrowbodies over the Atlantic where practical, is probably not doing it.
3.) There are like 9 BILLION outstanding shares and a market cap of, as of now, around $40M. That's some major dilution, and it's the driver of all the SEC fines and investigations of a company that hasn't earned a dime of revenue, but yet has been "operating" for 30 years. I'll be interested to see how the reverse stock split works out.
That being said, I'm "all in" for my $100 investment. If for nothing else, entertainment value. Good luck all.
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