Avantair's Filing With the SEC

[BeenThereDoneIt]

This is what Avantair filed with the Securties and Exchange Commission in November of 2009. If Hazmat wants to cry and blame me, that is fine. I'm simply passing along what his own company told the Feds....word for word.

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Risks Related to Our Business​

Avantair has a history of losses and may not be able to generate sufficient net revenue from its business in the future to achieve or sustain profitability.​

Avantair has incurred losses since inception. To date, Avantair’s revenues have largely come from sales of fractional interests and flight hour cards in aircraft and monthly management fees. Avantair’s primary expenses - cost of aircraft, cost of flight operations and overhead - have increased over the past several years and significantly exceeded revenues.
​

and.......​

If Avantair is unable to fund its operations and capital expenditures, Avantair may not be able to continue to acquire additional inventory of aircraft, which would have a material adverse effect on its business.​

Avantair has experienced significant negative cash flow since its inception. In order to fund Avantair’s operations and capital expenditures, Avantair may be required to incur borrowings or raise capital through the sale of debt or equity securities.​

(Me here: Avantair has 3 years to raise $336,000,000 to buy the 50-ish more P180's it committed to. Bro....that ain't gonna happen. Sorry. Don't kill the messenger.)

 

[HazMat]

You mean you hope we go under. We appreciate you reciting the risk section of an SEC filing. This section outlines all possible risks if a risk is not put in this section and it happens the company getssued. It is true up until this year the company had a history of gaap losses. Cash Flow is different because the profit on sales is recognized over the term of the managment agreement.

Man you are the most disgruntled guy I hav ever seen. It is really time to move on. But if this makes you happy have at it

 

[gret]

This is normal boiler plate language for most companies when they lay out the risk factors that are required to be disclosed by the SEC.

One should be worried when the auditors give a going concern opinion.

 

[jppt2000]

This is normal boiler plate language for most companies when they lay out the risk factors that are required to be disclosed by the SEC.

One should be worried when the auditors give a going concern opinion.

Rumors persist! out look seems horrible!
Look familiar? or hypocritical.
Time to change your name and pony up another ten bucks for another screen name.uke:
Your buddy Hazmat too

 

[skyismyoffice]

Did a couple of charters for Avantair recently. I think they have way too much work.

All indications I see are that they are doing great. But that's just my unbiased opinion.

 

[hangarrat]

AINalerts: March 2, 2010
NetJets Suffers Loss in 2009, Sees Profitable 2010
NetJets lost $711 million last year and is so debt-laden that without parent-company Berkshire Hathaway’s guarantee of this debt, “NetJets would have been out of business,” Berkshire Hathaway chairman Warren Buffett said in his annual letter to shareholders on Saturday. In 2008, the fractional aircraft provider recorded $213 million in pre-tax earnings. Revenues at NetJets dropped last year by $1.465 billion–or 32 percent–versus 2008 due to a 77-percent fall in aircraft sales and lower flight operations revenues “primarily due to a 19-percent decline in flight revenue hours.” According to Buffet, “NetJets owns more airplanes than is required for its present level of operations and plans to dispose of selected aircraft over time.” However, he added that, at this point, further downsizing will not be required. But there are signs of hope. Under new chairman and CEO David Sokol, NetJets has reduced its debt from $1.9 billion to $1.4 billion last year and Buffett said that “as a result of actions taken to date…NetJets is likely to operate at a profit in 2010.” In the 11 years that Berkshire has owned it, NetJets has recorded an aggregate pre-tax loss of $157 million.

Using the logic presented by BTDI, NetJets should fold up and move along too. :laugh: Some guys don't have any understanding of business.

Since both Avantair, NetJets and every other fractional in the world is going out of business, I guess I should give up the best income and schedule I have had in aviation and go to truck driving school.

(just for clarification - I am in no way knocking NetJets for their losses)

 

[BeenThereDoneIt]

And I'm not knocking Avantair for it's losses. I'm knocking it's uneducated pilots who come here and try to tell people they are in the black when they arent. See how simple?

 

[wacoflyr]

Goats are a pain. Just now, for instance, two goats are staring at me from my back porch, having escaped from their very adequate meadow. To escape from the meadow, they had to climb over a five foot fence. These goats stand maybe two feet at the shoulder, and are no larger than a medium sized dog, so you have to admit that this is quite an athletic feat. I think I'm going to have to electrify the fence.