FLYHT Aerospace Solutions Ltd V.FLY

FLYHT Receives Additional Purchase Order from Long-Time OEM

[PeterPiper]

FLYHT Receives Additional Purchase Order from a Long-Time OEM Partner

Wed., October 6, 2021, 7:04 a.m.

CALGARY, AB / ACCESSWIRE / October 6, 2021 / FLYHT Aerospace Solutions Ltd. (TSXV:FLY)(OTCQX:FLYLF) (the "Company" or "FLYHT") announced today that it has received an additional purchase order for Iridium modems and license fees from a long-time OEM partner. This order is valued at approximately US$1.5 million and builds upon the relationship previously discussed in press releases dated July 15, 2014, August 1, 2019,February 18, 2020 and July 6, 2021.

"Receiving this additional order from our valued OEM partner continues to signal the recovery of the aviation industry," said Gurjot Bhullar, Manager of Aircraft Systems at FLYHT. "Each follow-on order further proves the value of FLYHT's offering and strengthens our relationship with our partner. During these tumultuous times, we are committed to continuing to support our partner in delivering impactful avionics products as the world at large tries to find the new normal."

Under the terms of the existing agreement, the OEM customer will be licensing FLYHT's technology and delivering the Automated Flight Information Reporting System (AFIRS 228S) to their European airframer customer for three certified aircraft platform types. The orders require shipment throughout the second half of 2021 and the first quarter of 2022.

About FLYHT Aerospace Solutions Ltd.

FLYHT provides airlines with Actionable Intelligence to transform operational insight into immediate, quantifiable action, delivering industry leading solutions to improve aviation safety, efficiency, and profitability. This unique capability is driven by FLYHT's patented aircraft certified hardware products including AFIRS™, a satcom aircraft interface device which enables real-time streaming of flight information, cockpit voice and black box data streaming and TAMDAR™, which aggregates and streams airborne weather data in real-time. FLYHT is headquartered in Calgary, Canada with an office in Littleton, Colorado, and is an AS9100 Quality registered company. For more information, view our latest presentation here, or visit www.flyht.com.

https://ca.finance.yahoo.com/news/flyht-receives-additional-purchase-order-110400980.html

Piper

[TechOne]

Personally, am resigned to the fact that this will be a big loss that I will need to write it off.. Unfortunately, can't do anything with all the shares in RRSP account which is now RRIF..  Management should shop the company and sell it..  It is not going any where after all these years.. Sad..  Reverse split was a dumb dumb move.. Should have dumped it then..  :( 

[Givmeabreak]

Shoulda, coulda, woulda. Dump it now and move on. This thing is a mutt. I'm guessing they've tried to sell it and can't. Its not hard to sell a good comany. No matter the state of the economy.

[RayDonovan78]

Why would they sell when they can dilute shareholders again !! No love in the market for this old dog......Once again, Consolidation killed this stock !!!  Excellent job Management !!!

[Thylor09]

As a new shareholder that entered the stock at 0.75 cents on the so called "dillutive financing", I am happy so far. Since I came on board there has been a small acquisition that should generate reasonable revenue next year, plus an additional purchase order from a current customer. I am hoping for at least one more acquisition and several more new orders going forward. The companys

[Givmeabreak]

Boy, are you ever going to be disappointed. The order book is full of SATCOM deals. Don't count of them converting those into SaaS revenue. They will continue to struggle now and forever. The last aquisition was a disaster, I suspect this one is nothing more than a make work project. Look like they're doing something. Sad state of affairs indeed!

[RVXoldtimer]

Although the consolidation hurt and still does, there have been much bigger issues. Bear in mind that this stock hit a high of about $12 on a post-consolidation pricing basis in late 2007 with little product compared to now. I know because I sold a bunch at $8.50 in December 2007. The consolidation was dumb and had the effect they usually do. They are a show of desperation in a company like this

[tannin]

I'm fine with no analysts opining, and fine with WEE - suit of offerings expanding, more planes flying, tuck in acquisition, $$ in treasury, great mgmt. Future is forward, past is gone.

[RayDonovan78]

Well said, they missed the boat 10 years ago. Management is all NOISE and can not be trusted. The only question is, when will the next dilution take place ??

[Thylor09]

When one is a 100 percent certain in the stock market they often end up being wrong. The only question is, when will the next dilution take place ?? I have a mixed view and I am not jaded or burnt out like Ray. What happened 5/10 years ago is means nothing to me and many others. What matter is future conversion of pipeline into sales. Can they do it?  Lets wait and see? Since I became

[RVXoldtimer]

"What happened 5/10 years ago is means nothing to me and many others." One of the most important factors that investors look at when evaluating a company is management's past successes or failures. FLYHT is being punished now for their management's past failures so the past does matter. They have to show future successes to change that and we are still waiting for that.

[Thylor09]

I believe that my 75 cent entry price fully reflects managements past mistakes. People can change and learn over time and I would not assume that they will continue to make the same mistakes.  We will find out it this is true over the next 18 months. So far they have been delivering in a small way for me.

[Givmeabreak]

You know what they say about assuming...

[RayDonovan78]

Are you for real ??? "Burnt out"...Call it what you want, it is the truth !! They have been kicking the can for close to 20 years my rosey friend. 10 years is when they actually had chance with their products, now others have the same. If you feel so strong sell the farm and buy in so I can get out !!!! Lol

[tannin]

Great value in this stock. Sometimes, good management and stock holder patience are required. And we have good management.Those who don't have the patience, or don't agree with me about management, still seem to be here as shareholders. Odd. I'm sitting on a big loss; silly me. Those buying at current sp will do very well imo. Much stronger company, much less expensive. Timing, timing.

[Givmeabreak]

Zombie company!

[Thylor09]

Rosey?  Though I sounded neutral. I said "Lets wait and see"  Ray, I will only buy more on significant positive news.  We have not had significant positive news yet.

[Givmeabreak]

Don't hold your breath!

[Thylor09]

Don't think I will have to hold my breath very long. The dynamics of this industry have changed dramatically because of the covid 19 crisis. Its one of the reasons I bought at 75 cents

[Givmeabreak]

Rubbish!

[RayDonovan78]

You must be turning blue by now !!

[Thylor09]

LoL No I am giving fly another 18 months.

[Coffeeme]

Some of us have given them 18 years with the same results.... back to negative results! Glad you have them money to pay their salaries to keep them fed and watered.

[Thylor09]

I think that there has been a massive change in their customers priorities and requirements.  These changes may lead finally to some decent results over the next 18 months.

[RayDonovan78]

Unfortunately it looks like the market does not agree. 

[Thylor09]

Disagree I bought at 75 and its around there now. What matters is were it is in 12/18 for me

[Thylor09]

Patience Ray, it will take a bit of time

[RayDonovan78]

Ok, I should have another 20 years in me.

[Thylor09]

I actually had a look at this stock in detail several times over the years and turned it down.  The combination of fundimental changes to customer buying patterns and the low stock price of 75 cents was enough for me to give it a shot this time. Ps On that 75 cent money raise I bought there was only 2 Canadian orders, the majority of the money came from US inverstors. As you can see when

[Givmeabreak]

Should have passed and bought it at .69!

[Givmeabreak]

Actually, .069 for those who have been around this mutt long enough!

[Coffeeme]

Not sure I can believe that, but hope you are right. Me expectation is that in 18 months they will be back to the feedbag looking for $5M or more and more dilition at <$0.75 per share... and running about $1M in losses per quarter.

[Thylor09]

They repriced the warrents to $1.25 because they think the stock will be above that in 6 months.  We will see

[Thylor09]

Ray, They have another chance right now over the next 18 months. I looked at this company in 2015 and had no interest in buying I also did work on it in 2018 and had no interest in buying. I looked 4 months ago and finally liked what I was seeing. I like stocks when most people have given up and they finally have a chance to turn. The company has a big backlog, the biggest in their history

[RayDonovan78]

Peter, Your tooooo slow, your buddy CF beat you to the market rocking news release. As you can see by the down day the market just loved it !!