RE:RE:Canada JetlinesGoldennuggets1 wrote: CanadaBuyer wrote: Was this company not going to start flying October? Now I have heard December, then I hear June, 2020? So what is it. Have they not been stating we will fly five (5) years already now? Can someone let me know what is really happening..
Re what is really happening. JET is under capitalized but none the less has for years set phoney-baloney / schemo-dreamo target dates to launch their revolutionary air service.
On Sept 30th JET once again failed to meet the "funding milestone" that would enable them to move to becoming a real airline.
I suspect JET is done and the Sept 30th failure is the one that will cause the company to cease operations as a wanna be airline. Look at their Q2 financials and u can see they are broke (assuming expenditures in Q3 were similar to the previous quarters) and with no money the creditors, landlords etc will shut them down. How can they meet payroll without a capital injection ... I would think any employees will likely bail soon.
Am I missing something? Judging from the stock price action the past week there is some action to support the share price which likely indicates JET is attempting a stop gap financing ( at 20 cents ) of some kind in order to survive but what is different this time? I suspect JET is done.
I sold all my JET in the mid to high 30s and I'm happy I did!!
Goldennuggets, I hope you did not lose money at 30's but at least you stoped the bleeding. You are right about meeting payroll. I suspect a ton of employees got stock options of some sort, mostly under water now. Thumbs up for your post.