Mon, Apr 7, 9:25 PM (13 days ago)
**Altair International Corp. (ATAO)** **Financial Performance:** - **Revenue:** $20,751,139 in 2024, up 2.8% from $20,184,074 in 2023. - **Net Income:** $(2,191,235) in 2024, compared to $(144,823) in 2023. - **Earnings per Share:** $(0.01) in 2024, $(0.00) in 2023. - **Operating Expenses:** $3,545,662 in 2024, up 3.8% from $3,415,246 in 2023. **Strategic Overview:** - **Merger:** Altair acquired Premier Air Charter, Inc. on March 11, 2025, accounting for the business as a reverse recapitalization. - **Fleet:** Operates various aircraft, including Challenger 601, Gulfstream IV, and Citation X. - **Market Position:** Competitors include NetJets, Flexjet, and Wheels Up. Altair focuses on safety, security, and customer care. **Future Outlook:** - **Growth Strategy:** Expanding fleet, enhancing technological capabilities, and leading in sustainable aviation practices. - **Regulatory Compliance:** Adhering to FAA and DOT regulations, with a focus on safety and operational excellence. **Risk Factors:** - **Financial:** Dependence on related parties for funding, potential liquidity issues, and high operating costs. - **Operational:** Pilot shortages, aircraft maintenance, and regulatory compliance. - **Market:** Competition, economic downturns, and fuel cost volatility. **Financial Condition:** - **Liquidity:** $997,117 in current assets and $5,358,619 in current liabilities as of December 31, 2024. - **Debt:** Significant long-term debt obligations, including a $3.8 million loan with a balloon payment due in 2026. **Market Position Changes:** - **Shareholders:** 279,848,293 shares outstanding, with TIPP Aviation LLC holding 85%. - **Trading:** Listed on the OTCQB Market under the symbol "ATAO." **Changes Due to Merger:** - **Fiscal Year End:** Changed from March 31 to December 31. - **Executive Changes:** Sandra J. DiCicco Bonar appointed as Chairman and CEO, Ross David Gourdie as President, Secretary, and Treasurer.