VIVA They Are Broke!

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Juan

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Apr 22, 2003
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I heard they are broke! 163 dollars in their account! They are not an Airline (according to the DOT and the FAA) who have said they have gotten numerous complaints and are invetigating the scam. Word is the DOT is sending a cease and desist to stop promoting themselves as an Airline.

You can t convert an L1011 from freighter to passenger with a miracle!
 

duped

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May 19, 2003
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Not only broke but they told the shareholders that they would be getting an offer for special shares before they reverse split. The shareholders have got nothing. They be a reverse split 800 to 1 and then for special shares they be split 1000-1, which means if sharehoders have 1,000,000 shares now then after split they have 1,250, but then after special shares split they have 1 share!

So if shareholders have 1,000,000 sares and want special shares they will end up with 1 share.
That means the real split be 1,000,000 to 1.

In America you can do anything!
 

avionics

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Jan 24, 2003
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Actually, they are giving the option to get a preferred share (face value of $10) for 1000 pre-split common shares. After 1 year, you get ($11/share price) common shares. If you have 1,000,000 shares and the stock trades at 0.002 pre-split, you get 1000 preferred shares. 6 months later you get a dividend. One year later you get another dividend and the right to convert you 1000 preferred shares into ($11,000/share market price) common shares.

If post split common shares remain at 0.002*800 (or $1.60) for the whole year, your new 6876 common shares will have a market value of $11,000. Still more that today's value of $2000 (450% higher).

Since the conversion will obviously occur after the 800-1 RS, the ratio will be re-adjusted to have the same effect.


Since your 1,000,000 pre-split shares are supposed to give you 1000 preferred shares, your 1,250 post-split shares should still give you 1000 preferred shares. So the conversion rate will be:

1.25:1 for conversion of post-split common shares to preferred shares.
 
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avionics

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I hope you did not ask them if Viva Airlines is an airline.

"Viva Airlines" will not show in FAA/DOT records. "Queen Air" is what you must ask them about. FAA/DOT record should eventually have Viva Dominicana as this will be the new name for Queen Air. Don't expect to find records for "Viva Airlines" or "Viva International" in FAA/DOT databases.
 

duped

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May 19, 2003
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Why they have not send paper work to shareholders for special shares?
Is not the reverse split May 29?
 

duped

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avionics said:
I hope you did not ask them if Viva Airlines is an airline.


That is funny. So if Viva Airline in not a airline why do they call it Viva Airline?

Is it Viva Airline taxi cab service?
 

Juan

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Apr 22, 2003
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avionics said:
I hope you did not ask them if Viva Airlines is an airline.

Should I ask if they are listed as a tour operator?

Or make it easy for someone with a simple mind like myself.

What should I ask to find out if the are a legitamite certificated Air Carrier?
 
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Art2Gecko

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Juan

Yes, but check who filed that one. Their competition. What else would you have expected them to file. Why did they not block the Dominican Cert then?
 

Juan

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The question started and you replied to Authority to operate as a certificated Air Carrier to the US. I agree that one day they will sell tickets using another Certificated Air Carrier. Which for all practical purposes makes them a Tour Operator, not an Airline IMHO
 

Art2Gecko

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Apr 1, 2003
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ok, how about this?

What if they operate their own planes internationally, and wet lease to the US. Does that make them an international airline, and a US tour operator? And if so, what is your point about the difference between airline and tour operator?
 

duped

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So it looks like DOT has not givin OK for Queen.
Does not look good for American stock players. Reversed split, no DOT ok, no papers for special stock, and only very little dollars in bank and on thursday 800-1 stock splits.
 

Juan

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Apr 22, 2003
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Re: ok, how about this?

Art2Gecko said:
What if they operate their own planes internationally, and wet lease to the US. Does that make them an international airline, and a US tour operator? And if so, what is your point about the difference between airline and tour operator?

http://www.dgacdom.gov.do/

Art, with all do respect I will give my opinion, I am not lookig to flame anyone!

http://www.dgacdom.gov.do/

Email them and ask if Viva or Queen is an Air Carrier. They will tell you yes, then ask them what are they Certificated for? They will say they are not.

In another word, they have the Authority to become an Airline (NOT FLY TO THE US) and as you say fly to other international points from the DR, but have not yet begun to demonstrate as an Air Carrier. Currently, as the DR is striving to become CAT 1, they are applying all the Rule of the FAR s. Which means VIVA/QUEEN would have to have operational Control. That is the key. It would take a minimum of 6 months to a year (IMHO) to achieve that. And cost mega bucks.

Now I don t know about their finance or plans. I can only go by what they publish. Or as others call it PR s.

Well they haven t made much headway!

So IMHO they will be a Tour Operator, not an Airline.

But if others want to call them an airline,,,,, fine!
 
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