VIVA They Are Broke!

[duped]

I think the whole thing is just one silly trick to fool stupid people.
Stupid people got tricked and now have lost money and are mad.

A fool and his money are soon not together.

Art, did you lose all your money beliving in the big airline ?
Big airline with less than $200 in the bank and no airplanes?

Art, want to buy a bridge? It is nice, it is in Brookland N.Y. I have a letter of intent to buy it, so if you give me money now the bridge will be yours.

Send your money to: Duped Bridge Company, The owners and constructors of big bridges. ( but we do not yet own any bridges and have never built one.)

 

[Art2Gecko]

Juan

I have no interest in "flaming" either. Just trying to get to the bottom of things. So if what you say is true, (from what the CAA says) they cannot operate in the US? is that correct??

Then I don't understand this from their recent PR:

<i>Viva Airlines, Inc., through Queen Air, Aeronaves Queen S.A. has obtained presidential approval on its <b>airline operational authority certificate.</b>
Accordingly, Viva Airlines, Inc. is <b>officially able to conduct flight operations.</b> Upon commencement of operations, Viva will display the flag of the Dominican Republic.

Robert Scott, President and CEO of Auxer, stated, " We were informed a few weeks back that the presidential approval would be a formality and we have been working our plan accordingly. However, we are pleased that the approval was received in the time frame that was indicated to us".

The <b>airline operational certificate allows Viva the ability to provide passenger and cargo services from Santo Domingo to New York, Miami, San Juan, Puerto Rico, Caracas, Buenos Aires, Santiago de Chile, Sao Paulo, Milan & Madrid"</b>.

"In addition to the above markets, we are anxious to make further application to be able to provide service to the Canadian markets". </i> http://biz.yahoo.com/bw/030522/225303_1.html

So is the company PR in error, or is somebody not telling the whole story at CAA??

 

[Juan]

I did not lose any money in this. My interest was to find alternative transportation to a beautiful island with some great people. I travel to the DR every other month. AA is making a killing and raising their prices. There are many unspoiled areas of the island, that just make for a tranquil setting, I will retire there.

I am tired of playing the roullette wheel with these operators that do not perform. Please let me know when there is a serious AIr Carrier that believes in it s people, island and customers!

 

[duped]

Juan, how about a boat? That is a nice way to go to D.R.

 

[Juan]

TRAVERSE CITY, Mich.--(BUSINESS WIRE)--May 22, 2003--The Auxer Group, Inc. (OTCBB:AXGI - News) announced today that its subsidiary, Viva Airlines, Inc., through Queen Air, Aeronaves Queen S.A. has obtained presidential approval on its airline operational authority certificate.

The Auxer Group made the announcement!

My recommendation is to email the CAA and ask them if that Authority means the can operate airplanes....or if they can sell tickets via a wet lease!

I am sure that once they prove to the Dominican Authorities they are financiallly fit and capable of having operational control , they will be able to operate their OWN aircraft. But I don t see that in the near future. Especially in light that they don t want to disrupt their chances of going to CAT 1.

In the US the typical start up takes 9 to 12 months and 2 million US Dollars (Not RP).

Thewy would need to put manuals in place, set up dispatch do proving runs, set up a maintenance dept, tooling, software ... etc

 

[Juan]

Duped, actuyally there is one operating (or was) from Aguadilla in Puerto Rico.

 

[Juan]

Sources of Liquidity

At March 31, 2003, the Company has $163 of available cash. Since inception the Company has accumulated a net loss of approximately $11,252,732.

The Auxer Group, Inc. will require a minimum of $3,000,000 of working capital to complete Viva Airlines, Inc, transition from a development stage company to full operation.

Auxer does not currently have the funds necessary to provide working and expansion capital to Viva Airlines, Inc. Auxer will only be able to provide the needed capital by raising additional funds.

The inability to raise funds or a continued lack of funds could result in the failure to complete needed acquisitions of certain aviation assets or payment of certain related expenses that would delay or prevent the commencement of the operation of Viva Airlines, Inc.

Management is optimistic that the Company will be able to borrow sufficient capital to fund Viva Airlines, Inc.


Right there tellls me they will have a hard time. This came from their filing.

 

[duped]

Maybe they are trying. But with no money what can they do? Nothing!

Who will lend $3,000,000 to a company with no assets and a record of $11,000,000 loss?

You would be loco to give money to such a company. No bank in the world is so foolish.

 

[Art2Gecko]

Juan

I am very familliar with their filings. Yes, the financing is the big question. I have heard rumors that various financings are in discussions but I have nothing firm. Auxer/Viva, and particularly Julio Rosario are playing this very close to the vest. I have emailed Rosario several times and merely gotten cryptic (all is good but can't give details) types of responses. I have also emailed the CAA several times but gotten no response.

I do appreciate your responses and input to the discussion. Do you know anything about Julio Rosario? I hear that his family is well connected in the DR government? Is this true?

 

[Art2Gecko]

Duped

The 11MM loss was for the company's previous management. This management took over in January, and have since eliminated most of the corporate shell's debt, albeit through unfortunate shareholders, as the PHDC bondholders converted their notes.

 

[Juan]

I reallly don t know anybody in power there. Please understand my original post was not a flame. It was meant to inform others like me that travel to the DR of misconceptions. I didn t inverst any (I am in no position to invest) I am saving my money to retire there.

In my spare time I use the net for research. I like to read and ask questions.

 

[Juan]

The way I understand teir Presidential Authority, I equate it with the DOT part 212.

They can Perform Transportation between the cities listed. ie sell tickets , tours, etc.

But they can not provide the service. ie operate their own aircraft.

That falls under a different category.

Another example - totally unrelated -

I saw an ad in the Newspaper for a New Car, when I went to the dealer it was a demo, the word new meant never titled, Brand New meant never titled or used.

A play on words.

 

[carlos]

great!!

thank you all for your opinions and posts..I think enough has been said on this until something new happens.


also, if you are posting an opinion, please do not make it sound like it is a press release or something that is a fact.