March 18, 2019
Subject: FLYHT Financial Research Report
Dear Shareholders and Interested Parties;
FLYHT decided this year to engage KRC Insights to prepare some financial reports on FLYHT Aerospace Solutions Ltd. Mr. Krugel is familiar with FLYHT and is a shareholder. He has been following FLYHT closely and had expressed a desire to help FLYHT bridge the understanding gap that may exist between FLYHT’s operations and the understanding of those operations in the capital markets.
Mr. Krugel is an active participant in the Canadian small cap market with over 22 years’ experience formerly both as an Equity Research Analyst and an Equity Salesperson at Canadian institutional brokerages. This background allows him to provide a unique perspective to his consulting clients by merging his in-depth experience in the capital markets with his love of macro-economic trends and valuation knowledge.
As your CEO, I have been earnestly working since my arrival to regain analyst coverage through the many financial institutions that we periodically visit in order to provide updates on the exciting activities at FLYHT. However, the two raises which we have done since my arrival (Equity Raise in April 2016 and a Convertible Debenture in October 2018) were done privately, since we were able to attract the necessary capital in a more cost-effective way. In today’s microcap environment, this unfortunately seems to have prevented analyst coverage reengagement, thus far.
After consideration, we decided that engaging Mr. Krugel would be a useful way to help communicate what we see as a very exciting future in a way the capital markets may better understand. Our business is not simple, and commercial aerospace is a bit esoteric. We hope that this report helps to bridge any comprehension divides which may exist in the mind of some potential investors and institutions. We expect that Mr. Krugel may update the report after new financial results are published. There is quite a bit of information in the report, which I believe helps to frame the actions the Board and management of FLYHT have been taking in order to grow the business and create value.
The report can be found at the following link: http://flyht.com/why-invest-n-flyht/
Best regards –
Thomas R. Schmutz CEO, FLYHT