Basta Holdings Generates Nearly $1 Million in Monthly Revenue for March 2014
21 April 2014 - 3:00PM
Basta Holdings Corp. (OTCBB:BSTA), an aviation
services and logistics management company, today announced that it
booked $959,981 in revenues during the month of March 2014.
Although there is no guarantee that Basta Holdings will generate
this income in the future, its revenue for March 2014 is putting
the Company on pace to generate at least approximately $11.5
million in anticipated annual revenues.
As previously reported, on January 31, 2014 Basta Holdings
entered into an agreement with WAB International, Inc., a provider
of heavy helicopter long-term charter and logistics management
services, to assume the management of specific aviation service
contracts that generated approximately $70 million in revenue in
2013 between WAB and its affiliated group of companies.
Also as previously reported, on January 31, 2014, the Company
entered into a marketing agreement with Monarch Air Group, LLC, a
provider of aircraft and crew management services for rotary and
fixed wing aircraft as well as chartering on-demand private,
corporate and luxury flights.
March 2014 represented the first month of revenue-generating
operations for Basta Holdings following these agreements.
Additionally, the Company is in negotiations with major aviation
companies in China and Africa and plans to expand its long-term
heavy helicopter leasing business and establish joint ventures in
the acquisition and development of maintenance, repair and overhaul
(MRO) facilities. Management also expects to enter into long-term
aircraft leases and acquire additional assets to increase the size
and efficiency of its fixed-based operator (FBO) operations.
"Basta Holdings is pleased to report strong initial revenues
from our recent partnerships in the fields of heavy helicopter
leasing and private aviation and we anticipate these will generate
multi-million dollar annual revenues for the Company. These
agreements serve as a solid foundation as Basta Holdings
establishes itself as a leading international provider of
independent aviation maintenance, repair and overhaul (MRO)
services," stated Jacob Gitman, Ph,D., President of Basta Holdings
Corp.
"This is a very exciting time for our shareholders as the
company plans to experience significant growth in 2014. The soaring
worldwide demand for commercial jet transport fleet provide a
tremendous market opportunity for Basta Holdings, particularly in
the US and China. We believe our unique, market-changing MRO
business model will allow the Company to rapidly acquire a
significant market share and sustain long-term growth," continued
Dr. Gitman. About Basta Holdings Corp.
Basta Holdings Corp. provides contract procurement, business
development and management services in the aviation and logistics
industries. The company specializes in management of long-term ACMI
leases of fixed wing and rotary passenger and cargo aircrafts and
private business aviation, which includes charter, maintenance,
overhaul and FBO development and management as well as various
auxiliary services. For more information on the company, please
visit www.bastaholdings.com. Forward Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. All statements
other than statements of historical facts included in this press
release are forward-looking statements. These statements relate to
future events or to the Company's future financial performance, and
involve known and unknown risks, uncertainties and other factors
that may cause our actual results, levels of activity, performance
or achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or
implied by these forward-looking statements. No past revenue or
other performance can guarantee the same or better performance in
the future. Investors should not place any undue reliance on
forward-looking statements since they involve known and unknown,
uncertainties and other factors which are, in some cases, beyond
the Company's control which could, and likely will, materially
affect actual results, levels of activity, performance or
achievements. Any forward-looking statement reflects the Company's
current views with respect to future events and is subject to these
and other risks, uncertainties and assumptions relating to
operations, results of operations, growth strategy and liquidity.
Such risks, uncertainties and other factors, which could impact the
Company and the forward-looking statements contained herein are
included in the Company's filings with the Securities and Exchange
Commission. The Company assumes no obligation to publicly update or
revise these forward-looking statements for any reason, or to
update the reasons actual results could differ materially from
those anticipated in these forward-looking statements, even if new
information becomes available in the future.
CONTACT: Seal Point Consulting
888-959-7095
ir@sealpointconsulting.com
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