To Our Valued Shareholders:
As the company undergoes its transition and preparation for operating as a Part 121 air carrier, we understand that it is vital for us to maintain transparency and hold ourselves to the standards we set forth during our Special Shareholders Meeting in May 2017. To that end, we have been working diligently for several months to acquire Songbird Airways and are committed to closing the deal. I want to assure you that we are eager to resolve the delays in the closing with Songbird and remain as dedicated as ever to moving beyond this chapter of our pre-revenue business in order to rapidly proceed toward scheduled passenger flights. Our goal has and always will be to create a successful company that puts its shareholders above all else. Completing the Songbird acquisition will put us in a position to generate revenue while focusing on growth and profitability for both our business and our investors.
Since USGlobal's inception in late 2016, the executive team has been striving to complete several critical tasks that will lay the foundation for successful operations. We will be providing more detail in the comings weeks, but we want to give some preliminary updates. First and foremost, we have completed the audit for fiscal years 2015, 2016, and the first three quarters of 2017 and are preparing the final drafts for legal review and release. Second, our business plan, pro forma, corporate name and stock ticker change will follow the release of our audited financials. Finally, we have begun reaching out to travel agencies, public relations, and marketing firms to create a powerful and compelling branding campaign leading up to our initial flights.
As we approach the holiday season, I want to thank all of you for your loyalty, commitment, and patience as USGlobal completes the final steps to acquire Songbird Airways. I look forward to a bright future for USGlobal's shareholders and everyone who has worked so hard to make our vision a reality.
Anthony D. Koulouris
Chairman, President & CEO