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Harbor Diversified Inc
W6390 CHALLENGER DRIVE, SUITE 203
Phone: (920) 749-4188p:920 749-4188 APPLETON, WI  54914  United States Ticker: HRBRHRBR
On March 26, 2024, the audit committee of the board of directors of Harbor Diversified, Inc. concluded, after considering the recommendations of management, that the company’s previously issued (i) consolidated financial statements as of and for the year ended December 31, 2022 (ii) interim consolidated financial statements as of and for the first three quarters of the year ended December 31, 2022, and (iii) interim consolidated financial statements as of and for the first three quarters of the year ended December 31, 2023, should no longer be relied upon due to misstatements contained in such financial statements, and that such financial statements should be restated. The Audit Committee’s conclusion was based on management’s review of the accounting for certain revenue under the capacity purchase agreement previously entered into between Air Wisconsin Airlines LLC, a wholly owned subsidiary of the Company, and United Airlines, Inc.
Business Summary
Harbor Diversified, Inc. is a non-operating holding company that is the parent of a consolidated group of subsidiaries, including AWAC Aviation, Inc. (AWAC), which is the sole member of Air Wisconsin Airlines LLC (Air Wisconsin), which is a regional air carrier. Its primary business consists of serving American Airlines, Inc. (American) and its customers through Air Wisconsin's provision of regional airline services. Air Wisconsin owns around 63 CRJ-200 regional jets, each of which is configured for single class seating. The CRJ-200 regional jet offers many of the capabilities and amenities of larger commercial jet aircraft, including flight attendant service and a stand-up cabin. It is also the direct parent of three other subsidiaries: Lotus Aviation Leasing, LLC, which leases flight equipment to Air Wisconsin, Air Wisconsin Funding LLC, which provides flight equipment financing to Air Wisconsin, and Harbor Therapeutics, Inc., which is a non-operating entity with no material assets.

Scores and Ratings
FRISK®
Score		 Z''
Score		 PAYCE®
Score		 DBT
Index		 Moody's
Rating		 Fitch
Rating		 DBRS
Rating
YesYes-----

Financials, News and Filings
Latest
Statement		 Last
Audit
News		 SEC
Filings		 Bankruptcy
Filings		 Suit &
Judgment
Filings		 Tax
Lien
Filings
12/31/202312/31/2022YesYes---

Industries
SIC Code Description
2834 Pharmaceutical preparations
4512 Air transportation, scheduled
7359 Equipment rental and leasing, not elsewhere classified
6719 Offices of holding companies, not elsewhere classified

Officers and Directors

Title
Name
Age		 Title
Date		 Start
Date
Chief Executive Officer, Secretary Christine R.Deister 73 3/1/2020 3/1/2020
Chief Executive Officer, President of Air Wisconsin Airlines LLC RobertBinns 58 3/1/2020 3/1/2020
Senior Vice President, Chief Accounting Officer and Treasurer of Air Wisconsin Airlines LLC GreggGarvey 57 1/1/2022 1/1/2022
4 additional Officers and Directors records available in full report.

Business Names
Business Name
Air Wisconsin Airlines LLC
Air Wisconsin Funding LLC
AWAC Aviation, Inc.
5 additional Business Names available in full report.

General Information
Number of Employees: 1,008 (As of 12/31/2023)
Outstanding Shares: 58,534,309 (As of 9/30/2024)
Shareholders: 388
Stock Exchange: OTC
Federal Tax Id: 133697002
Fax Number: (302) 636-5454
Email Address: rstone@holliseden.com


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Wednesday, November 20, 2024