Harbor Diversified is a shell company with no active operations, following the sale of its aviation business. Historically, Harbor operated Air Wisconsin Airlines, a regional carrier that provided passenger air service as a feeder carrier for major airlines, most recently American Airlines. Under this model, Air Wisconsin flew Bombardier CRJ-200 regional jets under capacity purchase agreements. The major airline partner controlled scheduling, ticketing, pricing, and seat revenue, while reimbursing pass-through costs such as fuel. In return, Air Wisconsin supplied the aircraft, flight crews, and maintenance, receiving fixed fees based on flight hours, departures, and operational metrics. Following the termination of its commercial flying contract and the sale of its flight assets, Harbor currently holds no operating assets and generates no commercial revenue. Harbor's assets consist of cash, cash equivalents, and marketable securities. Management is evaluating strategic alternatives to deploy its capital, including acquiring an operating business in any industry, distributing capital to shareholders through dividends or share repurchases, or pursuing a complete liquidation.