Baltia Air Lines Inc. (fka BLTA)

[LongTimeObserver]

Oops. A classic Rule 16(b) group.

"One has to always be very cautious when answering your questions. For some odd reason, you always appear to twist things in search of some evil intent.

1. No - Baltia doesn't hold the meetings, "we" do. Months ago I asked Barry to hand out my number to the top investors and told him to have them give me a call. I can't tell you how many he handed my number out to, but I did get responses from 7 individuals. Its not always easy to coordinate, but via e-mails and phone calls and the like, we are able to pull together a few guys at a convenient restaurant to discuss financial matters.

2. When the time comes, the "whales" will be purchasing PP, but unlike the rest of you who can obtain PP at a discount, we have agreed amongst ourselves to purchase PP from HQ at the going market rate. You see, we are trying to limit dilution, with the knowledge that the hundreds of millions of shares that we each already own are going to make us more than enough $ in the very near future (but don't fool yourself, either, because even PP purchased at .024 today is going to be worth a hell of a lot more in 6 months from now!) Remember the last Authorized Share increase? That was done in anticipation of the funding needed for Phase III. Of course, if all goes extremely well, then none of those shares might ever need be sold - but it is better to have them handy just in case (ie: if cargo revenues are enough to cover fuel costs, than I may not have to be called upon during the proving flights).

3. If it were not for the VP of finance, Baltia would have been a done deal years ago. Every one at Baltia HQ realizes that....from Igor to Paul to Tony.....right on down to the woman that cleans the bathroom (ok...a little embelishment there, but the truth is that Barry has been the driving force behind the financing that has kept Baltia alive these past 7 or so years). Remember that before Barry came along, Baltia stuggled for over 15 years without accomplishing all that much. It is only in the last 5 years or so that the big dollars have rolled in that have enabled this company to make the strides necessary to get to where it is today.

Ok..........now twist away at my words.........."