N705BL served its purpose and was scrapped; it will never fly again. That has nothing to do with a belly landing years ago and everything to do with the fact that to bring N705BL (originally owned by Pakistani International Airlines) up to par with FAA requirements would have cost about 4 million. There are plenty of interesting planes here in the US that can be purchased and made FAA complaint for a lot less. Everything Baltia needed from N705BL was removed and the plane was deliberately made no longer airworthy so that there would be no potential liability to Baltia when the new owners took it over. That was not a spontaneous decision.....N705BL's fate was sealed the day Baltia acquired N706BL. It just took a little time to strip it and sell it.
N706BL's communication equipment is up to date and fully capable of meeting the frequency requirements for international flight to Europe (or anywhere in the world for that matter). A plane flying internationally has to be prepared to be diverted in case of an emergency and therefore must be equipped to land in any country. Rest assured, the FAA would not have been examining our manuals for this long if our equipment didn't even meet the necessary standards.
Unfortunately very few investors know about Baltia at this time. Therefore there is next to no demand for Baltia shares. Anyone who wants to liquidate (for whatever personal reasons) must therefore be willing to offer those shares at a lower price. The faster you need to liquidate, the lowere the pps you must be willing to take. If you want to sell your house quick, you have to be willing to drop the price. Same thing goes for Baltia shares. Perhaps someone simply cannot wait any longer. Be glad this seller is dishing them out over time.....imagine where the pps would go if he tried to sell 10 million shares in one day. Hopefully he will be done soon and no one else panic's and follows suit. And rest assured, this is not coming from inside Baltia or anyone who "knows" something. Anyone on the inside or who "knows" something knows that we are very close to hearing from the FAA. That first announcement will not be a "go"....that first announcement will itemize the things we need to tweek in our manuals. Baltia anticipates its team can incorporate the necessary changes to the manuals in 3 to 5 days. Those changes don't require a resubmission, just a confirmation that the changes have been made. To be expected. If there were NO CHANGES, then the FAA could be accused of DOING NOTHING these last 6 months. Nothing is PERFECT. Be glad the changes are minor and easily implemented.
PRs...admittedly weak and flimsy to date. Really still walking on thin ice until the FAA gives the stamp of approval on those manuals. We should anticipate an updated message (don't expect it to be too detailed) posted on the Baltia web site in the very near future. I would prefer that to a mailing since many of you are not on Baltia's snail mail list.
Expect that pps to ride around 2 cents or below for the next few weeks. I am still believing that will reverse itself in the first week of June....
GLTA...........
