Everything I say is purely my opinion, and should not be used as a recommendation to buy or sell any security.
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Opinion is the absence of fact.
The March 6th letter was not released to the public. It does not matter what anyone believes. The facts are what they are: BLTA received a notice in late Feb/early March from the SEC that, to the best of our understanding, emphasized the need for BLTA to release their financials. That didn't happen. We have no knowledge of what the letter stated regarding actions the SEC intended to take, if any, but it is clear now that the SEC made a decision to suspend the stock due to a lack of current financials.
There is, at this time, no specific evidence that the SEC wants to shut down BLTA. The nature of the suspension is almost entirely explained by the lack of current, audited financials. It is reasonable to speculate that completing the audit to include Q1 2018 soon (whatever realistic time frame that may be is unknown to us), even after the suspension expires and the company remains trading on the Grey sheets, will be the most important step toward filing to return to the OTC. How the company intends to address the May 31st court date is also unknown to us. If they are smart, they'll admit that they failed to release financials on time and will show that they are making a proactive effort to get it done.
There are significant benefits in this scenario that the company can take advantage of if they're keen on getting a large capital infusion and are willing to leverage the Grey sheets for improving their share structure.
Time will tell if they've got what it takes. As Integral recently said, it will be very interesting to see if GBH CPAs is still the company's auditor.
No, it doesn't. There's a difference between "reading between the lines" and making conclusions based on limited information. No one knows what's really going on within BLTA. Everything deduced from the letter - that wasn't stated directly by the SEC - is speculative at best.
The SEC sent two letters. Both were posted on this board. There is only one copy. Neither letter states that the SEC is going to shut down BLTA.
Q3 2018 hasn't started yet. We're still in Q2.
The former management team would not have been able to liquidate their stock without filing publicly. On top of that, there is not a single broker on this planet who will accept private placement shares after the company stopped filing audited financials. Even in 2015, it was next to impossible to find a broker who would accept private placement unless the stock was .02+ per share. Why do you think half O/S is still restricted? No one will take the stock unless the company becomes current.
The info in Bloomberg Terminal or w/e financial terminal you're using for this stock is likely inaccurate given that it's showing former management as not owning stock. Their shares are in PP form, and still restricted.
"On May 22nd we will shut you guys down."
Why is this in quotes? The letter never stated it. Seems odd to quote something from the SEC that they never stated.
People will migrate to cities over time, it's already starting to happen. As a city resident, I'll tell you it's a lot more convenient to order groceries online (using AMZN or Fresh Direct) and delivered to my front door. Most of the time the quality of the produce is determined by the vendor so you know in advance what you're getting.
Saved time = money
The June 15 long call vertical that's long the $22 Call and short the $23 call has a max profit of $53 and max loss of $47, with a 60% probability of hitting 50% of its max profit by expiration. Makes the trade a bit less risky.
It seems like a far safer investment to buy into existing, stable airlines....The legacies have consolidated to 3 (NW-DL, CO-UA, US-AA), and they're printing money now.
UAL is down -13.9% over the last 12 months.
EOM
Barry currently, according to recent SEC filings, now holds zero shares, as do Russell and a third person - all three now show zero shows as of the end of the third quarter.
Third quarter of what year?
There are no SEC filings under BLTA's Corporate Filings that validate your statement.
I doubt that.
I answered your question. I don't blame the FAA. I merely provided a response to your request.
Right. Baltia hires auditor. Auditor loses registration. Baltia parts ways. Integral makes an effort to point out that the auditor left due to losing registration, thereby disproving a claim. A purposeless effort perhaps.
Fast forward to mid-2017, Baltia hires GBH CPAs and as far as anyone can tell, GBH is still the company's auditors.
I'm looking forward to GBH's annual report just as much as you are.
Yeah - all three are former Baltia auditors. This isn't new to anyone who has been following the company. Their current auditor is GBH CPAs (http://www.gbhcpas.com/), per their press release that I linked in my post to you. If I'm not mistaken, the company parted ways with the auditors you mentioned long before the auditors lost their registrations.
At the meeting we also announced that we entered into an engagement agreement with GBH CPAs, PC, pursuant to which GBH will serve as our company’s registered independent public accounting firm and will conduct audits for our 2015 and 2016 fiscal years. Getting these audits done and providing the related information to the market is also a major priority for us as this, along with the reverse stock split, when implemented, will set the stage for our becoming a fully reporting, fully trading public company.
https://www.usglobal.com/press-release
Curious why you think Baltia has no auditor.
BLTA has no auditors, huh?
My spidey senses are tingling with signs of a good week for BLTA...just an opinion, of course.
I agree with you, something tells me we might be in for a huge surprise...just my humble opinion, of course.
Going to be a very good week for many of us IMO.
Just my opinion...but I strongly believe this is going to be a very good week.
$USGL
That Songbird plane, which is really the parent company's plane, is very intriguing...I think some of us might take the hint.
Doug? No. But his name is spelled "Douglass" per the press release in April 2017. So whoever forged this fake legal document that Asterixus posted did a terrible job.
And I'm confident Asterixus will be sued if this document proves to be truly forged.
It’s a fake, forged ILLEGAL document. Lol...nice try though.
This is fake. Doug's name is misspelled LOL
Read the 8k again.
It was stated in their last 8-K
There is no October 14 letter. Just another nonsensical myth.
Because Baltia dba USGlobal Airways is about to buy the Part 121 through Songbird. Why would the DOT continue treating them as if they were still trying to pass the mini evac?
This isn't brain surgery, folks.
Yes, it's a "fitness" test to determine if USGlobal can operate properly, which is expected.
The letter (from September, by the way) simply states that the DOT believes Baltia does not intend to pursue the traditional certification, which is 100% true since the company has released $1 million to purchase Songbird Airways, which has a Part 121. This is GOOD NEWS.
....it's a penny stock, it doesn't trade pre-market or after-hours. The bid/ask can be anything outside 9:30-4:00pm EST.
Wow....
Why, Norm? They aren't legally obligated to PR anything. The SEC filing has 4 days from closing. The closing very well could have happened today.
Doesn't look like the market is worried about it. At $40/share, 4.3 million shares is $172 million the company will raise. Dilutes each share by about 20% using the market cap. Could see a drop but I doubt it'll go to $20. It's expected for a development-stage biotech in Phase 3, with more trial results to come in June 2018.
Bullish community sentiment for this company since the tracker was placed on IHUB.
First, if they wanted to sell more shares, the R/S would give them the best opportunity. So the fact that they haven't done it yet tells us that they're not interested in dilutive financing. Zero shares have been sold since Tony became CEO. And they've never even suggested an interest in selling open market shares, only preferred stock to accredited investors which is non-dilutive.
I realize the majority of the confusion from non-investors is derived from a lack of understanding of means to finance a company like USGlobal without dilution. It's hilarious to read.
One plane flying once per week? What in the world are you talking about, lol.
Yikes....lots of confusion here, ChristineC. Do some due diligence first, then speak.
No mystery at all. Read the SEC filings, pretty self explanatory.
It's all on the SEC website.
Is Doug Chouinard part of USGlobal Airways?
I forgive you, P.P.