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There was wrong doing, IMO by Barry Clare. In the SEC filing, it is stated that Barry said Baltia would be flying in 2012 (I know he said that to investors in 2009, 2010, 2011 , etc..). People bought in to Baltia based on his statements and Barry personally profited. IMO< he would say anything to get the person to buy. He certainly lied to me and my friends when we purchased private placement shares.
IMO, Baltia has done so many things wrong, this is just one they got caught on right now. Igor may have been implicated prior to his death as well. If Igor did commit suicide, which I think is what happened My opinion to which I have not been convinced otherwise), it could have been from this or knowing the FAA was going to deny their appeal.
The SEC's use of "allegedly" in referring to Baltia's business, leads me to believe they have doubts about the true intentions.
Now they are looking to lease a plane. How many times did we bring this up over the years only to have the idea dismissed?
My thoughts exactly
"other options and opportunities"? What about test #8, no mention of that. Are we not allowed to have another test? It certainly appears that way from the way it was written and the fact that we had never scheduled one this whole time pending the appeal. Does anyone have any insight?
I suspect that there is something going on that Baltia is not telling us. I have said all along that there was no way the FAA would pass Baltia have failed 6 times previously. That being said, Baltia wasted so much time appealing test #7, when they should have gone on to test #8. Here is where I have the issue, why not do test #8 while the appeal is pending/ Why not schedule test #8, now? I think there is something preventing Baltia (FAA or other) or not allowing them an 8th chance. Anyone have any thoughts or insights?
My though, and no disrespect either, was that he committed suicide because of the way the announcement was written. I have read enough obituaries to know that usually when they are completely void of details it usually is suicide. I could be wrong, just my opinion.
IMO, having been a shareholder for 8 plus years, and have heard everything from Baltia management (both directly and indirectly). I would think that Baltia only read what they wanted us to hear from the letter and left out everything they did not want us to hear/know.
I have done my own research and I encourage everyone else to do the same with regard to the slide problem. I believe this was manufactured by Baltia and others as the only slide problems/issues I could find were slides that went off prematurely. I could not find a slide issue for not opening.
How could the FAA pass Baltia when they have failed 6 times already. Would you want to fly on an airline who passed on a technicality? I cannot see how the FAA will pass them. I wish they did pass.
As mentioned, I have been a shareholder for a long time and have unfortunately, come to believe that I cannot believe a word Baltia says. I have a feeling that the situation and company status is much worse than we think.
What we need is real proof one way or the other.
That simple email is is more information than I have received in the last 7 years being invested (and of course it did not come from Baltia_.
IMO, Management has wasted so much time and money due to their unpreparedness and inexperience. Their complete lack of transparency and complete lack of communication (lying by omission) is truly reprehensible. They have yet to publicly acknowledge they have failed any of the tests, because they simply do not respond.
And unfortunately, the price usually drops to pre-reverse split prices in a very short time frame. so you end up with less stock at a very low price. Not good in penny land
Unfortunately, like most posters who promise an FAA pass, you do not have any evidence whatsoever to verify your statement. Come November 1st when nothing happens in October, you will not mention this, but will mention another date coming soon.
We need to stick to actual facts.
The sad fact is that we have not passed yet and may have failed, but we have no idea because Baltia never made indications that they failed the previous 6 times.
How about this is either a scam or the management of the company is so inept and over their heads that they cannot get the job done, IMO. Beyond ridiculous, IMO, was 4-5 years ago and 6.3 Billion Shares less.
He is probably getting something on the back end (low priced warrants or some other guarantee). Just my opinion. The other is the higher price he pays, the better for Baltia and Vick has a lot of money invested, so part of putting in this money is to protect his investment, IMO
Thank you for the follow up. I would love it if they passed, but if they fail due to another un-deployed slide, then what should we think? they have said they have the problem worked out, this should have been worked out a long long time ago. If they do not pass, are we done with the excuses is my question?
In all of your conversations, did anyone mention the new "mini mini" where the FAA is only going to test the slide? It seems that in your conversation that was not said, which means whomever brought it up, may not have had the correct facts. We would appreciate any insight you have on this. Thank you
What was the initial time frame for Phase 3? I believe it was 3 weeks. We have been in Phase 3 since October 2014, almost 1 year.
Does anyone see a problem here? Forget about the age of the plane, Igor and management is the bigger issue in my opinion. After 25 plus years of preparing for this, we should have zipped through Phase 3. We haven't and that is a major management issue, IMO.
Unfortunately, that article is right on point, IMO.
I think that this was some of the big (not 5% big) investors cashing out because Barry needs them to buy through private placement again. Not a bad racket, IMO< buy at .001, hold for 6 months, sell at .004 and then rebuy at .001 again.
This unfortunately, IMO, is how Baltia has been funding their operations at the expense of dilution and its shareholders. Over the past 25 years, they have raised over $100 MILLION and still are not certified, that is beyond ridiculous and speaks volumes of the ineptitude of management. Think about it, they have had over $100 MILLION to get this done and have not succeeded yet.
To the best of my knowledge, and please correct me if I am wrong, Baltia has never acknowledged any of the previous 6 failures. That is the problem, they never come right out and own up to their mistakes/failures, IMO.
Logically thinking, IMO, I do not see how they could get a PASS from this last tests if one of the slides did not deploy. They have failed 6 times prior, so why should the FAA let them "slide" on this? The slide packaging is under the control of Baltia (which was news we only found out this time, as opposed to all the other times Baltia failed for the slides not deploying).
I personally do not think they passed, I have no actual proof, but only my intuition and experience with Baltia.
I welcome all comments
Firestream, I do hope you are correct and that your sources are reliable. I am a shareholder and it is in my best interest for this to succeed. That being said, at what point do you think enough is enough from an objective point of view and say "something is not right"? Will it be if they do not have the test in Mid September or September at all? Just curious because there should be a point in everyone's mind (IMO) that if certain information/actions do not come to fruition perhaps the sources were incorrect or not honest. Let us know if you do not mind sharing.
Funny, but I am not sure. I enjoy reading his posts, but other than him stating that he bought shares, nothing he has ever said has either come to fruition or been correct, IMO. I think he may be both - complicit in the sense that he posts at times to help drum up sales and talk it up, but then when what he says does not pan out, he goes in to radio silence.
Obviously he is putting money in, whether it is to flip at some point through some mechanism or method (because he is an insider) or he really really hopes that it will work and realizes if he does not pay in more money to keep them afloat, than his investment will be lost.
I believe (and I have no founded basis, just my gut feeling) that Baltia cannot get another scheduled test. I believe the FAA has said enough is enough. My reasoning is that if we did not have a determinative PASS, which I believe we can all agree on, then I would have scheduled another test date just in case. It would be the smart and prudent thing to do. As far as we know, that has not been done. I feel, and again I have no proof just my instincts having been a shareholder for 6 plus years) that Baltia failed the last test and they actually received word that they failed and have tried to keep that hidden.
The fact that they failed 6 times is unbelievable in itself considering all of their talk about how ready they are stage 3 will only take 3 weeks (or something along those lines).
Unfortunately, I think Igor and his crew are so over their heads and have no clue what they are doing except, how to work the system to raise money, which eventually gets to their pockets.
If you look at the history of my posts, you will see I was a staunch supporter or Baltia, but have become a nonbeliever mainly due to the management and the Next week, next time, we will fly in 3 months garb that has been restated so many times.
Sorry to go on, but I am just truly frustrated (my opinions and thoughts only) with the management's unpreparedness, lack of honesty, and statements of time lines that never come to fruition and are always someone else's fault.
Barry told me 6 months and that was 6 years ago. IMO, they (management) are either not trustworthy or completely clueless. Take your pick.
Wouldn't it have been easier and quicker if Baltia just retakes the test? If they have done so well, why not prove it again? It seemed like in the past after a failed attempt, they were able to reschedule another one in 2 weeks. Why not do that/request it and move on?
Please read Post 50607 from Just A Learner. If the phone number is legitimate, than, IMO, how can Tony be telling the truth?
Call again tomorrow, if he answers, not fake. If it is disconnected, then fake. IMO, I feel (and I do hope I am wrong) that no one would set up this elaborate scheme, it is Just Baltia's way of keeping the possibility of a PASS in the air while they try to sell more stock
I think everything you conveyed about your conversation makes sense and is what I thought all along. We did not hear anything positive from Baltia (which is always the case in a fail), they have failed 6 previous times, so why would they get the benefit of the doubt. If the slides were to be folded/readied by Baltia's contractor, than its Baltia's responsibility that they work (especially if they have someone supervise the operation). 7 fails is an absolute disgrace. Who would feel safe flying on airline that took 8-9 times to pass? I do not think I would.
this was supposed to be a 10 bagger at .04 It is very sad and troubling how things have changed.
If they are so close with the FAA, why not in July? Let me ask everyone - what happens when they fail again? IMO, failure is not an option and if they do, Igor should resign and everyone else fired. Tough yes, but too many failures is unacceptable.
How is this different? No response from Baltia after the other attempts in which they failed. Frankly, I have lost count as to how many times they have failed. All I think about is the definition of insanity, doing the same thing over and over and expecting different results.
If they failed this time, leaving that open for now, everyone should be fired. I would have had those slides tested and tested, at the slide company's cost as it is supposedly their fault, until we had 100% open 10 times in a row. That is what you do. BALTIA does not do that from what I understand. It amazes me, IMO, how under prepared they are for something they should have been so prepared for.
Have they tested, retested and then tested it again (which they should have done every time before)? Hate to state the obvious, but there should be no question that they work and will work when needed.
I am sure no one can accept another failure due to the slides.
With all the amount of time they have had, there should never have been a first failure let alone 3 to 4. Brainstorming, what could they possibly be brainstorming that they should not have been prepared for the past years? How about pass the test - no excuses.
This is a repeat of the manuals from years ago. They never could pass them either.
If there intent is too exceed and as the years pass, I doubt it more and more, they need new management. Replacing Igor is a must.
LT I appreciate your posts, but most of the time they are very vaugue and do not answer any questions but merely provide excuses for Baltia. In August, you said they would be flying in November, That has long gone and past. At what point does it become unacceptable to you? For me, it is the second failure because that is all I would get as an employee and what I would be willing to give as an employer.
Thank you.
Can anyone please tell me why the last mini failed? Was it that they did not get all the slides out in 15 seconds are defective slides (again and again) or something else.
Thank you
I apologize as I must be out of the loop, but what does Baltia need to seek a waiver for? Did we ever get a reason for the latest failed mini?
From the bunch of posts I read, it seems like it may be a little while before we get another attempt at a mini.
Anything you or anyone could clear up would be greatly appreciated.
Are they trying to pass? Fail once bad, but livable. Fail twice, real bad and complete fault of Baltia. Fail 3 times, horrific and shows just how bad management is, IMO. This is unfortunately a repeated pattern in the Baltia life (remember the manuals (submitted -failed, submitted -failed etc..) - I am not sure if the manuals ever really got passed/approved yet as no real affirmative press release)
Who would want to fly on Baltia if and whenever they do pass? Would you want a doctor who passed their boards on their first try or the doctor who took 20 times to pass???
Years ago, I was very pro-Baltia, but in the past years (as my holding were completely watered down by a multiple of 8), I have come to believe that the Management of Baltia (Igor, Barry, etc..) are awful. and do not have what it takes to make this work.
IMO, They pump it up when they need to sell shares and make money, I mean come on, some of the lame press realizes "uniforms" and then complete radio silence for months. They are so bad, IMO, that I have seriously doubted whether they intend to ever rally start this business and it was not a complete scam.
I still hold a good amount of Baltia stock because I lost so much, there is no benefit to sell. I hope I am proven wrong and this is successful, but I do not believe that Management is competent to do it. How many times do we let them fail and come up with an excuse. Anyone in business or even working, knows that this would never be acceptable time and time again in your own livelihood.
I would agree with that logic.
I think to really understand the float and the projected float, you need to take the total shares issued, less the insider shares and perhaps less LT's shares, if he des not own as one unit, and that should give you the float. The private placements are only restricted for 6 months, so I think they should be considered as part of the float when thinking ahead. JMO.
Payment for debt? I did not think we had any debt. Isn't that the point everyone keeps bringing up?
If it was payment for interest and/or a debt, those shares are tradable now, no 6 month waiting period, IMO. The good news I guess, is that he is an "insider" and needs to disclose when he buys and sells.
Adding shares is a problem as it dilutes ownership. Some of the "bigs" may have recently purchased shares for close to market value, but history and the last filings show that BLTA sells these shares at an extreme discount. I believe, based on their most recent quarterly filing that the average private placement share was ,004. So this means a lot of shares were purchased below market price.
The other unfortunate thing is that normally when a reverse split happens, the stock is valued at the equivalent price (8:1) would mean it would trade at 8 times the current price. IMO, Baltia will not be able to sustain that price and it will quickly fall back to a penny. IMO, Baltia may then increase the outstanding shares and repeat the whole process. I unfortunately have little to no faith in the current management. They have never ever, IMO, kept to a deadline and have serious trouble managing and spending money.
This is an absolute joke and shows that management cannot control their spending or have any idea in what their doing, IMO. This stock will not go above .05, IMO as it would put the company's worth at over $240,000,000, which is another joke (one plane, no income and management that does not know how to budget).
IMO, I hope Igor does not get paid millions this year (regardless if its in stock), for his very subpar performance.