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I have read the PR's!! It's all great news for the shareholders! This 8K is actually excellent News! I stated from the beginning that September 15th was only a target date and it was obvious in the previous PR wording "we are working to"!! A slight 1 month delay in that target date and it's the end of the world?? Lol right.... the work that Tony and the management team did and are currently doing to make this deal happen paid off!!! Plain and simple! We now know that N417XA was taken off the market and off AerSale's inventory website for this deal! I know some investors took the September 15th date to heart (even though it was obvious that it was a Target date by the wording) and will still not be happy, but I am ecstatic that the deal is progressing and we have the closing date schedule and a lease of the existing Songbird plane in place too! Also sounds like the current Songbird employees will be taken care of also with a job! No need to hire new, when they are already in place and ready to fly! Good times!!
The Acquisition is scheduled to close on October 15, 2017 (the “Scheduled Closing Date”), but in no event later than October 31, 2017, and the Company is required to present proof of sufficiency of funds to AerLine fifteen days prior to such Scheduled Closing Date.
Nostradamus says it's staying in the 4's!! I guess we shall see if the psychic is for real!! Lol
Oh... was hoping that would be looked into also by inside connections? I get it though! Not good to check into things that don't matter. Not like that would confirm anything about what investors are looking for in the deal..... like what confirming "Xtra 737 flying into KGYR is there for something else" did!!
Thanks Robo, I found the same when I did my DD! Hopefully we can hear if friends can find out about N417XA being schedule for a C check soon! Let's wait and see what we hear!
Cert seemed to have a lot of connections to Xtra and KGYR.... was hoping to hear if a friend knew if the MRO facility right where N417XA is now, could get the C check done there? Or if they had heard if one is being schedule on the Songbird N417XA? Hopefully that would also be looked into! Imagine the person that knew about the other Xtra 737 would have that info too!
Are we think AerLine Holdings LLC... AKA AerSale... AKA Xtra Airways is in on this " cut and paste" scam contract?? Lol....Seems like they would be furious if our company made all this up!
Ok, just thought it was interesting that it was there where the Songbird aircraft is being stored, when all I ever see flying in and out on FlightAware is smaller planes. Can a C check be done on N417XA at this facility?
This wording is in every contract! Each party covers themselves in contract wording!
The link below is common contract wording. Start at #18. # 19 explains it the best for that statement posted! You will see a lot of similar statements that are recommended in any contract. Any Lawyer would recommend this wording to be included! Unless the Lawyer in not very smart in contract wording!
https://www.entrepreneur.com/amphtml/191778
Wow Dischino! Didn't hear that... I'll do some DD and get back to you "ALL" about what I found!
Still not thinking outside the box! Who says they have to give them a portion of the company?? PP Shares are not the only way to get funding! Maybe it's a loan, hell maybe they they will just give them the money because the shares they do have will fruit so much more! Or maybe it will be as preferred shares, kind of like a loan. There are a million ways to get the funding from the those investors. Probably ways no one hear has even though about! It's going to happen!
Really? This is great news for the shareholders! This 8K is actually excellent News! I stated from the beginning that September 15th was only a target date and it was obvious in the previous PR wording "we are working to"!! A slight 1 month delay in that target date and it's the end of the world?? Lol right.... the work that Tony and the management team did and are currently doing to make this deal happen paid off!!! Plain and simple! We now know that N417XA was taken off the market and off AerSale's inventory website for this deal! I know some investors took the September 15th date to heart (even though it was obvious that it was a Target date by the wording) and will still not be happy, but I am ecstatic that the deal is progressing and we have the closing date schedule and a lease of the existing Songbird plane in place too! Also sounds like the current Songbird employees will be taken care of also with a job! No need to hire new, when they are already in place and ready to fly! Good times!!
The Acquisition is scheduled to close on October 15, 2017 (the “Scheduled Closing Date”), but in no event later than October 31, 2017, and the Company is required to present proof of sufficiency of funds to AerLine fifteen days prior to such Scheduled Closing Date.
Agree! Seems like a lot of individuals think the only way for this company to get money is by walking into the corner Chase Bank and asking for a loan at the counter or selling PP shares, that they haven't sold in a year! Many forget how many individuals that are associated with the company in someway that spend that kind of money in a weekend retreat to the Caribbean islands on their private yachts! Lol. 5 million is chump change to these individuals! Spread out over a few of them will be easy to achieve! The money is there, no doubt in my mind!
Who knows... just found it interesting that Xtra flew into KGYR last night with a 737, when all I ever see going in or out on FlightAware daily is smaller prop planes there. We shall see if anything comes of it! Thanks for the thoughts though.
Does anyone know much about KGYR Airport? Is Goodyear just used primarily as a storage facility for large aircraft and for smaller aircraft to flight into or is it used frequently by charter airlines like Xtra? I see Xtra Airways (AKA AerSale) just landed one of their 737's a few hours ago there (flight CXP8212). Very possible they flew there to get N417XA out of storage, if the airport is not normally flown to by Xtra Airways!
If that's what it will take to get the remaining funds, I say do it!
Right! Once they actually have an agreement in writing they should disclose it within 4 days. But no rule states they need an 8K if a big investor tells Tony, not to worry about the money you'll get the 5 million whenever you are ready for it at close! Or if they haven't signed a loan agreement yet, no 8K needed. They wouldn't release $1 million to AerLine if they didn't have the funding lined up to execute the purchase.
The statement I made about chump change is in regards to current investors that are in big. 5 million is nothing to get from just a couple of those big investors. When the Songbird deal goes through, the PPS will easily get to .05 or more. Why won't one of the current big investors capitalize on that? 1 billion shares @ .05 with an average price bought at .005 is a pretty nice profit. Just saying... think about people! They could also get a loan for a portion of that amount! They will get the money!
And if they didn't sign an agreement but have a verbal commitment... what is needed? What if they are pre qualified for a loan but haven't executed the loan yet.... what is required?? The funds will be there! Believe me 5 million is chump change to the big investors that want what they have already invested in succeed! They will have it when they need it! This deal is a for sure instant certification! Once we get it we are back in the pennies!
I'm positive!!! I stated from the beginning that September 15th was only a target date and it was obvious in the previous PR wording "we are working to"!! A slight 1 or 2 month delay in that target date and it's the end of the world?? Lol right.... the work that Tony and the management team did and are currently doing to make this deal happen paid off!!! Plain and simple! We now know that N417XA was taken off the market and off AerSale's inventory website for this deal! I know some investors took the September 15th date to heart (even though it was obvious that it was a "TARGET DATE" by the wording) and will still not be happy, but I am ecstatic that the deal is progressing and we have the closing date schedule and a lease of the existing Songbird plane in place too! Also sounds like the current Songbird employees will be taken care of also with a job! No need to hire new, when they are already in place and ready to fly! Good times!!
Whole pennies coming shortly!
New 8K statement from the company:
Pursuant to the terms of the Agreement, prior to the date of the closing, the Company shall also enter into an aircraft lease agreement (the “Lease Agreement”) with AerSale 25417 LLC (“AerSale”) for the lease of one B737-400 aircraft. Prior to the closing of the Acquisition, the Company shall pay to AerSale the cost of the inspection of the aircraft.
The most sensible thing to do is lease a 767 that wouldn't be needed for a year, just to say they did it for a few investors? Lol... ok! We are buying a company with a certification for a 737-400 people, not a 767 cert.! We are now leasing a 737 so we can make revenue to expand to a 767 or 777. Tony made a very good decision to put a hold on that lease and concentrate funds to the songbird purchase and lease of the 737-400... N417XA.
The financials will be out soon. They are not required to disclose everything they do. Also I stated they have the funds in line for the deal. If they are required to Disclose something... it will happen when they actually accept the funds and transfer them to Songbird at closing. I understand why they are so tight lipped lately! If they disclosed everything it just gives fuel to the fire for some people that don't understand wording in company statements! Example is if they disclosed they have funding from a certain source on September 18th let's say, and the funding doesn't actually come until the 24th, due to some unforeseeable circumstance, some impatience investors might be furious over that 6 day delay!
September 15th was a "target date" and was never set in stone... I said this multiple times! Buying and airline takes time and lots of work with lawyers and FAA!
Well I'm buying low when it's obvious this deal is happening! Buy low sell high.... I think that's how it goes right??
Not sure, was it all from the offering? Don't think anyone knows that answer for sure... what we do know is they got the $1 million when some people said they didn't have it! Just like they have the money lined up for the remainder!
Many of the other investors here have a completely different opinion, and feel this is the great News that our company has released! They released to AerLine the $1 million, they have the closed date schedule for Oct 15th with a set in stone maximum date of October 31st! They have a lease lined up before the close and employees that know the Songbird procedures in place! ALL Great News!!!
"Like I stated" from the beginning that September 15th was only a target date and it was obvious in the previous PR wording "we are working to"!! A slight 1 month delay in that target date and it's the end of the world?? Lol right.... the work that Tony and the management team did and are currently doing to make this deal happen paid off!!! Plain and simple! We now know that N417XA was taken off the market and off AerSale's inventory website for this deal! I know some investors took the September 15th date to heart (even though it was obvious that it was a Target date by the wording) and will still not be happy, but I am ecstatic that the deal is progressing and we have the closing date schedule and a lease of the existing Songbird plane in place too! Also sounds like the current Songbird employees will be taken care of also with a job! No need to hire new, when they are already in place and ready to fly! Good times!! big smile
Whole pennies coming shortly!
Who says they only raised $722,000? Just because that amount was on a old 8K? No one knows how much they have raised to date! They gave AerLine $1 million already... not $722K! How is that if they don't have the money??
I stated from the beginning that September 15th was only a target date and it was obvious in the previous PR wording "we are working to"!! A slight 1 month delay in that target date and it's the end of the world?? Lol right.... the work that Tony and the management team did and are currently doing to make this deal happen paid off!!! Plain and simple! We now know that N417XA was taken off the market and off AerSale's inventory website for this deal! I know some investors took the September 15th date to heart (even though it was obvious that it was a Target date by the wording) and will still not be happy, but I am ecstatic that the deal is progressing and we have the closing date schedule and a lease of the existing Songbird plane in place too! Also sounds like the current Songbird employees will be taken care of also with a job! No need to hire new, when they are already in place and ready to fly! Good times!! big smile
Whole pennies coming shortly!
Thanks Robo! At least you have a intelligent head on your shoulders and know a good thing when you see it! The fact is this Airline is about to fly! Your patience will pay off here in the next few months! Get ready to make some money folks!
This is great news for the shareholders! This 8K is actually excellent News! I stated from the beginning that September 15th was only a target date and it was obvious in the previous PR wording "we are working to"!! A slight 1 month delay in that target date and it's the end of the world?? Lol right.... the work that Tony and the management team did and are currently doing to make this deal happen paid off!!! Plain and simple! We now know that N417XA was taken off the market and off AerSale's inventory website for this deal! I know some investors took the September 15th date to heart (even though it was obvious that it was a Target date by the wording) and will still not be happy, but I am ecstatic that the deal is progressing and we have the closing date schedule and a lease of the existing Songbird plane in place too! Also sounds like the current Songbird employees will be taken care of also with a job! No need to hire new, when they are already in place and ready to fly! Good times!!
Whole pennies coming shortly!
Exactly! At least there are a few individuals that think logically!!!
Give use all a break!! The proof of funding is with any purchase agreement! That is standard wording in any agreement! The N417XA was not pulled out of service because of any mechanical problem, look at the SDR's! The inspection will go find and it will be back in the air soon... keep an eye out on FlightAware everyone!!
SEC 8 K
On August 30, 2017, Baltia Air Lines, Inc. dba USGlobal Airways (the “Company”) entered into a stock purchase agreement (the “Agreement”) with AerLine Holdings Inc. (“AerLine”) for the purchase of all of the issued and outstanding shares of capital stock of Songbird Airways, Inc. (“Songbird”), a wholly owned subsidiary of AerLine, for an aggregate purchase price of $6,500,000 (the “Acquisition”) to be paid in cash, plus any amounts related to certain pre-paid assets of Songbird.The Acquisition is scheduled to close on October 15, 2017 (the “Scheduled Closing Date”), but in no event later than October 31, 2017, and the Company is required to present proof of sufficiency of funds to AerLine fifteen days prior to such Scheduled Closing Date. The Company previously made a good-faith deposit of $1,000,000 with a third party escrow agent, which funds were released to AerLine on September 1, 2017.
Pursuant to the terms of the Agreement, until the closing of the Acquisition or until the Agreement is terminated, AerLine covenants to (i) use its reasonable best efforts to preserve the assets of Songbird in all material respects and (ii) not cause Songbird to sell, lease, transfer or otherwise dispose of any assets or permit such assets to become subject to any lien, or make or rescind any material election relating to taxes or settle any material claim, action suit or proceeding with respect thereto, or enter into any material agreement without prior written consent of the Company.
Pursuant to the terms of the Agreement, prior to the date of the closing, the Company shall also enter into an aircraft lease agreement (the “Lease Agreement”) with AerSale 25417 LLC (“AerSale”) for the lease of one B737-400 aircraft. Prior to the closing of the Acquisition, the Company shall pay to AerSale the cost of the inspection of the aircraft.
Upon the closing of the Acquisition, the Company shall have the right, but not the obligation, to offer employment to any or all current or former employees of Songbird. In addition, the Company will thereafter be responsible for the continued regulatory approvals necessary to operate Songbird, including the air carrier certificate issued by the Federal Aviation Administration and the certificate of public convenience and necessity issued by the Department of Transportation to conduct interstate and foreign charter air transportation.
The Agreement may be terminated by each of the Company and AerSale at any time prior to the closing if any judgment, order, injunction writ, ruling, verdict, decree, stipulation or award of any governmental authority restrains, prohibits or enjoins either the Company or AerSale from consummation the transaction. In addition, after October 31, 2017, in the event that the closing has not yet occurred due to a material breach by either of AerLine or the Company of any of their representations, warranties, covenants, obligations or agreements made in the Agreement, and such breach is incapable of being cured or, if capable of being cured, shall not have been cured within 15 days after written notice thereof, then the other party may terminate the Agreement. In the event that the Company terminates the Agreement pursuant to such terms, AerSale shall return to the Company any and all amounts of the purchase price paid by the Company to AerSale, minus any fees due to the escrow agent.
Each of the parties will bear its own costs and expenses incurred or to be incurred in connection with the execution and consummation of the Acquisition documents.
There can be no assurances that the Company will consummate this purchase at all or on the terms discussed in the Agreement.
The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the Agreement, a copy of which is filed as Exhibit 10.1
Lol... not on this deal going through!!
Hope everyone was able to grab the cheapie's while they lasted today!
This 8K is excellent News! I stated from the beginning that September 15th was only a target date an it was obvious in the wording "we are working to" !! Though a slight 1 month delay in that target date, the work that Tony and the management team did to make this deal happen paid off!!! We now know that N417XA was taken off the market and off AerSale's inventory website for this deal! I know some investors took the September 15th date to heart ( Even though it was obvious that it was a Target date by the wording) and will still not be happy, but I am ecstatic that the deal is progressing and we have the closing date schedule and a lease of the existing Songbird plane in place too! Also sounds like the current Songbird employees will be takes care of also with a job! Good times!!
Lol... really? And where is this info coming from? Just a hunch or guess?
Exactly! See what happened today! The PPS came right back! Games are being played right before the big announcement! Feel sorry for those that sold out of fear of nothing! Looks like N417XA is off the market and probably will see test flights out of Goodyear soon in prep for operations once again!
Just heard this through the grapevine!
SN:25417, 737-484 no longer listed for sale on AerSale Website.
Perhaps a little patience is in order, let Tony close the deal.
Funds almost cleared.... now I'm excited for .002's if that's the intent! The price now has no bearing on where it's going to be shortly after the Songbird deal! Grab them while you can. Heading to the whole pennies soon!