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Songbird is owned by AerLine Holdings LLC which is affiliated with AerSale. AerSale Is a leasing company that has multiple 737-400's. We could lease up to 10 737-400's with the certification. I could see more planes being added to make US Global profitable.
http://registry.faa.gov/aircraftinquiry/Name_Results.aspx?Nametxt=AERSALE&sort_option=1&PageNo=1
The 737 is now the new direction with the Songbird Acquisition! The lease of the 767 is only on hold until 2018 due to lease of a 737 now! Just a different direction to get off the ground sooner and start to make some revenue! I like this faster approach now to make revenue! I love the news of things progressing!
We recently signed and submitted a formal, definitive purchase agreement to complete the acquisition. Songbird currently has FAA certification, and in addition, a lease agreement for the existing Boeing 737-400 aircraft previously operated by Songbird is currently being negotiated.
This acquisition would be important because it would allow our company to initiate revenue operations immediately by utilizing the same aircraft and air carrier certificate previously operated by Songbird. It also adjusts our business plan to have an initial focus on the Caribbean Islands as well as various domestic and international charter opportunities.
It's obvious it's not good for some agendas! USGLOBAL could have bought Delta and some would be claiming that it's so terrible! Good thing the wise don't listen to the trash being spewed!
Never know.... maybe N764CK will be leased once they finish the Songbird acquisition. It's only a guess either way!
The 737 is the new direction! The lease of the 767 is only on hold until 2018 due to lease of a 737 now! Just a different direction to get off the ground sooner and start to make revenue! I like this faster approach now to make revenue!
We recently signed and submitted a formal, definitive purchase agreement to complete the acquisition. Songbird currently has FAA certification, and in addition, a lease agreement for the existing Boeing 737-400 aircraft previously operated by Songbird is currently being negotiated.
This acquisition would be important because it would allow our company to initiate revenue operations immediately by utilizing the same aircraft and air carrier certificate previously operated by Songbird. It also adjusts our business plan to have an initial focus on the Caribbean Islands as well as various domestic and international charter opportunities.
Believe me... no matter how transparent they are, nothing will be good enough for some! I see the PR as being great news of forward movement in the right direction!
With the new direction of leasing a 737 first, it makes more sense that N762CK is being converted to a cargo configuration in Mexico
The lease of the 767 is only on hold due to lease of a 737 now! Just a different direction to get off the ground sooner and start to make revenue!
We recently signed and submitted a formal, definitive purchase agreement to complete the acquisition. Songbird currently has FAA certification, and in addition, a lease agreement for the existing Boeing 737-400 aircraft previously operated by Songbird is currently being negotiated.
This acquisition would be important because it would allow our company to initiate revenue operations immediately by utilizing the same aircraft and air carrier certificate previously operated by Songbird. It also adjusts our business plan to have an initial focus on the Caribbean Islands as well as various domestic and international charter opportunities.
FOR IMMEDIATE RELEASE
USGlobal Airways Provides Second Quarter 2017 Update in a Letter from its Chairman & President
NEW YORK, NY – July 24, 2017 – Baltia Air Lines, Inc., doing business as USGlobal Airways, today announced that Anthony D. Koulouris, Chairman of the Board and President, issued a letter to company shareholders providing an update on recent corporate developments. The full text of the shareholder letter is provided below.
Dear Fellow Shareholder:
In keeping with my commitment to provide you with quarterly updates on our progress, I am happy to report several accomplishments we have made since last quarter, continuing USGlobal’s transformation and our work to fulfill our goal of being fully operational by the end of 2017. Under our current management team, our priority will be that all material information, good, bad or indifferent, will be disclosed in a timely and legally compliant manner. Towards that end, I hope you find this update informative and helpful.
On May 11, 2017, our board and executive management team members had the privilege of meeting many of you at our special meeting of stockholders and press conference at our new home at Stewart International Airport in Orange County, NY. Many of you voted in person to amend our certificate of incorporation to change our corporate name to “USGlobal Airways, Inc.” and also to effect a reverse stock split of our company’s capital stock. At this time, I am happy to announce that both resolutions were passed with your support. Thank you! We hope to formally change our corporate name and implement the reverse stock split when we obtain regulatory approval to list our common stock on the OTCQB Market, which we hope will occur during the current fiscal quarter.
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.
In June, our board concluded that the audited financial statements for the fiscal year ended December 31, 2015 should no longer be relied upon. This was following an extensive review by our new management team and its advisors of the company’s corporate and financial reporting processes. Through this process, we became aware of numerous discrepancies, including, for example, an aircraft engine lease agreement the old Baltia had entered into with Logistic Air, Inc. in 2010. We also determined that the company’s previous independent auditors failed to properly account for the payments purportedly due to Logistic Air. As such, and as part of our overall turnaround, we have concluded to restate our financial statements for 2015 and 2016 to correct all accounting and disclosure errors and along with our advisors and new auditors are working as expeditiously as we can to complete this review. Taking the time to do this properly has caused unfortunate and frustrating delays, for many of you and for us, but we want you to know that we are committed to getting this right, putting the past behind us, and moving forward with correct historical financial statements as well as improved accounting and financial systems and controls which will be the bedrock of our operations.
As we have worked to fix the challenges of the past, we have also worked to move towards the future with our business plan of becoming an international passenger airline with cargo, mail and charter capabilities. Obtaining FAA carrier certification is the key to our plans, and on June 15, 2017, we entered into a non-binding letter of intent with AerLine Holdings, LLC for the exclusive right to acquire Songbird Airways, Inc. for an aggregate purchase price of $6,200,000. We made a good-faith deposit of $1,000,000 and we recently signed and submitted a formal, definitive purchase agreement to complete the acquisition. Songbird currently has FAA certification, and in addition, a lease agreement for the existing Boeing 737-400 aircraft previously operated by Songbird is currently being negotiated. We have concluded our due diligence review of Songbird and have already confirmed the current status of Songbird’s FAA and DOT certificates. Members of our executive management have had several meetings as well as continued communications with representatives from Songbird and the FAA. We are working to close this acquisition on or before September 15, 2017. This acquisition would be important because it would allow our company to initiate revenue operations immediately by utilizing the same aircraft and air carrier certificate previously operated by Songbird. It also adjusts our business plan to have an initial focus on the Caribbean Islands as well as various domestic and international charter opportunities. Our longer term goal remains a vision to serve unserved and underserved markets between the United States and prospective destinations in the EU and the Middle East, and we plan on phasing in the Boeing 767-300ER aircraft to accommodate this strategy.
In an effort to expand our fleet, in May, we entered into an Aircraft Lease Agreement with Kalitta Air, LLC. to lease a Boeing 767-300ER aircraft which will be equipped for worldwide geographical operations. Although the original plan was to take delivery of the aircraft no later than July 30, 2017, we have made a business decision to delay delivery of this aircraft due to the Songbird acquisition. It is our intent to bring the 767 online sometime in 2018 and commence service to Europe and the Middle-East.
Also in June, we appointed Ambassador Ned L. Siegel as a Director of our company. Ambassador Siegel, has had a long and distinguished career as a senior U.S. government official and over 30 years of business experience. He was appointed by then President George W. Bush as the U.S. Ambassador to the Commonwealth of the Bahamas from October 2007 to January 2009. Ambassador Siegel’s vast experience and his unique set of skills set him apart as a trusted and respected advisor and we are honored to have him on our team.
As you can see, our team has been busy executing on our plan to deliver value to our shareholders. I am excited about USGlobal’s bright future! We look forward to providing you with further updates as our progress continues.
As always, thank you for your continued support.
Respectfully,
?
Anthony D. Koulouris
Chairman of the Board, President & CEO
Baltia Air Lines, Inc. d/b/a USGlobal Airways
https://www.usglobal.com/press-release
Fake can be good though! Who doesn't like looking at a couple fake ones! I saw a few with fake DD engines at the fake shareholders meeting! 2-DD's will be out soon... all eyes will be on that!! Lol
The problem is the statement "I have read posts"! When will people learn posts are not facts! Just like it's not true that they will be selling Unicycles in Central Park!!
Plus every investor with avatar gets a free bumper sticker, coffee mug and Tee shirt! How does Avatar pay for all those 119 managers??
Sad when you're wrong about the PPS dropping too!
Oh no not another $200 dollar day low!!! Lol 45,000 volume at .0044!!
Thanks for the info
What's the story here with Saleen? Is the company going bankrupt or something?
What happen to .002 last month? Shorts would love to see that! Maybe Julys data on short sales will be through the roof!!
https://www.otcmarkets.com/stock/BLTA/short-sales
I imagine the short sellers will like to buy back these cheapie's to cover! The link below shows that shorts sales are happening each month! Just awful if manipulation is bring this stock PPS down!
Here's the short sales data! 1 day to cover it looks like!
https://www.otcmarkets.com/stock/BLTA/short-sales
Not assuming anything! It was stated in the 8K that $1 million was "deposited" in a third party Escrow! That is fact, not a guess!
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12145666
Can anyone tell me what Short Sales mean? Is that the same as shorting a stock? Many people have said that it's not possible to short this stock and brokers will not let you short BLTA?? The link below is what I'm talking about..... what is this data referring to:
https://www.otcmarkets.com/stock/BLTA/short-sales
Is this data of people short selling this stock or is it something else? Would be just awful if we find out this stock has been being manipulated by short sales!
Then where did the $1 million come from for the Songbird escrow?
Can anyone tell me what Short Sales mean? Is that the same as shorting a stock? The link below is what I'm talking about:
https://www.otcmarkets.com/stock/BLTA/short-sales
Is this data of people short selling this stock or is it something else?
Loan would be for the Songbird deal I would imagine if they went that route. Once an income starts with the Songbird 737 certification, the Logistics Air debt could be paid. Just guessing like everyone else though!!
I did say have a loan in place, but meant the approval of a loan. That is my fault on a poor choice of wording from what I meant! Point is we don't know and anything stated is just guessing!
I agree!
They have to make it public that an investor speaking with Tony and states I'll invest millions if you get the Songbird deal done? Or a leader pre approving a loan with the understanding of an acquisition in the process of an existing airline? This also is required to be stated to the shareholders?? I know the part about how much do they currently have needs to be reported, but that is also in the works... once auditor is done they will file that!
Would it also be factual that this is a negotiable claim from Logistics Air and possible that a deal could be made that could release liability from Baltia to pay the $8 million or even a 1/4 of that?
Now that is unrealistic, good thing Tony's ideas are realistic and pretty smart IMO!
I don't get why some are so closed minded! Just because the weatherman says it's going to be a sunny day, doesn't mean you will not see a cloud here or there throughout the day! The majority of the routes will be more then likely routes that are not serviced or not serviced well from the US. That doesn't mean though that they won't also fly to locations that are! As an example currently most airlines that fly to Russia, fly to Moscow as a popular Russian destination. Then people taking a connector to St. Pete if that was their intended destination. I could see US Global thinking outside the box and flying to St. Pete first and also flying the connector flight to Moscow. The example is just my opinion, but with talking to Tony he stated multiple times that he plans on not doing things how every other airline does. He is thinking outside the norm and will adapt to the current needs that are out there!
What is the scam? They are not selling PP shares right? And $1 million has gone in escrow for the purchase of Songbird. More then the $720k raised from the preferred Shares offering right? So where is the scam and why would the PPS matter if their intention is not to succeed?
They are still occupying space at Willow Run. When you drive by tomorrow you will see the Baltia van in the front parking lot and Baltia's name on the sign out front.
As far as the Transareo planes, they are not at Kalitta's Willow Run Facility. One is in Mexico City being worked on and the other two are at Kalitta's other facility in Oscoda Michigan.
We should freak out that the price is at .0047 from .005? When In just a few weeks we are supposed to be accepting delivery of a 767 that we are leasing? And in a few months the Songbird Airways acquisition deal will be finalized? Lol... ok!!
I don't seen why the PPS would have any reason to lower or much more volume based lowering for that matter!
Doubt that... just like I doubted the "Huge Dump" to the .002 predictions that never even got close! And what about if they do get a plane by the end of the month, haven't heard that prediction yet? Oh and what is the prediction out there when the Songbird deal is final and we have a certification in our hand to fly??? I love how those are left out of the possibilities! Lol
Why? Not saying they won't follow through with the date... but why must it be exactly cut and dry always?? What if it's August before the plane arrives for some unforeseen reason? Is that really a horrible thing if it's a few weeks behind? I know some will definitely try to make it a horrible thing for sure, if that happens!
Ever have a court date that got rescheduled because an attorney wasn't exactly ready to litigate when expected... I sure have seen it before! Or a mechanic working on your car and finds out that his time estimate was slightly off on getting the parts and repairing it? I have and I didn't claim the garage was going out of business when they did!! Chill out on the dates people! It's going to happen weather some like it or not!
What does this mean?? Are you saying I said those things??
The joke is that some think investors are stupid and will fall for the oblivious games!
Right! It's the intention to drop the price just before good news! Price is already recovering, no one is falling for it! It was a failure IMO! But hey I'll take it!! Lol
Manipulation to its fullest! But I don't mind the deals!! Already recovering! I got an almost 50% gain today already . Thanks day traders!
Lol.... that's right! Believe it or not we are loading up on these dips! I will just keep adding to my position in silence thank you! . I'm excited now that I picked up more bargains over the last couple days and hope for more over the next couple weeks from the weak! Lol
Low volume and always recovers near the 5's. It's obvious people are in a hold! The wise are in a hold and grabbing the cheapie's when the dips hit!
Sure! Let's hear it! And please include all!!