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With nearly 29 years as a start-up under their belt, Baltia doesn't know the meaning of a finishing line.
He lost the DOT economic authority. He lost the $1,000,000.00 purchase deposit. He withdrew the application from the FAA. What more do you want him to do?
Frank got a big laugh hearing about Baltia's BFFs dreaming about buying Xtra.
I hope the SEC halts the trading of Baltia's stock.
Has Tony put out a PR discrediting Lampl's interview?
Has a retraction been released?
Has Lampl been fired for lying?
Are you suggesting Baltia is paying people to intentionally put out false information about Baltia?
Why would you or anyone believe Lampl about company money? He's an employee.
One is too many for Baltia. Xtra's cert allows up to 7.
Purely a guess, but I suspect keeping 1 plane on the books has something to do with the certificate, Songbird did the same thing.
It appears Songbird is no longer an option for anybody.
http://av-info.faa.gov/OpCert.asp
Let me ask you to put yourself in a financier shoes and Songbird was at your desk and Xtra was at your desk, what would you do?
That timeframe elimates Baltia chances.
Sounds like another victim of the ol hook line and sinker.
N417XA is no longer available.
https://www.aersale.com/productsandservices/aircraftsalesandleasing/availableaircraft
If the material agreement they entered into on Sept 1 was changed, they are required to file an 8k stating the changes.
If the deposit was returned to the escrow agent it would have been stated in the 8k when they announce the termination.
They are not working on any other deals with Aerline.
The company did inform the shareholders from the outset about the deposit.
From the LOI filed in June 2017: As of June 23, 2017, the Company has made a good-faith deposit of $1,000,000 with a third party escrow agent, which funds shall be fully refundable to the Company in the event that the Company and Songbird do not enter into a formal, definitive purchase agreement.
https://www.sec.gov/Archives/edgar/data/869187/000161577417003380/s106693_8k.htm
Again when they entered into the material agreement: 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.
https://www.sec.gov/Archives/edgar/data/869187/000161577417004908/s107400_8k.htm
And when they announced the termination: In connection with the Agreement, the Company 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.
https://www.sec.gov/Archives/edgar/data/869187/000161577417007036/s108303_8k.htm
1) There are no filings stating the $1 million deposit was refunded. There are no filings stating the original plan was revised. Here is the filing that updated the original plan:
Item 1.02 Termination of a Material Definitive Agreement
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 was scheduled to close no later than October 31, 2017. In connection with the Agreement, the Company 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.
The Company received a letter, dated November 22, 2017, from AerLine terminating the Agreement as a result of the Company’s failure to proceed with the closing as scheduled.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Baltia Air Lines, Inc.
Date: November 29, 2017 By: /s/ Anthony D. Koulouris
Anthony D. Koulouris
The horse's mouth
2) None that involves Baltia operating an Airline.
3) Nothing and not likely.
4) Short term gain to PPS and definately a bust.
If companies do not have to get certified, then any Tom, Dick, or Baltia could operate an Airline.
Baltia tried to get their Air carrier certification using a 39 year old 747 and failed miserably.
Then they tried to buy SongBird Airways certificate and failed because they could not get the money to close the deal.
During Baltia's failed attempt to acquire SongBird, the DOT issued the following:
We revoke the certificate of public convenience and necessity issued to Baltia Air Lines, Inc., by Order 2009-3-7 authorizing it to engage in scheduled foreign air transportation of persons, property, and mail.
The DOT also ratted Baltia out: "In addition, the Federal Aviation Administration informed us that Baltia withdrew its application for air carrier certification."
Do keep in mind USGLOBAL is a separate entity with no outstanding shares. Should someone invest in it then Baltia shareholders will be up the creek without a paddle.
One possibility is someone is cleaning the trash out of their account.
The following information is from TD Ameritrade's ask Ted: If you ask us remove a security, we will enter an order to sell it if a market can be found (in this case, commissions may apply). If a market is not available, we may be able to remove it for you; not all securities are eligible to be removed. This request is an irreversible trade and will generate a trade confirmation. We will buy your security for $1.00 for the entire trade, and charge you 99 cents plus 1 cent (SEC Fee) for the entire trade, so you effectively pay nothing for the transaction. We make no representation as to the value of the security.
Not sure where Daisy ran off to after the Koma flop. She didn't get involved with Brian & Ken's illegal gaming machines.
The court date has been rescheduled once again to 5/7/2018
I was beginning to think Baltia had been halted again. http://otce.finra.org/TradeHaltsHistorical
Nope, it was due Dec 2017, Baltia is deliquent as usual.
Nah, they want Baltia on the grey markets.
Oh my, someone is mighty hiny hurt over the truth, again.
The SEC’s Enforcement Division alleges that Clare willfully violated Section 15(a) of the Securities Exchange Act of 1934. The matter will be scheduled for a public hearing before an administrative law judge, who will prepare an initial decision stating what, if any, remedial actions are appropriate.
https://www.sec.gov/litigation/admin/2016/34-77373-s.pdf
Baltia's game ended when the SEC unplugged their illegal PP share selling scheme.
Dang who knew?
Monday, 11/13/17 08:31:20 AM
Re: Firestream post# 93071 0
Post #
93072
of 98006
Yes sirree, so many bird droppings, uh good things going on for Baltia/USGLOBAL.
The Logistic Air lawsuit.
DOT declaring Baltia unfit.
Director of operations lawsuit.
N417XA is back on the market for leasing.
Failure to close the Songbird deal.
They already created a new public company and any business plan, other than selling stock, is way too complex for Baltia's elite team.
I bet they really hated it when someone announced on 11/13/17 that the Songbird deal was terminated. Then Tony lied to the shareholders the next day claiming all was well and the deal was still on.
Yessiree Baltia's BFFs Collusion aided Baltia's great Russian delusion.
Starring Tony and the Grifters.
Mythical $125 million dollars gone? Did Baltia cook all of the 10ks they filed?
What other mythical facts have been spread regarding Baltia
Are those blasted Travel Tariffs driving the PPS down?
A lot like Baltia's 28 & 1/2 years.
All of the preferred C shares are convertible into common shares; pretty scary number when you do the math as outlined in the agreement.
"The Series C Preferred Stock is subject to optional conversion on or after the first anniversary of the date of first issuance, into shares of Common Stock at a conversion price equal to 50% of the average closing bid price of the Company’s Common Stock from February 14, 2018 to February 28, 2018, divided by the Stated Value plus accrued but unpaid dividends."
Baltia is already delinquent for the dividend payment that was due 12/31/2017.
The Corporation shall pay to the Holders dividends from assets of the Corporation legally available for the payment of such dividends, which shall begin to accrue on the date of issuance of the Series C Preferred Stock (whether or not such dividends have been declared) in an annual amount equal to twelve percent (12%) of the Stated Value per annum (the “Dividend Amount”). The Dividend Amount shall be payable annually on December 31 of each year, commencing on December 31, 2017, in cash or in Common Stock.
Where will Tony get the $950,000.00?
The Series C Preferred Stock is subject to forced redemption by the Company upon the first anniversary of the date(3/9/2017) of the initial issuance at a price of 120% of the Stated Value of the Series C Preferred Stock redeemed, plus accrued but unpaid dividends.
Or will he encourage the Preferred C holders to do a conversion as per:
The Series C Preferred Stock is subject to optional conversion on or after the first anniversary of the date of first issuance, into shares of Common Stock at a conversion price equal to 50% of the average closing bid price of the Company’s Common Stock from February 14, 2018 to February 28, 2018, divided by the Stated Value plus accrued but unpaid dividends.
Tony is a super sharp dude. Just how easy do you think it is to be found unfit by the DOT and lose a million dollars?
They are required to do so if they want to keep the illusion active. Hopefully someone will buy a share tomorrow.
Really, then where did the 225,810 shares that were bought come from, if not one share was sold today?
You're right 225,810 shares were sold today.
If they really had funds when the material agreement was filed, why not close the deal then? The due diligence was already done. The really sharp dude Tony was eager to close the deal.