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Tony knew the deal was dead on 9/13/17 when the DOT notified him that Baltia was found unfit.
I think the SEC needs to look into that obvious stock pump attempt, that was done through or by Mr ED.
It appears as though LT was spreading similar BS to the Baltia BFFs that MR Ed tried to do yesterday.
That reported timeline would also be similar to LT's timeline imo. Nice update.
"as a result of the Company’s failure"
Wow, this is the first time the company has ever taken ownership of a failure.
Lord knows Baltia has been a vacuum for over 28 years.
Do you still want to take MR Ed's word?
I bet Ed has more inside FAA and DOT info on what’s going on then even Tony! He works for the government and it directly relates to airport operations! I’ll take his word over anyone else that pretends to know what’s going on!
I don't know, they failed 7 consecutive mini-vacs on N706BL.
The FAA & DOT have had more than bellyful of Baltia. They should rent a couple of bus and start shuttling passengers for the real airlines at Stewart.
That looks like proof Mr ED's PR yesterday was purely a stock pump.
What explanations were given in the updates?
No telling what they've raised it to, TA gagged, no financials, no updates with the NY SOS, they still have Igor listed as CEO.
They're probably getting close to 20 billion by now.
I think the SEC needs to look into Mr EDs attempt to manipulate the stock price.
Why is Mr ED telling us "They expect to announce the closing over the next week or two"?
Was he given insider information?
Did Mr ED do this unofficial company update to manipulate the stock price?
Rehashing the last update. I doubt Tony told Ed about the letter from the DOT.
Why should anyone give these slackers anymore slack? They have been at this for more than 28 years. Two weeks ago Tony said the financials are done and they still won't file them with the SEC. What are they hiding?
The 10Ks & Qs aren't done? Did Tony lie to us in the latest update?
The link works ok on a PC. Here is Regulations.gov link to the letter
https://www.regulations.gov/document?D=DOT-OST-2007-0007-0067
I believe it is because of him, and:
"Problems in a public shell that can make it “dirty” include, among others, unruly members of management and/or the board of directors, accounting or legal irregularities, unsettled liabilities and other financial problems, lingering disputes with shareholders, poor books and records, and/or not being up to date in all filings required with the relevant supervisory authority (e.g., the SEC) and any securities exchange or stock quotation service on which the shares of the shell company are listed or quoted."
http://investment-and-finance.net/investment-banking/d/dirty-shell.html
Yep, no significance whatsoever pure coincidence.
"Certificates are not transferable without prior Department approval. Applications for transfer of certificate authority should be filed jointly by the transferor and the transferee with the Department’s Dockets Section at least three months in advance of the proposed effective date of the transfer."
https://www.transportation.gov/policy/aviation-policy/licensing/US-carriers
No significance whatsoever that 3 months after the 6/15/17 LOI announcement, the DOT, who is well aware of all the changes that Baltia Airlines d.b.a. USGlobal Airways has gone through, finds them unfit on 9/13/17.
http://airlineinfo.com/ostpdf100/556.pdf
No significance whatsoever that it was posted the day after the in all events no later than closing date.
No significance whatsoever that N417XA was put back on the market as being available for sale or lease.
The only chance of that happening would be if he sells the shell. As dirty as it is, nobody is going to touch it.
Yep, Insider Financial is extremely reliable, keep spinning their babbling as a newsworthy article.
They tell us:
"On August 4, 2017, it was released that Daniel J. Buckley would be the new CFO. We believe that the news is quite good, as he is an experienced executive."
Baltia's 8k states:
"Effective as of August 4, 2017, Daniel J. Buckley resigned from his position as Chief Financial Officer of Baltia Air Lines, Inc."
Insider Financial tells us
"On August 30, 2017, AerLine Holdings LLC signed a stock purchase agreement with AerLine Holdings Inc." regarding the acquisition of Songbird Airways, Inc.
Baltia's 8k states:
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.
At least they were right about the market not reading the contract as they did. I wonder if they even read the BS they print?
Since the first offering only brought in $720K, I wonder if the $1,000,000.00 purchased deposit they lost, came from St George LLC exercising their Warrant to purchase $1,259,615.38 worth of shares?
The agreement offered ST George the option to buy shares @ .01. Tony and boys wanted some skin in the game, and issued 1 billion shares to themselves @ .0001, enabling ST George to exercise their warrant at the same PPS; nearly 12.6 billion shares. Is the TA still gagged?
"The Warrant provides the Lender anti-dilution ratchet provisions, including that if Company issues any security with a price less than the exercise price of the Warrant, then the exercise price of the Warrant shall be reduced to such price and the number of shares issuable upon exercise of the Warrant shall be increased to an amount equal to the number of shares which Lender could purchase at the aggregate exercise price payable immediately prior to such reduction."
Woo Hoo another Red Friday for Baltia.
Nice to see we finally broke the .003 resistance.
A summons was issued on 11/8/2017, Baltia has 21 days after being served to respond. The document does not indicate if, or when Baltia was served. Don't expect much to happen with this case for a few months.
Like a default on the loan from St. George Investments? The one that prohibits a reorganization?
"The Company agreed that if it issues convertible securities with a conversion or exercise price which varies with the market price of the common stock of the Company, the Lender shall have the right to convert the Note at the conversion price provided in such security. The Company also agreed with the Lender not to effectuate a change of control, which includes a sale of all or substantially all of its assets of the Company, a merger, consolidation or significant equity financing or other capital reorganization of the Company."
How do they know what is going on behind the scenes?
Kind of like Tony reaching out to travel agencies, public relations, and marketing firms to create a powerful and compelling branding campaign for a make believe airline.
Thanks, seems odd the link says july 24, no matter it'll be good for a dead cat bounce.
Where on USGlobals website is this letter from Tony at?
It must be all lies. The utmost reliarable source has spoken to management about it, according to Papa: All lies there is no letter , I ask mgmt and they just laugh and said just sick people that have no lives post the lies all day.
I never knew the BWC could forge DOT documents and hack Regulations.gov
Since they moved to Stewart, probably got evicted for non payment.
That 15 days only applies if there was a material breach of the contract. Since N417XA was put back on the market yesterday, well before the 15 days had passed, there was no breach. Also kiss the $1,000,000.00 goodbye.
They have to remain quiet during a self imposed blackout of a non-existent deadline?
I think Kalitta was tired of Baltia being his favorite charity, that was why he required payment in full for the lease.
Actually Kalitta is having passenger airplanes converted to cargo. The idea was to use the passenger plane until there was an opening at an MRO to have it converted.
SHHHH, that's the next surprise. In the meantime everyone should fill out an SEC enforcement complaint form.
Contrary to the belief of some, the lease was not cancelled due to issues with the plane, found during the inspection. No inspection, other than the post flight checkoff, has been done on this bird since it was parked back in February 2017. The last reported SDR for N417XA was filed 5/2/16.