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Some investors (probably investors that bought PP shares from Barry) will get some money refunded to them pursuant to 15 U.S.C. §7246, Section 308(a) of the Sarbanes-Oxley Act of 2002, as mended, https://www.law.cornell.edu/uscode/text/15/7246
See paragraph C of the "Violations" section of the order, https://www.sec.gov/litigation/admin/2016/34-78574.pdf
There are other lawsuits pending. As for Barry, he is barred from claiming that he should not pay a judgement because he has already paid the present million dollars.
Regardless of whether the Commission in its discretion orders the creation of a Fair Fund for the penalties ordered in this proceeding, amounts ordered to be paid as civil money penalties pursuant to this Order shall be treated as penalties paid to the government for
all purposes, including all tax purposes. To preserve the deterrent effect of the civil penalty, Respondent agrees that in any Related Investor Action, he shall not argue that he is entitled to,
nor shall he benefit by, offset or reduction of any award of compensatory damages by the amount of any part of Respondent’s payment of a civil penalty in this action (“Penalty Offset”). If the court in any Related Investor Action grants such a Penalty Offset, Respondent agrees that he shall, within 30 days after entry of a final order granting the Penalty Offset, notify the Commission’s counsel in this action and pay the amount of the Penalty Offset to the Securities
and Exchange Commission. Such a payment shall not be deemed an additional civil penalty and shall not be deemed to change the amount of the civil penalty imposed in this proceeding. For purposes of this paragraph, a “Related Investor Action” means a private damages action
brought against Respondent by or on behalf of one or more investors based on substantially the same facts as alleged in the Order instituted by the Commission in this proceeding.
ORDER MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS AND A CEASE-AND-DESIST ORDER PURSUANT TO SECTIONS 15(b) AND 21C OF THE SECURITIES EXCHANGE ACT OF 1934, AND SECTION 9(b) OF THE INVESTMENT COMPANY ACT OF 1940
https://www.sec.gov/litigation/admin/2016/34-78574.pdf
Amazing! Baltia is late filing their 10Q with the SEC in that they filed NOTHING and the PPS and volume go up.
LTO:
SOON, Baltia will file their 10Q which is due today. However, lots of companies file late so its nothing to worry about.
LTO:
Things are a little slow this weekend because the DOJ and SEC almost never issue a weekend PR. However. lets hope we get one next week. On a positive note, I had a great day today.
It is good to remember that there are plenty of shares out there if you want some!!!
Darthpilot:
That is just more proof of the competence of baltia management. If they close all their offices and shut down all their other services, they can still do business on a cell phone. That means their total expenses are their salaries + $100 a month for the phone. With that as a business model, they should be able to stay in business forever.
It is just genius!!!
DarthPilot:
I hope they saved some money to pay the BK lawyer, they obviously only work for cash on the barrel head. You can run down to your local BK lawyer and get a personal BK done done for a few hundred bucks, but a corporate BK on a publicly traded company is a whole different animal. Maybe the 13D filer will write a check for the BK lawyer? hahahaha
It is too bad that the bar doesn't have a "rewards points" system. With all the money Russ, Barry and Tony have been spending on legal fees, they could probably pay for the whole BK with points. hahahaha
Troyal:
Yea, it is great we can openly discuss and speculate about Baltia on this message board.
Poutanatony:
I applaud you for doing the right thing. I will be in Manhattan the first few days of September. If you would like, I will take you out to eat crabs. You probably paid for a lot of them that the Baltia execs ate. If someone knows the restaurant that the Baltia execs used to eat crab at, we could meet there. It is safe to say they won't be there because they no longer can afford it.
I am just waiting for the feds to announce they have secured indictments for the major players in this scam.
Poutanatony:
You need to tell your story to the SEC if you have not already done so. MIT is right, time to take action and report it.
Speckulator:
Did CP Capital fire Baltia?
My guess is the 13D filer made a fortune on Baltia, I am just not convinced that money was used to obtain the majority of his shares.
That may have been a slight exaggeration.
Good plan Rocco5
They first have to pay off a $655K debt, get an aircraft and resolve an SEC situation so I don't see them flying anytime SOON.
Rjlcustoms:
We are chatting and speculating about Baltia based on facts we learned from sources other than Russ, Barry, Tony or the 13D filer.
They should do their civic duty and reach out to the SEC attorney below. Let's all help Barry, Russ and Tony get their day in court.
CHoover, we are glad to hear your ideas and views about Baltia.
N706BL was a fantastic prop, it earned Igor at least 50 mill.
When CVP sends its bill collectors by to see Russ, Barry and Tony, will they use nunchucks, brass knuckles and hand guns?
Lots of things are due to happen SOON:
10Q is due SOON
CVP 655K payment is due SOON
Notification from the SEC in regard to Barry's case is due SOON
Honesty to current investors is due NEVER
Next Crackin' Crab lunch is due SOON
I don't think CVP will use the legal system to collect....I will bet the use their own boyz.
LTO:
Well, at least you and I were able to ring the bell pretty hard on Baltia. I mean not enough for a high end Italian sports car but certainly for many other good choices.
You gotta luv the internet!!!
LTO:
A 1000 to 1 RS might get the job done if it were coupled with a really clever PR campaign. The company may be able to raise 20-30 million before the maxed out all 10 billion shares again. MMMM, that would be a lot of crabs and brews...mmmm.
Universal4Stocks:
I hope the SEC digs far enough to find and bag the people that were pumping the company in exchange for free shares. I have no direct proof that happened but that allegation has surfaced a few times recently and fits with some events. So, I suspect it is true.
Let's get some terminology straight:
Wet lease: Barry is willing to pass the fifth around while he drives the rental car.
Dry lease: Barry, Tony and Russ are too broke to buy a bottle for the rental car trip.
Damp lease: Those were in the high flying days at the strip club with the Baltia credit card.
Does our 13D filer have anything to say?
There is truly great news on the horizon. Baltia has another 10Q due soon.
Monroe1:
I did some actual DD, beyond reading nonsense on message boards. The ALJ that is hearing Barry's case was adamant on the scheduling call that the case get tried and he issue a final order in 300 days as required by law. He wanted to try the case at the beginning of August but the parties talked him into September. Now, that trial date is toast. I know it is toast having contacted the SEC.
Use a little logic....
Only a problem if they get caught....Igor took all the docs home and died....
The BFFs definitely need to do some shredding....big brother is coming.
As soon as Brad Ware publishes the results of his investigation, everything will be as good as new with Baltia.
Time to set up a Barry Claire legal defense fund on one of the online platforms. Who will do it?
emit:
I am sure BC will be happy to know that you will pay part of his fine.
Monroe....Barry is singing to the feds now....that is a FACT
https://www.sec.gov/litigation/apdocuments/ap-3-17172.xml