Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Because it's the necessary first step in such a legal process. The next step is to go after the BOD by piercing the corporate veil and going after personal assets. You'll see them all show up to court then.
Luna Tic Monday, 08/27/18 01:51:09 PM
Re: LongTimeObserver post# 102452 0
Post # of 102454
Then why go through the trouble and expense of filing a claim and costs of service of process, for a claim that will never be responded to, or collected? Not the smartest move.
Monroe - they will get revoked. You don't need a crystal ball because it's a done deal. That decision has been made. As you've been reminded here numerous times, the delay of the final revocation order has nothing to do with BLTA.
I am curious why you think it's "most likely" they will reform? What do you base that optimism on? Has there been some company published information we missed? Did John Lampl revert his LinkedIn to reflect his tenure at BLTA/USGL? If not, then who's even their communications director??
Nobody invested in this company to sell chicken nuggets or be cleaning service. And Logistics certainly doesn't want any part of this mess. They want their money and they know there is absolutely nothing this company in its present state can offer in exchange. They also know they probably won't get it unless they pierce the corporate veil and go after the personal assets of everyone at the top of this pyramid scheme.
The PPS won't climb. Certainly not like the cheerleaders touted ".02 by the SHM and .05 after".
Monroe1 Member Level Thursday, 08/23/18 08:29:51 AM
Re: Pennywize post# 102388 0
Post # of 102392
May not get the execution of revocation. The SEC won't comment definitively until the ALJ rules final. There is a very slim chance Baltia comes out intact... bueno, scathed and plucked but still squawking. Wish I had a crystal ball to say for sure.
Most likely they will reform somehow, maybe they sell chicken nuggets and popcorn shrimp who knows, but also possible the 22 $million judgement winners decide to join hands cause a bird in the hand is worth twenty two in the bush... so to speak.
Wouldn't it be great if they survived to sell, well, anything?
A cleaning service contract at Stewart would do. Wonder how high
the PPS could climb if they somehow survive all this?
It reads like a movie script.
https://www.justice.gov/usao-edny/press-release/file/1084461/download
Will any of these "customers" identified in the indictment have direct ties to BLTA senior management? Hmmmmmm.
You're right LT - don't believe everything you read. Just like all your ego inflating posts over the years on these boards. I'll be front row at your trial. Bet on it.
This guy is out for blood. Enjoy the show folks!
https://www.justice.gov/usao-edny/pr/attorney-general-jeff-sessions-appoints-richard-p-donoghue-interim-united-states
Rab,
How do you know they are up to something positive? Did we miss a shareholder letter, press release or 8K in the past 9 months that would give any indication of this?
No, instead we have seen a poorly written paragraph on the web site and a few quotes from Lampl, who on LinkedIn has disassociated himself from Baltia in any possible form.
This isn't penny land anymore. This is the penny graveyard. Have you ever witnessed a 10,000% rise on the grey market? Doubt it.
They revocation will happen once the SEC resolves their ALJ issue, having nothing to do with BLTA or any other stock on the revocation list.
At that point, you have a shell of a company. No assets, no staff. But where is all the money? We may never know since they can't even file financials, despite saying they were complete in November 2017.
rab74 Monday, 08/20/18 06:56:26 AM
Re: Pennywize post# 102341 0
Post # of 102346
Toast? I doubt it, they are up to something positive. Time will tell.
rab74 Monday, 08/20/18 08:15:11 AM
Re: AKthisistheone post# 102344 0
Post # of 102346
Penny land is full of surprises.. have you ever witnessed runs of 10,000% in on day. I have.. so who knows what this one will bring.
We have no way of knowing if each purchase has been one or multiple people. There’s nothing interesting about it. Some people may just be trying to get cash out and take the loss before this stock goes dead.
More BS from the LT. Lots of rambling in that post. The only salient thing to take out of it was:
The staff at HQ is still putting in 110% to make all of our dreams a reality.
LT - I know you're reading this stuff. You can't help it because you're reputation and huge Long Island ego has been sullied.
So since you say HQ is putting in 110%, why has Tony not made ONE public comment since December 29, 2017. The company has been totally silent except for a few lame quotes in the local newspaper by Lampl, some of them from his vacation in Peru. Glad to see he's putting in his 110% by phoning it in.
Not a single 8K, not a press release, not a shareholder letter. NOTHING.
That's not the transparency he promised.
Enjoy your new 25 square foot living quarters.
The Lieutenant Wednesday, 08/08/18 10:30:55 AM
Re: None 0
Post # of 102129
A very wise man once said, "Believe only half of what you read and none of what you hear."
I will add to that, in this day of sensationalism, what you read is flavored to sell newspapers and is unfortunately more than 50% unreliable.
I believe our POTUS has coined the term "Fake News."
Draining the Swamp must occur at more than just the upper levels of our government, and we all have a moral and ethical obligation to do our part....no matter how painful that may be at times....to make this country and this world a better place.
The staff at HQ is still putting in 110% to make all of our dreams a reality.
Doesn't look fictitious. And I don't know what criteria gofundme uses to vet people asking for money. I'm guessing not a lot.
But someone made a post recently that is ripping him a new one. I need to buy a new supply of popcorn. And Vodka to wash it down. This is getting good.
https://www.gofundme.com/nqu4ad-drain-the-swamp
"4th amendment. HA! You're a real piece of work, John. What happened to all the money you repeatedly claimed to have made on that penny stock airline, Baltia (BLTA)? What happened to all those puffed up comments you made all last year telling everyone to buy "now" and "slap the ask" because there was "no better time", while you and that crack management team knew it was sinking? What happened to your billion shares (literally a BILLION people! You are one of the biggest shareholders on record)? What happened to your wife's $60K profit you bragged about on public message forums? People - don't give this guy a penny. He reaped what he sowed. The NY US Attorney is going to take Mr. Drago and his co-conspirators down. There are many who look forward to a front row seat at his trial."
Tony's LinkedIn self promoting piece of puffery. Oh, where to begin! Global Vision? Strict code of fiscal discipline?? "INVESTED" significantly in technology? What would that be? A $10/month godaddy web hosting account? Strong business development arm? You mean the one that failed on the Kalita "letter of intent" deal and the subsequent Songbird deal to grab a 25 year old 737 airframe? Just let me know when I get buy a ticket to Barcelone
Experience
USGlobal Airways
Chairman, President & CEO
Company Name USGlobal Airways
Dates Employed May 2017 – Present Employment Duration 1 yr 4 mos
Location Greater New York City Area
Conceptualized in late 2016, USGlobal Airways is the product of the successful takeover of a previous company attempting to acquire air carrier certification. Led by Anthony D. Koulouris, CEO & President, the new company underwent vigorous and comprehensive restructuring and rebranding processes as it transitioned into what is now a global vision to connect the U.S. with international markets that are currently unserved, under-served, or poorly served.
Immediately upon the change in management, a strict code of fiscal discipline was implemented across the organization, including the re-negotiation of existing contracts with all vendors and business partners as well as the elimination of unnecessary and/or redundant services. The company streamlined its operations and invested significantly in technology, enabling the opportunity to save costs and scale in proportion of the company’s desired growth rate moving forward.
A strong business development arm was established within the company, placing an emphasis on the formation of strategic alliances with business partners, political dignitaries, and influential organizations both domestically and internationally. Several examples of this include USGlobal’s close working-relationships with: The Port Authority of NY & NJ, the Orange County Partnership, several Chambers of Commerce in highly-targeted catchment areas, as well as the airline’s backing of local and state politicians.
As the restructuring and rebranding phases near completion, USGlobal Airways has its sights set on vigorously growing operations and establishing its presence internationally. With a proposed initial target route network of Barcelone, London, Paris, Nice, Naples, Tel Aviv, Athens, Warsaw, Prague, Budapest and St. Petersburg, the company anticipates leveraging technology, as well as its streamlined capabilities, in order to operate efficiently and thus, revitalize a passenger experience that has long been forgotten in the United States
Delta -
Thank you for your feedback.
The signs have been ominous for some time now. It's even more obvious when posts on the message boards with valid questions about the state of affairs at BLTA get deleted and dismissed as a bash against BLTA.
Unfortunately, the remaining shareholders are screwed. Nobody should listen to any amount of cheerleader style pumping of any stock. The publicly available information is what should really count. Not some big shareholder's opinions and pontifications. Caveat Emptor to all.
Ironically, I'll be flying to St Petersburg from JFK next week. No, it's not nonstop and it's not on Baltia. But it will get me there on a solvent, reputable airline.
Deltasaint Thursday, 08/02/18 11:11:24 AM
Re: None 0
Post # of 102019
I have held off responding for quite sometime.... I am one who has been left behind. I consider myself fair in the face of both positive and negative bashing back and forth.... I ignore most posts because the repeating of the same drivel by the same people is well, a waste of time.... I for one actually made money on this company even though I own shares now.
I am extremely disappointed but not really shocked by the recent turn of events. I thought the idea was a great idea and it still is. The execution was so poor. I think that any business can succeed if run well. This was not run well.
Was this all a Russian laundering scheme to begin with? Did it start that way then Igor thought he could pull it off? Is this why even selecting the lapel pin was painful months? Was the FAA jerk from the original JFK submission on the take? Maybe a rival faction organization?
So now I am left with this- SEC - please - for the innocent, allow Baltia to stay solvent. Let us elect a new board. Let us retire Igor’s Johns, russel’s and Barry’s shares. That should be enough for us to have the capital to get the financials done
As much as you all want to gloat or bash about what has happened, there are many more that have lost a lot here.... who speaks for them??
I guess LT won't be checking in on this site to "make sure he can still post"....
So Long, Drago.
Yes, and then the plaintiffs have a good case to pierce the corporate veil and go after the con artists who have been operating the company without adhering to the most basic steps of remaining in compliance with corporate bylaws and SEC requirements.
That's when Tony, et. al. will be called in personally or - if not - have their own personal default judgement entered against them.
AKthisistheone Tuesday, 07/31/18 06:22:55 PM
Re: Monroe1 post# 101942 0
Post # of 101943
The other thing is baltia has no money so i dont think logistic will even get a penny.
Tonys closes door and 22 million default goes bye bye.
Maybe...just maybe.
Is there a public statement of some kind that has Tony's name on it since the December 29, 2017 shareholder letter?
The Lampl newspaper interviews and the web site blurb don't really count.
AKthisistheone Monday, 07/30/18 08:00:08 AM
Re: None 0
Post # of 101926
No update from Tony in over 40 days. Wow
1M shares @ $100. Yes, that's a lot of volume. Surely something big must be in the works!
rab74 Thursday, 07/26/18 11:16:18 AM
Re: None 0
Post # of 101896
Volume is starting to pick up again..., hmmm. Who knows what?
There are several nonstop routes from the USA to Russia. Tony has effectively "left the building". Last one out turn off the lights.
Monroe1 Member Level Thursday, 07/26/18 04:35:58 PM
Re: USGlobal4Life post# 101893 0
Post # of 101894
Suckerberg just had a reality check today. Down 19 Billion! Biggest one day fall in history. Tony, hurry down to his office and give it your best Baltia shot. The world needs a direct route to Russia. Fill the market void!
Challenge and critique the ideas, not the person. Personal attacks will be deleted quickly and swiftly. Emotions are high with a lot of people over this particular stock, and rightly so. Let's keep a level headed discourse going. Thanks!
A bit? ok, maybe 0.01%.
Contrary to your prior comments, Tony absolutely did not do more than others before him. What did he do besides put out some crafty worded letters and press releases and host a media day at Stewart?
A CEO is judged by their achievements, not their promises. He does not have a single, measurable achievement as CEO of BLTA. If he does, please correct me with quantifiable, verifiable proof.
He never physically acquired a single aircraft or went through the beginning stages of certifying an airline. He didn't obtain any kind of new route approval. He didn't challenge the DOT revocation. He didn't even register the USGlobal Airways name with the secretary of state. He used the cheapest possible web hosting company (GoDaddy) just to put up a page of hopes and dreams. He ignored the SEC suspension notice going back to March and kept shareholders in the dark. He still has not made a single public comment since his December 29, 2017 Happy Holidays shareholder letter message.
I could go on, but you get the idea.
Monroe1 Member Level Wednesday, 07/25/18 01:22:06 PM
Re: AKthisistheone post# 101857 0
Post # of 101859
Well without hope it is over anyway. That is the energy spark that keeps us trying.
Monroe, the company has not filed any motion to correct a manifest error or petition for review. In fact, their web site clearly states that they are not going to "defend a defenseless proceeding".
https://www.sec.gov/alj/aljdec/2018/id1254cff.pdf
This Initial Decision shall become effective in accordance with and subject to the provisions of Rule 360 of the Commission’s Rules of Practice, 17 C.F.R. § 201.360. Pursuant to that Rule, a party may file a petition for review of this Initial Decision within twenty-one days after service of the Initial Decision. A party may also file a motion to correct a manifest error of fact within ten days of the Initial Decision, pursuant to Rule 111 of the Commission’s Rules of Practice, 17 C.F.R. § 201.111. If a motion to correct a manifest error of
fact is filed by a party, then a party shall have twenty-one days to file a petition for review from the date of the undersigned’s order resolving such motion to correct a manifest error of fact. The Initial Decision will not become final until the Commission enters an order of finality. The Commission will enter an order of finality unless a party files a petition for review or a motion to correct a manifest error of fact or the Commission determines on its own initiative to review the Initial Decision as to a party.
Given that the company has stated, via their web site front page, that they are not going to defend this action and the SEC said this order will become final unless there is a motion or petition filed by the company, the revocation is effectively final..
Monroe1 Member Level Wednesday, 07/25/18 12:11:42 PM
Re: phl08 post# 101851 0
Post # of 101853
You are 100% wrong. The process is not wrong either. Otherwise there would be no need for any company to appeal or to file back financials. You are hopeful it is 100%. Initial means initial so until you read Final Order is is not over. Capiche or no?
You are 100% wrong on this. The company missed every deadline it was given starting with the 60 day notice of suspension given in March. The revocation order was given and the delayed finality of it is a formality.
It's over, Johnny. OVER!
Monroe1
No, that was the Initial Order. There is a process by which a company can return to good faith standing. Fulfilling those requirements is supposedly what they are doing. We will see. It is not over until the SEC says it is over. The court delay is working in favor of Baltia.
Monroe - revocation is happening. The order has been given. Tony could file the most pristine, perfect financials and it won't change. He missed the boat after countless notices and opportunities. He also lied to everyone in the November 14, 2017 letter that said audits were complete. So, there is really zero hope. Nobody will make a killing.
Monroe1 Member Level Wednesday, 07/25/18 10:42:38 AM
good question so is it hope or knowing something???? hummm, someone could make a killing. Remember,
"While the deregistration in not enviable, once the Company is able to complete its financial statements, the Company believes it will be able to have caught up in its filings even quicker than before the deregistration." Tony
Yes, the collective wisdom says sell, but we cannot say we were not alerted when and if it comes about.
There are some who would rather hold onto their position, regardless whether there is actually a buyer out there, and hope that something miraculous happens than sell at a huge loss. But the revocation order is already there. It hasn't happened because of internal SEC administrative issues.
AKthisistheone Wednesday, 07/25/18 08:01:41 AM
The real question is why buy at all knowing revocation is 100% likely.
Its like throwing money into a fire!
Would you mind posting a link to the update Tony supposedly gave a month ago? There is nothing out there with his name signed to the end of it that directly addresses shareholders.
The 6/19/18 one paragraph web site blurb is not necessarily directly from Tony, nor does it have his name signed to it in any form. And, it doesn't really address the bigger picture and his continued failure to follow through with what he previously promised, starting with transparency.
AKthisistheone Wednesday, 07/18/18 08:05:55 AM
Re: None 0
Post # of 101743
1 month tony...1 month you havent updated us. How long does it take to update the financials?
What a joke.
The last update with Tony's name signed to it was December 29, 2017 and it was nothing but fluff. The 6th grade grammar laden blurb on the website updated 6/19/18 could have been anybody.
He went from doing official press releases to shareholder letters and then..... <poof>. Nothing.
AKthisistheone Monday, 07/16/18 05:23:03 PM
Re: None 0
Post # of 101716
Tony aka the choke artist hasnt updated us in a month
This coming Friday 7/20 10am EDT is a telephone pre-hearing conference with the SEC. I don't expect we see any action from SEC until at least next Monday. Not sure what the pre-hearing telephone conference entails, though I'm fairly certain that BLTA is supposed to be represented somehow.
As of May 24, the SEC states:
"Accordingly, Baltia Air Lines, Inc., Graphite Corp., and 24Holdings, Inc., are each ORDERED TO SHOW CAUSE, by June 15, 2018, why it should not be deemed to be in default and the registration of its securities revoked. See OIP at 3; 17 C.F.R. §§ 201.155(a), .220(f).
IT IS FURTHER ORDERED that the hearing is POSTPONED sine die, and a prehearing conference shall be held by telephone on July 20, 2018, at 10:00 a.m. EDT, if the proceeding has not been resolved by then."
June 15 came and went without a peep. I suspect July 20 will be the same and the SEC can formally nail the coffin shut. RIP BLTA.
AKthisistheone Monday, 07/16/18 08:19:23 AM
Re: LongTimeObserver post# 101700 0
Post # of 101708
I am looking forward to attending any trials. I want to find out what really is in the financials that Tony is hiding so badly.
July 20 telephone pre-hearing call.
https://www.sec.gov/alj/aljorders/2018/ap-5752.pdf
a prehearing conference shall be held by telephone on July 20, 2018, at 10:00a.m. EDT, if the proceeding has
not been resolved by then.
AKthisistheone Friday, 07/13/18 08:01:45 AM
Re: None 0
Post # of 101679
Wasnt there some call in July that was scheduled between blta and sec?
Tony stated the financial statements couldn't be relied on July 24, 2017, claiming it was due - in part - to an engine lease agreement they somehow missed from "the old Baltia".
"In June[2017], our board concluded that the audited financial statements for the fiscal year ended December 31, 2015 should no longer be relied upon. "
Then on November 14, 2017 he said the audits were complete for 2015, 2016 and 3 quarters of 2017:
"we have completed the audit for fiscal years 2015, 2016, and the first three quarters of 2017 and are preparing the final drafts for legal review and release."
On November 30, 2017 he reiterated this:
"we have aggressively tackled several issues that the company inherited from the previous management teams, including but not limited to, the unexpected liabilities that we have previously reported. Keeping this in mind, the company has nonetheless been able to complete the 2015 and 2016 audits which we are striving to release soon."
And then on June 19, 2018 the web site has an update (we don't know who wrote it) that says they are unable to complete the audits.
"Over the past many months, the Company has been unable to complete its audited financial statements and therefore file its periodic reports with the SEC."
So, it's not only the financial audits that can't be relied on, or completed, but it's also the CEO who cannot be relied upon either.
Monroe1 Member Level Friday, 07/13/18 11:08:45 AM
Re: flaflyersfan post# 101674 0
Post # of 101678
We shall see. So you had two CPA doing unethical work. Tony has already stated they cannot be relied upon,
The last words that have Tony's name signed to them were the December 29, 2017 end of year rah-rah-rah shareholder letter. Can anyone provide a link to anything more recent that he's publicly said with his name attributed to it?
*******************************
December 29, 2017
To Our Valued Shareholders:
As we approach the end of 2017, I want to thank all of you for your loyalty, support, and commitment to our shared vision. Without you, this company and our effort to launch an operationally successful airline would not exist.
The past twelve months marked a significant change in the company's direction, management, and approach to obtaining air carrier certification. Despite the many obstacles we have overcome, we continue to evolve as a company that holds its
shareholders' best interests at heart. Our team will continue to pursue a path that we firmly believe will yield a thriving business.
On behalf of the company, I wish you all a prosperous and healthy 2018.
Yours sincerely,
Anthony D. Koulouris
Monroe -
If a heavyweight wanted to do something "about it", why didn't they help the company come up with $20K to pay the auditors back in November when Tony promised everyone in the shareholder letter that the financial audits were complete. The link is provided above on this boards main info-box in case you missed it.
But no, the heavyweights all got out. Whatever they may have left they don't care about any more. The company has been completely silent, which is the opposite of Tony's promise of transparency, which is also something you can review in the links in the info-box. July 24, 2017 - the last company official press release...."In keeping with my commitment to provide you with quarterly updates on our progress". That was the last quarterly update. That was the last official company press release. That was the last effort at "transparency" from Tony.
Any other BOD would have canned a CEO by now for his clear ineptitude.
Monroe1 Member Level Thursday, 07/12/18 11:44:34 AM
Re: AKthisistheone post# 101642 0
Post # of 101645
That is probably right. I wonder if some shareholder decided to pay for the CPA? That would make sense for any heavy weight to do that. You know he and others would like to save their investment and especially when they have the dough to do something about it.
We're off to a good start with a PPS drop to .0001. Quads are coming, my friends.
AKthisistheone Thursday, 07/12/18 08:08:43 AM
Re: None 0
Post # of 101639
Think volume will be over 12 million today just a gut feeling!
News Article: US Global still hopeful; another board member quits
http://www.midhudsonnews.com/News/2018/July/11/USGlobal-11Jul18.html
Monroe - you are merely ASSUMING longs are holding by choice. You don't know if they've been trying to unload since the suspension was lifted and can't find a buyer for their large lots. Some of them have probably gotten some unloaded in small chunks during the past month. The rest are likely so far underwater on their purchase that they're holding out for the .001% chance that this company pulls some kind of miracle.
Please find me a broker who can find buyers for a lot of 10-20M shares, or more.
Monroe1 Member Level Wednesday, 07/11/18 10:27:25 AM
Re: LongTimeObserver post# 101583 0
Post # of 101611
No buyers, no sellers when they had the chance it did not come, the large really large majority are holding.
You have a much better chance at a 500% return on a penny stock of a company actually generating revenue, which is to say both are slim chances but one is much more slim than the other. Good luck.
“but if you can turn 4k into 25k. why not try again?”
Wait...is there a comment from Tony himself somewhere that I missed 2 weeks ago?? The last public statement I thought from Tony was his end of 2017 fluff message. And 1 month before that his promise that the financial audits were COMPLETE...until the company web site blurb said they are not complete a few weeks ago.
Monroe - why do you think the longs are holding? Is it maybe because nobody is buying what they are trying to sell? Go ahead and try to buy 2M shares at .002. You'll have plenty of people line up to sell to you. But then go ahead and try to sell 2M shares and you'll likely get crickets. This is why the longs, as you call them, are holding. They have no choice.
And to your point about Tony inheriting a mess - lest we forget he was CFO and it was his corporate duty to be on top of every facet of the financials. He failed at that primary task as CFO, and even moreso as CEO, not to mention lying in a shareholder letter that they were complete when they, apparently, were not.
AKthisistheone Tuesday, 07/03/18 12:16:28 PM
Re: Monroe1 post# 101436 0
Post # of 101438
We havent heard an update from Tony in two weeks.
Why you do presume someone doesn't know "how it works"?? I've sent emails through the web site over the past month or so. None have gotten answered, and I still am able to access the web site.
I doubt it's the IP that got blocked. Does it work from your mobile phone if it's on the same WIFI network as your laptop?
Robodog Tuesday, 06/26/18 08:33:58 PM
Re: kayakzz post# 101320 0
Post # of 101334
You just don't know how it works....Go ahead...send them an e-mail through the USGlobal.com site...that way your IP address can be recorded and they will use it to block you.
Yes, maybe indeed. I guess you're the one out there with a buy order for 20M shares?
Monroe1 Member Level Wednesday, 06/20/18 01:52:02 PM
Re: FlyBaltia747 post# 101147 0
Post # of 101149
maybe back up instead? Looking at .0006 by Friday?
Tony said the financials were complete back on November 30, 2017. Then yesterday's web site blurb (not a PR, not an 8K, not official by any means) said that they are not complete. So which is it??
How can you believe anything the company tells you at this point?
How do you feel about the company saying (on their web site front page) that they were cooperating with the SEC, yet the SEC said they received no response from BLTA. Don't you feel a little bit duped? Lied to? Strung along?
-No company response to the SEC in the 60 day notice period leading up to May 7
-No company response to the SEC in the 2 weeks that followed suspension leading up to May 24 when the SEC reaffirmed that the company did not respond.
-No company response to the SEC in the next 3 weeks when they were given time to "show cause" by June 15 when - according to the SEC, the company still did not respond.
Monroe1 Member Level Wednesday, 06/20/18 12:19:54 AM
Re: rab74 post# 101098 0
Post # of 101137
"once the Company is able to complete its financial statements, the Company believes it will be able to have caught up in its filings even quicker than before the deregistration."
Lovin it!!! Sorry for those who may have sold.
Another lie.
From the recent web site update:
Over the past many months, the Company has been unable to complete its audited financial statements and therefore file its periodic reports with the SEC. The SEC’s filing requirement is very strict and matter of fact. The Company decided that the better course, rather than trying to defend a defenseless proceeding with the SEC, would be to use those funds to concentrate on the Company’s filings. While the deregistration in not enviable, once the Company is able to complete its financial statements, the Company believes it will be able to have caught up in its filings even quicker than before the deregistration.
What a terribly written statement full of runon sentences. I had to read it 3 times to basically get the main point:
1.) Tony lied on November 30, 2017 when he stated in the shareholder letter that the audits were complete
2.) They are cowards and don't want to face the SEC because they know how many buried skeletons are going to come falling out of the closet
3.) They are going to let it go into revocation, somehow thinking they will be able to file everything and go back to business as usual.
As has been mentioned here countless times - you cannot dump shares onto the grey market. You need to find someone who wants to buy what you're selling. If sellers all decided to try to unload hundreds of millions of shares, they'd be sitting on them for a long time - possibly forever.
Monroe1 Member Level Tuesday, 06/19/18 01:38:32 PM
Re: AKthisistheone post# 101073 0
Post # of 101077
The long shot will pay bigly should it come in. Notice the big dump has not happened, not yet, maybe never, maybe soon. All maybe.
Agreed that he should be making it clear that it's fiction. He's been called out already for posting the same thing recently.
Pennywize Member Level Friday, 06/15/18 11:35:49 AM
Re: phl08 post# 100971 0
Post # of 100973
So it's a "Parody"? Is it noted as a "Parody"? Imo, it's a fraudulent post if not true.
Asterixus is posting a parody SEC document. No action has been taken yet. Today is the stated deadline for Baltia to show cause as to why it has been delinquent.
We all(well, most of us) don't believe Baltia will come through at the 11th hour with some magic bullet that will make everything right, so it's just a matter of weeks or less that the SEC will strike the gavel and put this company out to pasture.
Pennywize Member Level Friday, 06/15/18 10:33:13 AM
Re: Asterixus post# 100965 0
Post # of 100970
Why is there no "ADMINISTRATIVE PROCEEDING File No."?
Just wondering.
That's a pretty cool read of the early plans and the arrangements they had in place. I believe they did really want to get into the airline business. But that was over 20 years ago. Things certainly have changed.
mysterymeat Thursday, 06/14/18 03:53:06 PM
Re: phl08 post# 100946 0
Post # of 100952
Here are links to early list from 1995 & 1997.