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We make the presumption that Baltia raised(more likely conned), $120 million from PP share sales, and shares issued for services rendered. Because that is what they've claimed to have spent on paper.
We may also presume that a major portion of that money came from Baltia's 13 d filer John Drago. Have any of his purchases been reported, as stated by one of Baltia's true believers?
"As the major shareholder, per filings required by the SEC, all sales or buys for that matter, MUST be reported, thus made public. That is the freaking law!"
Capiche?
It was a joint effort. LT essentially did the lying for Baltia.
I wonder if ConocoPhillips also named CP Capital Securities in their lawsuit with PDVSA?
Baltia's success or failure is in the eye of the beholder.
The past 27 years Baltia did fail at becoming an Airline.
On paper, Baltia successfully ran a scam for 26 years fleecing $120,000,000.00 from shareholders. Then the SEC busted their illegal stock sales.
Hopefully Baltia's bogus expenditures will be revealed in the near future.
There will not be anymore shareholder meetings hosted by Baltia.
I don't know the exact dates but they filed their application with the FAA in early 2014 and by May of 2015 they had received their certificate and began revenue flights. It wasn't a re-certification. They went through the same process as Baltia for a new certificate.
They did it for a whole lot less money; maybe $20 mil as to $120 mil.
They did it a whole lot quicker; less than 18 months as to 27 years.
They did it with much younger airplane; a few years old as to a few decades.
The most recent abandonment of the Baltia Airlines trademark occurred 6/13/2016, well before their final evac failure.
http://tmsearch.uspto.gov/bin/gate.exe?f=searchss&state=4806:lhaz63.1.1
Lots of rooster logos available.
https://www.shutterstock.com/search/rooster+logo
DD/Summary: BLTA Hires Squeaky clean CP Capital Securities; Fruitless Funding/Aircraft Discussions Continue amongst the BFFs........
According to the lawsuit, a Colombian broker, Ricardo Ripepi, allegedly conspired with Santiago Goiri of Curacao-based Amicorp Fund Services and Jorge Reyes, a broker in the Brickell office of CP Capital Securities in Miami, to induce AFV of Venezuela to sign short-term loan agreements and in early December 2012 to transfer 234.6 million bolivars into a bank account owned by Wolkowiez’s Inversiones 01590 company in Venezuela for the benefit of borrower Atmosphere Fund, a portfolio company based in the BVI.
http://latinvex.com/app/article.aspx?id=1002
FINRA fined CP Capital Securities $5,000 in 2004 for violations of the Florida Securities Act (Fla. Stat. 517).
FINRA fined CP Capital Securities $21,500 for various securities violations in 2009.
FINRA fined CP Capital Securities $35,000 for various securities violations in 2011.
FINRA fined CP Capital Securities $5000 for various securities violations in 2014.
FINRA fined CP Capital Securities $70,000.00 in June of 2016
FINRA’s allegations against CP Capital included that the firm failed to supervise the offering of a private placement of securities of senior secured notes of a Columbian energy company. FINRA contended that the firm did not properly document and review the investment questionnaires used to determine eligibility and exemptions to participate in the private placement of the senior secured notes.
They're probably trying to catch a day when the arresting officers can't be in court. Without their statements, they'll try to plead out to a lesser charge, or to have it dismissed entirely to clear it off the court's calendar.
I wonder how court went today for the BBDA dynamic duo.
Baltia Mgt too shy to get current with their SEC filings or will they just let it go til they're sent to the gray markets?
Good to see CP Capital Securities is squeaky clean.
According to the lawsuit, a Colombian broker, Ricardo Ripepi, allegedly conspired with Santiago Goiri of Curacao-based Amicorp Fund Services and Jorge Reyes, a broker in the Brickell office of CP Capital Securities in Miami, to induce AFV of Venezuela to sign short-term loan agreements and in early December 2012 to transfer 234.6 million bolivars into a bank account owned by Wolkowiez’s Inversiones 01590 company in Venezuela for the benefit of borrower Atmosphere Fund, a portfolio company based in the BVI.
http://latinvex.com/app/article.aspx?id=1002
FINRA fined CP Capital Securities $5,000 in 2004 for violations of the Florida Securities Act (Fla. Stat. 517).
FINRA fined CP Capital Securities $21,500 for various securities violations in 2009.
FINRA fined CP Capital Securities $35,000 for various securities violations in 2011.
FINRA fined CP Capital Securities $5000 for various securities violations in 2014.
FINRA fined CP Capital Securities $70,000.00 in June of 2016
FINRA’s allegations against CP Capital included that the firm failed to supervise the offering of a private placement of securities of senior secured notes of a Columbian energy company. FINRA contended that the firm did not properly document and review the investment questionnaires used to determine eligibility and exemptions to participate in the private placement of the senior secured notes.
Baltia is not going to file a BK, that would require them to spend money they don't have.
Civil suits should be filed against Barry Claire, since Baltia has no money nor any other asstets, and the CEO on record with NY is dead.
Barry's settlement with the SEC, does not protect him from any other suits that arise from his illegal sales of Baltia's common stock.
Yes it was read & discussed when it was published. The Domestic operation story was fed to Seth Miller in hopes it would distract shareholders from Barry Claire's troubles with the SEC and that the FAA was not going to change their decision to deny Baltia Airlines' Application for passenger service.
Baltia's very own Great White Whale?
The reporting person, John A Drago, who is listed as one of Baltia's company directors, claims to have acquired over multiple years, a substantial interest in Baltia. As of October 30, 2015 = 1,008,173,896 shares of the issuer's outstanding common shares. In addition, Mr. Drago's wife, whom he married in July 2014, presently holds 41,652,406 unrestricted shares of the company. The combined family total is 1,049,826,302 or 14.60% of the currently outstanding shares of the company.
Just a mere coincidence he was directly, & indirectly the source of the misleading information and flatout lies being spread while Barry was illegally selling private placement shares of Baltia's stock.
A R/S is pointless. Baltia has milked this scam for all they could.
The FAA has denied their application.
N706BL has been reported to be in Kalitta's junkyard.
They lied about having the nonstop route from JFK to St Petersburg for many years.
They lied about N706BL passing the C-check in October of 2014.
They lied about being told to get ready for proving flights in November of 2015.
They lied about their illegally selling of private placement shares.
They lied about having solved the slide issues that have plagued airlines for decades.
They were evicted from one of their JFK addresses and from Willow Run.
A man they claim to be dead is still listed as Baltia's CEO at the NY DOS.
There will not be anymore annual shareholder meetings for Baltia.
Don't expect anymore financials or PRs to be filed by Baltia.
You expect us to believe that Baltia never received any of the Emergency Evacuation Demonstration Reports from the FAA for any of the 7 failed demos?
You're telling us that our favorite whale lied to us again?
If Baltia had a document where the opinions recommended a pass...THEY WOULD PASS THIS ON TO US. duh.
N706BL never would have failed mini #1 if it had been restored to mint condition with upgrades far better than what was being certified originally years ago.
Baltia has all of that information as well. It is very apparent that Baltia has told us the real story. Huh??
America's Newest Airline, Eastern Airline, is proof positive of that.
They leased aircraft that were built during the 21st century and passed their evac-demo on the first try.
YPSILANTI, Mich., Oct. 23, 2014 /PRNewswire/ -- Baltia Air Lines (BLTA) announced today that the C4 Check of its B747 Aircraft has been signed off by Kalitta Maintenance.
The C4 check, sometimes referred to as a D Check, is the most comprehensive inspection that an airliner undergoes, occurring every six years. The inspection involves structural and systems testing using X-ray, ultrasound, and other methods.
http://www.prnewswire.com/news-releases/baltia-air-lines-b747-heavy-check-completed-373911513.html
Odd, there wasn't a single SDR submitted on N706BL for anything during it's most comprehensive inspection. Then a few weeks after being given a clean health, problems are discovered, some repeatedly.
Did Russell Thal flat out lie to us in that PR?
Baltia's maintenance, and emergency slide installations, were performed by Kalitta Air, not Goodrich.
Show us the report of the slide that fell off of Baltia's plane N706BL.
The FAA showed all that they legally could on the documents released under the FOIA. Baltia has copies of the very same documents that are not redacted. Baltia can show us the non redacted copies since they have nothing to hide.
Heaven forbid Baltia to show us the FAA's opinions for any of the 7 consecutive evac-demo failures!
I think Baltia should have copied Eastern Airline's process. America's Newest Airline was up and flying in less than 18 months from the time they submitted their application and did it for less than a 1/4 of the money Baltia claims to have spent over their 27 years of failure.
Goodrich did not install the packed slides into N706BL, Baltia's maintenance crew did. So how is it Goodrich's fault that it fell off?
Only thing that fell off was a half assed slide packed by a certified packer called Goodrich.
Baltia does not need the FAA's permission to release non-redacted copies of those documents to the public.
Baltia's IR department blatantly lied to you? Have they, or anyone else pro-Baltia, ever really told you the truth?
Baltia's IR does the same thing as every other Stinky Pinky IR, they tell you what you want hear and spin the company as being the greatest thing since sliced bread.
So Baltia is the Demolition Derby and our favorite whale, the 13d filer, that implied he purchased over a billion PP shares, and the other Baltia bffs, have been feeding Baltia shareholders Cotton Candy flavored kool-aid?
This Dog became 189 years old on 8/24/2016. The days of Baltia's dog for hunting dopes to buy PP shares has passed.
Odd that our favorite whale, whose is a company director, has never filed a Form 4 to record the PP shares he bought. Vic Balonass filed form 4s, even good ole crooked Barry filed form 4s, but not a single one was filed by John Drago.
There won't be another shareholder meeting for Baltia.
That is what Kalitta bought 706 from Delta for to begin with. Then he became a willing participant of the scam by letting Baltia claim: YPSILANTI, Mich., Oct. 23, 2014 /PRNewswire/ -- Baltia Air Lines (BLTA) announced today that the C4 Check of its B747 Aircraft has been signed off by Kalitta Maintenance.
The C4 check, sometimes referred to as a D Check, is the most comprehensive inspection that an airliner undergoes, occurring every six years. The inspection involves structural and systems testing using X-ray, ultrasound, and other methods.
http://www.prnewswire.com/news-releases/baltia-air-lines-b747-heavy-check-completed-373911513.html
This is by far the most comprehensive and demanding check for an airplane. It is also known as an IL or "heavy maintenance visit" (HMV). This check occurs approximately every 6 years.[4] It is a check that more or less takes the entire airplane apart for inspection and overhaul. Even the paint may need to be completely removed for further inspection on the fuselage metal skin. Such a check can generally take up to 50,000 man-hours and 2 months to complete, depending on the aircraft and the number of technicians involved. It also requires the most space of all maintenance checks, and as such must be performed at a suitable maintenance base. The requirements and the tremendous effort involved in this maintenance check make it by far the most expensive, with total costs for a single D check in the million-dollar range.
Because of the nature and the cost of such a check, most airlines — especially those with a large fleet — have to plan D checks for their aircraft years in advance. Often, older aircraft being phased out of a particular airline's fleet are either stored or scrapped upon reaching their next D check, due to the high costs involved in comparison to the aircraft's value. On average, a commercial aircraft undergoes three D checks before being retired. Many maintenance, repair and overhaul (MRO) shops claim that it is virtually impossible to perform a D check profitably at a shop located within the United States. As such, only a few of these shops offer D checks.[citation needed]
Given the time requirements of this check, many airlines use the opportunity in order to also make major cabin modifications on the aircraft, which would otherwise require an amount of time that would have to put the aircraft out of service without the need for an inspection. This may include new seats, entertainment systems, carpeting, etc.
https://en.wikipedia.org/wiki/Aircraft_maintenance_checks
If this inspection really did occur N706BL never should have failed 7 consecutive evacuation demos.
I doubt we'll ever see management get prosecuted in a court of law. I do believe a trading suspension and move to the gray markets is in Baltia's future. There they'll fade off into the Stinky Pinky sunset with all of the other OTC market scam stocks.
You got to spin right. 27 years of on time fights and not a single piece of luggage has ever been lost.
I disagree, Baltic has been a fraud since 8/24/1989.
So it was you that brought Baltia down. The BFFs have said many times that Delta was behind all of those ever so slightly less than favorable evac-demo results.
What was our favorite company director of Baltia, their one and only 13D filer, referring to 4 years ago regarding the "Feed the shareholders campaign"?
Did they get a NOBO list and send pizzas to the shareholders, or was it the never ending stream of 8-8-8?
"Further to the "feed the shareholders" campaign....I had texted Barry last week that with nothing coming from Baltia itself, I feared by Friday we would be under .02 pps...........
I also emphasized....in light of the fact that Fidelity Investments dropped most of us who had Baltia shares in our portfolio......that I feared if Baltia did not do anything proactive in any way to help stimulate interest and confidence in Baltia's stock, the pps would continue to slip....
My biggest concern is that our options for (inexpensive) brokerages might soon become quite limited........................"
Were all of the lies that have blown up in the Baltia PumpaDumper faces humorous?
Being late to file a 10Q or 10K is quite common amongst the Stinky Pinkies.
Baltia has never missed filing their Notification of late filing, until now.
Will more of the dwindling few of Baltia's faithful followers, come to realize the gig is up?
Happy 27th birthday Baltia, you're the oldest failed Startup among the Stinky Pinkies.