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SJT, open your eyes man! Do you really think he was serving on the board as a hobby?
Nope, investors did.
In the midst of all of this, Felix Malitsky is posting about the Lamborghini Aventador S Roadster he is trying to acquire. (Or by now has acquired.)
Baltia always has been a little cash cow for some.
Mystermeat, those are certainly facts. Another fact is the SEC warned Tony and he failed to take any action. That is a "Bad Fact." If Liar Lampl is to be believed, the suspension "caught them by surprise." That is another fact. Tony must have believed that the SEC didn't give a shit about Baltia. That is speculation but it fits with the facts.
Empire:
What facts if any suggest that Tony intends to continue to try to create an airline?
DVAX looks very shacky, does not appear to be a good investment for a myriad of reasons.
The vast majority of current shareholders will never be able to sell a single share at any price. If current investors disagree with this position, you will get to find out in 9 days.
For the Baltia faithful, your best hope is Tony BKs this company and let's you be a charter PP investor in his new IPO.
Does SFOR have any litigation pending?
Is this a good stock to short?
Veronica:
Baltia Airlines has finally been suspended and is joining MRIB as another dead stock.
Janice, good to see you back at the Baltia board.
What do you think the chances are that the SEC has done enough of an investigation for a DOJ referral?
Marani is going to be the exclusive distributor of vodka at the FIFA World Cup!!!
Maybe not but Maggot should announce that!
PRESS RELEASE
Baltia Air Lines Provides First Quarter 2017 Update in a Letter from Its Chairman & President
Published: Apr 13, 2017 3:44 p.m. ET
NEW YORK, Apr 13, 2017 (BUSINESS WIRE) -- Baltia Air Lines, Inc. today announced that Anthony D. Koulouris, Baltia’s Chairman of the Board and President, issued a letter to company shareholders providing an update on recent corporate developments. The full text of the shareholder letter is provided below.
Dear Fellow Baltia Shareholder:
With my first full quarter as Chairman of the Board and President complete, I would like to provide you with an update on our progress and current status. As we transform our company with the ultimate priority of becoming a fully operational airline by the end of 2017, I can report that we believe the changes we have implemented thus far are positive for our company, and further that we will continue to work diligently toward our stated goal.
Since November 2016, we appointed Mr. George Kelsey of the Kelsey Law Group as General Counsel; Mr. John W. Lampl formerly of British Airways, as VP Corporate Communications; Captain Douglass Chouinard, previously of Swift Air, as Director of Operations; and Mr. James Calabrese, a 30-year aviation industry veteran as Director of Maintenance. In addition to these executives, Mr. Felix Malitsky, an accomplished and well-respected entrepreneur as well as President and Managing Partner of Fortis Lux Financial, joined our Board of Directors. These are talented and experienced professionals who have further augmented our team and will play a key role in the future direction of our company.
In January 2017, we retained Ellenoff Grossman & Schole LLP, a well-respected Manhattan-based law firm, to advise and represent us in several aspects of our business, ranging from securities compliance to financing. Since then, we launched a private, convertible preferred stock offering allowing us to raise capital in order to implement our restructuring efforts. We have also retained the services of a new accounting firm, separate audit preparation firm, and we intend to select an independent auditor to bring Baltia up-to-date and current with all regulatory filings. This process has been prolonged since the financial statements for 2015 and 2016 must be audited. The re-audit of the 2015 financial statements is necessary based on the removal and censuring of our prior auditors. I am confident that once the audit is finalized, Baltia will be on the path to more normalized operations and we can seek reinstatement of the trading of our common stock on the OTCQB Market.
With regard to FAA Air Carrier Certification, on March 29, 2017, our COO, Sheryle Milligan and I met with members from our new FAA Certification Team. Although we have been communicating with them routinely since the Regional Office assigned our project to the Indianapolis Flight Standards District Office (FSDO), this was our first time speaking with them in person as a team. We believe this meeting was advantageous for two reasons: first, it gave us the opportunity to introduce them to our updated vision for our company and our proposed airline operations, and second, the meeting allowed the agency the opportunity to update us on the numerous changes taking place within the FAA.
In particular, recently, the FAA issued new “draft” guidance for Air Carrier Certifications. To ensure our efforts at gaining FAA certification are accomplished using current data, the FSDO Manager obtained authorization to forward the draft to us for use in developing future revisions to our manuals. This will help reduce the possibility of having to recreate documents during this renewed certification project. We are hopeful that this action highlights the agency’s willingness to support our certification efforts moving forward.
Since our December 2016 announcement of our execution of a Letter of Intent to lease a Boeing 767-300ER aircraft, our relationship with Kalitta Air continues to be strong. We are currently collaborating to execute a lease agreement at the appropriate time so as to minimize unnecessary leasing costs and bring the aircraft online once maintenance is complete. In anticipation of flight operations, ten new registration numbers were reserved and purchased by us from the FAA, signaling our intention to augment our fleet to ten airplanes. This coincides with our vision for aggressive fleet and route expansion should we obtain FAA certification.
We have also been working diligently on re-branding our company and our updated service offering. This includes website development and creation of social media platforms, as well as additional marketing collateral for the business. We have forged new strategic relationships with senior management at The Port Authority of NY and NJ, political figures, and business partners here in New York as well as in cities we’ve targeted as potential pairing partners.
All of our company’s expenses and overhead have been assessed and a thorough overhaul of our financing and accounting functions has been instituted. I have implemented a strict code of fiscal discipline across the board, which includes re-negotiation of existing contracts with all vendors and business partners and elimination of unnecessary and or redundant services.
Finally, I look forward to sharing our detailed and comprehensive plan at our upcoming Special Shareholders Meeting to be held on or about Thursday, May 11, 2017 at Stewart International Airport Hangar G, located at 169 NY- 17K, Newburgh, NY 12550. Shareholders as of the record date for such meeting will receive additional details as well as proxy statement information in the coming weeks.
A lot has been accomplished and a lot remains to be completed; however what remains constant is that our team is dedicated, determined and disciplined to get the job done!
As always, thank you for your continued support.
Respectfully,
Anthony D. Koulouris
Chairman of the Board & President
Baltia Air Lines, Inc.
Maybe Tony and Lampl can learn how to spell in Club Fed....its coming boyz.
Certdog:
The clock is ticking. Tony really needs to get the fins up to date or the SEC will pull the plug permanently.
LT:
I thought it was USGlobal Airways? Is Tony going back to calling the company Baltia Airlines?
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
Mystermeat:
Barry Claire's case is long over. He was bagged and tagged. We are just waiting for the next group of defendants to be announced.
Baltia Signs Letter of Intent to Lease Aircraft
December 16, 2016 02:40 PM Eastern Standard Time
JAMAICA, N.Y.--(BUSINESS WIRE)--Baltia Air Lines Inc., (OTC-PINK: BLTA) announced today that it has signed a letter of intent to lease a Boeing 767-300ER aircraft from Kalitta Air, LLC. The terms of this lease and details of the aircraft will be disclosed in a subsequent filing with the SEC.
Baltia Air Lines President & CFO, Mr. Anthony D. Koulouris stated "I am very happy and pleased with this latest accomplishment as we embark on a new era. As we continue to move forward with my vision and plan of transforming our company, we are also in the process of re-starting the FAA Air Carrier Certification program." Mr. Koulouris also stated "Our re-structuring and re-branding continues as we strengthen our team as well as our current and new alliances."
The Boeing 767 is a mid-to large-size, long-range, wide-body twin-engine jet airliner built by Boeing Commercial Airplanes. It was Boeing's first wide-body twinjet and its first airliner with a two-crew glass cockpit. The aircraft has two turbofan engines, a conventional tail, and, for reduced aerodynamic drag, a supercritical wing design. Designed as a smaller wide-body airliner than earlier aircraft such as the 747, the 767 has seating capacity for 181 to 375 people, and a design range of 3,850 to 6,385 nautical miles.
Capt. D. E. Kramer, Baltia's Chief Pilot has extensive command experience on the Boeing 767, having operated scheduled air carrier service between New York (KJFK), London (EGLL), and on to New Delhi (VIDP), made the following statement "The Boeing 767-300ER is an outstanding choice of aircraft to operate between North America and Europe, and even to continue on to the Middle East region.” Capt. Kramer also stated that “over the years this aircraft has proven a high degree of dispatch reliability, along with an available pool of flight crew members to adequately support the operation. The aircraft is also based from and flown throughout most regions of the world, thereby enhancing the technical support of most any proposed operation."
Baltia's Chief of Operations, Ms. Sheryle Milligan stated "we are all excited about the new culture and strategies being implemented throughout the company. Utilizing the expertise and experience of our Executive Management Team has allowed us the opportunity to make changes that will prepare us not only for the completion of our Air Carrier Certification project but for future growth within the aviation industry. The input provided by our Executive Team which includes our 119 Managers and Members of the Board of Directors was instrumental in making the decision to move forward with the Boeing 767 aircraft. We are very fortunate to have a forward thinking executive team that has a demonstrated faith in our success which includes a strong commitment to our shareholders and employees."
Plans to unveil the new company are still being finalized and will be made public during the next shareholders meeting. Announcement of the next meeting date will be made sometime in January 2017.
Contacts
Baltia Air Lines Inc.
Brian Glynn, 908-507-7694
VP-Public Relations
or
William Kassar, Jr., 516-375-9130
Director-Investor Relations
It is a "run"
Maggott must be planing Marani Part 3. I wish she was in prison where she belongs.
Rolphtonair You forgot Con Air
Lampl admits Baltia couldn't afford the Songbird deal.
http://www.recordonline.com/news/20180220/baltias-plans-for-stewart-airport-delayed-again
Integral, I think Luna Tick was talking about treble damages (Treble damages means 3x of more what is actually owed). It depends on the statutory language and in NY state it is very confusing. However, on a theoretical level he is right that courts typically are more willing to award them to lower level employees.
Chouinard's claim under the ideal circumstances for him may be worth close to $300K.
I am hoping for some paper litigation as well. If they do actually litigate the merits, I will be there.
There is still no notice of appearance from Tony's attorney. PACER appears to have one filed on 11/15 but it is a mis-file for another case. I am not that familiar with civil case processing in fed courts so I don't know if the service of process returns normally show up in PACER or not. Do you? However, it is possible dear old Tony has already defaulted.
By now, service has to be effectuated I would think.
Luna Tic:
It will get award if Chouinard's case ends in a default judgement...which is getting more likely by the day.
AK:
The $ figure may be much higher, NY's failure to pay law is complicated but Tony might be paying treble damages "3X" plus Chouinard's legal fees. Can you say OUCH.
https://www.law.com/newyorklawjournal/almID/1202783664927/?slreturn=20171102163122
All Tony really needs to do is get the financials up to date. If he can do that, he can do a RS, whip up a new tale and sell billions of PP shares to the faithful. That is a tried and true strategy. It could easily extend the life of the company decades without flying any miles.
Advisor, you joke but I am sure you recall all the talk from the shareholders meeting about USGlobal being a "customer centric" company to fill a market gap.
Agreed! Tony should buy a minor league hockey team. There is big money in minor league hockey!
Mystermeat, if they can keep the PPS steady with a series of pumps, they will just have to sell 400 million shares to recover it all. They do need to do a few clever pumps to get the volume up but he can easily do that.
Mysterymeat:
It is only $1 million, what is the big deal?
Tomorrow may be another slide downhill. Tony's leak which was posted several times today that a SUPER BIG PR would be released after the close turned the tide today. However, now that investors have read it, the sell off will resume.
If the Songbird deal was so bad for Baltia, then Tony was totally ineffective for entering into the agreement and losing $1 million in shareholder money in the process.
The divi is due on the $720K worth of preference shares in Feb or March. As I recall is 12% or $85K. That is convertible for shares at double value or $170K worth of shares. I don't think Tony has that many shares to pass out without an RS or increase in the AS>
Rulesrule:
A lot of the shares held by insiders are paper shares and can't be converted to tradable shares until the company is current with their SEC filings. Tony admitted that his own shares fall into that category. So, I would not read too much into their "holding" shares because it may not be voluntary.
certdog:
One might also assume that the company requiring confidentiality does not exist. But if they do exist, I bet they demand a $1 million down payment....hahahaha.....its like free money.
On a brighter note, I can't think of many more bad things that could happen to Baltia.
Accomplishments under Tony
1. A $1 million deposit was lost
2. They got sued
3. They got an unrelated demand for $8 million
4. The DOT revoked their "fitness to fly" status
5. No financials have been filed
6. They created an information blackout
Any questions?