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Deltasaint, I don't doubt that you are reporting what you were told. However, the state of NY has a duty to the citizens of the state to liquidate those shares for the maximum amount of money that can be obtained. I agree, that does not mean it must be on the open market. However, they can not give Tony, Baltia or anyone else favorable treatment in the disposition of the shares. Once Tony has the shares in Baltia's possession, he is free to retire them....but that is after they have been lawfully purchased.
Baltia has had another fantastic week. Tony must be putting the finishing touches on the Songbird contract?
Tony can't retire Igor's shares. They either go to an heir or if there isn't one, they go to the state of NY. The state of NY has to sell them and will do so promptly upon receipt.
When will Tony issue a PR explaining if the $655K loan from St. George Investments has been paid?
All Tony needs is $10-15 million in startup cash and he will have a chance to get the airline going. Anyone got some extra cash for him?
Robo:
I think Baltia already failed....past tense. I don't there has been an honest attempt to create an airline in years.
certdog:
I have a feeling that GBH and Baltia have parted ways with the audit unfinished. Tony may have been unwilling or unable to provide certain documentation to them. However, he can prove me wrong if the financials do get completed by them.
certdog, when I thought that through, I know you are right. Our boy Buckley has got some splaining to do. It is not credible that he just forgot about an 8.8 million dollar debt.
I thought Tony was the CFO part of that time?
BREAKING NEWS....Baltia will file corrected SEC filings SOON!
Monroe1:
That is a good one..."SOON," We all know Baltia has redefined that word.
Monroe1:
It has been 90 days since the SHM and still no word on the timing of the updated financials. Obviously, there is a major problem. Shareholders should be ready for a very long wait.
It might be time for the next Crowdfunder campaign to raise capital for Baltia!!!
https://www.crowdfunder.com/baltia
Itr would be nice if Tony would update the shareholders on the status of the negotiations with Logistics Air. Maybe the PIO for Logistics might make a public statement?
Inorout:
Tony has every skills necessary to be a penny stock CEO. He knows how to issue PRs, sell stock, rinse and repeat. Knowledge of the airline industry really isn't necessary.
We are 5 weeks away from the scheduled Songbird acquisition. By now, Tony must have the $6 million stashed away to buy it!!!! I guess he is just being quiet because he wants to really ramp up the suspense for shareholders.
Peter1308:
Yes, they delayed the Kalitta lease until 2018....or maybe it was 2019.
mysterymeat:
Thanks for the excellent DD.
I guess that $8.8 million debt with Logistics Air still hasn't been resolved. I am not seeing transparency that Tony promised.
Tony needs to get a Twitter account so that he can speak directly to his followers daily.
Peter, Tony put a "press release" on their website that stated:
Do auditors owe the company they are auditing a duty of confidentiality?
To make this more concrete, if GBH finds evidence of criminal fraud, can they ethically call the SEC?
I don't know the answer to this but perhaps someone on the MB is an accountant.
certdog:
You are right about that, it could easily take a year or more if the books are really a mess.
Any chance the financials will get done this week....probably NOT.
Hmm, what is Steve Neuhaus saying about Baltia today?
A wonderful tribute to Baltia Airlines
emit:
USGlobal Airways has been able to distinguish itself from its past and its competitors in a variety of ways. 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.
certdog:
I think you are right, the preferred offering was for salaries and other expenses. If correct, I believe the $1 million down payment was actually a IOU.
I am not going to promise DD will be delivered that I don't currently have...but I do have a contact.
I am doing some detailed DD on Songbird Airlines. I will post the information I am able to uncover in the next week or two. It may or may not have an impact on the BIG Baltia deal.
Blue Donkey:
Let's hope Tony gets those deceptive SEC filings for the past 2 years fixed soon!!!!
Less than 45 days until the big Songbird acquisition will be complete. Everyone is very excited with Tony's BIGLY success.
Monroe:
The Songbird deal seems to be the last hope before the ship goes down. I don't think he has the money to do it.
Monroe, people that bought PP shares from Baltia/Tony (or got free shares for referrals) can't sell until the financials are up to date. Once that happens (if it happens), the market is going to have a mountain of shares dumped on it
The MMs are keeping the price down at the request of shorty.
So, what happens if the Songbird deal falls thru the cracks?
Certdog:
Perhaps Tony should go back to certifying with N706BL. Igor figured out the slide problem so the should be able to pass the mini evac in 3 or 4 tries.
certdog:
You make some good points.
Correcting the old SEC filings must be a very very big job. GBH has been working diligently for 10+ weeks and has not been able to complete the job. As Baltia has never made a dime, there can't be that paper to go through to complete this task.