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Robodog:
I was not complaining that Tony still has Igor listed as the CEO on the NY Secretary of State website....I was laughing about it. It is Tony's responsibility to correct it.
mystermeat:
The NY Secretary of State still lists Igor as the CEO of Baltia....hahaha.
Chief Executive Officer
IGOR DMITROWSKY
JFK INTERNATIONAL AIRPORT
BLDG 151
JAMAICA, NEW YORK, 11430
troyal:
This is a whole new company so none of those prior promises have any relevance to anything. Only 7 weeks and everyone will be rich after Baltia pays $6.2 million that it doesn't have for Songbird!
Firestream:
I am looking forward to reading the executive compensation sections of the amended financials. People have a right to know what the Baltia gang was earning!
Firestream:
Not speculation! Tony said at the May 11th shareholders meeting that his legal team was working diligently to get control of those shares. As we have had no update, it is fair to assume that effort did not go well.
As I understand it, Igor's shares will escheat to the state of NY soon as he died intestate. I guess they will be sold on the market as well.
Anybody know the status of the loan with St. George Investments, LLC? Have they paid it off or do they still owe $655K.
Firestream:
Until the SEC filings are completely up to date, people who bought private placement shares have no way to convert them to tradeable common shares. So, it is a very big deal for many people.
Do you think the financials will get updated during the month of August?
certdog:
A Chapter 13 Reorganization Bankruptcy freezes the debts and allows the filing company time to get their business situation in order. They can also cancel debts in part or in total. However, they need to be an ongoing business and that is going to require a revenue stream that is absent with Baltia.
certdog:
I don't think there is any chance Tony would let a bankruptcy receiver anywhere near the books, that could lead to extremely bad results for anyone that might have had "sticky fingers" or was grossly incompetent with the cash.
Inorout:
When? It has been 2.5 months since the SHM and it still isn't done.
Laguna:
Tony has got to refile corrected financials and resolve the Logistics Air claim before this company can move forward. I don't think the FAA will seriously work with Baltia until the SEC filings are up to date.
John Lampl is the Director of Communication, why didn't he put it on the wire? It doesn't seem like that was a very effective PR.
Tony has got to get the Logistics Air demand resolved and the SEC filings corrected/up to date. Baltia is going nowhere until these things happen. The market spoke the last 2 days and people clearly are not going to react positively to Tony's pumps. Take it to the bank!!!
flaflyerfan:
It won't be any problem at all. When the September 15th deadline gets close,Tony will come up with a new BIGLY plan and evryone will forget about Songbird.
AK:
It has all been downhill since Igor's untimely demise. He really understood how to get investors to pour money into the company. Tony just doesn't have the ability to inspire people as effectively as Igor.
flaflyersfan:
It was only an $8.8 million oversight, it could happen to anybody. Wasn't Tony the Chief Financial Officer when this error occurred?
I emailed John Sherman and he said he is no longer employed by Tony and the Baltia clan.
We are 6 business days from Tony accepting the 767 from Kalitta. If it actually happens, the PPS should bump up a bit. If it doesn't happen, well you can just imagine what will happen.
I didn't see the PR about Q2 being released next week but I am very anxious to see how much the executives are paying themselves!
AK:
I think Tony and the team should give themselves some hefty executive bonuses for all their hard work.
The best article about Baltia ever written, http://michiganradio.org/post/strange-story-behind-boeing-747-once-parked-willow-run-airport
Menachem, it might be a good time to do a followup story!!!
Hi -- my name is Menachem Kaiser, I'm a radio producer with NPR out of Michigan. We're doing a story on Baltia Airlines -- would love to chat with anyone who has knowledge/experience with Baltia. You can reach me at menachem@umich.edu -- thanks!
The name change to US Global seems to be coming along smoothly.
Wick:
Good find and the author certainly has written a very well researched and balanced article about Baltia. Shareholders might not like it but the author is just giving true facts.
http://www.telegraph.co.uk/travel/news/air-baltia-worst-airline-rebranding-but-will-it-ever-fly/
AK:
Tony needs investors to think BIG and dream a little.
And don't rely on facts when making investment decisions.
Peter1308:
You can take it to the bank!!! BIGLY!!!
this pps is 100% reflection of Baltia's progress on the topics you have mentioned.
And therefore pps will continue to decline - bet on it!!!
10 days until the plane is delivered!!!!!
On May 9, 2017, Baltia Air Lines, Inc. (the “Company”) entered into an Aircraft Lease Agreement (the “Agreement”) with Kalitta Air, LLC (“Kalitta”), pursuant to which the Company will lease a Boeing 767-400ER model aircraft from Kalitta. Such aircraft will be equipped for worldwide geographical operations. The Company will take delivery of the aircraft no later than July 30, 2017 for a term of 24 months unless Kalitta recalls the aircraft for conversion from passenger use to cargo. The parties may also choose to extend the term of the lease. Under the terms of the Agreement, Kalitta is required to provide the Company with all historical records related to the aircraft airframe and engines in order to meet regulatory requirements. No later than five business days prior to the delivery date of the aircraft to the Company by Kalitta, the Company shall pay to Kalitta a lump sum basic rent payment. Thereafter, the Company will be responsible for monthly maintenance fees in connection with systems, zonal and structural checks, accumulated flight hours, accumulated flight cycles, landing gear overhaul and certain heavy repair maintenance. The Company intends to use this aircraft to obtain its Air Carrier Certification with the Federal Aviation Administration, which is currently in process.
Baltia's best chance of getting certified and actually becoming an airline would be to do a merger with Avatar airlines. They have all the 119 positions covered, have financial resources and have the best management team in the industry.
retiredanalyst:
Baltia is a new kind of company and has attracted a whole new breed of investors. Baltia investors have complete faith in Tony and he speaks to them at special shareholder meetings and also through some select investors. Baltia investors don't care about financials, that's old news and not relevant to the historic successful of this incredible little airline. Baltia is like a Phoenix, it just keeps rising from the ashes. So, cash out your retirement fund and join the party
This week would be a good time for Tony to issue a PR and give the troops a dose of confidence!
If Tony recieved an aircraft, he has 4 days to file an 8K as that would clearly be a material event.
However, we all know that Baltia did not receive an aircraft
If Tony took possession of an aircraft, a PR would come out in minutes.
Zeke:
When the 12/15/16 aircraft lease deal didn't work out, the story about lease deal #2 with Kalitta was concocted. As that deal is supposed to be finalized by 7/30/17 and that date is approaching, the Songbird story got released. As we approach the Songbird deadline, a lease deal or purchase with XYZ company will be announced.
Rinse and Repeat
Sometime in the near future either PP shares or preferred shares will need to be sold so da Crab Shack tabs can be paid.
Go Tony!!!!!
One of the GREATEST OTC CEOs of recent times!!!!!
Item 1.01 Entry into a Material Definitive Agreement
On December 15, 2016, Baltia Air Lines, Inc., a New York corporation (the "Company" / "Lessee"), and KALITTA AIR LLC, a limited liability company ("Lessor"), entered into a legally binding letter of intent for the lease of one Boeing 767-300ER aircraft, serial number 26234, to be delivered on or before April 1, 2017 or as otherwise agreed, to Oscoda, Michigan, on terms to be determined following inspection of the aircraft by the Lessee and execution of an Aircraft Lease Agreement, for an initial term of 12 months, .
The Company has deposited $10,000 as a refundable deposit to secure this letter of intent. Both parties will bear their own costs related to the transaction, and have agreed to secure approval of their respective corporate bodies within 10 days of the execution of the Lease Agreement.
Item 1.01 Entry into a Material Definitive Agreement
On December 15, 2016, Baltia Air Lines, Inc., a New York corporation (the "Company" / "Lessee"), and KALITTA AIR LLC, a limited liability company ("Lessor"), entered into a legally binding letter of intent for the lease of one Boeing 767-300ER aircraft, serial number 26234, to be delivered on or before April 1, 2017 or as otherwise agreed, to Oscoda, Michigan, on terms to be determined following inspection of the aircraft by the Lessee and execution of an Aircraft Lease Agreement, for an initial term of 12 months, .
The Company has deposited $10,000 as a refundable deposit to secure this letter of intent. Both parties will bear their own costs related to the transaction, and have agreed to secure approval of their respective corporate bodies within 10 days of the execution of the Lease Agreement.
Dischino:
This time Tony has hand selected an all star team of airline professionals. Igor was a great guy he was just a dinosaur when it came to creating an airline. That is why 27 years went by and they are still not flying. Tony will be flying paid customers to Europe in 8 months. Does that sound about right?
I wonder how the FAA application has been coming along? It certainly will be exciting when they get to the mini evac test this time!
Two months plus after the Special Shareholders Meeting and Baltia has done great things!!! They have approval to do a reverse split and a name change from the shareholders. They plan to accept delivery of a 767 in less than two weeks and they have a non binding contract to buy a whole airline.
What could possibly go wrong????