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Either both propositions have passed or the company formerly known as Baltia gave up (and will wait until 6/9). However, since there has been no PR, I assume it is the latter.
What happened to all the "Vote Your Shares" messaging?
Robo:
I have serious doubts that GBH is going to get the audit done in 60 days. However, maybe I will be proven wrong.
The other aspect of the SEC filings that needs to be cleaned up is the free referral shares that were passed out. That needs to be appropriately identified in the amended SEC filings.
(Coincidentally, it now appears that some or all of the free shares are worthless due to the way the certificates were drafted.)
Does anyone know if there is a Crab Shack near Stewart International Airport?
Just like Tony, I don't really care if the PPS goes up or down in the short run. Tony is absolutely correct. The current PPS is meaningless.
GBH may be able to clean up the auditing mess to everyone's satisfaction. However, it is going to take a while as they have got to flip over every stone.
However, it is also possible that they refuse to certify or have a falling out with Tony.
Integral:
But to be fair about this, Tony has got to come up with some explanation for why N706BL was counted as an asset when it wasn't. It may not have been his fault, maybe it was the dead guy who is responsible. However, that has to be fully explained.
From the auditors point of view, this has got to be an enormous red flag. I bet Tony is paying thru the nose for this audit.
Integral, you are correct....but who's counting!
Integral:
Their prior auditor lost his license, in part because he didn't bother to make sure the 747 N706BL, listed in the SEC filing as a 1.5-2.1 million dollar asset, even belonged to Baltia.
https://pcaobus.org/Enforcement/Decisions/Documents/105-2016-054-Scrudato.pdf
See paragraphs 12-15.
As a result, the auditor lost his license.
In light of this fact, it is understandable why Baltia had to go out of state to hire an auditor. It is also understandable why the audit is going to take a while.
Good for Tony!!!
That is the million dollar question. My guess is they will sell preferred shares and very quietly sell private placement common shares. As long as they can sell $500K of those a year, they will be able to stay in business indefinitely. Obviously, they won't have an aircraft if they only raise 500K but junk planes have been nothing but trouble for them.
Why don't they buy a couple buses and shuttle people from Manhattan to Stewart to get some revenue flowing? This would also help them if they ever do get a plane.
He is probably still reading the 40,000 pages of evidence that prove that the FAA was colluding with the Russians to fail Baltia.
Let's change this MB to US Global Airlines now!
This won't change the ticker symbol obviously.
However, it will signal that we are behind the name change and support the company. It would also make it easier for newbies reading all the new press coverage to find .
US Global has vowed that there will be no more dilution, which is a great thing for common shareholders. However, remember that the preferred shares have the option of paying dividends in common shares and/or cashing them out entirely for common shares at very favorable rates. However, as the company will be transporting its first ticketed passengers in a few months, shareholders have nothing to worry about.
https://www.sec.gov/Archives/edgar/data/869187/000161577417001118/s105602_8k.htm
US Global will have absolutely no dilution with the exception of the dilution caused by share conversions. However, just to be safe, they need to get the RS done so they will have room in the AS for all the cash-outs.
Mods: Please change the name of this board to US Global Airlines
Superman:
US Global has got to be better than United, as far as I know US Global employees haven't beat the hell out of any passengers. However, Tony is changing the name of the company and modifying the business plan. I don't think that is a "Takeover".
Certdog:
The website under "Our Story" also says, "USGlobal Airways is the product of the successful takeover of a previous company attempting to acquire air carrier certification."
So, its not just a name change....it is a TAKEOVER.
Empire:
SJT:
In the vast majority of these situations, a relative is found. Or alternatively, a will is miraculously found...sometimes both.
I don't know the timeline for property escheating to the state. I would guess 1-2 years but that is just a guess.
It sounds as if Igor died intestate, meaning he did not have a will. What happens next is controlled by a statute in NY. Generally speaking, if a relative(s) can be found, they get his estate, including the shares. If not, the whole estate (including the shares) escheat to the state of NY. (Escheat means the state takes possession of and owns). The state of NY would liquidate those shares relatively quickly.
My experience tells me a relative will come out of the woodwork and claim the prize. I didn't know Igor or his family circumstances but that is what happens most of the time. That relative might hold or sell, who knows.
https://www.nycourts.gov/courthelp/WhenSomeoneDies/intestacy.shtml
Don't ask what Baltia can do for you. ask what you can do for your company.
Get out and vote now YES and YES for the name change and the RS.
Don't make LT wait .
This message was not paid for by anyone!
No quorum? So sad.
I think the Russians tampered with the voting process.
Here is an FAA 121 certificate that Tony could pick up very cheaply from the BK receiver.
http://www.nola.com/business/index.ssf/2017/04/glo_airlines_files_bankruptcy.html
Oops, they do public charters
It is a different aircraft.
The 12/21 8K is for one Boeing 767-300ER aircraft, serial number 26234.
The May 11th 8K is for a Boeing 767-400ER.
The second 8K makes no effort to supercede the first.
Based on what is currently available in the SEC filings, it is unclear whether Baltia is leasing one or two aircraft. This kind of extra-sloppy record keeping is going to make it very difficult for the independent auditor.
A trademark isn't a domain name...check your facts...lmao
Depending on one's point of view, maybe this is a problem and maybe it isn't. However, the trademark for US GLOBAL AIRWAYS is owned by Anthony D. Koulouris and not Baltia Airlines.
So, technically speaking the shareholders of BLTA don't own US GLOBAL Airways and never will, unless Tony gives/sells the right to the name to the company.
https://trademarks.justia.com/873/98/us-global-87398866.html
Decide for yourself if this has any meaning in deciding what to do with Baltia shares.
Also, US GLOBAL AIRWAYS was trademarked, not USGLOBAL AIRWAYS
You just can't make this stuff up! Tony's new phone number is 888-429-1250. Admittedly, he probably didn't know who used the # previously. However, it was "Gay South Florida." I think they can expect some colorful calls, it was a gay dating site.
https://phoneowner.com/8884291
Maggit gave up on marketing swill?
FlyBaltia747:
It makes absolutely no sense.
Blue:
You have a very large prediction based on a clumsily worded PR. Good luck!!
There will be a lot of sing the blues tomorrow when Tony's latest 8K fantasy only slightly moves the needle!
Take it to the Bank!!!
1994 was a great vintage for 767s....You can Take that to the Bank!!!
Now that Tony Baloni seems to have gotten some good will flowing from the rank and file investors, it is for him to unveil the reverse split that was so eloquently described recently.
Enjoy the roller coaster Baltia faithful!!!!!
mysterymeat:
Are you suggesting that Connie did the handiwork on the girt bar and not Jack/Sarah?
Well, I am going to wear body armor in case it starts raining lead in my direction.
Firestream:
Is the offer for a proxy on one share still good? I got a lot of questions for Tony and will need to sit in the front row.
I guess Tony decided to forget about yesterday's accounting revelation?