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SEC filing requirements do not allow for financial filings to be held to coincide with a corporate update.
"Was he timing the release of financials to coincide with an update on another deal?"
The Whales are not going to pony up squat. They have no desire to flush any more money down the Baltia's toilet.
Johnny stopped writing checks to Baltia.
Director Vick Bolonas stopped funding this disaster when Barry Claire got nailed by the SEC.
USGLOBAL's management web page is hilarious.
Anthony D. Koulouris, a Wall Street super genius who knows how the game is played. Why did he let this get suspended? He was well aware of the filing requirements.
Sheryle Milligan, Baltia's FAA certification super genius, with over 30 years of aviation experience and a perfect record before joining Baltia.
How does someone with so much experience in FAA certification, fail to advise the CEO of the DOT's economic authority requirement for 3 current years of financials?
Michael Jordan, another Baltia super genius, with 30 years experience as a highly accomplished entrepreneur and international capital markets executive with years of senior corporate and sales management experience and a superior track record of transforming new, existing, and struggling organizations into highly profitable companies. Where's the money?
George W. Kelsey, Baltia super genius lawyer, has 32 years of experience in litigation in state and federal courts. Was filing a simple response to the ALJ's first order too difficult for him?
For the past 15 years, he has specialized in all facets of aviation law, including aviation-related litigation. His focus, however, has been on aircraft-related transactions, such as aircraft sales and purchases, leasing, engine and maintenance agreements, deicing, ground handling and other transactions related to airline operations. He has negotiated and closed extensive international aircraft-related contracts in Japan, Australia, Kuwait, India, Lebanon, Saudi Arabia, the United Kingdom, Ireland, Tunisia, Morocco, Brazil, Colombia, Ecuador, Peru, Argentina, and Mexico. I guess we know who wrote $1 million give away in the Songbird deal.
I'm not sure the revocation will be issued next week, I am hoping it will be. Either way it will be happening a whole lot sooner than a Baltia soon.
Friday is the due date for the Show Cause. There is no hearing scheduled. The registration will be revoked very soon.
You didn't hear?
Tony went to the G7 summit. Trump left early because all of the others leaders were busy begging Tony to take their money.
Did you not watch the SHM video where Tony promised transparency and to be SEC compliant?
Did you miss the shareholder update where he told us the 2015, 2016 and first 3 quarters of 2017 were completed?
Why didn't he post them 7 months ago when he said they were ready?
Looks like a name is missing from that list.
Seven months ago the company stated: First and foremost, we have completed the audit for fiscal years 2015, 2016, and the first three quarters of 2017 .....
The Whales would not pony up the money then.
The Whales would not pony up the money three months ago, when the SEC sent the company notice to cure their delinquencies.
The Whales would not pony up the money when the suspension took affect.
The Whales will not pony up the money now for the show cause.
The company could not raise the money to buy Songbird.
The company can not raise the money to pay the auditors.
Nothing has changed that would improve the company's chances of raising any capital, from anyone.
Somebody is going to have one heck of a koolaid hanger in the near future.
You're not the only one, there are hundreds of others that wish they had cashed out long ago.
If it is an insider, then we'll soon see some Form 4s filed showing their Baltia transactions.
I think at least 3 people on this board really believe they will show good cause.
Baltia will not show good cause. No if, may, or maybe about it.
Yes I have. The part you conveniently are overlooking, is if Baltia does not Show Cause by June 15 2018, there will be no need for the prehearing conference call in July. The registration will be revoked.
Keep dreaming and buying Baltia shares.
So you want us to believe Baltia has shared this information with you in violation of fair disclosure? Where did I leave that whistle?
What, do tell, will we whistle blowers collect from the SEC?
With nearly 10 billion shares outstanding, only tens of millions are being held?
I know this will come as a shock to you, Baltia did not contest the original suspension. That would have required a written response to the ALJ within the allotted time. If they had responded, the May 31 hearing would have proceeded as scheduled for whom ever responded.
Green Energy did respond and they accepted the revocation, that is why it is over for them.
Baltia is not going to show cause and will their registration will be revoked.
Hmmm, no money to pay the auditors, means there was no money to pay the law firm to file the answer to the previous order and none to file cause.
Partially true, Baltia will die without the Global fanfare that Eron did, but it will die.
To quote an old favorite from Conversion Solutions Holdings' CEO Mr. Rufus Paul Harris, "Buy The Crap Out of It".
Baltia is in sub penny land where nightmares come true.
I hope they keep buying, so the people wanting out can.
3.135 mil trade, someone was able to empty their bags.
They're having a 3 for 1 special at the Crab Shack on 6/15/18.
None of those are need to see Baltia's future. The week of, if not on 6/18/18, the ALJ will issue the order revoking Baltia's registration.
Oh he is definitely Baltia CEO material. Now if they had just rolled out the 10-Q for the second quarter, they would not have gotten suspended.
Right, Tony has been so busy trying to resolve this he didn't have time to submit an answer.
To date,
Baltia Air Lines, Inc., Graphite Corp., and 24Holdings, Inc., have each failed to file an Answer within the time provided. Accordingly, Baltia Air Lines, Inc., Graphite Corp., and 24Holdings, Inc., are each ORDERED TO SHOW CAUSE, by June 15, 2018, why it should not be deemed to be in default and the registration of its securities revoked.
Nah, the happiness will come the following week when the ALJ issues the order revoking Baltia's registration.
Tic Toc Tic Toc Revocation day for Baltia's registration is coming.
Yes, it was dismissed.
Full docket text for document 11:
STIPULATION AND ORDER OF VOLUNTARY DISMISSAL WITH PREJUDICE: It is hereby stipulated and agreed, by and between the parties in the above captioned action, through the undersigned counsel, that, in accordance with Rule 41(a) of the Federal Rules of Civil Procedure, the action is dismissed with prejudice and without costs or fees to any party. This stipulation may be signed in counterpart, and facsimile signatures shall be deemed to have the same binding effect on the parties hereto as originals. All scheduled conferences or other scheduled Court appearances are cancelled. Any pending motions are moot. The Clerk is instructed to close this case. So Ordered. (Signed by Judge Vincent L. Briccetti on 2/15/18) (yv)
In the formal legal world a court case that is dismissed with prejudice means that it is dismissed permanently. A case dismissed with prejudice is over and done with, once and for all, and can't be brought back to court.
Something has not been right with Baltia for a very, very long time.
No repayment of the ST George loan.
https://www.sec.gov/Archives/edgar/data/869187/000116519516000057/2016_8K_MaterialAgreement.htm
Defaulting on the preferred shares sold last year.
https://www.sec.gov/Archives/edgar/data/869187/000161577417002704/s106348_8k.htm
Ignoring the DOT’s letter dated September 13, 2017, reminding Baltia of the requirements of section 204.7.
Baltia withdrew its application for air carrier certification.
https://www.regulations.gov/contentStreamer?documentId=DOT-OST-2007-0007-0068&attachmentNumber=1&contentType=pdf
The falsified 8k filed 9/1/17 announcing the Songbird acquisition clearly stated the company had the funds immediately available to complete the transaction. “5.6 Sufficiency of Funds. Buyer has sufficient cash on hand or other sources of immediately available funds to enable it to make payment of the Purchase Price and consummate the transactions contemplated by this Agreement. Proof of funds will be made available to the Seller 15 days prior to the Scheduled Closing Date.”
https://www.sec.gov/Archives/edgar/data/869187/000161577417004908/s107400_ex10-1.htm
Then Mr Lampl let the cat out of the bag that they did not have sufficient funds.
http://www.recordonline.com/news/20180220/baltias-plans-for-stewart-airport-delayed-again
Even Tony alluded to the fact they did not have the money in the 11/30/17 shareholder update. “Our capital raising efforts have been directly affected by the actions of the legacy company….”
https://www.usglobal.com/latest-news
On 11/13/17 it was revealed the Songbird acquisition had been terminated.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136150128
Tony lied in the 11/14/17 shareholder update claiming they were still eager to complete the Songbird acquisition.
https://www.usglobal.com/press-release-july-24th
And repeated on 11/28/17. I'm sure we're supposed to believe the only communication to Baltia about the termination was the letter delivered 11/29/17.
http://www.midhudsonnews.com/News/2017/November/28/SWF_USG-28Nov17.html
The issue of not being current with financials, should have been a huge red flag for Baltia’s certification expert, Sheryle Milligan, a year ago when they announced the Songbird LOI.
As per 14 CFR 204.3 …“(1) Copies of the 10K Annual Reports filed in the past 3 years by any relevant corporation required to file such reports with the Securities and Exchange Commission, and (2) Copies of recently filed 10Q Quarterly Reports, as necessary, in order to show the financial condition and results of operations of the enterprise current to within 3 months of the date of the filing of the application.”
https://www.gpo.gov/fdsys/pkg/CFR-2012-title14-vol4/pdf/CFR-2012-title14-vol4-part204.pdf
Knowing the financials were not current, Baltia should’ve never considered buying a certificate.
Much more difficult to to trade on the grey markets because there are no market makers providing qoutes. Baltia's registration will be revoked very soon, and we're not talking Baltia soon either.
Don't you remember? They already turned Delta's $500 mil offer down.
Baltia has not been cooperating with the SEC, as they and you want us to believe.
Probably a lot of bogus payments for insurance.
Nah, trips are only temporary, soon we'll see quads and then quins. Or nadas might get here before quads.??
No money, they couldn't pay the whiz bang auditors either. Tony had to go dumpster diving for scrap aluminum to get the phone turned back on.
He needs to get the scooper out again, his horse dropped another turd today
They'll probably deliver it to Swift Air since they own it.
Yes, the Bubba of Bubba Gump shrimping.
Really? Losing the $1,000,000.00 didn't wake him up? The delinquency letter they got on March 6, 2018 didn't wake him up?
Why does Tony need to be woke up? He is A Wall Street Genius who knows how the game is played.
There is no hearing currently scheduled for Baltia.
Accordingly, Baltia Air Lines, Inc., Graphite Corp., and 24Holdings, Inc., are each ORDERED TO SHOW CAUSE, by June 15, 2018, why it should not be deemed to be in default and the registration of its securities revoked. See OIP at 3; 17 C.F.R. §§ 201.155(a), .220(f).
IT IS FURTHER ORDERED that the hearing is POSTPONED sine die, and a prehearing conference shall be held by telephone on July 20, 2018, at 10:00 a.m. EDT, if the proceeding has not been resolved by then.
https://www.sec.gov/alj/aljorders/2018/ap-5752.pdf
Baltia will not show cause by 6/15/18 nor will they participate in the prehearing conference call on 7/20/18.
I do not expect an update from Tony and doubt there'll be 100 million in volume between now and then at any prices.