Here, this is from Baltia's quarterly report on 5/20:
4. Note Payable
On March 31, 2013 the note payable to Eastern Construction & Electric, Inc. was modified as to the repayment of the note. The repayment was modified to read "Company will repay the principal amount of $1,150,000 to lender on or before the second anniversary of the date upon which the company commences its revenue flight operations. The Company will pay accrued interest to date on or before the first anniversary of the date upon which the Company commences its revenue flight operations." All other terms of the agreement remain the same.
Interest accrued to March 31, 2014 is $345,000.
It could be a coincidence that Eastern Construction got $300k worth of stock on 6/2, but it might very well be the loan repayment. You can't tell from the form. People can choose to spin it however they deem fit.
