I would also like to add that the verbage used in this agreement for loan repayment is legally binding. So if this was a loan repayment, as flyersfan leads us to believe, the verbage would clearly have to state that the loan repayment has to begin one year from the date the loan was issued or the modification date or else this would not hold up in a court of law if Baltia were to default. If this truly were the case, the person who drew up this agreement needs to be fired for putting the lender at risk.
The verbage clearly states, "one year after revenues from flight operations" (for interest accrual up to date)and that is the only statement a court can uphold. At the end of the day I believe this was just a big coincidece that got misread.
If the aniversary of the modification was on March 31st 2014 then the interest accrued on the loan was also repayed two months and two days late since the 30 million share transaction occured on June 2nd and also not for the full amount since it falls $45,000 short based on another posters calculations. I say modification because the loan was originally given back in 2010.
Too many holes in this story. This clearly looks like a totally different transaction having nothing to due with a loan repayment. I guess that's my spin on it.
