When the meeting of all the big investors was called together to determine which group would fund how much and when, were you there?
I was the guy representing about a dozen individual investors who combined have over 350 million shares. I committed my group to funding up to another half million dollars later this summer when Baltia enters Phase III.
Which group did you represent? I don't remember seeing you there.
Let me give you a rough breakdown of the ownership of BLTA shares:
About 45 to 50% of the shares are owned by Baltia Management, employees, and/or board members. About another 30 to 35% of the shares are owned by "big" investors - guys with over 100 million shares, who, in your terms, can be considered "millionaires" because at .0156, their BLTA portfolio alone is worth over 1.5 million dollars.
The remaining 20 to 25% of the shares are owned by a thousand or so investors who have purchased shares either through Private Placement or from the stock market over the years.
(A couple of facts: Over 2% of American households make more than $200,000 per year, and over 4% of American households are considered "millionaires". Pretty much, if your household earns over $200,000 per year on a steady basis, you are considered a "millionaire". In some cases, just the net value of your house alone can put you into the "millionaire" category. In today's day and age, being considered a "millionaire" doesn't mean as much as it did say 30 years ago).
Again, I ask the question: Which group did you represent at the last meeting of the "big" investors?.....because you seem so certain that you know for absolute surety how PP purchases are being made, and I for one don't remember you being a part of that 3 hour meeting.
BTW....Luis Bolanos PURCHASED 30 million shares at 1 penny each....above market vakue at that time....and his dollars went towards paying for some of Baltia's current expenses. Those shares were not a gift, nor were they a payment of interest. When Baltia succeeds, it is this guy more than anyone else whose financial commitment will have made that a reality. Luis is also very rightfully creditted with enabling Baltia to purchase N706BL).
EOD (End Of Discussion)
In response to Taxguy:
I am sure that you realize that ALL companies that sell Private Placement shares sell them at a discount off the market value. That is the incentive to buy those shares, which are typically restricted from being sold on the market for some extended period of time. I know I would not have even considered purchasing PP if I didn't receive some kind of a discount - and it is the dollars generated from PP that go directly into Baltia's bank account and that pay Baltia expenses - not the shares sold on the open market. Open market purchases only set the pps that determines how much PP shares will sell for.
You can figure that PP sells for about 1/2 to 3/4ths of the current market price, depending upon the market "desireability" of those shares.
I'm sure you also realize that, when I said the big boys were going to buy shares at market price, I was clearly talking about the FUTURE purchases - the past is the past and that cannot be changed. Clearly in the past no one was foolish enough to buy PP at market value!
BTW........if you want to belly up with at least $10,000 right now, YOU can probably get PP at half the market value! You see.....it is the big investors who agreed to selflessly make future PP purchases AT the market value. These guys aren't asking you to make the same commitment, but you can sit back and enjoy the benefits of their generosity.
Further......if you are so concerned about the way management runs things and about the future dilution (because, obviously you must realize that the newly authorized shares don't dilute your value UNTIL THEY ARE ACTUALLY SOLD.....which, BTW, might not ever happen if for instance cargo during proving flights is enough to pay for expenses), then perhaps you should sell now.....before the rest of us catch on and realize what you have so clearly discovered................
AI
