Baltia Air Lines Inc. (fka BLTA)

[flaflyersfan]

whathen;

Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds.
During the six months ended June 30, 2014 we issued
789,032,326 shares of our common stock in exchange
for cash. The shares were valued at $.005 per share
and reflected approximately 50% of the share market
value at the time of issuance. The shares are not
registered and are subject to restrictions as to
transferability
All of the above issuances were deemed to be
exempt under rule 506 of Regulation D and Section
4(2) of the Securities Act of 1933, as amended. No
advertising or general solicitation was employed in
offering the securities. The offerings and sales were
made to a limited number of persons, all of whom
were accredited investors, business associates or
executive officers of the Company, and transfer was
restricted by the Company in accordance with the
requirements of the Securities Act of 1933, as
amended. In addition to representations by the
above-referenced persons, we have made
independent determinations that all of the above-
referenced persons were accredited or sophisticated
investors, and that they were capable of analyzing the
merits and risks of their investment, and that they
understood the speculative nature of their
investment. Furthermore, all of the above-referenced
persons were provided with access to our Securities
and Exchange Commission filings.

http://www.sec.gov/Archives/edgar/data/869187/000116519514000025/2014_10Q_2c.htm

The last paragraph is BLTA attesting under Sarbanes-Oxley that everyone who bought those 789 million shares is an accredited investor (millionaire) or an officer or insider.

Good luck.