BLTA can't do buyback because the company doesn't have the money for a buyback. Money raise through debt or equity is needed for expenses related to maintenance and FAA Certification. There is no money for buybacks and frankly BLTA for all intended purposes is broke now.
What BLTA needs to do is a reverse split.....because with over 6 billion shares outstanding, more and more people are realizing the scam.
Now I've crunched the numbers for BLTA and I think a 1 for 50 share reverse split makes the most sense. Reason being is that with say, 6,000,000,000 shares outstanding and a closing price of .0054/share today, a hypothetical 1 for 50 reverse split would convert to.....
6,000,000,000 shares divided by 50 = 120,000,000 shares and .0054 x 50 = .271/share
So, instead of having 6,000,000,000 shares outstanding and a PPS of .0054/share, a 1 for 50 reverse split would result in 120,000,000 shares outstanding and a price of .271/share.
Although splits don't change valuations one iota, the number of shares outstanding appears more reasonable and the higher PPS that would result from the split appears better. Perceptions matter.
