you said...
"you fail to mention Baltia/USGlobal"
has no debt to bring to the table of
lenders who want to make money
what happened to the debt Baltia had? Does it just vanish and walked away from? Sure they have debt. The lease they signed under the name of Baltia is a debt. The office rent is a debt, salaries are a debt. Any costs incurred in the absence of revenue to pay for them is a debt, the money raised, referring to the $720K is a debt. Of course the banks are aware of risk but here you have a case of history (they simply cannot walk away from Baltia in terms of the story since Tony was there and was part of that legacy of incompetence). The leases are in Baltias name, and of course will be converted but Baltia simply does not vanish upon the name change becoming legal and the trading symbol changes. And if this is such a great deal, go to the likes of the Buffets of the world or Shark Tank. An airline on Shark Tank would be a great way to attract attention to the company.
