Baltia Air Lines Inc. (fka BLTA)

[Firestream]

Oh.... must not have seen the 7/24/17 update from the company that explains things a bit better!! Also I would like to add that it clearly states: We are working to close this acquisition on or before September 15, 2017. Nothing states that "it will be done by that date". This is a target date that they are working towards. In business, especially the airline business, it's not always possible to guarantee an exact date!

As we have worked to fix the challenges of the past, we have also worked to move towards the future with our business plan of becoming an international passenger airline with cargo, mail and charter capabilities. Obtaining FAA carrier certification is the key to our plans, and on June 15, 2017, we entered into a non-binding letter of intent with AerLine Holdings, LLC for the exclusive right to acquire Songbird Airways, Inc. for an aggregate purchase price of $6,200,000. We made a good-faith deposit of $1,000,000 and we recently signed and submitted a formal, definitive purchase agreement to complete the acquisition. Songbird currently has FAA certification, and in addition, a lease agreement for the existing Boeing 737-400 aircraft previously operated by Songbird is currently being negotiated. We have concluded our due diligence review of Songbird and have already confirmed the current status of Songbird’s FAA and DOT certificates. Members of our executive management have had several meetings as well as continued communications with representatives from Songbird and the FAA.We are working to close this acquisition on or before September 15, 2017. This acquisition would be important because it would allow our company to initiate revenue operations immediately by utilizing the same aircraft and air carrier certificate previously operated by Songbird. It also adjusts our business plan to have an initial focus on the Caribbean Islands as well as various domestic and international charter opportunities. Our longer term goal remains a vision to serve unserved and underserved markets between the United States and prospective destinations in the EU and the Middle East, and we plan on phasing in the Boeing 767-300ER aircraft to accommodate this strategy.