Here are some quotes which point to be people not being sure about the quiet period and what it means.
You said…”You can still get response from the Communication Director, but nothing about the ongoing development of the Songbird deal.”
Others have said the following:
The company’s use of a 30 day blackout may seem to conflict with the promise of transparency
, but it really doesn’t
After we Passed the Scheduled Closing Date, I contacted the company on October 18, and asked this question:
Is the Songbird acquisition still Closing by October 31, 2017?
The response I received back was:
That remains USGlobal's
objective.
and another: This is straight from John Lampl this morning, per an email I sent.
To:BLTA
I am hearing rumors of a shareholders meeting coming this week? and the Songbird deal is getting pushed to the right and will not close as scheduled? Just trying to clarify rumor. Thanks Lets Fly!
Answer:
No meeting is scheduled.
The Songbird acquisition is in due diligence and the company has just passed the third quarter and is in a blackout phase.
The company will make announcements only when there is something to announce.
Kind regards.
And still another: he Company has confirmed that they are in an official "Quiet Period". This is no lack of someone's DD or a bizarre theory as some have said, because they are not familiar with the process. We should all be looking at this as great progress because it means reports have been filed with the SEC.(as of my checking the SEC filings yesterday no reports related to the impending transaction have been filed) Look up the Fair Disclosure regulation if you are not familiar. Thank you FlyUSGL2017 for your efforts yesterday. Y'all keep an eye out for the SEC reports.
And still another:USGlobal Airways might be in a " Quite Period". All reputable companies establish this to help comply with the SEC Fair Disclosure rules. I can only guess it started sometime within the last 2 weeks from my last phone call. This is a very good situation because if we are in the quite period it means the SEC reports have been filed and just waiting for the SEC to make them effective. Currently, as of yesterday, there are no SEC reports on file from BLTA regarding this transaction going forward, meaning nothing has been filed in the past week)I'm sure we will hear from the company as soon as the SEC reports are published. Just my very uneducated guess. The true beautiful quite before the sunrise.
You may be aware major corporations that do trade on the big boards do have to follow quiet/blackout periods when information is being prepared to be released into the market which could affect a material change. The feeling I get when reading reactions to this is they feel BLTA falls under the same requirements as an Apple or Boeing when it comes to this requirement. It does not. The company could have stated, with no room for interpretation: The company has now voluntarily chosen to cease speaking publicly to the upcoming disclosed deal between USGlobal and Songbird until all information is known and the final terms of the agreement provided to the market and shareholders. The word "chosen" removes any possibility it was required, and simply states the company will have something to say when they have something to say. In that way no shareholder thinks this is the final act before the curtain rises. For some it is what's perceived is more important than what is.
