Baltia Air Lines Inc. (fka BLTA)

[mysterymeat]

Since the first offering only brought in $720K, I wonder if the $1,000,000.00 purchased deposit they lost, came from St George LLC exercising their Warrant to purchase $1,259,615.38 worth of shares?

The agreement offered ST George the option to buy shares @ .01. Tony and boys wanted some skin in the game, and issued 1 billion shares to themselves @ .0001, enabling ST George to exercise their warrant at the same PPS; nearly 12.6 billion shares. Is the TA still gagged?

"The Warrant provides the Lender anti-dilution ratchet provisions, including that if Company issues any security with a price less than the exercise price of the Warrant, then the exercise price of the Warrant shall be reduced to such price and the number of shares issuable upon exercise of the Warrant shall be increased to an amount equal to the number of shares which Lender could purchase at the aggregate exercise price payable immediately prior to such reduction."