Baltia Air Lines Inc. (fka BLTA)

[mysterymeat]

Tony provided the Proof that the Purchase Deposit was not returned in the 8k that was filed 11/29/2017. If it had been returned it would have been included in the 8k somewhere before or after Baltia's admission of failure.

Item 1.02 Termination of a Material Definitive Agreement

On August 30, 2017, Baltia Air Lines, Inc. dba USGlobal Airways (the “Company”) entered into a stock purchase agreement (the “Agreement”) with AerLine Holdings Inc. (“AerLine”) for the purchase of all of the issued and outstanding shares of capital stock of Songbird Airways, Inc. (“Songbird”), a wholly owned subsidiary of AerLine, for an aggregate purchase price of $6,500,000 (the “Acquisition”) to be paid in cash, plus any amounts related to certain pre-paid assets of Songbird. The Acquisition was scheduled to close no later than October 31, 2017. In connection with the Agreement, the Company made a good-faith deposit of $1,000,000 with a third party escrow agent, which funds were released to AerLine on September 1, 2017.

The Company received a letter, dated November 22, 2017, from AerLine terminating the Agreement as a result of the Company’s failure to proceed with the closing as scheduled.

https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12406444