Baltia Air Lines Inc. (fka BLTA)

[phl08]

Your "fact" is an opinion, and a misinformed one at that. There have been several posts on this board that have shown you that the SEC has, in fact, suspended after 2 years delinquency. Baltia is not the only one. And even if they were, that's immaterial. Baltia has been chronically delinquent.

Whistleblowers could very well have been shareholders who felt that the company wasn't being transparent with the financials. I know for a fact there were several current shareholders who told me they did so. Why would someone waste time complaining to the SEC about a stock they've never owned?

Whether or not Tony and company had intent to defraud is to be determined. A civil, and possibly criminal, court would be the place to determine this. Right now, it is overwhelmingly evident and proven they have repeatedly failed to file the legally mandated SEC reports and are being penalized accordingly, and in line with the law.

Thanks for the definition of order to show cause, but as of now - there is no proof or documentation that Baltia has responded to the "Order to Show Cause" [noun].

As of May 24, the SEC stated that Baltia has not responded to the suspension notice. Granted that's been about 2 weeks, so maybe someone at HQ woke up. We shall learn soon enough.

Monroe1 Member Level Tuesday, 06/12/18 05:41:53 PM
Re: phl08 post# 100900 0
Post # of 100902

Fact is fact. SEC was gung ho like never seen before. As said, it was the CEO responsibility. Business can be tough and yes, we do fall victim to problems and to others trying to self reward at the expense of others. Those WhistleBlowers could careless about the company or investors. So we disagree over the issue of intent it seems. I do not believe there was intent to defraud or scam. I believe the CEO had for all intensive purposes the making of an airline.

{In the legal system, an Order to Show Cause is a court order requiring an individual or entity to explain, justify, or prove something. In the U.S., courts frequently use orders to show cause to initiate a court proceeding that needs to be heard outside the usual schedule, such as when a temporary order is being sought. In these cases, the court needs additional information before the judge could make such a decision. To explore this concept, consider the following Order to Show Cause definition.
Definition of Order to Show Cause

Noun

An order issued by the court that a party appear in court on a specified date and time to give reasons (show cause) why an order requested by the opposing party should not be made.}