Baltia Air Lines Inc. (fka BLTA)

[bliz82]

The price is down 70 percent since I bailed with a profit a long time ago. It was mainly a financial numbers thing for me I didn't like when they had 200 some million outstanding with nearly 430M O/S now the valuation just doesn't add up.

If you look at their initial business plan for 1 flight a week I believe their expected net profit was 1.8M. Divide that into 430M and all you get is .004 eps. Take a 5 to 10 pe and you get a .02 to .04 share price. Why would it ever pop to 25 or 50 cents or more like some think? Heck, I remember Barry telling me that we'd be trading at 2-3 bucks a share when we got approval. I sold shortly thereafter. It may someday make a run but they're going to need their 1-3-5 business plan to fully come to fruition and then some with some many more outstanding shares now.