Baltia's LACK OF ADEQUATE FUNDING is confirmed by less than $15k cash on hand at close of Q3 (9/30/2015), the loss of 706 airworthiness in December 2015 to landing gear time-outs without remediation (due to insufficient funds), inability to continue lease of JFK Bldg 151 office space (due to insufficient funds) requiring move of ASM, accompanied by weeks-long telephone outage and retreat to Terminal-4 broom closet, outstanding seven figure mechanic's lien due to Kalitta (DUE BEFORE ANY LG WORK COMMENCED), furlough of flight and cabin crews (due to insufficient funds), loss of Part 191 directors (payroll fail?), and to top it off, whales relied on to fund the preceding failed to cough up cash, resulting in -- wait for it -- insufficient funds.
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