Baltia Air Lines is pleased to announce that it has secured a promissory note in the amount of $500,000 from Chicago Venture Partners. The details of the agreement will be disclosed in a forthcoming 8-K filing. Baltia Management views this as another step in the right direction.
It'll be far worse than that. 1 billion shares presumes they get all of it in a single swap at PP exchange rates. Pipes are doled out at in small tranches, in exchange for very deep discounted shares. Baltia might get the first $50k for 300 million shares. With each additional exchange the rate will get worse.
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