Replies to post #86052 on Baltia Air Lines Inc. (fka BLTA)

[Baltia Bull]

The letter of intent to lease a plane I think was signed in December, correct me if I am wrong. They had plenty of time from Dec to May to secure the lease and show off the plane at the meeting which would have been great to see in the hanger. I am sure most investors perceived the plane would be there for the meeting, after all why hold the meeting in a hanger, I personally have not read in print anything that shows me progress to lead me to believe the plane will be there July 31. I also remember reading a post that they would take delivery in April. Didn't happen. So yes I am sure they are working on it but working on it and it actually happening are two different things. It's 5 weeks away or 6 months from the intial letter of intent, why is it taking so long. Very interested to see their plan to come up with the 24 month up front payment. Let's see what happens..

[Tiresias]

you said...

"you fail to mention Baltia/USGlobal"

has no debt to bring to the table of
lenders who want to make money

what happened to the debt Baltia had? Does it just vanish and walked away from? Sure they have debt. The lease they signed under the name of Baltia is a debt. The office rent is a debt, salaries are a debt. Any costs incurred in the absence of revenue to pay for them is a debt, the money raised, referring to the $720K is a debt. Of course the banks are aware of risk but here you have a case of history (they simply cannot walk away from Baltia in terms of the story since Tony was there and was part of that legacy of incompetence). The leases are in Baltias name, and of course will be converted but Baltia simply does not vanish upon the name change becoming legal and the trading symbol changes. And if this is such a great deal, go to the likes of the Buffets of the world or Shark Tank. An airline on Shark Tank would be a great way to attract attention to the company.