The SEC has bigger fish to fry to be frank. If this were a company in a hot field, say marijuana, they would be more active as new players came onto the scene but the airline industry is hardly a haven of hype and fraud the way other sectors are and honestly, with limited resources and the SEC with a penchant for settlement agreements, Baltia is just a pimple on the belly of the market. The SEC is not going to throw manpower hours and funds into shutting down something that is likely going to shut itself down eventually as the story becomes old, the investors become older and eventually, like the stock, die off. Baltia has nothing in the way of funds or assets the SEC could take as part of a settlement agreement and unless someone, a whale, decides enough is enough and feel they have been hookwinked, nothing is going to happen with Baltia and the SEC. The SEC for the most part turns a very blind eye to the OTCBB stocks with Caveat Emptor being the motto on the pink sheets. They might eventually run afoul of filing regulations which would result in a 15 day halt if the SEC decided to take that route but after the halt is over the company moves to the greys which is purgatory for investors.
The company has no assets other than its retail investors faith and willingness to forgive and forget. With no plane, no route, no operations, no revenue, they have no hope. The SEC has to simply sit back and watch it die of its own volition and the money involved is peanuts compared to some. I have observed so many of these come and go over the years it becomes part of an overall trend of a larger scheme being hatched over and over again and again on investors.
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