Replies to post #14988 on Baltia Air Lines Inc. (fka BLTA)

[mysterymeat]

"ten complaints or one investor action to the SEC would sink this thing." Not necessarily.

By now, there have been more than 10 complaints filed.

Granted things may be different now, but a few years ago, I asked the folks in the SEC's complaint DEPT, how they processed complaints.

I was told:

First they'll look to see if there are any other complaints of the same nature as yours, and what their status is.

If yours is basically the same, it gets added to them, without any new action being taken.

If yours is brand new or completely different from the others, it gets forwarded to a reginal district.

There one of the agents will look to see if it has any merit.

If deemed worthy, that agent forwards it to his district manager.

If he agrees with the agent's findings, it gets sent back to the main office.

Where another panel of agents will look it over once more.

If they agree with the district manager's findings, they'll send it back to him.

The district manager assigns it to one of his agents to start the proceedings.