Dragni Dragnev

Baltia Air Lines Inc (OTCMKTS:BLTA) Crashes Horribly Again

by Dragni Dragnev March 27, 2015

Baltia Air Lines Inc (OTCMKTS:BLTA, BLTA message board) crashed once more in yesterday's session, losing 8.69% of its market value this time.

In BLTA's particular case, the fact that the company's share prices have fallen is not really that surprising. What is wondrous is the fact that said share prices haven't fallen all the way to double or triple zeros yet. Why?

Not too long ago, BLTA sold 1.4 billion common shares priced at $0.005 in order to fund its operations. The company's latest financial report makes it clear that almost nothing is left of that money:

  • Cash and total current assets - $29 thousand!!!
  • Total current liabilities - $2.7 million
  • NO REVENUES EVER!
  • Net loss - $5.4 million

Moreover, these don't look like the numbers of a successful aviation company. On the contrary – they look like the financials of yet another idle OTC Markets penny stock that does little more than sell pipe dreams and stock.

In fact, this seems to be the only thing that BLTA excels at. In 2014, its outstanding shares grew in leaps and bounds – from 3.3 billion to 4.93 billion in just nine months. Then as of November 17 said number grew until it reached 5.2 billion.

And, frighteningly, it doesn't end there – as of February 17 BLTA's O/S was standing at 5.7 billion.

Investors should decide on their own whether or not they want to commit to a company that has such unimpressive financials, meager achievements to date and such a horrifying history of dilution.

Comments 4

1. Guest
March 29, 2015, 08:41PM

Quotes This ship sank a long time ago. The company has repeatedly failed the FAA Phase 3 Evacuation exercise 7 times....number 8 on the way. The cost of replacing new escape slides after each failure is enormous, especially on an outdated 747-200. Just nuts.....

2. Guest
March 29, 2015, 08:32PM

Quotes Baltia Airlines has always had the opportunity to test its market by leasing aircraft under ACMI contracts. Thereby producing revenue in the route structure they have built this company on. NY JFK to St Petersburg, Russia. Why, after all these years has Baltia not pursued this option? Why have investors not been advised such an option existed? The reason lies in the person who sits at the very top. His ignorance and pure lack of knowledge in the aviation industry has been staring investors in the face or at least 5 years. Aviation has no place for ignorance. Baltia could be producing revenue today, even as it seeks FAA Certification. Perhaps the lure of investors money has blocked the CEO & President of Baltia Airlines from actually wanting to get this company in the air.

3. Guest
March 27, 2015, 07:00PM

Quotes This is nothing but pipe dreams. After all, BLTA has been doing this for how long now? Since Vietnam, no? The oldest baby airlines in the world. This baby is retarded.

4. Guest
March 27, 2015, 06:53PM

Quotes SAUVE QUI PEUT! .0121 was today's low.

The ship is definitely sinking slowly and surely.

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