Yes, filing for an extension makes no difference, but the scary part for me is that their books should be the EASIEST set of books they will EVER have.  No revenues - just have to track a few expenses.

Imagine when plane(s) start flying and ticket sales have to be accounted for?

As always, on paper it doesn't make a damn difference, but it is how it is PERCEIVED that makes all the difference in the world.

Honestly, every time I see them do this, I wonder if this is what we are in for with every aspect of Baltia Air Lines......and I wonder if N706BL will fly on time or sit idle on the tarmac for hours collecting up hundreds of thousands of dollars in FAA penalties............

Filing on time.....OR EVEN EARLY!.....would be a sign that Baltia has (FINALLY!) gotten their act together...........