LT, this reply is not to argue, but to shed some light on the issue. If you were there for the purchase, you should inform Baltia that they filled out the Form 4 incorrectly.

http://www.otcmarkets.com/edgar/GetFilingHtml...D=10028817

In Box 3 Trans Code - they mistakenly put an "A" in the box rather than what should have been a "P"

"P" would have meant purchase (whether on the open market or private purchase). "A" means something else entirely which is Grant, award or other acquisition.

This is probably the reason people began speculating as to what the A meant. They weren't wrong to do this as Baltia filled out the form incorrectly. You were there, you would know. They should fill out an amended form to clear this up and not give the "bashers" any more ammo. If they don't fill out the form correctly, how is anyone supposed to know the truth? There was no twisting, its there in black and white. It would seem anyone saying otherwise is twisting something. I'm sure that doesn't sound fair, but it is what it is. They have to fill out forms correctly.

Here:

How to Read SEC Form 4 – Transaction Code Definitions

General Transaction Codes

P – Open market or private purchase of securities
S – Open market or private sale of securities
V – Transaction voluntarily reported earlier than required
Rule 16b-3 Transaction Codes

A – Grant, award, or other acquisition
D – Sale (or disposition) back to the issuer of the securities
F – Payment of exercise price or tax liability by delivering or withholding securities
I – Discretionary transaction, which is an order to the broker to execute the transaction at the best possible price
M – Exercise of conversion of derivative security