In my opinion, the only time we can definitively know that someone is trying to grab shares on the bid by holding down the ask with heavy volume is when the bid is very strong. There are a lot of reasons why this strategy works nearly every time with decent daily volume. Only problem is that the bid isn't stronger than the ask, so I don't think anyone is holding the stock down. If this were a daily occurrence, perhaps. But remember, NOBODY makes money from Baltia if the stock goes down. It's difficult to short penny stocks, and Baltia doesn't have the liquidity for shorting properly.

If someone really wanted to hold this down, it'd be at .0001/share. I can think of several ways that a competing institution could completely destroy Baltia, it's not that difficult. But luckily, there's no one trying to drive this stock down.

Another perspective is that anyone with money will buy private placement, so they don't even have to hold down the stock because they'll be getting a massive discount.


Here's what I think is going on, and I think you'll agree with this: if someone wanted that JFK-St. Petersburg route, they would've taken it from Baltia by now. Baltia has been negotiating that route with the DOT since the 90's, if Delta wanted it, they'd have it. That's the good news. Baltia is not being sabotaged by competing air lines, because they have no competing air lines. If Delta wanted that route, they'd buy it now while Baltia's value is low compared to post-certification.