Posted On: 04/15/2016 10:42:16 AM
Post# of 41414
45,000,000 Igor's BLTA Shares To Be Cancelled
BALTIA AIR LINES, INC.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2015
3. Shares of Common Stock to be canceled
After the death of the CEO/Founder in January 2016, the Company discovered that he was holding approximately 45M in common stock certificates issued in 2015 and previous fiscal years but never distributed to various service providers. For the years these certificates were originally issued, the value of the services was expensed to Operating Expenses in the Income Statement. For 2015 the Company is recording a benefit of $1,488,536 to Operating Expenses in the Income Statement. In 2016, the Company will be canceling these certificates.
F-9
https://www.sec.gov/Archives/edgar/data/86918...0k_d9c.htm
https://www.sec.gov/cgi-bin/browse-edgar?comp...getcompany
BLTA
BALTIA AIR LINES, INC.
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2015
3. Shares of Common Stock to be canceled
After the death of the CEO/Founder in January 2016, the Company discovered that he was holding approximately 45M in common stock certificates issued in 2015 and previous fiscal years but never distributed to various service providers. For the years these certificates were originally issued, the value of the services was expensed to Operating Expenses in the Income Statement. For 2015 the Company is recording a benefit of $1,488,536 to Operating Expenses in the Income Statement. In 2016, the Company will be canceling these certificates.
F-9
https://www.sec.gov/Archives/edgar/data/86918...0k_d9c.htm
https://www.sec.gov/cgi-bin/browse-edgar?comp...getcompany
BLTA
(5)
(1)
