As many of you may already know, I was recently active in an attempt to bring a small group of the top 10 investors (whom I called "The Whales") together at Cargo Building 151 at JFK in order to discuss and hammer out a variety of details regarding the final steps before certification.
Of primary concern was the raising of about 1.8 million to pay all the bills that had accumulated as well as any upcoming bills prior to first flight (Remember that "D-check" thingy?) In addition, we were to discuss capping authorized shares and creating a $600 thousand reserve for Baltia to use to cover any "unforeseen" expenses (what? Unforeseen expenses? what are those?).
I have been e-mailing and phoning (and sometimes arguing - no...not me!) with guys from the east coast to Florida to the west coast and right on over to Russia (Riga) itself.
Tickets have been purchased for the February 9th meeting - which I can now (happily?) tell you has been cancelled.
Yesterday, one of the Whales (with whom I have had quite a few conversations) called to tell me that he had spent the entire day with his staff and his accountants making phone calls, and that I should cancel the meeting. His group had agreed to fund Baltia more than twice what I was hoping for from the meeting, so the meeting would be unnecessary, which now, as I sit here writing, totally disappoints me, because I was hoping to go down in history as the hero that paved the road to America's Newest Airline.
(Yeah, right..........now that thing about being disappointed....that Benny is what I call sweet sarcasm! I plan on laughing this baby all the way to the F'n bank and back......and then back again!).
This whale (whom I believe is an attorney, but I will say no more) called over to Russia and spoke with people about the approvals, called over to Kalitta and spoke with people about the heavy C check (Baltia calls it a C-4 check in their manuals, but it is the equivalent of a D-check and will come in....very fortunately....well below 1 million dollars)....and he spoke with Igor about capping the authorized shares, as well as a bunch of other things.
Look......with all the research that he did.....and with his expereince in legal matters and the fact that he is super rich and super successful and can drop 5 million like you or I buy a Starbuck's coffee - well - I have no doubt Baltia is going to fly.
Oh....BTW....he has the kick ass attitude that he isn't going to accept any more lame excuses and that he is going to get this thing finished once and for all.
I also think I heard him say his goal was to see this at twenty to fifty cents by year end, but don't quote me on that one, because by that point in the conversation the trumpets were going off so load in my head that I couldn't even see straight anymore.
I figured it out: If this group puts in 5 million now.....and the stock goes to 20 to 50 cents by year end...their investment will be worth between 100 and 250 million dollars - soooooo.....I can fully understand where he is coming from, since he has the deep enough pockets to empty his loose coin into the game.
Now....as this was one shareholder talking to another.....and as I have never met this man but only spoke with him over the phone......and as many of you don't know me and have never met me.....take it as you will and for what it is worth.
I for one hope Baltia is going to Press Release this one.....and maybe the safest thing for anyone to do is to wait to hear this from Baltia itself......but what I am telling you here is just about a conversation between 2 investors. No secrets here, and as far as you are concerned, Iam just some waco writing jibberish on a public board. (I think tha could be considered my "disclaimer").
Prudence would say wait to hear this stuff for yourself when (and IF) Baltia chooses to make it a public announcement...............
Of primary concern was the raising of about 1.8 million to pay all the bills that had accumulated as well as any upcoming bills prior to first flight (Remember that "D-check" thingy?) In addition, we were to discuss capping authorized shares and creating a $600 thousand reserve for Baltia to use to cover any "unforeseen" expenses (what? Unforeseen expenses? what are those?).
I have been e-mailing and phoning (and sometimes arguing - no...not me!) with guys from the east coast to Florida to the west coast and right on over to Russia (Riga) itself.
Tickets have been purchased for the February 9th meeting - which I can now (happily?) tell you has been cancelled.
Yesterday, one of the Whales (with whom I have had quite a few conversations) called to tell me that he had spent the entire day with his staff and his accountants making phone calls, and that I should cancel the meeting. His group had agreed to fund Baltia more than twice what I was hoping for from the meeting, so the meeting would be unnecessary, which now, as I sit here writing, totally disappoints me, because I was hoping to go down in history as the hero that paved the road to America's Newest Airline.
(Yeah, right..........now that thing about being disappointed....that Benny is what I call sweet sarcasm! I plan on laughing this baby all the way to the F'n bank and back......and then back again!).
This whale (whom I believe is an attorney, but I will say no more) called over to Russia and spoke with people about the approvals, called over to Kalitta and spoke with people about the heavy C check (Baltia calls it a C-4 check in their manuals, but it is the equivalent of a D-check and will come in....very fortunately....well below 1 million dollars)....and he spoke with Igor about capping the authorized shares, as well as a bunch of other things.
Look......with all the research that he did.....and with his expereince in legal matters and the fact that he is super rich and super successful and can drop 5 million like you or I buy a Starbuck's coffee - well - I have no doubt Baltia is going to fly.
Oh....BTW....he has the kick ass attitude that he isn't going to accept any more lame excuses and that he is going to get this thing finished once and for all.
I also think I heard him say his goal was to see this at twenty to fifty cents by year end, but don't quote me on that one, because by that point in the conversation the trumpets were going off so load in my head that I couldn't even see straight anymore.
I figured it out: If this group puts in 5 million now.....and the stock goes to 20 to 50 cents by year end...their investment will be worth between 100 and 250 million dollars - soooooo.....I can fully understand where he is coming from, since he has the deep enough pockets to empty his loose coin into the game.
Now....as this was one shareholder talking to another.....and as I have never met this man but only spoke with him over the phone......and as many of you don't know me and have never met me.....take it as you will and for what it is worth.
I for one hope Baltia is going to Press Release this one.....and maybe the safest thing for anyone to do is to wait to hear this from Baltia itself......but what I am telling you here is just about a conversation between 2 investors. No secrets here, and as far as you are concerned, Iam just some waco writing jibberish on a public board. (I think tha could be considered my "disclaimer").
Prudence would say wait to hear this stuff for yourself when (and IF) Baltia chooses to make it a public announcement...............
