Mogul and USGL Investor - if you want to keep hopi
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Posted On: 06/21/2018 12:07:29 PM
Re: USGL investor #40664
Mogul and USGL Investor - if you want to keep hoping, nobody's going to stop you.
But we will call BS on your claims that are made to sound factual, but have no basis or any kind of link/document to back it up.
To make the statement that there is "plenty going on, they are very busy" would require some kind of published info to show us that. Since the Songbird deal fell through, we really have no idea what's been going on to be able to make such a statement.
Instead, I can show you public statements they have made (or lack of) that show they are *NOT* very busy. They stated (on the web site front page) on May 9 that they were fully cooperating with the SEC to resolve the suspension. But then on May 24, the SEC said they did not receive a response from BLTA. On June 15, the SEC stated they still received no response from BLTA to show cause as to why they were so delinquent with legally mandated financial records. Then on June 19 the company said (on their web site) that they decided not to defend themselves.
It is a fact that the USGL offices, leased from Atlantic Aviation, have been unused. One of you said that's a lie, and the other said they can telework and don't need to show up until the airline is operational. That's plausible, but....
Several people from the area have gone there and seen with their own eyes. I tried calling the USGL number and it was DISCONNECTED. I called the Atlantic Aviation reception and the woman said they are not there. Heresay? Ok. I could be lying. But several people have corroborated this.
It is a fact that the company is letting the revocation to proceed. This is stated clearly on the front of the USGL web page.
The Company decided that the better course, rather than trying to defend a defenseless proceeding with the SEC, would be to use those funds to concentrate on the Company’s filings. While the deregistration in not enviable, once the Company is able to complete its financial statements, the Company believes it will be able to have caught up in its filings even quicker than before the deregistration.
That will effectively make the company private again. Nobody said the company was going chapter 11. Many of us have been saying for quite some time that the company would have it's registration revoked for non-compliance in the financial audit filings. What they do with a shell of a company with no assets and no financial reports is anyone's guess. But if they couldn't raise financing up to this point, what makes anyone think it will be easier for them get financing as a private company that has been revoked from the stock market?
It is a fact that the company outright lied about the completed financials. November 30, 2017 - they were said to be complete and would be released "soon". These were Tony's words(not hearsay) in the shareholder letter he signed. June 19, 2018 - the company web site front page states: Over the past many months, the Company has been unable to complete its audited financial statements and therefore file its periodic reports with the SEC.
Please spare us your one line retorts that this is all lies and hearsay. It's all factual, backed up with real observations and company statements.
But we will call BS on your claims that are made to sound factual, but have no basis or any kind of link/document to back it up.
To make the statement that there is "plenty going on, they are very busy" would require some kind of published info to show us that. Since the Songbird deal fell through, we really have no idea what's been going on to be able to make such a statement.
Instead, I can show you public statements they have made (or lack of) that show they are *NOT* very busy. They stated (on the web site front page) on May 9 that they were fully cooperating with the SEC to resolve the suspension. But then on May 24, the SEC said they did not receive a response from BLTA. On June 15, the SEC stated they still received no response from BLTA to show cause as to why they were so delinquent with legally mandated financial records. Then on June 19 the company said (on their web site) that they decided not to defend themselves.
It is a fact that the USGL offices, leased from Atlantic Aviation, have been unused. One of you said that's a lie, and the other said they can telework and don't need to show up until the airline is operational. That's plausible, but....
Several people from the area have gone there and seen with their own eyes. I tried calling the USGL number and it was DISCONNECTED. I called the Atlantic Aviation reception and the woman said they are not there. Heresay? Ok. I could be lying. But several people have corroborated this.
It is a fact that the company is letting the revocation to proceed. This is stated clearly on the front of the USGL web page.
The Company decided that the better course, rather than trying to defend a defenseless proceeding with the SEC, would be to use those funds to concentrate on the Company’s filings. While the deregistration in not enviable, once the Company is able to complete its financial statements, the Company believes it will be able to have caught up in its filings even quicker than before the deregistration.
That will effectively make the company private again. Nobody said the company was going chapter 11. Many of us have been saying for quite some time that the company would have it's registration revoked for non-compliance in the financial audit filings. What they do with a shell of a company with no assets and no financial reports is anyone's guess. But if they couldn't raise financing up to this point, what makes anyone think it will be easier for them get financing as a private company that has been revoked from the stock market?
It is a fact that the company outright lied about the completed financials. November 30, 2017 - they were said to be complete and would be released "soon". These were Tony's words(not hearsay) in the shareholder letter he signed. June 19, 2018 - the company web site front page states: Over the past many months, the Company has been unable to complete its audited financial statements and therefore file its periodic reports with the SEC.
Please spare us your one line retorts that this is all lies and hearsay. It's all factual, backed up with real observations and company statements.
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(1)Baltia Air Lines Inc (BLTA) Stock Research Links
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