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Baltia Air Lines Inc (OTCMKTS:BLTA) declined again on last trading session, losing 9.86% of its market value this time. It is not at all surprising to see the sharp decline in company’s share prices. In fact it is surprising that still they are trading well above the double zeros.

The financials

Recently, Baltia Air Lines sold 1.4 billion common shares at a price of $0.005 to support its operations. The latest financial report states that almost no amount is left of that money. As per the last report, the company posted cash and total current assets amounting to $29,000. The total current liabilities came at $2.7 million. It reported zero revenue and net loss was $5.4 million. Seeing the financial figures, it won’t be wrong to conclude that the company is trading well above its justified level.

The disappointments

The financial numbers doesn’t appear to be of a successful aviation company. In fact they look like the financial numbers of another OTC market penny stock that just sell pipe dreams and stock. In 2014, Baltia Air Lines outstanding shares increased in leaps and bounds to 4.93 billion from 3.3 billion in just nine months. As of November, 2014 the count reached 5.2 billion. Moreover, the problem didn’t end there as of February 2015, outstanding shares count was 5.7 billion. The financials and outstanding shares count clearly indicates that at this time it is better to avoid making any investment in the company.

The press release

In first week of February, Baltia Air Lines Inc (OTCMKTS:BLTA) informed that the second class of cockpit crew members completed ground training and will now commence simulator training. With the new group, which covers the crew members who finished the first class, the company would almost double its cockpit crews.

In last trading session, BLTA stock prices declined 9.86% to close at $0.0130.

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Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg, Equities.com, Hacked.com, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.

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