On Friday’s trading session, the stock price of Baltia Air Lines Inc (OTCMKTS:BLTA) posted impressive gains on the chart. It opened at $0.01 and then quickly moved north to make a high of $0.0119. However, it gave away a part of gains to close at $0.0115. The gains of almost 20% came at a volume of more than 16 million shares and volume of was well above the average share volume of 11.4 million shares.
However, this week has rather been weak. In last trading session, the stock price of BLTA declined more than 19% to close the trading session at $0.00828. The decline came at a share volume of 38.48 million compared to average share volume of 11.54 million. Clearly, there is no reason to support the recent positive chart performance.
The rumors about Baltia Air Lines Inc (OTCMKTS:BLTA) mini evacuation test have been affecting the movement of the stock price for months now. It appears that the reason for recent spike was no different as the announcement date was expected to be May 5. Once again, the expectations failed due to which the stock has given a large part of its gains. Like always, the date was not confirmed resulting disappointment among investors. The last official Press release reported by Baltia Air Lines was published almost three months ago.
The company released latest information its Facebook profile. On March 26, it disclosed that external factors temporarily influenced their Mini Evacuation process. As per the latest annual report filed on April 15, 2015, Baltia Air Lines reported cash of $185,000. The total current assets were $210,000 while $3.1 came as total current liabilities. The revenue was zero and the total yearly loss came at $15.4 million. Apart from the financial performance, delay in mini evacuation test, investors should also consider devastating dilution of BLTA stock before investing.