Baltia Air Lines Inc (OTCMKTS:BLTA)’s Surge Turns Red

Baltia Air Lines Inc (OTCMKTS:BLTA) had an impressive surge on May 21 and May 22, but now said ascent appears to have has passed.

Now the ticker is headed down, and it is dropping fast – but that shouldn’t really come as much of a surprise to diligent investors. After all, it’s not like the red flags surrounding BLTA are new, or hard to find.

One look at BLTA‘s OTC Markets profile makes it clear that the company has been neglecting to report on its financial standing. What little information there is on said profile page is severely outdated for one, and not reassuring at all either:

• Cash – $118 thousand
• Total current assets – $131 thousand
• Total current liabilities – $2.9 million
• NO REVENUES EVER
• Net loss – $2.8 million

But what’s even more disconcerting than the lack of reliable financial information is the evidence that the company’s share structure looks even more bleak than its balance sheets.

Some two and a half years ago, BLTA had around 3.3 BILLION outstanding shares, which is a tip-off in and of itself. A year and a half ago, that number had jumped all the way up to 5.5 BILLION. As of March 31, 2015 BLTA had 5.86 BILLION shares issued and outstanding. A little over a month later, as of May 4, 2015, that number had grown to 5.98 billion shares.

There is no evidence that the rapid-fire issuance has stopped since then, and seeing has how the company’s authorized shares were upped to 6.986 BILLION it doesn’t look like it will cease any time soon.

With all these serious warning signs in mind – let the buyer be ware.