| Ticker: BLTA | East Wing of the International Arrivals Building at JFK Intl Airport | |
| Exchange: NASDAQ-Small Cap Market | Jamaica, New York 11430 | |
| Industry: Transportation | (718) 553-6636 |
| Type of Shares: | Common Shares | Filing Date: | 2/23/96 | |
| U.S. Shares: | 1,500,000 | Offer Date: | 9/16/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $6.00 | |
| Primary Shares: | 1,500,000 | Offer Price: | $6.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.50 | |
| Offering Amount: | $9,000,000 | Selling: | $0.36 | |
| Expenses: | $235,000 | Reallowance: | $0.36 | |
| Shares Out After: | 5,850,000 |
| Manager | Tier | Phone |
| Patterson Travis, Inc. | Lead Manager | (212) 837-7340 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $0.00 | $0.00 | $0.00 | Assets: | $0.17 |
| Net Income: | -$0.91 | -$0.12 | -$0.30 | Liabilities: | $4.58 |
| EPS: | -$0.20 | -$0.03 | -$0.07 | Equity: | -$4.42 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company will commence the first non-stop passenger and cargo air service into St. Petersburg. The company was chosen by the U.S. Department of Transportation to provide service from JFK International airport to St. Petersburg, Russia. Baltia Air Lines, Inc., a US airline incorporated in 1989 in New York, to provide full-service commercial, passenger, cargo and mail transportation between New York City and the former Soviet Union, competed in 1990 with eleven Airlines before the US Department of Transportation for rights to fly to the former Soviet Republics. Anticipating utilization of the authorities, in 1992, the company commenced the US Federal Aviation Administration certification process, and trained 30 pilots, 38 flight attendants, 17 mechanics, and 8 dispatchers, but did not complete the process because the company did not have sufficient financing to take delivery of aircraft. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for commencement of scheduled non-stop service on the JFK-St. Petersburg route, including costs for aircraft lease or purchase deposit, spare parts/ground equipment, office facilities, compensation, contract services, marketing, consultants, mini-evacuation tests and reserve working capital. |
©1996 IPO Data Systems, Inc. - All rights reserved.