| Baltia Air Lines | |||
| Proposed Ticker: | BALT | East Wing Building #51 Iceland Air Terminal JFK International Airport | |
| Exchange: | NASDAQ-Small Cap Market | Jamaica, NY 11430 | |
| Industry: | Transportation (SIC Code 4512) | (718) 553-6636 | |
| Type of Shares: | Common Shares | Filing Date: | 10/8/97 | |
| U.S. Shares Filed: | 1,000,000 | Filing Price: | $6.13 | |
| Non-U.S. Shares Filed: | 0 | Offering Amount: | $6,125,000 | |
| Primary Shares: | 1,000,000 | Expenses: | $235,000 | |
| Secondary Shares: | 0 | Shares Out After: | 5,885,000 |
| Manager | Tier | Phone |
| Global Equities Group, Inc. | Lead Manager | |
| Suncoast Capital Corp. | Co-manager |
| Issuer's Law Firm: | General Counsel |
| Bank's Law Firm: | Mound, Cotton & Wollan |
| Auditor: | Lupo, J.R. |
| Registrar/Transfer Agent: | Continental Stock Transfer & Trust Co |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 6/30/97 | 6/30/97 | 6/30/97 | ||
| Revenue: | $0.00 | $0.00 | $0.00 | Assets: | $0.40 |
| Net Income: | -$0.24 | -$0.04 | -$0.12 | Curr Assets: | $0.40 |
| EPS: | -$0.05 | $0.00 | -$0.03 | Liabilities: | $0.84 |
| Prior EPS: | -$0.20 | -$0.87 | -$0.05 | Curr Liabilities: | $0.84 |
| Cash Flow/Oper: | -$0.13 | -$2.63 | $0.06 | Equity: | -$0.44 |
| Cash Flow/Fin: | $0.13 | $0.00 | $0.00 | Cash: | $0.01 |
| Cash Flow/Inv: | $0.00 | $0.00 | Working Cap: | -$0.44 | |
| Business Description |
| The company will provide full service commercial, passenger, cargo and mail transportation between New York City and the former Soviet Union. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to pay liabilities, for commencement of scheduled nonstop service on the JFK-St. Petersburg route, including costs for aircraft deposit, spare parts/ground equipment, office equipment, office facilities, compensation, contract services, marketing, consultants, mini-evacuation tests and reserve working capital. |
| Additional Underwriter Compensation |
| Warrant to purchase 100,000 shares/units at $10.00 per share/unit. |