NEWBURGH – Baltia Air Lines, doing business as US Global Air Lines, may have had its ability to sell stock revoked by the Securities and Exchange Commission, but on Tuesday, the company indicated it is not giving up on its effort to become a certified carrier and provide passenger service from Stewart International Airport at Newburgh.
The SEC pulled the plug on the airline wannabe’s stock offerings because it has failed to file required reports since the first quarter of 2016.
In a statement posted on the airline’s website on Tuesday, the company said, “Over the past many months, the company has been unable to complete its audited financial statements and therefore file its periodic reports with the SEC. The SEC’s filing requirement is very strict and matter of fact.”
The airline went on to say that it “decided that the better course, rather than trying to defend a defenseless proceeding with the SEC, would be to use those funds to concentrate on the company’s filings.”
It said that “While the deregistration is not enviable, once the company is able to complete its financial statements, the company believes it will be able to have caught up in its filings even quicker than before the deregistration.”
