BALTIA AIR LINES, INC. (OTCMKTS:BLTA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers
Appointment of Ambassador Ned L. Siegel as Director
On June 19, 2017, the Board of Directors (the Board) of the
Baltia Air Lines, Inc. dba USGlobal Airways (the Company)
appointed Ambassador Ned L. Siegel as a director of the Company.
Ambassador Siegel, 65, has had a long and distinguished career as
a senior U.S. government official and over 30 years of business
experience. He was appointed by then President George W. Bush as
the U.S. Ambassador to the Commonwealth of the Bahamas from
October 2007 to January 2009. He was also appointed by President
Bush to serve under Ambassador John R. Bolton at the United
Nations in New York, serving as the Senior Advisor to the U.S.
Mission and as the U.S. representative to the 61st Session of the
United Nations General Assembly. Prior to his ambassadorship,
from 2003 to 2007, Mr. Siegel was appointed to the Board of
Directors of the Overseas Private Investment Corporation (OPIC).
Since 2009, Ambassador Siegel has served as Chairman of the board
and President of The Siegel Group, a multi-disciplined
international business management advisory firm specializing in
infrastructure, real estate, ports, energy, technology, financial
and cyber security services. Ambassador Siegel serves on several
public company boards including as the Chairman of the board of
Notis Global, Inc. (OTC Pink: NGBL), a company specializing in
the hemp and marijuana industry; as director of Positive ID
Corporation (OTCQB: PSID), a life sciences tools and diagnostics
company that develops and markets advanced biological detection
and molecular diagnostic systems; as director of
HealthWarehouse.com, Inc. (OTC Pink: HEWA), a retail mail-order
pharmacy. In addition, Ambassador Siegel is the Chairman of the
board of Viscount Systems, a manufacturer of physical access
control systems and telephone entry products, which protect
buildings from unauthorized access. Ambassador Siegel also serves
on various advisory boards, including that of Cardplatforms, a
South Florida-based prepaid card and prepaid support services
company, Secure Strategy Group, a boutique banking and advisory
firm that backs emerging growth technology companies in the
security, IT and communications sections, and TBG Holdings Corp.,
a financial consulting firm that works with public and private
accounting companies. Ambassador Siegel graduated Phi Beta Kappa
from the University of Connecticut and received a Juris Doctor
from the Dickinson School of Law in 1976. He received an honorary
degree of Doctor of Business Administration from the University
of South Carolina in December of 2014.
No family relationships exist between Mr. Siegel and any of the
Companys other executive officers or directors. There are no
arrangements between Mr. Siegel and any other person to which Mr.
Siegel was nominated as Director. There are no transactions to
which the Company is or was a participant and in which Mr. Siegel
has a material interest subject to disclosure under Item 404(a)
of Regulation S-K. Mr. Siegel is not a party to any material plan
or arrangement in connection with his appointment as Director.
Item 5.03 Amendments to Articles of Incorporation or
Bylaws; Change in Fiscal Year
On June 19, 2017, the Board approved an amendment to Article VI
Section 2 of the Companys Bylaws (the Amendment) to increase the
size of the Board from four directors to up to nine. A copy of
the Amendment is attached hereto as Exhibit 3.1 and is
incorporated herein by reference.
Item 9.01. Exhibits
|3.1||Amendment to Bylaws|
BALTIA AIR LINES INC ExhibitEX-3.1 2 s106665_3-1.htm EXHIBIT 3.1 Exhibit 3.1 AMENDMENT TO THE BYLAWS OF BALTIA AIR LINES,…To view the full exhibit click
here About BALTIA AIR LINES, INC. (OTCMKTS:BLTA)
Baltia Air Lines, Inc. (Baltia) is a development-stage company. The Company provides scheduled air transportation from the United States to Russia, the Baltic States and the Ukraine. Baltia is in Phase III of the FAA Air Carrier Certification. The Company has two trademarks: Baltia and Voyager Class. Baltia intends to commence scheduled non-stop service from its Base of Operations at Terminal 4, JFK Int’l Airport in New York to Pulkovo II Int’l Airport of St. Petersburg. The Company intends to provide nonstop passenger, cargo and mail service from JFK to St. Petersburg and from JFK to Riga, with online service to Minsk, Kiev and Tbilisi, as well as back up service to Moscow. It intends to operate as a Part 121 carrier, a heavy jet operator. Baltia intends to start the JFK-St. Petersburg service with one round-trip flight per week, then increase the frequency to over three round trips, and then to approximately five round trips.