BALTIA AIR LINES, INC. (OTCMKTS:BLTA) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders
On May 11, 2017, Baltia Air Lines, Inc. (the Company) held a
special meeting of stockholders (the Meeting) at which the
Companys stockholders voted on: (i) a proposal to amend the
Companys certificate of incorporation to change its name from
Baltia Air Lines, Inc. to USGlobal Airways, Inc., such name
change to occur at such time and date, as determined by the
Companys Board of Directors (the Board) (the Name Change
Proposal), and (ii) a proposal to amend Article III of the
Companys certificate of incorporation to effect a reverse stock
split of the Companys capital stock at a ratio of between
one-for-25 and one-for-50, with such ratio to be determined at
the sole discretion of the Board and with such reverse stock
split to be effected at such time and date, if at all, as
determined by the Board in its sole discretion (the Reverse Split
Proposal). Stockholders of record at the close of business on
April 20, 2017 were entitled to one vote for each share of common
stock and 38,461 votes for each share of Series C Convertible
Preferred Stock. On April 20, 2017, there were 9,442,175,250
shares of common stock issued and outstanding and 4,100 shares of
Series C Convertible Preferred Stock issued and outstanding.
Proposal No.1 Name Change
The voting results on the amendment to the Companys certificate
of incorporation to change its name from Baltia Air Lines, Inc.
to USGlobal Airways, Inc. were as follows:
| Votes For | % of Votes Cast | Votes Against | Abstentions |
| 3,762,591,478 | 99.1% | 28,196,626 | 7,135,851 |
Proposal No.2 Reverse Stock Split
The voting results on the amendment to the Companys certificate
of incorporation to effect a reverse stock split of the Companys
capital stock at a ratio of between one-for-25 and one-for-50
were as follows:
| Votes For | % of Votes Cast | Votes Against | Abstentions |
| 3,474,252,906 | 89.1% | 398,315,318 | 24,999,168 |
The Meeting was properly adjourned until June 9, 2017 to permit
further solicitation of votes in connection with the approval of
the Name Change Proposal and the Reverse Split Proposal.
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. BALTIA AIR LINES, INC. (OTCMKTS:BLTA) Recent Trading Information
BALTIA AIR LINES, INC. (OTCMKTS:BLTA) closed its last trading session up +0.00089 at 0.00599 with 19,558,148 shares trading hands.
