Baltia Air Lines 10-Q 19 Aug 14 2014 Q2 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 23, 2014
Document And Entity Information	'	'
Entity Registrant Name	'BALTIA AIR LINES INC	'
Entity Central Index Key	'0000869187	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Entity Well-known Seasoned Issuer	'No	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	4,290,049,564
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

BALANCE_SHEETS

BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
Current assets	'	'
Cash	$301,229	$11,549
Total current assets	301,229	11,549
Property and equipment, net	2,237,972	1,794,486
Other assets:	'	'
Security deposit and other	318,683	317,293
Total assets	2,857,884	2,123,328
Current liabilities	'	'
Accounts payable and accrued expenses	1,694,930	621,208
Accrued interest	370,875	319,125
Deposits on common stock purchases	379,000	'
Total current liabilities	2,444,805	940,333
Noncurrent liabilities	'	'
Long-term debt, net of discount	1,150,000	1,150,000
Long-term accounts payables and accrued expenses	335,523	335,523
Total noncurrent liabilities	1,485,523	1,485,523
Total liabilities	3,930,328	2,425,856
Stockholders' equity (deficit)	'	'
Preferred stock, $0.01 par value; 2,000,000 shares authorized, 66,500 issued and outstanding	665	665
Common stock, $.0001 par value; 4,486,000,000 shares authorized, 4,187,649,564 and 3,296,126,988 issued and outstanding at June 30, 2014 and December 31, 2013, respectively	418,765	329,612
Additional paid-in capital	99,764,702	94,507,702
Deficit accumulated during development stage	-101,256,576	-95,140,507
Total stockholders' equity (deficit)	-1,072,444	-302,528
Total liabilities and stockholders' equity (deficit)	$2,857,884	$2,123,328

BALANCE_SHEETS_Parenthetical

BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Stockholders' equity (deficit)	'	'
Preferred stock par value	$0.01	$0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	66,500	66,500
Preferred stock, shares outstanding	66,500	66,500
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	4,486,000,000	4,486,000,000
Common stock, shares issued	4,187,649,564	3,296,126,988
Common stock, shares outstanding	4,187,649,564	3,296,126,988

STATEMENT_OF_OPERATIONS_Unaudi

STATEMENT OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		6 Months Ended		298 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
Statement Of Operations	'	'	'	'	'
Revenue	'	'	'	'	'
Costs and Expenses	'	'	'	'	'
General and administrative	2,919,700	1,025,160	5,272,848	3,310,663	91,958,260
FAA certification costs	462,321	144,995	758,506	335,512	4,719,687
Training	'	'	'	'	225,637
Depreciation	13,973	8,480	27,952	4,359	414,380
Other	'	'	'	'	568,245
Interest	30,868	26,696	56,763	53,392	1,740,166
Loss on sale of assets	'	'	'	'	1,607,183
Total costs and expenses	3,426,862	1,201,210	6,116,069	3,708,047	101,233,558
Net loss before income taxes	-3,426,862	-1,201,210	-6,116,069	-3,708,047	-101,233,558
Provision for income taxes	'	'	'	'	23,018
Deficit accumulated during development stage	($3,426,862)	($1,201,210)	($6,116,069)	($3,708,047)	($101,256,576)
Net loss per weighted share, basic and fully diluted	$0	$0	$0	$0	'
Weighted average number of common shares outstanding, basic and fully diluted	3,857,444,292	2,696,620,017	3,664,824,821	2,696,620,017	'

Statement_of_Shareholders_Equi

Statement of Shareholders Equity (USD $)	Preferred Stock	Common Stock	Additional Paid-in Capital	Deficit Accumulated During Development Stage	Total
Beginning balance, Amount at Dec. 31, 2009	$665	$74,358	$32,102,591	($30,178,413)	$1,999,201
Beginning balance, Shares at Dec. 31, 2009	66,500	743,580,039	'	'	'
Stock issued and issuable for cash, Amount	'	11,578	4,365,876	'	4,377,454
Stock issued and issuable for cash, Shares	'	115,776,464	'	'	'
Shares issued for services, Amount	'	25,266	14,984,584	'	15,009,850
Shares issued for services, Shares	'	252,658,491	'	'	'
Fair value of options issued as loan incentive	'	'	92,745	'	92,745
Stock issued as loan incentive, Amount	'	680	201,552	'	202,232
Stock issued as loan incentive, Shares	'	6,800,000	'	'	'
Net loss	'	'	'	-19,394,527	-19,394,527
Ending balance, Amount at Dec. 31, 2010	66,500	1,118,814,994	'	'	'
Ending balance, Shares at Dec. 31, 2010	665	111,881	51,747,348	-49,572,940	2,286,954
Stock issued and issuable for cash, Amount	'	24,137	7,783,105	'	7,807,242
Stock issued and issuable for cash, Shares	'	241,369,947	'	'	'
Shares issued for services, Amount	'	35,786	17,403,106	'	17,438,892
Shares issued for services, Shares	'	357,846,441	'	'	'
Net loss	'	'	'	-25,075,498	-25,075,498
Ending balance, Amount at Dec. 31, 2011	66,500	1,718,031,382	'	'	'
Ending balance, Shares at Dec. 31, 2011	665	171,804	76,933,559	-74,648,438	2,457,590
Prior period adjustment, Amount	'	14,798	-14,798	'	'
Prior period adjustment, Shares	'	147,987,304	'	'	'
Stock issued and issuable for cash, Amount	'	27,127	3,599,755	'	3,626,882
Stock issued and issuable for cash, Shares	'	271,270,882	'	'	'
Shares issued for services, Amount	'	32,925	7,653,663	'	7,686,588
Shares issued for services, Shares	'	329,248,482	'	'	'
Net loss	'	'	'	-13,623,873	-13,623,873
Ending balance, Amount at Dec. 31, 2012	66,500	2,466,538,050	'	'	'
Ending balance, Shares at Dec. 31, 2012	665	246,654	88,172,179	-88,272,311	147,187
Stock issued and issuable for cash, Amount	'	70,162	4,062,352	'	4,132,514
Stock issued and issuable for cash, Shares	'	701,621,438	'	'	'
Shares issued for services, Amount	'	12,796	2,273,171	'	2,285,967
Shares issued for services, Shares	'	127,967,500	'	'	'
Net loss	'	'	'	-6,868,196	-6,868,196
Ending balance, Amount at Dec. 31, 2013	66,500	3,296,126,988	'	'	-302,528
Ending balance, Shares at Dec. 31, 2013	665	329,612	94,507,702	-95,140,507	-302,528
Stock issued and issuable for cash, Amount	'	78,903	3,867,097	'	3,946,000
Stock issued and issuable for cash, Shares	'	789,032,326	'	'	'
Shares issued for services, Amount	'	10,799	1,449,753	'	1,460,552
Shares issued for services, Shares	'	107,990,250	'	'	'
Shares cancelled, Amount	'	-550	-59,850	'	-60,400
Shares cancelled, Shares	'	-5,500,000	'	'	'
Net loss	'	'	'	-6,116,069	-6,116,069
Ending balance, Amount at Jun. 30, 2014	$665	$418,765	$99,764,702	($101,256,576)	($1,072,444)
Ending balance, Shares at Jun. 30, 2014	66,500	4,187,649,564	'	'	-1,072,444

STATEMENTS_OF_CASH_FLOWS_Unaud

STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	6 Months Ended		298 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
Cash flows from operations	'	'	'
Deficit accumulated during development stage	($6,116,069)	($3,708,047)	($101,256,576)
Adjustment to reconcile deficit accumlated during development stage to cash used in opeating activities:	'	'	'
Depreciation and amortization	27,952	4,359	414,380
Amortization of loan discount	'	'	294,977
Expenses paid issuance of common stock and options	1,400,152	1,528,290	60,835,861
Loss on sale of assets	'	'	1,607,183
Changes in operating assets and liabilities:	'	'	'
Prepaid expenses	'	'	400,301
Accounts payable and accrued expenses	1,125,472	-22,950	5,552,811
Net cash used in operating activities	-3,562,493	-2,198,348	-32,151,063
Cash flows from investing activities	'	'	'
Purchase of equipment	-471,437	-5,000	-4,341,083
Proceeds from sale of assets	'	'	144,164
Security deposits	-1,390	'	-318,683
Net cash used by investing activities	-472,827	-5,000	-4,515,602
Cash flows from financing activities	'	'	'
Proceeds from issuance of common stock	3,946,000	2,171,874	34,994,375
Cash overdraft	'	19,148	'
Deposits on common stock purchases	379,000	'	379,000
Proceeds from issuance of preferred stock	'	'	2,753
Loans from related parties	'	'	1,351,573
Repayment of related party loans	'	'	-368,890
Principal payments on long-term debt	'	'	1,109,183
Acquisition of treasury stock	'	'	-500,100
Net cash provided by financing activities	4,325,000	2,191,022	36,967,894
Net increase (decrease) in cash	289,680	-12,326	301,229
Cash, beginning of period	11,549	12,326	'
Cash, end of period	301,229	'	301,229
Supplemental cash flow disclosures:	'	'	'
Cash paid during the year for interest	$5,000	'	'

Basis_of_Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2014
Notes to Financial Statements	'
Basis of Presentation	'
	The Financial Statements presented herein have been prepared by us in accordance with the accounting policies described in our December 31, 2013 Annual Report on Form 10-K and should be read in conjunction with the notes to financial statements which appear in that report.
	The preparation of these financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate our estimates, including those related to intangible assets, income taxes, insurance obligations and contingencies and litigation. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other resources. Actual results may differ from these estimates under different assumptions or conditions.
	In the opinion of management, the information furnished in this Form 10-Q reflects all adjustments necessary for a fair statement of the financial position and results of operations and cash flows as of and for the six month periods ended June 30, 2014 and 2013. All such adjustments are of a normal recurring nature. The Financial Statements have been prepared in accordance with the instructions to Form 10-Q and therefore do not include some information and notes necessary to conform to annual reporting requirements
	The financial statements have been presented in a “"development stage"” format. Since inception, our primary activities have been raising of capital, obtaining financing and obtaining FAA Certification from the U.S. Department of Transportation. We have not commenced our principal revenue producing activities. There is no assurance the Company will commence operation in the future or that those operations will be profitable.

EarningsLoss_Per_Share

Earnings/Loss Per Share	6 Months Ended
	Jun. 30, 2014
Notes to Financial Statements	'
Earnings/Loss Per Share	'
	Net loss per share is computed by dividing income available to common shareholders (the numerator) by the weighted-average number of common shares outstanding (the denominator) for the period. Diluted earnings per share assumes that any dilutive convertible securities outstanding were converted, with related preferred stock dividend requirements and outstanding common shares adjusted accordingly. It also assumes that outstanding common shares were increased by shares issuable upon exercise of those stock options for which market price exceeds the exercise price, less shares which could have been purchased by us with the related proceeds. In periods of losses, diluted loss per share is computed on the same basis as basic loss per share as the inclusion of any other potential shares outstanding would be anti-dilutive. Due to the net losses reported dilutive common equivalent shares were excluded from the computation of diluted loss per share, as inclusion would be anti-dilutive for the periods presented. At June 30, 2014, there are no outstanding common stock equivalents.

Stockholders_Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2014
Notes to Financial Statements	'
Stockholders' Equity	'
	Stock Issued for Services
	During the Six Months Ended June 30, 2014, we issued 102,490,250 shares of our common stock in exchange for services. The shares were valued at $1,400,152 approximately $.013 per share and reflected the share market value at the time of issuance. The shares are not registered and are subject to restrictions as to transferability.
	Stock Issued for Cash
	During the Six Months Ended June 30, 2014, we issued 789,032,326 shares of our common stock in exchange for cash. The shares sold for cash were subscribed at $3,946,000 approximately $0.005 weighted average per share.

Note_Payable

Note Payable	6 Months Ended
	Jun. 30, 2014
Notes to Financial Statements	'
Note Payable	'
	On March 31, 2013 the note payable to Eastern Construction & Electric, Inc. was modified as to the repayment of the note. The repayment was modified to read "Company will repay the principal amount of $1,150,000 to lender on or before the second anniversary of the date upon which the company commences its revenue flight operations. The Company will pay accrued interest to date on or before the first anniversary of the date upon which the Company commences its revenue flight operations." All other terms of the agreement remain the same.
	Interest accrued to June 30, 2014 is $379,000.

Stockholders_Equity_Details_Na

Stockholders' Equity (Details Narrative) (USD $)	6 Months Ended
	Jun. 30, 2014
Stockholders Equity Details Narrative	'
Shares issued for services, Shares	102,490,250
Shares issued for services, Amount	$1,400,152
Shares price, per share value	$0.01
Stock issued for cash, Shares	789,032,326
Stock issued for cash, Amount	$3,946,000
Weighted average per share	$0.01

Note_Payable_Details_Narrative

Note Payable (Details Narrative) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Note Payable Details Narrative	'	'
Long-term debt, net of discount	$1,150,000	$1,150,000
Accrued interest	$379,000	'