Jet.AI Inc. Faces Delisting Concerns
Ticker: JTAI · Form: 8-K · Filed: May 31, 2024 · CIK: 1861622
| Field | Detail |
|---|---|
| Company | Jet.Ai INC. (JTAI) |
| Form Type | 8-K |
| Filed Date | May 31, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $11.50, $15.00, $10 million, $16.5 million |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: JTAI
TL;DR
Jet.AI Inc. might be delisted, filing an 8-K on 5/30/24.
AI Summary
Jet.AI Inc. filed an 8-K on May 30, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company was formerly known as Oxbridge Acquisition Corp. and changed its name on May 11, 2021. The filing also includes financial statements and exhibits.
Why It Matters
This filing indicates potential issues with Jet.AI Inc.'s continued listing on an exchange, which could significantly impact its stock price and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's operations and stock value.
Key Players & Entities
- Jet.AI Inc. (company) — Registrant
- Oxbridge Acquisition Corp. (company) — Former company name
- May 30, 2024 (date) — Date of earliest event reported
- May 11, 2021 (date) — Date of name change
FAQ
What specific listing rule or standard has Jet.AI Inc. failed to satisfy?
The filing does not specify the exact rule or standard that Jet.AI Inc. has failed to satisfy, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the potential consequence of failing to meet listing standards?
Failing to meet continued listing standards can lead to the delisting of the company's securities from the exchange.
When was the company formerly known as Oxbridge Acquisition Corp.?
The company was formerly known as Oxbridge Acquisition Corp. and changed its name to Jet.AI Inc. on May 11, 2021.
What is the filing date of this 8-K report?
The report was filed on May 31, 2024, with the earliest event reported being May 30, 2024.
Does this filing provide updated financial statements?
Yes, the filing indicates that financial statements and exhibits are included as part of this 8-K report.
Filing Stats: 900 words · 4 min read · ~3 pages · Grade level 11.4 · Accepted 2024-05-31 16:58:31
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share JTAI The Nasdaq Stock Mar
- $11.50 — of Common Stock at an exercise price of $11.50 per share JTAIW The Nasdaq Stock Ma
- $15.00 — of Common Stock at an exercise price of $15.00 per share JTAIZ The Nasdaq Stock Ma
- $10 million — of stockholders' equity fell below the $10 million required minimum for continued listing
- $16.5 million — onnection with the previously announced $16.5 million private placement transaction with Ioni
- $2.5 million — aintain minimum stockholders' equity of $2.5 million. The Company has been actively executin
- $1.5 million — isting GEM facility, and the receipt of $1.5 million of the $16.5 million funding under the
- $20,000 — before the Panel and pay the applicable $20,000 fee to appeal the Notice. The Notice ha
Filing Documents
- form8-k.htm (8-K) — 47KB
- 0001493152-24-022226.txt ( ) — 272KB
- jtai-20240530.xsd (EX-101.SCH) — 4KB
- jtai-20240530_def.xml (EX-101.DEF) — 27KB
- jtai-20240530_lab.xml (EX-101.LAB) — 37KB
- jtai-20240530_pre.xml (EX-101.PRE) — 25KB
- form8-k_htm.xml (XML) — 8KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. JET.AI INC. By: /s/ Michael Winston Michael Winston Executive Chairman and Interim Chief Executive Officer Date: May 31, 2024