Jet.AI Inc. Files S-1/A Amendment

TL;DR

Jet.AI (JTAI) filed an S-1/A update on 6/20/24. Financials for Q1 2024 and FY 2023 included.

AI Summary

Jet.AI Inc. filed an S-1/A amendment on June 20, 2024, detailing its business operations and financial status. The company, formerly Oxbridge Acquisition Corp., is involved in air transportation and is based in Las Vegas, NV. The filing includes financial data for periods ending March 31, 2024, and December 31, 2023, with references to preferred stock and common stock.

Why It Matters

This S-1/A filing provides updated information for investors and the public regarding Jet.AI Inc.'s financial health and business strategy, crucial for understanding its current market position and future prospects.

Risk Assessment

Risk Level: medium — The filing is an amendment to a registration statement, indicating ongoing efforts to comply with regulatory requirements and potentially raise capital, which carries inherent market and operational risks.

Key Numbers

• 2024-03-31 — Q1 2024 End Date (Financial reporting period)
• 2023-12-31 — FY 2023 End Date (Financial reporting period)

Key Players & Entities

• Jet.AI Inc. (company) — Filer
• Oxbridge Acquisition Corp. (company) — Former company name
• 20240620 (date) — Filing date
• Las Vegas, NV (location) — Business address
• 333-279385 (document_id) — SEC file number

FAQ

Key Financial Figures

• $0.0001 — 0 shares of our common stock, par value $0.0001 per share ("Common Stock"), by the sell
• $0.45 — hares of our Common Stock on Nasdaq was $0.45. We may amend or supplement this pros
• $10,000 — onic Warrant"), at an exercise price of $10,000 per share, and (c) 250,000 shares of th
• $1.5 m — eceived gross proceeds of approximately $1.5 million, not including customary placemen
• $15.0 million — itional gross proceeds of approximately $15.0 million. The Company cannot predict when or if
• $100 — rrant by paying to the Investor in cash $100 per share of Series B Preferred Stock t
• $100,000 — obligated pay to the Investor a fee of $100,000 (the "Filing Failure Fee"). At the opti

Filing Documents

• forms-1a.htm (S-1/A) — 2651KB
• ex23-1.htm (EX-23.1) — 4KB
• forms-1_001.jpg (GRAPHIC) — 7KB
• audit_001.jpg (GRAPHIC) — 7KB
• audit_002.jpg (GRAPHIC) — 10KB
• audit_003.jpg (GRAPHIC) — 18KB
• 0001493152-24-024380.txt ( ) — 8752KB
• jtai-20240331.xsd (EX-101.SCH) — 41KB
• jtai-20240331_cal.xml (EX-101.CAL) — 57KB
• jtai-20240331_def.xml (EX-101.DEF) — 212KB
• jtai-20240331_lab.xml (EX-101.LAB) — 378KB
• jtai-20240331_pre.xml (EX-101.PRE) — 290KB
• forms-1a_htm.xml (XML) — 1412KB

RISK FACTORS

RISK FACTORS 10 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS 26

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 28

BUSINESS

BUSINESS 56 DIRECTORS AND EXECUTIVE OFFICERS 67

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 73 CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS 85

USE OF PROCEEDS

USE OF PROCEEDS 91 DETERMINATION OF OFFERING PRICE 92 DIVIDEND POLICY 92 MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS 92

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 93 SELLING STOCKHOLDER 94 PLAN OF DISTRIBUTION 95

DESCRIPTION OF CAPITAL STOCK

DESCRIPTION OF CAPITAL STOCK 96 LEGAL MATTERS 100 EXPERTS 100 WHERE YOU CAN FIND MORE INFORMATION 100 INDEX TO FINANCIAL STATEMENTS F-1 2 ABOUT THIS PROSPECTUS This prospectus is part of a registration statement on Form S-1 that we filed with the Securities and Exchange Commission (the "SEC") pursuant to which the Selling Stockholder may, from time to time, offer and sell or otherwise dispose of the shares of our Common Stock covered by this prospectus. We will not receive any proceeds from the sale by the Selling Stockholder of the Securities offered by them described in this prospectus. We may also file a prospectus supplement or post-effective amendment to the registration statement of which this prospectus forms a part. The prospectus supplement or post-effective amendment may add, update or change information contained in this prospectus. If there is any inconsistency between the information in this prospectus and the applicable prospectus supplement or post-effective amendment, you should rely on the prospectus supplement or post-effective amendment, as applicable. The registration statement we filed with the SEC, of which this prospectus forms a part, includes exhibits that provide more detail of the matters discussed in this prospectus. You should read this prospectus, any post-effective amendment, and any applicable prospectus supplement and the related exhibits filed with the SEC before making your investment decision. The registration statement and the exhibits can be obtained from the SEC, as indicated under the section entitled "Where You Can Find More Information." You should rely only on the information contained in this prospectus. Neither we nor the Selling Stockholder have authorized anyone to provide you with any information or to make any representations other than those contained in this prospectus, any post-effective amendment, or any applicable prospectus supplement prepared by or on behalf of us or to which we have referr

View Full Filing

View this S-1/A filing on SEC EDGAR