Summary by Moomoo AI
Jet.AI Inc. (Jet.AI), a Delaware-based aviation services company, filed an amended annual report for the fiscal year ended December 31, 2023. The company reported revenues of $12,214,556, a decrease from the previous year's $21,862,728. The cost of revenues was $12,393,089, resulting in a gross loss of $178,533. Operating expenses totaled $12,331,912, leading to an operating loss of $12,510,445. The net loss for the year was $12,616,408, with a basic and diluted net loss per share of $2.00. The company's financial position included total assets of $5,739,188 and total liabilities of $9,675,227. Jet.AI's business development included a leasing arrangement for an aircraft, a Share Purchase Agreement with GEM for up to $40 million in common stock, and a Forward Purchase Agreement with Meteora Capital Partners. The company's future plans involve funding operations through existing financing arrangements and potential equity or debt financing. Jet.AI's strategy includes managing aircraft for owners, selling fractional and whole interests in aircraft, and operating a proprietary booking platform for private jet travel.