Summary by Moomoo AI
On August 30, 2024, Jet.AI submitted Amendment No. 2 to its Registration Statement on Form S-1 to the SEC, addressing comments from the Division of Corporation Finance. The company removed "Filing Default Shares" as they were not obligated to issue them. Instead, Jet.AI will issue "Effectiveness Shares" to the Selling Stockholder by September 3, 2024, due to the missed Effectiveness Deadline.Jet.AI confirmed that the review of its proxy statement was completed, and the definitive proxy statement was filed on August 5, 2024. The annual stockholder meeting is scheduled for September 24, 2024, to vote on removing the "Exchange Limitation" for Series B Preferred Stock conversions. The Registration Statement can be declared effective before this meeting, allowing conversions up to the 19.99% limit.