Summary by Moomoo AI
On October 10, 2024, Jet.AI Inc. submitted Amendment No. 4 to its Registration Statement on Form S-1 to the SEC. This amendment addresses comments from the SEC's Division of Corporation Finance regarding the company's previous filing, Amendment No. 3, submitted on September 26, 2024.The company revised its disclosures concerning the conversion of Series B Preferred Stock into Common Stock, specifically addressing the beneficial ownership limitation. The amendment clarifies that the limitation does not prevent the Selling Stockholder from selling shares and subsequently receiving additional shares, potentially exceeding the ownership limit without holding more than the specified percentage at any time.These updates aim to ensure compliance with SEC regulations and provide clarity to investors regarding stockholder transactions.
