JTAI

November 10, 2024

Jet.AI Inc. Announces Reverse Stock Split on Tuesday

Q2 Revenues were $3.1 million, an increase of $0.3 million compared to the same period last year

READ THE INVESTOR PRESENTATION HERE

_________________________

Hello Everyone,

We have another profile for you to research ahead of Mondays session.

Pull up JTAI right away and put it on your screen.

This one is splitting on Tuesday. We want you to be aware of that first and foremost. It is not uncommon to see some volatility post split.

Jet.AI operates in two segments, Software and Aviation, respectively. The Software segment features the B2C CharterGPT app and the B2B Jet.AI Operator platform. The CharterGPT app uses natural language processing and machine learning to improve the private jet booking experience. The Jet.AI operator platform offers a suite of stand-alone software products to enable FAA Part 135 charter providers to add revenue, maximize efficiency, and reduce environmental impact. The Aviation segment features jet aircraft share ownership, jet card, on-fleet charter, management, and buyer’s brokerage. Jet.AI is an official partner of the Las Vegas Golden Knights, 2023 NHL Stanley Cup® champions.

Jet.AI Fleet Software Solutions

CharterGPT

01. Aircraft recommendation engine.

02. Natural language customer service.

03. Predictive: Destination Airport, Departure Date, Departure Time, and Ground Transportation.

Natural Language Outreach: automates the process of confirming the accuracy and availability of aircraft quoted on Avinode by calling the private jet operator.

Payment Reconciliation: identifies and ties-out funding for each charter.

Contract Reconciliation: makes the customer-facing contract match charter operator’s contract.

The back-end functionality of CharterGPT utilizes AI to automate what is traditionally the manual processes of charter brokerage.

—–

Reroute

01. Transform a wasted empty leg into an opportunity to book a new charter by changing the destination(s).

02. Reroute searches for published empty legs by partner operators and optimizes which aircraft to utilize for the requested city pair.

03. Potential for significant cost savings for consumers and incremental margin increases for operators.

Reroute offers to increase revenue generating aircraft utilization for the 5,000+ Part 135 charter operators in the US.

—–

DynoFlight

01. Delivers certificates of offset to customers.

02. Enables aviation operators to track carbon emissions, and to transact carbon credits in small (working capital efficient) quantities.

03. High-quality credits.

DynoFlight provides a simple and credible way to offset emissions in a working capital efficient manner.

—–

Jet.AI Aviation Division: Capital Light Business Aviation

Jet.AI Aviation Division (1/5): Aircraft Sales

01. From fractional share to full aircraft sales.

02. Pre-sell and pass-through milestone payments to OEM.

03. Provide management and charter revenue offset post-delivery.

Jet.AI’s team has extensive experience with the aircraft sales process via positions at business jet manufacturers, large charter operators, and financial institutions.

Jet.AI Aviation Division (2/5): Jet Cards

01. Sell block time of flight hours up front.

02. Recognize revenue as hours are flown.

03. Jet cards available for 30 aircraft (4 Jet.AI) – HondaJet to G550.

With a wide variety of available aircraft, and interchange capability, Jet.AI can match the right asset to the right mission.

Jet.AI Aviation Division (3/5): On-Fleet Charter

01. Rent Jet.AI aircraft by the hour.

02. Collect payment pre-flight.

03. Provide charter revenue rebate to aircraft owner.

The Jet.AI fleet, composed of fuel-efficient light jets, is a popular and cost – effective solution for regional ad-hoc charter missions.

Jet.AI Aviation Division (4/5): Onboard Program

01. Bring aircraft to manage and charter.

02. One month for FAA Part 135 conformity.

03. Jet.AI sells charter and jet cards on aircraft.

Alongside their operating partner, Jet.AI provides a white glove solution to current aircraft owners.

Jet.AI Aviation Division (5/5): Buyer’s Broker

01. Agency broker for jet buyers.

02. Source, inspect and negotiate.

03. Introduce financing, run legal and close.

The company’s aircraft transaction experience coupled with their industry relationships provides for a hands-off and hassle-free acquisition process for their customers.

Jet.AI Inc. Announces Reverse Stock Split

LAS VEGAS, NV, Nov. 08, 2024 (GLOBE NEWSWIRE) — Jet.AI Inc. (Nasdaq: JTAI) (the “Company”), today announced that the Company has determined to effect a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-225. The reverse stock split is expected to take effect before markets open on Tuesday, November 12, 2024. The Company’s common stock will continue to be traded on the Nasdaq Capital Market under the symbol JTAI and will begin trading on a split-adjusted basis when the market opens on Tuesday, November 12, 2024. The new CUSIP number for the Company’s common stock following the reverse stock split will be 47714H308.

The reverse stock split is intended to enable the Company to achieve several important corporate objectives, including enabling the Company to regain compliance with the minimum bid price requirement under Nasdaq’s continued listing criteria and making additional shares of common stock available for future issuance.

At the effective time of the reverse stock split, every 225 shares of the Company’s issued and outstanding common stock will be converted automatically into one issued and outstanding share of common stock without any change in the par value per share. Stockholders holding shares through a brokerage account will have their shares automatically adjusted to reflect the 1-for-225 reverse stock split. The reverse split will not result in any change in the par value per share or the total number of authorized shares of common stock.

The reverse stock split will affect all stockholders uniformly and will not alter any stockholder’s percentage interest in the Company’s equity, except to the extent that the reverse stock split would result in a stockholder owning a fractional share. Any fractional share of a stockholder resulting from the reverse stock split will be rounded up to a whole share. Proportional adjustments will be made to the number of shares of the Company’s common stock issuable upon exercise or conversion of the Company’s equity awards, convertible preferred stock and warrants, as well as the applicable exercise or conversion price. Stockholders with shares in brokerage accounts should direct any questions concerning the reverse stock split to their broker; all other stockholders may direct questions to the Company’s transfer agent, Continental Stock Transfer & Trust.

Second Quarter 2024 Financial Results

LAS VEGAS, Aug. 14, 2024 (GLOBE NEWSWIRE) — Jet.AI (the “Company”) (Nasdaq: JTAI), an innovative private aviation and artificial intelligence (“AI”) company, today announced financial results for the second quarter ended June 30, 2024.

Second Quarter 2024 and Recent Operational Highlights

Launched DynoFlight 2.0 platform, an advanced AI web-based solution for aviation carbon management
Commenced and successfully completed exchange offer and consent solicitation relating to its outstanding warrants
Announced AI-Powered Jet Card with Empty Leg Benefit, as a result of Reroute AI
Announced non-recourse debt financing related to the proposed purchase of Bombardier Challenger 3500 aircraft
Released the National Jet Card Program which offers all categories of private jet for service within the continental U.S., guaranteed rates, guaranteed availability, and a 48-hour call out

Second Quarter 2024 Financial Results

Revenues were $3.1 million, an increase of $0.3 million compared to the same period last year. The primary reason was due to additional service revenue arising from an additional management agreement for customer aircraft and increased chartering of the Company’s Citation CJ4.

Software App and Cirrus Charter revenue, the gross amount of charters booked through CharterGPT and Cirrus, was $1.6 million, a slight increase compared to the same period last year.

Management and Other Services revenue, which is comprised of revenues generated from managing and chartering our customer aircrafts, totaled $914,000 compared to $423,000 in the same period last year.

Jet Card and Fractional Programs revenue, which is generated from the sale and use of jet cards and service revenue related to ongoing utilization by the Company’s fractional customers, totaled $559,000 compared to $811,000 in the same period last year.

Cost of revenues totaled $3.5 million compared to $3.0 million in the same period last year. The increase is primarily due to an increase in Cirrus charter flight activity, costs related to the operation of aircraft and payments to Cirrus for their management.

Gross loss totaled approximately $417,000 compared to $201,000 in the same period last year. The increase was largely driven by reduced flights performed for the Company’s jet card customers without a corresponding reduction in fixed costs.

Operating expenses totaled $2.8 million compared to $2.2 million in the same period last year. The increase was primarily due to an increase in general and administrative expenses, research and development costs, offset by slightly lower sales and marketing expenses.

Operating loss was approximately $3.2 million compared to $2.4 million in the same period last year. The increase was primarily due to the increase in general and administrative expenses resulting from the increase in professional service expenses and wages following the Business Combination.

As of June 30, 2024, the Company had cash and cash equivalents of approximately $528,000 compared to $595,555 as of March 31, 2024.

Management Commentary“In the second quarter, we made significant progress in our anticipated fleet deal with Bombardier, as we announced a non-binding, non-recourse debt financing arrangement, alongside securing $16.5 million in financing from Ionic Ventures LLC,” said Founder and Executive Chairman Mike Winston. “Additionally, we successfully completed the warrant exchange offer, eliminating potentially dilutive warrant overhang and simplifying our capital structure.”

“We received an unsolicited bid for one of our HondaJets at a price that would imply a net economic benefit compared to its continued use in the fleet and so have entered into a contract to sell it as part of our gradual reorientation of the fleet toward the higher margin Challenger 3500 aircraft. We separately have made several advancements on our software business, including the implementation of Reroute AI for our Jet Card holders offering empty leg benefits, and the launch of our enhanced DynoFlight 2.0 platform, which integrates AI and synced fleet data with our partner, FL3XX. These two solutions, along with CharterGPT, continue to attract market interest. We remain cautiously optimistic and look forward to announcing further news on our proposed fleet deal.”

Jet.AI Unveils Advanced AI Technology DynoFlight Platform

LAS VEGAS, Aug. 01, 2024 (GLOBE NEWSWIRE) — Jet.AI Inc. (“Jet.AI” or the “Company”) (NASDAQ: JTAI), an innovative private aviation and artificial intelligence (“AI”) company, announced the launch of its all-new DynoFlight 2.0 platform, a revolutionary web-based solution that redefines aviation carbon management. Completely rebuilt and filled with cutting-edge AI technology, DynoFlight delivers powerful tools designed to allow users to (1) sync fleet data with FL3XX with the touch of a button (2) visualize emission levels, (3) interrogate its AI in natural language about individual (or fleetwide) aircraft emissions (4) pay to remediate those carbon emissions (5) and track and comply with NBAA sustainable flight department standards. Book your Demo today: https://get.dynoflight.com/demo

AI-Powered Revolution

DynoFlight is at the forefront of an AI-powered revolution within aviation software because embedded throughout the platform are advanced AI tools that offer real-time insight, timely advice, and actionable tips based on actual fleet data. Perhaps more importantly, customers can then translate suggestions from AI into action with the ability to purchase carbon removal (or offset) credits all in one place.

Environmental Impact and Cost Savings

Strategies to minimize emissions and promote sustainable practices are better when from a source that knows the behavior of a fleet. By optimizing fuel usage and streamlining operations, DynoFlight helps users reduce their carbon footprint and achieve substantial cost savings, making it a powerful tool for enhancing ROI and boosting ESG efforts

Key Features of the New DynoFlight

FL3XX Sync: Streamline operations with precise synchronization of flight information across platforms, enhancing efficiency and minimizing errors.
NBAA AI and Tip Systems: Access the latest information and expert advice to navigate the complexities of NBAA sustainable flight department compliance with ease.
Activity and Type Tracking: Comprehensive tracking for NBAA sustainable flight department activities by pillar, allowing for more effective management and compliance.
Mobile Support: Full mobile support to access DynoFlight’s features and functionalities on the go, ensuring seamless connectivity and control from anywhere.
10x Speed: Experience a significant boost in performance, with speeds up to 10 times faster, ensuring quick responses and efficient task handling.
New API Endpoints: Benefit from greater flexibility and control over aviation data with new API endpoints that enable seamless integration with other systems.

A Comprehensive Solution for Aviation Professionals

The new DynoFlight is more than just a platform; it’s a comprehensive solution designed to revolutionize aviation carbon management. Leveraging the power of AI, DynoFlight offers unmatched efficiency and ROI enhancement, making it an indispensable tool for aviation professionals.

Experience the Future of Aviation Management

Jet.AI invites aviation professionals to experience the future of aviation management with DynoFlight. Discover how our AI-driven platform can transform your operations, reduce costs, and promote environmental sustainability. Book your Demo today: https://get.dynoflight.com/demo

Founder and Executive Chair Mike Winston commented, “We’d like to thank the team at FL3XX for their incredible products and for this cooperation with DynoFlight. Thanks to the FL3XX integration, hundreds of operators will now have the ability to adopt DynoFlight with zero friction to (1) generate new revenue and (2) control their net emissions.”

“We offer a simple way to assure that every ounce of carbon emitted from an aircraft is buried in the earth. That’s but one of the powers of DynoFlight, whose AI can address massive amounts of logistical data to make suggestions and whose transaction engine allows a transparent way to address the concerns of customers and regulators alike.”

For more information about Jet.AI and our latest updates, visit our website https://www.jet.ai or follow us on social media.

Contacts:Gateway Group, Inc.949-574-3860Jet.AI@gateway-grp.com

NEWS

‍

MANAGEMENT

Mike Winston
Chairman
Mike Winston, CFA began his career in 1999 with Credit Suisse First Boston Corporation and later worked as a portfolio manager at Millennium Partners LP where for five years he and a colleague managed a $1 billion merger arbitrage and event driven capital allocation. In 2012, he formed the Sutton View Group of companies, an alternative asset management platform where he advised one of the largest academic endowments in the world. He co-led a successful activist litigation against the board of Dole Foods in its management led buyout and obtained a 35% increase in total consideration on behalf of all stockholders. Institutional Investor Magazine has recognized Mr. Winston for professional excellence; he has been quoted in the Wall Street Journal and has appeared on CNBC. Mr. Winston received an MBA in Finance and Real Estate from Columbia Business School in 2005, and a BA in Economics from Cornell University in 1999. While at Cornell he studied for a year at the London School of Economics and at age 18 won a $1 million prize from IBM for his first startup company. Mr. Winston is a CFA Charterholder, and a member of the Economic Club of New York.

‍

George Murnane
Chief Executive Officer
George Murnane has over 20 years of senior executive experience, including 14 years as a Chief Operating Officer and/or Chief Financial Officer, in the air transportation and aircraft industry, including for ImperialJet S.a.l (CEO 2013-2019), VistaJet Holdings, S.A. (COO and Acting CFO, 2008), Mesa Air Group (CFO, 2002-2007), North-South Airways (COO and CFO, 2000-2002), International Airline Support Group (Executive Vice President, COO and CFO, 1996-2002) and Atlas Air, Inc. (Executive Vice President and COO, 1995-1996). From 2009 until he joined our company, Mr. Murnane was a managing partner of Barlow Partners, a consulting services firm providing operational and financial management, merger and acquisition, financing and restructuring expertise to industrial and financial companies. Mr. Murnane received an MBA from The Wharton School of the University of Pennsylvania and a BA in Economics from the University of Pennsylvania in 1980.

‍

Patrick McNulty
Chief Operating Officer
Patrick McNulty, COO, continues his career at Jet.AI following eight successful years with Honda Aircraft Company as a manager of Sales Operations and Business Development. Mr. McNulty is widely regarded as one of the world’s leading experts on the HondaJet. While with Honda Aircraft, Mr. McNulty led the development of a robust sales engineering team and was instrumental in product development and market analysis for the manufactuer. Prior to Honda Aircraft Company, he worked in the aircraft engine division of Rolls-Royce North America and at light jet manufacturer Eclipse Aviation. Mr. McNulty is a graduate of the Embry-Riddle Aeronautical University (BS Aerospace Engineering, MBA Aviation) and resides in Henderson, NV with his wife and two children. He is an avid fan of Formula 1 and enjoys golfing in his free time.

‍

Kienan Franklin
Vice President of Sales
Kienan Franklin, VP of sales, continues his career at Jet.AI following six successful years focused on new aircraft sales of Cessna’s CitationJet series. Since joining Jet.AI, Kienan has already been promoted reflecting his exceptional skill with sales and customer relationships. He graduated from the University of Kentucky in 2011 with a BA in marketing and resides in Denver, Colorado, with his wife and two children. In his free time, Kienan enjoys skiing, hunting, and all things outdoors with his family.

‍

Jake Vale
Chief Marketing Officer
Jake Vale, CMO, designs and executes marketing strategies including Jet.AI’s historic capital raise efforts, oversees investor relations and public relations activity as well as manages direct to consumer marketing of jet card, fractional ownership and charter offerings including CharterGPT. Mr. Vale previously managed marketing budget allocation for tZERO’s security token offering as well as Reg CF and Reg A raises on the StartEngine platform. Mr. Vale is a graduate of SDSU (BA Marketing & minor in Film) and resides in Northern NV with his wife and two children.

SINCERELY,

DISCLAIMER

THIS WEBSITE/NEWSLETTER IS OWNED SUBSIDIARY BY DEDICATED INVESTORS, LLC.

OUR REPORTS/RELEASES ARE A COMMERCIAL ADVERTISEMENT AND ARE FOR GENERAL INFORMATION PURPOSES ONLY. WE ARE ENGAGED IN THE BUSINESS OF MARKETING AND ADVERTISING COMPANIES FOR MONETARY COMPENSATION. WE HAVE BEEN COMPENSATED A FEE OF EIGHT THOUSAND USD BY TD MEDIA LLC FOR A ONE DAY JTAI AWARENESS CAMPAIGN. NEVER INVEST IN ANY STOCK FEATURED ON OUR SITE OR EMAILS UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE INVESTMENT. THE DISCLAIMER IS TO BE READ AND FULLY UNDERSTOOD BEFORE USING OUR SERVICES, JOINING OUR SITE OR OUR EMAIL/BLOG LIST AS WELL AS ANY SOCIAL NETWORKING PLATFORMS WE MAY USE.PLEASE NOTE WELL: DEDICATED INVESTORS LLC AND ITS EMPLOYEES ARE NOT A REGISTERED INVESTMENT ADVISOR, BROKER DEALER OR A MEMBER OF ANY ASSOCIATION FOR OTHER RESEARCH PROVIDERS IN ANY JURISDICTION WHATSOEVER.RELEASE OF LIABILITY: THROUGH USE OF THIS WEBSITE VIEWING OR USING YOU AGREE TO HOLD DEDICATED INVESTORS LLC, ITS OPERATORS OWNERS AND EMPLOYEES HARMLESS AND TO COMPLETELY RELEASE THEM FROM ANY AND ALL LIABILITY DUE TO ANY AND ALL LOSS (MONETARY OR OTHERWISE), DAMAGE (MONETARY OR OTHERWISE), OR INJURY (MONETARY OR OTHERWISE) THAT YOU MAY INCUR. THE INFORMATION CONTAINED HEREIN IS BASED ON SOURCES WHICH WE BELIEVE TO BE RELIABLE BUT IS NOT GUARANTEED BY US AS BEING ACCURATE AND DOES NOT PURPORT TO BE A COMPLETE STATEMENT OR SUMMARY OF THE AVAILABLE DATA. DEDICATED INVESTORS LLC ENCOURAGES READERS AND INVESTORS TO SUPPLEMENT THE INFORMATION IN THESE REPORTS WITH INDEPENDENT RESEARCH AND OTHER PROFESSIONAL ADVICE. ALL INFORMATION ON FEATURED COMPANIES IS PROVIDED BY THE COMPANIES PROFILED, OR IS AVAILABLE FROM PUBLIC SOURCES AND DEDICATED INVESTORS LLC MAKES NO REPRESENTATIONS, WARRANTIES OR GUARANTEES AS TO THE ACCURACY OR COMPLETENESS OF THE DISCLOSURE BY THE PROFILED COMPANIES. NONE OF THE MATERIALS OR ADVERTISEMENTS HEREIN CONSTITUTE OFFERS OR SOLICITATIONS TO PURCHASE OR SELL SECURITIES OF THE COMPANIES PROFILED HEREIN AND ANY DECISION TO INVEST IN ANY SUCH COMPANY OR OTHER FINANCIAL DECISIONS SHOULD NOT BE MADE BASED UPON THE INFORMATION PROVIDED HEREIN. INSTEAD DEDICATED INVESTORS LLC STRONGLY URGES YOU CONDUCT A COMPLETE AND INDEPENDENT INVESTIGATION OF THE RESPECTIVE COMPANIES AND CONSIDERATION OF ALL PERTINENT RISKS. READERS ARE ADVISED TO REVIEW SEC PERIODIC REPORTS: FORMS 10-Q, 10K, FORM 8-K, INSIDER REPORTS, FORMS 3, 4, 5 SCHEDULE 13D.DEDICATED INVESTORS LLC IS COMPLIANT WITH THE CAN SPAM ACT OF 2003. DEDICATED INVESTORS LLC DOES NOT OFFER SUCH ADVICE OR ANALYSIS, AND DEDICATED INVESTORS LLC FURTHER URGES YOU TO CONSULT YOUR OWN INDEPENDENT TAX, BUSINESS, FINANCIAL AND INVESTMENT ADVISORS. INVESTING IN MICRO-CAP AND GROWTH SECURITIES IS HIGHLY SPECULATIVE AND CARRIES AND EXTREMELY HIGH DEGREE OF RISK. IT IS POSSIBLE THAT AN INVESTORS INVESTMENT MAY BE LOST OR IMPAIRED DUE TO THE SPECULATIVE NATURE OF THE COMPANIES PROFILED.THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES INVESTORS A SAFE HARBOR IN REGARD TO FORWARD-LOOKING STATEMENTS. ANY STATEMENTS THAT EXPRESS OR INVOLVE DISCUSSIONS WITH RESPECT TO PREDICTIONS, EXPECTATIONS, BELIEFS, PLANS, PROJECTIONS, OBJECTIVES, GOALS, ASSUMPTIONS OR FUTURE EVENTS OR PERFORMANCE ARE NOT STATEMENTS OF HISTORICAL FACT MAY BE FORWARD LOOKING STATEMENTS. FORWARD LOOKING STATEMENTS ARE BASED ON EXPECTATIONS, ESTIMATES, AND PROJECTIONS AT THE TIME THE STATEMENTS ARE MADE THAT INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS OR EVENTS TO DIFFER MATERIALLY FROM THOSE PRESENTLY ANTICIPATED. FORWARD LOOKING STATEMENTS IN THIS ACTION MAY BE IDENTIFIED THROUGH USE OF WORDS SUCH AS PROJECTS, FORESEE, EXPECTS, WILL, ANTICIPATES, ESTIMATES, BELIEVES, UNDERSTANDS, OR THAT BY STATEMENTS INDICATING CERTAIN ACTIONS & QUOTE; MAY, COULD, OR MIGHT OCCUR. UNDERSTAND THERE IS NO GUARANTEE PAST PERFORMANCE WILL BE INDICATIVE OF FUTURE RESULTS. IN PREPARING THIS PUBLICATION, DEDICATED INVESTORS LLC HAS RELIED UPON INFORMATION SUPPLIED BY ITS CUSTOMERS, PUBLICLY AVAILABLE INFORMATION AND PRESS RELEASES WHICH IT BELIEVES TO BE RELIABLE; HOWEVER, SUCH RELIABILITY CANNOT BE GUARANTEED. INVESTORS SHOULD NOT RELY ON THE INFORMATION CONTAINED IN THIS WEBSITE. RATHER, INVESTORS SHOULD USE THE INFORMATION CONTAINED IN THIS WEBSITE AS A STARTING POINT FOR DOING ADDITIONAL INDEPENDENT RESEARCH ON THE FEATURED COMPANIES. THE ADVERTISEMENTS IN THIS WEBSITE ARE BELIEVED TO BE RELIABLE, HOWEVER, DEDICATED INVESTORS LLC AND ITS OWNERS, AFFILIATES, SUBSIDIARIES, OFFICERS, DIRECTORS, REPRESENTATIVES AND AGENTS DISCLAIM ANY LIABILITY AS TO THE COMPLETENESS OR ACCURACY OF THE INFORMATION CONTAINED IN ANY ADVERTISEMENT AND FOR ANY OMISSIONS OF MATERIALS FACTS FROM SUCH ADVERTISEMENT. DEDICATED INVESTORS LLC IS NOT RESPONSIBLE FOR ANY CLAIMS MADE BY THE COMPANIES ADVERTISED HEREIN, NOR IS DEDICATED INVESTORS LLC RESPONSIBLE FOR ANY OTHER PROMOTIONAL FIRM, ITS PROGRAM OR ITS STRUCTURE. DEDICATED INVESTORS LLC IS NOT AFFILIATED WITH ANY EXCHANGE, ELECTRONIC QUOTATION SYSTEM, THE SECURITIES EXCHANGE COMMISSION OR FINRA.