Jet.AI Inc., a Delaware-incorporated company listed on The Nasdaq Stock Market under the symbol JTAI, has reported a failure to meet Nasdaq's Minimum Bid Price Requirement. The company's common stock had been trading below the $1.00 threshold for 30 consecutive business days, prompting a notice from Nasdaq on April 14, 2024. Jet.AI was given until October 14, 2024, to regain compliance. However, on October 18, 2024, Nasdaq notified Jet.AI that it had not achieved the required bid price. Despite this, the notification does not immediately affect the company's listing or trading on The Nasdaq Capital Market. Jet.AI has been granted an extension until November 26, 2024, to fulfill its compliance plan, which includes a potential reverse stock split approved by shareholders at...Show More

Jet.AI Inc., a Delaware-incorporated company listed on The Nasdaq Stock Market under the symbol JTAI, has reported a failure to meet Nasdaq's Minimum Bid Price Requirement. The company's common stock had been trading below the $1.00 threshold for 30 consecutive business days, prompting a notice from Nasdaq on April 14, 2024. Jet.AI was given until October 14, 2024, to regain compliance. However, on October 18, 2024, Nasdaq notified Jet.AI that it had not achieved the required bid price. Despite this, the notification does not immediately affect the company's listing or trading on The Nasdaq Capital Market. Jet.AI has been granted an extension until November 26, 2024, to fulfill its compliance plan, which includes a potential reverse stock split approved by shareholders at the annual meeting on September 24, 2024. The company has also closed offerings of its common stock on October 11 and October 21, 2024, as part of its efforts to meet Nasdaq's listing criteria. While Jet.AI is optimistic about regaining compliance by the extended deadline, there is no certainty that it will achieve this goal or maintain compliance thereafter.