Jet.AI Inc., a Delaware-based company, has filed its annual financial report for the fiscal year ended December 31, 2023. The report includes a settlement agreement with Maxim Group LLC, involving the issuance of shares and preferred stock to settle payment obligations. Additionally, a settlement with OAC Sponsor Ltd. was made to address a promissory note obligation. Jet.AI also entered into a bridge agreement with several investors, including executive officers, for short-term financing. The company engaged Maxim as a financial advisor and investment banker, and a placement agency agreement was made in connection with a private placement with Ionic Ventures, LLC. The report also outlines related party transactions, including administrative services agreements and loans from related parties. The company...Show More

Jet.AI Inc., a Delaware-based company, has filed its annual financial report for the fiscal year ended December 31, 2023. The report includes a settlement agreement with Maxim Group LLC, involving the issuance of shares and preferred stock to settle payment obligations. Additionally, a settlement with OAC Sponsor Ltd. was made to address a promissory note obligation. Jet.AI also entered into a bridge agreement with several investors, including executive officers, for short-term financing. The company engaged Maxim as a financial advisor and investment banker, and a placement agency agreement was made in connection with a private placement with Ionic Ventures, LLC. The report also outlines related party transactions, including administrative services agreements and loans from related parties. The company's audit committee has approved a policy for reviewing and approving related party transactions. Jet.AI's board of directors includes independent members, and the company has established compensation policies for non-employee directors. The financial report also details the fees paid to the company's independent accounting firm, Hacker Johnson & Smith PA.