CONDENSED CONSOLIDATED BALANCE SHEETS March 31, December 31, 2025 2024 Assets Current assets: Cash and cash equivalents $12,245,419 $5,872,627 Accounts receivable 398,873 132,230 Other current assets 336,692 357,751 Total current assets 12,980,984 6,362,608 Property and equipment, net 4,417 5,055 Intangible assets, net 86,745 86,745 Right-of-use lease asset 914,915 1,048,354 Investment in joint venture 100,000 100,000 Deposit on aircraft 3,500,000 2,400,000 Deposits and other assets 871,561 794,561 Total assets $18,458,622 $10,797,323 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $551,800 $280,450 Accrued liabilities 2,109,418 1,663,338 Deferred revenue 1,282,397 1,319,746 Operating lease liability 529,499 525,547 Total current liabilities 4,473,114 3,789,081 Lease liability, net of current portion 361,916 495,782 Total liabilities 4,835,030 4,284,863 Commitments and contingencies - - Stockholders' Equity Preferred Stock, 4,000,000 shares authorized, par value $0.0001, 0 issued and outstanding (except for the Series B Shares identified below) - - Series B Convertible Preferred Stock, 5,000 shares authorized, par value $0.0001, 1,300 and 250 issued and outstanding - - Common stock, 200,000,000 shares authorized, par value $0.0001, 2,187,446 and 1,629,861 issued and outstanding 218 162 Subscription receivable (6,724) (6,724)Additional paid-in capital 69,345,980 59,065,100 Accumulated deficit (55,715,882) (52,546,078)Total stockholders' equity 13,623,592 6,512,460 Total liabilities and stockholders' equity $18,458,622 $10,797,323 JET.AI, INC.
Announced strategic shift into AI data center investment and signed a LOI for a 50-megawatt data center project on a proposed gigawatt campus in NevadaEntered into a definitive agreement with flyExclusive to divest the Company’s jet card and fractional aviation business in a spin-merge transaction expected to close in the second quarter of 2025 Management Commentary Founder and Executive Chairman Mike Winston said, "Since refocusing our long-term strategy on AI-driven infrastructure, we’ve made meaningful progress pursuing and executing on what we believe are extraordinary opportunities in this space.
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that could cause the actual results to differ materially from the expected results.
The story "Jet.AI Inc. Reports First Quarter 2025 Financial Results" has 1248 words across 42 sentences, which will take approximately 6 - 11 minutes for the average person to read.
Which news outlet covered this story?
The story "Jet.AI Inc. Reports First Quarter 2025 Financial Results" was covered 18 hours ago by GlobeNewswire, a news publisher based in China.
How trustworthy is 'GlobeNewswire' news outlet?
GlobeNewswire is a fully independent (privately-owned) news outlet established in 1998 that covers mostly technology news.
The outlet is headquartered in China and publishes an average of 133 news stories per day.
It's most recent story was published 13 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
