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.
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