Correction Notice of First Quarter 2024 Financial Results Press Release
May 16 2024 - 1:29PM
Jet.AI Inc. (the “Company”) (Nasdaq: JTAI), an
innovative private aviation and artificial intelligence (“AI”)
company, today announced a correction to its press release
originally issued on May 15, 2024, reporting its financial results
for the first quarter ended March 31, 2024.
In the original press release, the Company stated that it
“…raised a $16.5 million convertible preferred from Ionic Ventures
LLC.” The Company would like to update the statement to reflect
that it “…entered into a $16.5 million convertible preferred from
Ionic Ventures LLC and have received proceeds of $1.5 million so
far.”
The correction to the press release has no negative impact on
the Company's financials. The financial statements were correct in
the original press release and have not changed.
About Jet.AIJet.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. The
Company was founded in 2018 and is based in Las Vegas, NV and San
Francisco, CA. Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws with respect to
the products and services offered by Jet.AI and the markets in
which it operates, and Jet.AI’s projected future results. These
forward-looking statements generally are identified by the words
“believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “opportunity,” “plan,” “may,” “should,”
“will,” “would,” “will be,” “will continue,” “will likely result,”
and similar expressions. 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. As a
result, caution must be exercised in relying on forward-looking
statements, which speak only as of the date they were made. Factors
that could cause actual results to differ materially from those
expressed or implied in forward-looking statements can be found in
the Registration Statement and the amendments thereto on Form S-4
filed with the Securities and Exchange Commission (File No.
333-270848) and other documents filed by the Company from time to
time with the SEC. These filings identify and address other
important risks and uncertainties that could cause actual events
and results to differ materially from those contained in the
forward-looking statements. Readers are cautioned not to put undue
reliance on forward-looking statements, and Jet.AI assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether because of new information,
future events, or otherwise. Roaring Kitty
Jet.AI Investor Relations:Gateway Group, Inc.
949-574-3860Jet.AI@gateway-grp.com
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