Jet.AI Inc. (JTAI): auditor change — Oxbridge Acquisition restates financials; reclassifies public shares as temporary equity

Jet.AI Inc.

Non-reliance on financial statements from Aug 2021 IPO balance sheet through Q3 2022 10-Q.
Reclassification of all Public Shares to temporary equity per ASC 480-10-S99-3A reevaluation.
Restatement does not affect total assets, liabilities, net income, cash flows, or trust account.
Audit committee concluded after discussion with management; amendment to 2021 10-K and Q3 2022 10-Q to follow.

item 4.02

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

Jet.AI Inc. reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

should be restated to report all Public Shares as temporary equity and should no longer be relied upon

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Source: SEC EDGAR

accession 0001493152-23-005210

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