secwatch.observer — SEC 8-K summary
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Issuer:     Jet.AI Inc. (JTAI)
CIK:        0001861622
Form:       8-K
Filed at:   2024-04-19T23:59:59+00:00
Accession:  0001493152-24-015381
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 3.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Jet.AI receives Nasdaq deficiency notice for bid price below $1.00; 180-day cure period until Oct 14, 2024
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- Received Nasdaq notice on April 15, 2024; must have bid price ≥ $1.00 for 10 consecutive days by Oct 14, 2024.
- If not compliant by Oct 14, may transfer to Nasdaq Capital Market for additional 180-day period if eligible.
- Also disclosed Placement Agency Agreement with Maxim Group: 7% cash fee on gross proceeds, up to $1,050,000 in future fees.
- Paid Maxim $120,000 from March 29 closing; right of first refusal for future offerings until Dec 31, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1861622/000149315224015381/0001493152-24-015381-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1861622/000149315224015381/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-015381

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