Jet.AI settles ~$2.4M payables via equity; court OKs Section 3(a)(10) issuance

Jet.AI Inc.

Settled ~$2.4M in past-due liabilities with Sunpeak via common stock priced at Aug 21 closing price.
Also issues 100,000 unrestricted fee shares under court-approved Section 3(a)(10) exemption.
Default triggers: stock price ≤$0.15 or 30-day avg volume ≤150,000 shares/day.
Company initially reserves 17M shares; further dilution possible if stock price declines.
Florida Circuit Court entered fairness order on August 28, 2024; shares are freely tradable.

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