FJET on NYSE

Starfighters Space, Inc.

Starfighters Space, Inc. is an American air transportation company based in Kennedy Space Center.1 Its shares trade on NYSE under the symbol FJET.1

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Last updated Oct 20, 2026.

Overview

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  • TickerFJET on NYSE1
  • IndustryAir Transportation, Scheduled1
  • HeadquartersKennedy Space Center, Florida1
  • Incorporated inDE2
  • Business address505 Odyssey Way, Suite 203, Kennedy Space Center, Fl 329522
  • Filer category, Emerging growth company2
  • Legal formCorporation

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We have based these forward-looking statements on our current expectations about future events. While we believe these expectations are reasonable, such forward-looking statements are inherently subject to risks and uncertainties, many of which are beyond our control. Our actual future results may differ materially from those discussed or implied in our forward-looking statements for various reasons. Factors that could contribute to such differences include, but are not limited to:4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-66.4%Return on equity5
-$8.4MFree cash flow5

Financial statements

Revenue5$0 in 2025
02024: $0$020242025: $0$02025
Net income5-$16.5M in 2025+109% since 2024
-$20.0M-$15.0M-$10.0M-$5.0M02024: -$7.9M-$7.9M20242025: -$16.5M-$16.5M2025+109%
Fiscal year202320242025
Revenue$05$05
Research and development$05$1.0M5
Operating expenses$4.3M5$15.3M5
Interest$486.7K5$556.0K5
Income before tax-$7.9M5-$16.5M5
Income tax$05$05
Net income-$7.9M5-$16.5M5
Earnings per share-$0.465-$0.765
Earnings per share (diluted)-$0.465-$0.765
Shares (weighted, basic)17.2M shares521.7M shares5
Shares (weighted, diluted)17.2M shares521.7M shares5

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Corporate structure

Starfighters Space, Inc. sits at the top of its group. 4 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Starfighters Space, Inc.

  • CITADEL ADVISORS LLC Filed SCHEDULE 13G on Starfighters Space, Inc., latest Oct 6, 2026
  • Richard William Svetkoff Filed SCHEDULE 13D on Starfighters Space, Inc., latest Aug 31, 2026 (2 filings since Jan 20, 2026)
  • Starfighters Space, Inc. Kennedy Space Center, Florida
    • Starfighters International, Inc. Subsidiary · Florida, United States
    • Starfighters International, Inc. (2 ) Subsidiary · Texas, United States
    • Starfighters, Inc. (3 ) Subsidiary · Florida, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Starfighters Space, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$2.5M5 Dec 31, 2025$130.7K5 Dec 31, 2024+1798.9%
Accumulated depreciation$84.5K5 Dec 31, 2025$48.1K5 Dec 31, 2024+75.8%
Property and equipment, net$2.4M5 Dec 31, 2025$82.6K5 Dec 31, 2024+2801.1%
Operating-lease assets (leased space)$477.6K5 Dec 31, 2025$242.3K5 Dec 31, 2024+97.1%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$4.6M5 Dec 31, 2025$7.1M5 Dec 31, 2024−35.0%
Marketable securities, current$15.3M5 Dec 31, 2025$1.0M5 Dec 31, 2024+1417.5%

Properties, in its own words

Real Property

The Company does not currently own, rent or lease any property other than its hangars located at the KSC, at Reusable Launch Vehicle Hangar, Hangar Rd, Cape Canaveral, FL, 32920, and at Midland International Air & Space Port (the "MIASP") at The George H.W. and Barbara Bush Commemorative Center 9600 Wright Dr., Midland, TX, 79706. The Company may enter into other lease agreements for office space in the future; however, no assurance can be provided that this will occur. The Company currently has no plans to acquire any real property.

The rest of Item 2

Lease Agreements with Space Florida

The Company, through Starfighters International, leases its premises located at the KSC at Reusable Launch Vehicle Hangar, Hangar Rd, Cape Canaveral, FL, 32920 pursuant to the terms and conditions of a Site Occupant Lease Agreement No: C20756 between Space Florida and Starfighters International dated June 1, 2022, as amended on June 1, 2023 (the "Lease Agreement"). The term of the Lease Agreement began on June 1, 2022, and continues until May 31, 2024. Pursuant to the Lease Agreement, the Company leases (i) 10,000 square feet of the Reusable Launch Vehicle Facility, (ii) 2,000 square feet of the Convoy Vehicle Enclosure, and (iii) 2,500 square feet of area beside the Aircraft Ground Equipment Shed (collectively, the "Premises"). The Company is required to pay a monthly fee of $13,958.33 to lease the Premises. Additionally, the Company is required to pay a RLV Common Area Maintenance fee of $4,166.67 per month and various other fees (including license fees) and costs in relation to the Company's lease of the Premises. On June 1, 2024, the Lease Agreement was extended to May 31, 2025, and Starfighters International will be subject to a $100 fee per day if any property remains outside the Premises for more than 24 hours.

Effective June 1, 2025, Starfighters International and Space Florida have agreed to an amendment to the Lease Agreement, which provides for (i) extending the term of the Lease Agreement to May 31, 2026, (ii) increasing the square feet of the Reusable Launch Vehicle Facility available to Starfighters International to 11,069 sq. ft. instead of 10,000 sq. ft., (iii) Starfighters International shall be charged a fee of $500 per day if it utilizes any additional area outside the Premises without prior written consent of the landlord, (iv) priority use and scheduling for major NASA and U.S. Department of Defense operations, which will require Starfighters International to clear all assets and equipment from the requested portion of the Premises within 48 hours, (v) a total monthly rental fee (inclusive of rent and common area maintenance) of $15,294.58, and (vi) if Starfighters International elects to renew the lease, the rent for the renewal term shall be adjusted 3% upward beginning on the one-year anniversary of the effective date, and on the same date on an annual basis thereafter.

Effective October 1, 2025, Starfighters International and Space Florida have agreed to an amendment to the Lease Agreement, which provides for (i) extending the term of the Lease Agreement to May 31, 2031, (ii) reducing the square feet of the Reusable Launch Vehicle Facility available to Starfighters International to 10,735 sq. ft. instead of 11,069 sq. ft., (iii) Starfighters International shall be charged a fee of $500 per day if it utilizes any additional area outside the Premises without prior written consent of the landlord, (iv) priority use and scheduling for major NASA, U.S. Department of Defense and Commercial Space Flight Hardware User operations, (v) a total monthly rental fee (inclusive of rent and common area maintenance) of $15,012.31, and (vi) the rent for the renewal term shall be adjusted 3% upward beginning on the one-year anniversary of the effective date, and on the same date on an annual basis thereafter.

In addition, effective February 4, 2025, the Company, through Starfighters International, and Space Florida entered into a sublease agreement (the "Office Lease") for 115 square feet of office space at the KSC (the "Office Premises') for a one-year term. Space Florida is the lessee of the Office Premises pursuant to the Real Property Use Permit Agreement between Space Florida and NASA dated February 8, 2001. Pursuant to the Office Lease, the Company is required to pay a monthly rent of $345.00 plus applicable taxes. On February 4, 2026, Starfighters International and Space Florida agreed to enter into a new sublease for the Office Premises for an additional one-year term with a revised monthly rent of $369.51.

Lease Agreement with the City of Midland

On June 1, 2025, the Company's subsidiary, Starfighters Texas, entered into a commercial hangar lease agreement with the City of Midland for the lease of hangar facilities at Midland International Air & Space Port in relation to its commitments in the Economic Development Agreement. The lease is for $18,535 per month with a term of one year, which may be extended upon mutual written consent for up to four additional years.

Economic Development Agreement with Midland Development Corporation

On October 7, 2024, the Company, through its subsidiary Starfighters Texas, entered into a 10-year economic development agreement (the "Economic Development Agreement") with the Midland Development Corporation ("MDC") for the expansion of its operations to the MIASP), with effect from September 24, 2024. The Company expects the funding for the expansion of Starfighters Spaceport II to Midland Texas to be funded primarily by the Texas State Government. There is no formal agreement for such funding at this time, and if such funding is not secured, the Company may not pursue this expansion plan.

The Company will use the site for supersonic flight testing, training, research, and development, including suborbital launches and high-speed aircraft operations.

Item 2 of the 10-K filed Apr 15, 2026.4

Leadership

Who has led Starfighters Space, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Richard William Svetkoff2025–now

Chair

  1. Richard William Svetkoff2025–now

President

  1. Richard William Svetkoff2025–now

Chief financial officer

  1. David Kirk Whitney2025–now
Board members and other officers (6)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • SecretaryBrenda Svetkoff named Sep 21, 2022 to Aug 21, 202415
  • Chief Financial Officer and TreasurerOlga Balanovskaya named Mar 2, 2023 to Sep 28, 202316
  • DirectorAustin Thornberry named Mar 2, 2023 to Sep 20, 202417
  • DirectorFrostee Rucker named Mar 2, 2023 to Sep 20, 202417

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Starfighters International, Inc. Florida3
  • Starfighters International, Inc. (2 ) Texas3
  • Starfighters, Inc. (3 ) Florida3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Oct 9, 20268-K Bylaws or fiscal year changed18
  2. Oct 6, 20268-K Regulation FD disclosure19
  3. Oct 2, 20268-K Executive or director change20
  4. Jul 24, 20268-K Change of auditor; Regulation FD disclosure21
  5. Jul 14, 20268-K Change of auditor22
  6. May 22, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure23
  7. May 21, 20268-K Results of operations; Regulation FD disclosure24
  8. May 15, 20268-K Executive or director change25
  9. Apr 13, 20268-K Regulation FD disclosure26
  10. Feb 25, 20268-K Executive or director change27
  11. Feb 24, 20268-K Bylaws or fiscal year changed28
  12. Feb 3, 20268-K Regulation FD disclosure29
  13. Dec 19, 2025New chief executive Richard William Svetkoff becomes CEO8

Calendar

When it reported results

  1. May 21, 2026Reported quarterly or annual results24

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

132 filings to the SEC since October 2021: 2 annual reports, 4 quarterly reports, 16 major events, 26 insider forms, 3 large holders, 11 private raises, 70 other. The latest 20:

  1. Oct 13, 2026424B3 EDGAR
  2. Oct 9, 20268-K EDGAR
  3. Oct 6, 2026SCHEDULE 13G EDGAR
  4. Oct 6, 20268-K EDGAR
  5. Oct 2, 20268-K EDGAR
  6. Sep 14, 2026144 EDGAR
  7. Sep 4, 2026EFFECT EDGAR
  8. Sep 4, 2026424B3 EDGAR
  9. Aug 31, 20264 EDGAR
  10. Aug 31, 2026SCHEDULE 13D EDGAR
  11. Aug 26, 2026S-1/A EDGAR
  12. Aug 19, 202610-Q EDGAR
  13. Aug 14, 2026NT 10-Q EDGAR
  14. Jul 24, 20268-K EDGAR
  15. Jul 22, 2026S-1/A EDGAR
  16. Jul 21, 202610-K/A EDGAR
  17. Jul 21, 202610-Q/A EDGAR
  18. Jul 14, 20268-K EDGAR
  19. Jun 29, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  20. Jun 18, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR

The 132 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

11 open-market trades by officers, directors and large owners since October 2021: 0 buys and 11 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 4, 2026Svetkoff Richard William10% ownerSale30,092$3.95$118.9KForm 4
Jun 4, 2026Svetkoff Richard William10% ownerSale94,908$10.24$971.9KForm 4
Jun 1, 2026Svetkoff Richard William10% ownerSale222,956$8.55$1.9MForm 4
May 26, 2026Svetkoff Richard William10% ownerSale50,000$7.50$375.0KForm 4
May 22, 2026Svetkoff Richard William10% ownerSale329,100$6.39$2.1MForm 4
May 21, 2026Svetkoff Richard William10% ownerSale59,992$5.15$309.0KForm 4
May 20, 2026Svetkoff Richard William10% ownerSale13,773$5.21$71.8KForm 4
May 15, 2026Svetkoff Richard William10% ownerSale75,000$5.21$390.8KForm 4
May 11, 2026Svetkoff Richard William10% ownerSale100,000$5.46$546.0KForm 4
May 8, 2026Svetkoff Richard William10% ownerSale75,000$5.72$429.0KForm 4
Jan 5, 2026Whitney David KirkChief Financial OfficerSale37,500$9.97$373.9KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. May 27, 2026Raised $17.5 million in a private offering of equity Form D: 3 investors so far Form D
  2. Sep 15, 2023Raised $1.3 million in a private offering of securities Form D: $8 million offered in all Form D
  3. Sep 6, 2023Raised $27,500 in a private offering of securities Form D: $935,000 offered in all Form D
  4. Feb 24, 2023Raised $726,000 in a private offering of securities Form D: $8 million offered in all Form D
  5. Feb 24, 2023Raised $945,000 in a private offering of securities Form D: $8 million offered in all Form D
  6. Feb 24, 2023Raised $1.7 million in a private offering of securities Form D: $8 million offered in all Form D
  7. Feb 24, 2023Raised $1.7 million in a private offering of securities Form D: $8 million offered in all Form D
  8. Feb 24, 2023Raised $1.9 million in a private offering of securities Form D: $8 million offered in all Form D
  9. Nov 17, 2022Raised $860,100 in a private offering of equity Form D: $1 million offered in all Form D
  10. Sep 15, 2022Raised $150,000 in a private offering of securities Form D: 33 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 69. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Citadel Advisors LLC2,985,074$15.9M0.0%New
BlackRock, Inc.2,121,074$11.3M0.0%+1,686,971
Geode Capital Management, LLC728,627$3.9M0.0%+404,403
Vanguard Capital Management LLC677,420$3.6M0.0%−68,515
State Street Corp523,600$2.8M0.0%+433,150
Vanguard Portfolio Management LLC513,675$2.7M0.0%New
UBS Group AG389,224$2.1M0.0%+81,708
Millennium Management LLC284,115$1.5M0.0%+142,713
Northern Trust Corp237,000$1.3M0.0%+173,779
Vanguard Fiduciary Trust Co191,843$1.0M0.0%+37,965
Raymond James Financial Inc107,931$574.2K0.0%+85,467
Susquehanna International Group, Llp103,290$549.5K0.0%+87,258
Morgan Stanley100,243$533.3K0.0%+28,046
Charles Schwab Investment Management Inc99,562$529.7K0.0%+74,562
Bank of New York Mellon Corp67,537$359.3K0.0%New
Goldman Sachs Group Inc55,133$293.3K0.0%−69,392
MCF Advisors LLC54,096$287.8K0.0%New
Bank Of America Corp /de/52,554$279.6K0.0%New
Daiwa Securities Group Inc.50,100$266.5K0.0%New
Wells Fargo & Company/mn43,196$229.8K0.0%New
Wealthspire Advisors, LLC41,176$219.1K0.0%New
Nuveen, LLC40,797$217.0K0.0%New
Deutsche Bank Ag\30,588$162.7K0.0%New
Alliancebernstein L.P.30,330$161.4K0.0%New
Concurrent Investment Advisors, LLC29,000$154.3K0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Starfighters Space, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARStarfighters Space, Inc.1
  • CIK0001947016
  • Employer ID (EIN)92-10128034
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)4512 Air Transportation, Scheduled1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address505 Odyssey Way, Suite 203, Kennedy Space Center, FL 329521
  • Phone321-261-09001
  • Shares outstanding54,996,019 as of Aug 14, 20267
  • Public float$24.7M as of Jun 30, 20254
  • AuditorAdeptus Partners, LLC, Ocean, New Jersey PCAOB ID 3686; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceSep 21, 20221
  • Filings132 in all: 4 (19), 253G2 (16), 8-K (16), 1-U (14), D (10), 3 (7), CORRESP (5), UPLOAD (4)1
    All 34 form types

    1-A POS (3), 10-Q (3), 144 (3), DOSLTR (3), 1-SA (2), 424B3 (2), DOS/A (2), NT 10-Q (2), QUALIF (2), S-1/A (2), SCHEDULE 13G (2), 1-A (1), 1-K (1), 10-K (1), 10-K/A (1), 10-Q/A (1), 253G1 (1), 8-A12B (1), CERT (1), D/A (1), DOS (1), EFFECT (1), NT 10-K (1), S-1 (1), S-8 (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Apr 15, 2026
    Quarterly report (10-Q) Aug 19, 2026
    Latest 8-K (8-K) Oct 9, 2026

Securities registered for trading

ClassSymbolExchange
Common StockFJETNYSE American LLC

From the cover page of the 10-K filed Apr 15, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Starfighters Space, Inc. names in Item 1A of its 10-K filed Apr 15, 2026: 40 risks under these headings, as written.4

  • Risks Related to our Business and Industry
  • We are operating in an evolving industry, which makes it difficult to forecast our revenue, plan our expenses and evaluate our business and future prospects.
  • A significant portion of our business model is dependent upon the ongoing development of certain key technologies, which will require increased investment and operating expenses in the future, which may in turn impact our ability to reach and maintain revenue and profitability milestones.
  • We will require significant capital investment in order to meet our objectives, and lack of that investment or the success of the execution of our plan may impact our ability to continue as a going concern.
  • Our ability to execute on our business plan to become a provider of low earth orbit satellite launch services is dependent us obtaining and maintaining licenses, waivers, certifications, permits and authorizations, including the requisite launch licenses from the Federal Aviation Administration (the "FAA") Office of Commercial Space Transportation (the "AST").
  • Our business relationships with various governmental and private entities are subject to the policies, priorities, regulations, mandates and funding levels of such entities and may be negatively or positively impacted by any change thereto.
  • Our future revenue and operating results are dependent on our ability to generate a sustainable order rate for our products and services and develop new technologies to meet the needs of our customers or potential new customers.
  • Our business critically depends upon our ability to develop, produce, test and successfully deploy our platform, which requires continued development in order to be proven to deliver our solution and stay relevant as the market demands change and mature.
  • We expect to derive a substantial amount of our revenues from only a core group of major customers. Our inability to attract new customers, a loss of, or default by, one or more of our customers, or a material adverse change in any such customer's business or financial condition, could materially reduce our future revenues.
  • Disruptions in U.S. government operations and funding could have a material adverse effect on our revenues, earnings and cash flows, and otherwise adversely affect our financial condition.
  • We may not be successful in developing new technology, and the technology we are successful in developing may not meet the needs of our customers or potential new customers.
  • We operate in highly competitive industries and in various jurisdictions across the world which may cause us to have to reduce our prices.
The other 29 risks
  • We often rely on a single vendor or a limited number of vendors to provide certain key products or services and the inability of these key vendors to meet our needs could have a material adverse effect on our business.
  • We depend on several specialized suppliers for the majority of specialized supply needs. Disruptions in the supply of key raw materials or components and difficulties in the supplier qualification process, as well as increases in prices of raw materials, could adversely impact us.
  • Developments related to the conflict in the Middle East and the global response, could adversely affect our business, financial condition and results of operations.
  • The expansion of our operations subjects us to additional risks that can adversely affect our operating results.
  • Our fleet of supersonic aircraft requires continued sourcing and inventory evolution, regular maintenance and the upgrading or replacement of aging parts, and our inability to add to and upgrade our fleet, find qualified technicians or source replacement parts may result in some of our aircraft being inoperable for extended periods of time or permanently decommissioned, the occurrence of which can materially and adversely affect our operations.
  • The payloads and related solutions and systems that we may contract to deliver are subject to manufacturing and launch delays, mission and strategy shifts, damage or destruction during pre-launch operations, launch failures and incorrect orbital placement, the occurrence of which can materially and adversely affect our operations.
  • Our revenue, results of operations and reputation may be negatively impacted if our platform fails to operate in the expected manner.
  • Our business involves significant risks and uncertainties that may not be covered by insurance.
  • Interruption or failure of our infrastructure could hurt our ability to effectively perform our daily operations and provide and produce our products and services, which could damage our reputation and harm our operating results.
  • Any significant disruption in or unauthorized access to our computer systems or those of third parties that we utilize in our operations, including those relating to cybersecurity or arising from cyber-attacks, could result in a loss or degradation of service, unauthorized disclosure of data, or theft or tampering of intellectual property, any of which could materially adversely impact our business.
  • Our technology may violate the proprietary rights of third parties, which could have a negative impact on our operations.
  • Indemnity provisions in certain agreements potentially expose us to losses.
  • We may not have adequate capital to fund our business and may need substantial additional funding to continue operations. We may not be able to raise capital when needed, if at all, which would force us to delay, reduce or eliminate our business development efforts and could cause our business to fail.
  • Uncertain global macro-economic and political conditions could materially adversely affect our results of operations and financial condition.
  • If we are unable to hire, retain or motivate qualified personnel, consultants, independent contractors, and advisors, we may not be able to grow effectively.
  • We are highly dependent on the services of Tim Franta, our new Chief Executive Officer, and if we are unable to retain Mr. Franta, our ability to compete could be harmed.
  • We have historically been highly dependent on the services of Rick Svetkoff, our former President and Chief Executive Officer, and it remains unclear whether his recent departure will adversely affect our ability to compete.
  • Failure to develop our internal controls over financial reporting as we grow could have an adverse impact on us. We have identified material weaknesses in our internal controls over financial reporting as of December 31, 2025, which we may not be able to remedy in a timely manner.
  • Failure to comply with United States federal and state laws relating to employment could subject us to penalties and other adverse consequences.
  • Changes to applicable United States tax laws and regulations or exposure to additional income tax liabilities could affect our business and future profitability.
  • We may be subject to litigation and other legal proceedings that could adversely affect our business, financial condition, and results of operations, and the outcome of pending litigation is inherently uncertain.
  • Misconduct by our officers, directors or employees could expose us to financial losses, legal liability, reputational harm and negative publicity, any of which could have a material adverse effect on our business.
  • We are unable to predict the extent to which epidemics, pandemics, and similar outbreaks, including the global COVID-19 pandemic, may adversely impact our business operations, financial performance, results of operations and stock price.
  • Risks Related to Our Common Stock
  • Conflicts of Interest.
  • If we issue additional Common Stock, stockholders may experience dilution in their ownership of the Company.
  • We do not intend to pay dividends and there will thus be fewer ways in which you are able to make a gain on your investment.
  • We may be at an increased risk of securities class action litigation.
  • Our former President and Chief Executive Officer, Rick Svetkoff, exercises significant control over the Company.
  • Our Certificate of Incorporation designates the Court of Chancery of the State of Delaware as the exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which would limit such stockholders ability to choose the judicial forum for disputes with us or our directors, officers or other employees.

Legal proceedings

In the ordinary course of business, we may from time to time become subject to legal proceedings and claims arising in connection with ongoing business activities. The results of litigation and claims cannot be predicted with certainty, and unfavorable resolutions are possible and could materially affect our results of operations, financial condition or cash flows. In addition, regardless of the outcome, litigation could have an adverse impact on us as a result of legal fees, the diversion of management's time and attention and other factors.

On April 9, 2026, Richard “Rick” Svetkoff filed a complaint in the 18th Judicial Circuit in and for Brevard County, Florida (Case No. 26TC-245660994), against the Company, Timothy Franta (the Company’s current CEO and a board member), board members Sean Bromley, Brian Goldmeier and Geoffrey “Hak” Hickman, and Flagship Bank as trustee for funds held in the name of the Company’s wholly-owned subsidiary, Starfighters International, Inc. (“SFII”). Mr. Svetkoff previously served as the Company’s CEO, President and Executive Chairman, and as a Director, until his voluntary resignation from these positions on February 19, 2026. Following his resignation, the Company removed Mr. Svetkoff as an officer and director of SFII, a corporation formed under the laws of the State of Florida, and Starfighters International, Inc., a corporation formed under the laws of Texas, on March 9, 2026, and caused Articles of Amendment to be filed for SFII with the Florida Secretary of State office on March 27, 2026. In addition, the Company removed Mr. Svetkoff as an officer and director of Starfighters, Inc. (“SI”), a corporation formed under the laws of the State of Florida, on April 2, 2026, and caused Articles of Amendment to be filed for SI with the Florida Secretary of State office on April 3, 2026.

The opening of Item 3, Legal Proceedings.4

Sources

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