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NASDAQ reserves “PJ” as ticker for Jet Token Inc.
Jet Token Chairman, Mike Winston, commented, “We appreciate the NASDAQ having granted our request to reserve the ticker, PJ, and remain firmly committed to delivering on our business plan and related technology roadmap.”
For avoidance of doubt, the company’s unrelated Reg A+ offering of Non-Voting Common Stock remains ongoing at https://www.startengine.com/jettoken. Be sure to see important disclaimers below.
Jet Token is revolutionizing the private jet industry and empowering travelers to conveniently look, book and fly any aircraft right from the palm of their hands. The efficiency of our proposed blockchain technology is what sets us apart. Until Jet Token, owning aircraft, booking private flights, trading or selling aircraft time, and connecting private flights with commercial flights, all on the same itinerary in one convenient mobile application had never been possible. Our blockchain technology will allow those who buy 25-hour memberships or 75-hour fractions the option to sell a portion of any unused time to any other Jet Token user or client – enabling a more accessible market and democratizing the use of time across individual service providers.
We’ve already proven that our app platform works and that our offerings are hitting a sweet spot for both existing and first-time private flyers. To scale-up faster, Jet Token has already started taking deliveries pursuant to a multi-aircraft deal for HondaJet Elite aircraft from Honda Aircraft Company, LLC. Building upon the strength and synergies between our two companies, Jet Token and Honda Aircraft are collaborating in marketing efforts and joint promotion of the HondaJet Elite and the Jet Token brand. We are incredibly proud and fortunate to have such close working relationships with all of our industry partners.
Our scalable Jet Token platform is being developed with the traveler in mind, enabling seamless transactions and itinerary building between commercial and private travel for an unparalleled user and operator experience. In addition to the pricing of our own aircraft, Jet Token’s booking platform displays a variety of options across private aircraft types with a range of prices drawn from a list of thousands of aircraft for hire. We intend to offer instant booking and today already offer users the ability to request a jet and simultaneously task us with seeking a lower-cost alternative. As our own fleet of HondaJet Elites grows we can provide the backup customers may need in the unlikely event that the other charter operator has a last-minute change.
THE MARKET
According to the NBAA, the business jet industry contributes $200 billion dollars per year to the US economy alone.
The average flight lasts 1.5 hours with 2-3 passengers, at an average charter rate of $5,000/hr. This flight profile is exactly the HondaJet Elite's sweet spot.
Most one-way charters include the cost of the empty return leg, so a 1.5-hour trip typically translates to 3 hours of billed time, or ~$15,000. Allowing users to sell the otherwise billed time on the open market through Jet Token will reduce the overall cost, increase the meaningful utilization, and ultimately get more travelers to where they need to go, comfortably and securely.
Business jet charter operators logged over a million landings in the US during 2019 and today, the demand for private jet travel has risen 20% above pre-pandemic levels.
The numbers are clear, one million US charter landings per year x $7.5k per leg equals $7.5bn in charter landings alone!
HOW WE ARE DIFFERENT
| AIRCRAFT CLASS | APP CHARTER CATEGORY | REPRESENTATIVE AIRCRAFT | |
|---|---|---|---|
| Very Light | Very Light/Light | 
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| Light | Light/Light | 
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| Mid | Midsize | 
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| Super Mid | Midsize | 
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| Large | Heavy | 
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| Ultra-long range | Heavy | 
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We compete in three ways.
First, with Jet Token’s proposed blockchain technology, we intend to offer members an alternative to sell time they might not need if their travel requirements change after paying upfront for an expensive membership.
Second, for those who mix private and commercial travel on the same itinerary, we intend to offer our Jet Token mobile application v3.0 to make booking easy. As mentioned earlier, version 2.0 of the app is already live in both the iOS and Android stores, respectively.
Third, by being blockchain payment compatible, we cater to the tech-savvy travelers who have created over two trillion dollars of wealth in the past decade and who expect merchants to make their payment systems more compatible.
WHAT WE DO
We use our blockchain platform to sell private jet charters and commercial bookings efficiently and securely - all on one itinerary.
We are developing our platform tools as a technology layer to allow other operators to integrate and do the same as a licensable, turnkey solution.
We sell packages of flight hours on and ownership interests in our fleet of acquired HondaJet Elites.
Why combine private and commercial bookings? Savings! A private jet flight booked directly from London to a smaller US city on the West Coast might cost a whopping $110,000. That same travel plan, broken down into a first-class commercial ticket from London to Los Angeles, and then a private jet flight from LA to that smaller city, might cost only 15% of the fully private direct option.
Why accept both traditional and blockchain forms of payment? This enables faster booking confirmation of air charter flights, particularly on weekends and holidays coinciding with periods of peak travel demand (when banks are generally closed). We have taken special care to understand and accommodate the payment preferences of the new tech-savvy flyers who have seen their wealth grow with blockchain.
OUR TEAM
Our team is passionate about bringing the best platform possible to private air travel. CEO George Murnane has over thirty years of experience in aviation and is a pilot with commercial, instrument and multi-engine ratings. He was most recently employed as CEO of ImperialJet, where for seven years he ran a European private jet charter company that operated a fleet of private jet aircraft. Prior to ImperialJet, George served in various executive roles in the private and commercial aviation industry including COO/CFO of Vista Global and CFO of Mesa Air. Before aviation, George spent a decade as a successful investment banker in the transportation industry group of Merrill Lynch. He is a graduate of the University of Pennsylvania (BA) and The Wharton School (MBA).
Our board of advisors brings extensive industry knowledge to the team and includes former senior officers from HondaJet, Embraer, FlexJet by Bombardier, IAF and the founders of GoGo Jet and Myjets.com, respectively.
WHY INVEST
Private air travel is a highly fragmented industry undergoing consolidation. While commercial aviation has seen meaningful evolution in its booking systems, private aviation has lagged. Jet Token offers a unique opportunity to invest in a membership, booking, and transactions platform for the ultra-modern age of aviation.
We currently make money two ways, the booking platform, and memberships. Seasoned executives helped craft the business model. We have aircraft in service and an app for both iOS and Android, an ongoing purchase agreement and marketing cooperation with HondaJet and a contract with Cirrus Aviation. With more than 40 years of operating history and an independently audited ARGUS Platinum rating, Cirrus Aviation is the largest private jet charter and management company in Las Vegas.
In the near future, we will extend the Jet Token platform and its transaction layer to other operators allowing increased jet availability and more hours available.
The price of an hour of flight time and the customers' desire to manage that cost help explain how another innovator in the private aviation industry, MarquisJet, was able to go from zero to $150 million of sales in only two years. We are committed to building shareholder value and with your help, are bringing new jobs and new technology to make private travel more convenient and accessible.
Don’t get left behind. Invest in Jet Token!
FAQ
The most important feature one can deliver in private aviation is safe, guaranteed capacity on demand. No one needs another charter broker without assets to facilitate customer orders. There are an estimated thirty-five days a year, including holidays and big sporting events, when it is nearly impossible to instantaneously charter a private jet. Only membership programs offer guaranteed aircraft availability. In addition to being available for members, our own fleet of HondaJets may allow us to offer a charter customer an alternative in the event a third-party operator booked through our app cancels a reservation at the last minute.
We believe the HondaJet Elite is one of the quietest and most cost-efficient light jets on the market and is ideally suited to the average US business jet mission profile mentioned above (2-3 passengers, 1.5 hrs). Engines over the wings mean less weight on the tail and more room in the cabin. The over the wing engine mount allows for a tranquil, spacious interior with generous baggage space and a fully enclosed lavatory. Below feel free to view this informative video on the HondaJet.
Images are of the types of planes we intend to acquire
Cirrus Aviation, is by far the largest private jet charter company based in Las Vegas with more flights and aircraft than any of their direct competitors combined. The Cirrus Aviation team has been managing and operating aircraft – commercially and privately – for more than 40 years. We have contracted with Cirrus for all flight operations and maintenance. Cirrus Highlights:
FAA Eligible On-Demand Approved
ARGUS Platinum Rated
Wyvern Recommended
All pilots are trained at the FlightSafety international campus in Greensboro, NC - right next to the HondaJet plant. This is an amazing facility, and we should know, we visited both facilities to see for ourselves and have successfully had numerous pilots trained there. The HondaJet has built an excellent track record for safety and proven a 99.7% dispatch availability, but don't take our word for it, see for yourself. Cirrus Aviation, an ARGUS Platinum operator with a forty-year track record of success in Las Vegas, both operates our HondaJets and assists us to safely provide substitute aircraft at competitive rates in the event we experience periods of excess travel demand.
How many planes are available for charter on the Jet Token platform?
Thousands of safety vetted aircraft.
How many passengers can travel on the same private flight?
The HondaJet can carry up to six passengers plus two pilots for a total of eight persons. Statistically, the average private jet flight in the US only carries 2-3 persons for 1.5 hrs.
AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT.
THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT CAN BE FOUND HERE.
THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
WHILE THE COMPANY HAS SIGNED A QUOTATION AGREEMENT TO TRADE THE SECURITIES OFFERED ON STARTENGINE SECONDARY’S NEW ALTERNATIVE TRADING SYSTEM (THE “ATS”), A COMPANY WHICH INTENDS TO BE QUOTED ON THE MARKETPLACE WILL BE SUBJECT TO CERTAIN REQUIREMENTS WHICH THE COMPANY MAY OR MAY NOT BE ABLE TO SATISFY IN A TIMELY MANNER. EVEN IF A COMPANY IS QUALIFIED TO QUOTE ITS SECURITIES ON THE MARKET, THERE IS NO GUARANTEE AN ACTIVE TRADING MARKET FOR THE SECURITIES WILL EVER DEVELOP, OR IF DEVELOPED, BE MAINTAINED. YOU SHOULD ASSUME THAT YOU MAY NOT BE ABLE TO LIQUIDATE YOUR INVESTMENT FOR SOME TIME OR BE ABLE TO PLEDGE THESE SHARES AS COLLATERAL.
Over $2M Invested and Climbing - Happy New Year!
Thank you for your investment in Jet Token, we appreciate the opportunity to work in your interest! Below please find a short recap of Jet Token’s 2022 campaign updates, and for full text related to any given headline please visit the campaign page and click the Updates section heading (or just scroll down).
Jet Token’s Mike Winston, Executive Chairman (left), George Murnane, CEO, and Brenda Paauwe-Navori, Head of Sales and Advisory Board member
A HondaJet jet card
For Jet Token, there are two jet card options.
The first is a traditional 25-hour card. It’s priced at $5,445 per hour, plus FET.
It has terms attractive for those of you constrained by the increase in jet card call-outs and peak days.
The non-peak deadline for reservations is 24 hours, and the peak is 72 hours, and there are 45 high-demand dates. Peak and non-peak cancelation are just 24 hours, so flexible if your plans tend to change.
There is a 60-minute daily minimum, with the significant negative being a 60-minute, plus taxi time segment minimum, so there isn’t a price break if you are doing multiple sub-one-hour flights on the same day.
That said, there are relatively few card programs with 60 or 72 minutes daily and segment minimums currently on the market.
The second offering is a 10-day access card. Your hourly rate is $1,649, plus FET; however, the cost to join is $190,850.
In other words, if you use all 10 days, you are spending $19,085 before you takeoff. By our calculations, you would need to average over four hours flying across those 10 access dates to make this a better option.
Of course, with the low hourly rate, it’s ideal if you make three or four stops in a day. The by-the-day program is blacked on high-demand and peak dates.
Jet Token Fractional Ownership
While most fractional operators base shares on 800 occupied flight hours per year, Jet Token sells only 425 hours per aircraft. That’s five shares of 75 hours and two jet cards.
Mike Winston, chairman, and co-founder says, the program was designed in concert with the OEM. HondaJets require maintenance every 600 hour hours.
Head of Sales and Advisory Board member Brenda Paauwe-Navori says that it has kept owners and jet cardholders on the fleet 100% of the time since launch.
Currently, it has two HondaJets in service and can add up to three more next year as it sells shares and jet cards. Its first flight was in October.
Jet Token fractional ownership
There is a shared ownership program and co-ownership option. The shared ownership program is Jet Token’s version of a lease, while co-ownership is traditional fractional ownership.
With the latter, current prices, due to increase in January, have a one-fifth share at $1.25 million. That gives the owner 75 flight hours per year.
The monthly management fee is $12,500, and the occupied hourly rate is $1,650, plus FET.
Cirrus Aviation operates the Jet Token fleet, and operations are under Part 135, hence the excise tax.
Paauwe-Navori, a veteran of Bombardier and Embraer, and Winston both point to the model as being focused on providing owners and card clients access to the aircraft they are buying.
Winston believes having up to 16 owners to an aircraft with a small fleet is a recipe for unhappy customers. Limiting each aircraft to five owners and two card members reduces the likelihood of being off-fleet.
Jet Token financials
Jet Token is well funded, Winston says, having crowd-sourced over $13 million from more than 30,000 individual investors. It is in the process of raising an additional $25 million.
Looking ahead, Winston says his goal is to be a launch concept for the HondaJet 2600 concept. That’s a proposed light jet with a transcontinental range.
He calls Jet Token “a Honda shop” and sings the OEM’s praises, noting the company that manufactures everything from cars and motorcycles to lawnmowers and is bigger than Boeing. It had $137 billion in revenues in 2020.
Winston says there is more than enough opportunity in its current Western U.S. footprint. He also has immediate inventory, although he adds, “Act now, supply is limited.”
JAMES WYNBRANDT | BUSINESS JET TRAVELER | DECEMBER 2021
“[Average jet sale prices] are up as much as 20 to 30 percent from the third to fourth quarter, according to some reports, though preemptive off-market sales, bidding wars, and ever-new benchmarks make the increases difficult to quantify.”
“Like all segments of the access business—including charter, jet cards, club memberships, fractional ownership, and new jet sales—prices in the preowned market are today being driven by consumers with no prior exposure to private aviation who have come to embrace it as an ideal travel and lifestyle solution."
“One can almost hear the sound of dropping jaws and scratching heads among industry professionals as they observe the market changes and the willingness of these new entrants to open their checkbooks.”
“Perhaps more striking is the behavior of some aggressive buyers and sellers in this market. In November, at CJI Miami 2021, a panel of financiers from the world’s leading business aircraft lending institutions— including Global Jet Capital, PNC Aviation Finance, and Stonebriar Commercial Finance—said they’re concerned about deals being pushed through without prepurchase inspections, logbook reviews, or other formerly essential due-diligence requirements. The reason: customers are demanding to get deals done.” FULL TEXT
For more information you can always reach a live US based representative 24/7 at 1-866-694-0014, and be sure to visit https://www.jettoken.com/investors.
Missing a perk? If so, please email alex@jettoken.com for same day assistance.
Disclaimer: This Reg A+ offering is made available through StartEngine Primary LLC, member FINRA/SIPC. Please read the Offering Circular (https://www.jettoken.com/oc) and its Risk Factors (https://www.jettoken.com/oc#riskfactors) disclosure before investing. This investment is speculative, illiquid, and involves a high degree of risk, including possible loss of entire investment.
"Business-jet traffic is now up a whopping 45% world-wide relative to the start of 2019, compared with a 24% drop in commercial traffic, according to tracker FlightAware, even though corporate travel hasn’t yet recovered. The demand has come from rich people—many of whom had never used a private plane—living in more remote locations and avoiding commercial airports for vacations, jet brokers say."
"After a long period of stagnation since 2008, private-aircraft makers’ order backlogs are swelling, and used-jet inventories are at record lows. While manufacturers have so far been prudent about increasing production, industry executives are becoming convinced that the boom will persist beyond the pandemic, and believe many medium-size firms will also embrace private jets. Broker Jetcraft forecast in a report this week that annual transactions for secondhand aircraft will reach $12.4 billion in 2025, versus $9.8 billion in 2019." FULL TEXT
For more information you can always reach a live US based representative 24/7 at 1-866-694-0014, and be sure to visit https://www.jettoken.com/investors.
Missing a perk? If so, please email alex@jettoken.com for same day assistance.
Disclaimer: This Reg A+ offering is made available through StartEngine Primary LLC, member FINRA/SIPC. Please read the Offering Circular (https://www.jettoken.com/oc) and its Risk Factors (https://www.jettoken.com/oc#riskfactors) disclosure before investing. This investment is speculative, illiquid, and involves a high degree of risk, including possible loss of entire investment.
The largest player in our space has halted flight access for those who buy new fractional shares, and now has over 1,500 persons on a waiting list for jet cards. Their fractional buyers can expect to wait a full year before their first flight thanks to a shortage of available aircraft and long production lead times. Full Text
We at Jet Token could not be more excited to be taking delivery of HondaJet Elite SN181 and to be able to offer card, fractions and charter into a private jet market experiencing record demand.
While you may know and love our website, did you know that we also have a page just for prospective customers? Check out https://www.lookbookandfly.com to see one of the ways we communicate with those in search of "lift."
For more information you can always reach a live US based representative 24/7 at 1-866-694-0014, and be sure to visit https://www.jettoken.com/investors
Missing a perk? If so, please email alex@jettoken.com for same day assistance.
Disclaimer: This Reg A+ offering is made available through StartEngine Primary LLC, member FINRA/SIPC. Please read the Offering Circular and its Risk Factors disclosure before investing. This investment is speculative, illiquid, and involves a high degree of risk, including possible loss of entire investment.
