Priority Aviation Inc (PJET)

[CHS1]

PJET Quarterly out. (WEDS, AUGUST 12, 2015)



NOTE 8 –SUBSEQUENT EVENTS
On July 1, 2015, the Company entered into an Amendment to the Executive Employment Agreement with Peter Minikes
(the “Amendment”). Pursuant to the terms of the Amendment, the Company will not renew Mr. Minikes’ Employment
Agreement upon its expiration on December 5, 2016. If the Company desires to enter into another business or if Mr.
Minikes is no longer employed by the Company, but in any case after July 1, 2016, Mr. Minikes shall have the right to
acquire the operating business segment Priority One Jets........................................."AFTER JULY 1 2016", MR MINIKES SHALL HAVE THE RIGHT TO AQUIRE THE OPERATING BUSINESS SEGMENT OF PRIORITY ONE JETS.........................................................................................NEW YORK, May 14, 2015 /PRNewswire/ -- Priority Aviation, Inc. (OTCPINK:PJET), a full service aviation and charter service company, reported its first quarter financial results for 2015.

For the three months ending March 31, 2015, the Company reported total gross aviation related revenues of $1.75 million, as compared to $1.71 million for the same period in 2014. The Company further reported that gross margins doubled from 12% to 24%.

The Company also reported that it had completed restructuring its model for operating costs including a new advertising and promotional methodology, resulting in such advertising and promotional costs being reduced by over 60% over the first quarter of 2014.

Peter Minikes CEO stated "Over the last year we have improved margins and efficiencies in our operations and as a result we have enjoyed profitability from our core aviation businesses. Our goal now is to sustain these improvements on a permanent basis going forward. This has put us in a good position to grow the business from a financially sound foundation."

As of May 14, 2015, the Company had approximately 82 million common shares issued and outstanding, and is current with OTC Markets. The Company also notes that in April it changed its transfer agent to vStock Transfer LLC, of Woodmere, New York..........................PRIORITY JETS CURRENTLY FLYING UNDER ALL EQUITY RADAR BEAMS/////////////CHS1