PJET news out today. Looking better but lot of one or two tick flippers in this one.
Priority Aviation Announces Settlement and Discontinuance of all Litigation Feb 08, 2017 OTC Disclosure & News Service New York, NY - Priority Aviation Announces Settlement andDiscontinuance of all Litigation NEW YORK, NY--(February 2, 2017) - Priority Aviation Inc. (OTC PINK: PJET) announced today they havesettled the two lawsuits outstanding against the Company and related parties (including one labeled as aderivate lawsuit) that were brought by Daniel Weinstein, Marissa Welner and their related entities Mastiff LLCand Madison LLC. These suits and related counterclaims have now been discontinued with prejudice. CEOPeter Minikes stated â??the settlement of these suits allows us to go forward from an organic perspective. Whilewe continued to go about our business the last 24 months, we not only lost the personal fertility assistant dealthat we were excited about, but we were also unable to make any other definitive plans because of theoverhang that these suits represented to potential investors or partners. While we always felt that these suitswere without merit, I am thrilled that we were able to come to a final resolution.â?In connection with the settlement and discontinuance of these lawsuits, the Company acknowledged no liabilityor fault, and paid no funds. The Company agreed to recognize previously recorded debts of Mastiff, but withlower conversion rates. In conjunction with that acknowledgement the Company disclosed that they hadpreviously raised the authorized shares of the companyâ??s common stock to 500 million shares, with ananticipated future raise to 1 billion shares within eight months. The Company believes that the increase is notonly needed as part of the settlement but necessary to allow it to continue to reduce the debt and derivativeliabilities on its books.About Priority Aviation, Inc.Priority Aviation through its wholly owned subsidiary Priority One Jets, provides its clients with what it believesto be is premier class private jet charter service worldwide. The Company, acting as brokers, accomplishes thisthrough a screening process that only selects the safest and most reliable private jets available in the industry.By making use of technological innovations our charter department operates 24 hours a day, 7 days a week.With access to thousands of pre-screened aircraft and highly-trained flight crews, flight access can be arrangedwith as little as 4 hours' notice. www.priorityonejets.com.This press release contains forward-looking statements within the meaning of Section 27A of the Securities Actof 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "ExchangeAct"), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongstother things, current expectation of the business environment in which the company operates, potential futureperformance, projections of future performance and the perceived opportunities in the market. The company'sactual performance, results and achievements may differ materially from the expressed or implied in suchforward- looking statements as a result of a wide range of factors.Priority Aviation, Inc.
Peter MinikesCEO Phone: (646) 807-4947 Email: pminikes@priorityonejets.com
PJET nice action there today. Closed up 90% at .0022. Took it awhile to get out of that trading range. Should have held a little longer. LOL Anyway I made $$$$ on it from my 0008 buys, so no complaining.
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