$JETMF
Global Crossing Airlines Group Inc.

2022 Q1 Form 10-Q Financial Statement

#000095017022010106 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $16.38M $0.00
YoY Change
Cost Of Revenue $4.441M
YoY Change
Gross Profit $11.94M
YoY Change
Gross Profit Margin 72.89%
Selling, General & Admin $14.33M $2.973M
YoY Change 382.15%
% of Gross Profit 120.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.31K $3.652K
YoY Change 538.34%
% of Gross Profit 0.2%
Operating Expenses $21.14M $2.913M
YoY Change 625.91%
Operating Profit -$4.763M -$2.913M
YoY Change 63.54%
Interest Expense $16.21K $11.29K
YoY Change 43.66%
% of Operating Profit
Other Income/Expense, Net -$16.21K -$3.062M
YoY Change -99.47%
Pretax Income -$4.780M -$5.975M
YoY Change -20.01%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$4.780M -$5.975M
YoY Change -20.01%
Net Earnings / Revenue -29.18%
Basic Earnings Per Share -$0.09 -$0.17
Diluted Earnings Per Share -$0.09 -$0.17
COMMON SHARES
Basic Shares Outstanding 51.24M 34.98M
Diluted Shares Outstanding 51.24M 34.98M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.481M $1.806M
YoY Change 369.52%
Cash & Equivalents $8.481M $1.831M
Short-Term Investments
Other Short-Term Assets $5.137M $2.007M
YoY Change 155.92%
Inventory
Prepaid Expenses
Receivables $469.7K
Other Receivables $0.00
Total Short-Term Assets $14.09M $3.813M
YoY Change 269.41%
LONG-TERM ASSETS
Property, Plant & Equipment $868.6K $2.676M
YoY Change -67.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.816M $3.035M
YoY Change 124.58%
Total Long-Term Assets $29.40M $5.711M
YoY Change 414.87%
TOTAL ASSETS
Total Short-Term Assets $14.09M $3.813M
Total Long-Term Assets $29.40M $5.711M
Total Assets $43.49M $9.524M
YoY Change 356.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.651M $1.759M
YoY Change 278.06%
Accrued Expenses $6.693M $905.0K
YoY Change 639.55%
Deferred Revenue
YoY Change
Short-Term Debt $1.573M $785.4K
YoY Change 100.28%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.77M $6.677M
YoY Change 181.17%
LONG-TERM LIABILITIES
Long-Term Debt $3.795M $842.2K
YoY Change 350.6%
Other Long-Term Liabilities $83.49K $1.715M
YoY Change -95.13%
Total Long-Term Liabilities $22.73M $2.557M
YoY Change 788.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.77M $6.677M
Total Long-Term Liabilities $22.73M $2.557M
Total Liabilities $41.50M $9.234M
YoY Change 349.43%
SHAREHOLDERS EQUITY
Retained Earnings -$27.04M
YoY Change
Common Stock $51.26K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.990M -$563.6K
YoY Change
Total Liabilities & Shareholders Equity $43.49M $9.524M
YoY Change 356.63%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$4.780M -$5.975M
YoY Change -20.01%
Depreciation, Depletion And Amortization $23.31K $3.652K
YoY Change 538.34%
Cash From Operating Activities -$912.0K -$3.083M
YoY Change -70.42%
INVESTING ACTIVITIES
Capital Expenditures $273.0K $158.7K
YoY Change 72.09%
Acquisitions
YoY Change
Other Investing Activities -$617.9K -$300.0K
YoY Change 105.95%
Cash From Investing Activities -$890.9K -$458.7K
YoY Change 94.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $9.930K $4.988M
YoY Change -99.8%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.738M 4.824M
YoY Change 18.93%
NET CHANGE
Cash From Operating Activities -912.0K -3.083M
Cash From Investing Activities -890.9K -458.7K
Cash From Financing Activities 5.738M 4.824M
Net Change In Cash 3.935M 1.282M
YoY Change 206.85%
FREE CASH FLOW
Cash From Operating Activities -$912.0K -$3.083M
Capital Expenditures $273.0K $158.7K
Free Cash Flow -$1.185M -$3.242M
YoY Change -63.45%

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ClassOfWarrantOrRightOutstanding
17631350
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.05
CY2022Q1 jetmf Class Of Warrant Or Right Issued During Period
ClassOfWarrantOrRightIssuedDuringPeriod
4838707
CY2022Q1 jetmf Class Of Warrant Or Right Exercise Price Of Warrant Issued
ClassOfWarrantOrRightExercisePriceOfWarrantIssued
1.24
CY2022Q1 jetmf Class Of Warrant Or Right Exercised During Period
ClassOfWarrantOrRightExercisedDuringPeriod
20700
CY2022Q1 jetmf Class Of Warrant Or Right Exercise Price Of Warrants Exercised
ClassOfWarrantOrRightExercisePriceOfWarrantsExercised
0.49
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
22449357
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.09
CY2021Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
14870782
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
22449357
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.21
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1387000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.25
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.21
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
920668
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.25
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.049
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
16667
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.25
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
0.57
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
904001
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.25
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.48
CY2022Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
904001
CY2022Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
516664
CY2021Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
1387000
CY2021Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
503994
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0038
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y9M10D
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
1.43
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
382612
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
120411
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021Q1 jetmf Date Of Premium Finance Agreement
DateOfPremiumFinanceAgreement
2021
CY2021Q1 jetmf Financed Amount Of Premium
FinancedAmountOfPremium
1345836
CY2021Q1 jetmf Total Amount Of Premium
TotalAmountOfPremium
1738386
CY2021Q1 jetmf Rate Of Interest
RateOfInterest
0.0371
CY2021Q1 jetmf Amount Of Down Payment
AmountOfDownPayment
395000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-4779502
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-5974924
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51241326
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34976943
CY2022Q1 jetmf Incremental Common Shares Attributable To Stock Options And Warrants
IncrementalCommonSharesAttributableToStockOptionsAndWarrants
0
CY2021Q1 jetmf Incremental Common Shares Attributable To Stock Options And Warrants
IncrementalCommonSharesAttributableToStockOptionsAndWarrants
0
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51241326
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34976943
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.17
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.17
CY2020 jetmf Number Of Security Deposits
NumberOfSecurityDeposits
2

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