$SKAS
Saker Aviation Services, Inc.

2024 Q4 Form 10-Q Financial Statement

#000143774924035210 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $2.505M
YoY Change -3.07%
Cost Of Revenue $1.246M
YoY Change 123.57%
Gross Profit $1.260M
YoY Change -37.87%
Gross Profit Margin 50.27%
Selling, General & Admin $456.1K
YoY Change -4.73%
% of Gross Profit 36.21%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $456.1K
YoY Change -4.73%
Operating Profit $803.5K
YoY Change -48.12%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $120.4K
YoY Change -58.75%
Pretax Income $923.9K
YoY Change -49.8%
Income Tax $343.0K
% Of Pretax Income 37.13%
Net Earnings $580.9K
YoY Change -50.46%
Net Earnings / Revenue 23.18%
Basic Earnings Per Share $0.59
Diluted Earnings Per Share $0.57
COMMON SHARES
Basic Shares Outstanding 990.0K 990.0K
Diluted Shares Outstanding 1.019M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $5.078M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $4.601K
Prepaid Expenses $1.055M
Receivables $235.6K
Other Receivables
Total Short-Term Assets $9.894M
YoY Change 4.62%
LONG-TERM ASSETS
Property, Plant & Equipment $39.98K
YoY Change -25.03%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $39.98K
YoY Change -25.03%
TOTAL ASSETS
Total Short-Term Assets $9.894M
Total Long-Term Assets $39.98K
Total Assets $9.934M
YoY Change 4.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $139.3K
YoY Change -78.27%
Accrued Expenses $402.4K
YoY Change -59.39%
Deferred Revenue $260.2K
YoY Change 2.08%
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $802.0K
YoY Change -57.5%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $802.0K
Total Long-Term Liabilities
Total Liabilities $802.0K
YoY Change -57.5%
SHAREHOLDERS EQUITY
Retained Earnings -$10.88M
YoY Change -11.54%
Common Stock $20.01M
YoY Change 0.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.132M
YoY Change
Total Liabilities & Shareholders Equity $9.934M
YoY Change 4.45%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $580.9K
YoY Change -50.46%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6157409 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
2125719 usd
us-gaap Basis Of Accounting
BasisOfAccounting
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">NOTE 1 - <span style="text-decoration: underline; ">Basis of Presentation</span></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The accompanying unaudited condensed consolidated financial statements of Saker Aviation Services, Inc. (the “Company”) and its subsidiary have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial statements and in accordance with the instructions to Form 10-Q. Accordingly, they do not include all of the information and disclosures required by GAAP for annual financial statements and should be read in conjunction with the financial statements and related footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The condensed consolidated balance sheet as of September 30, 2024 and the condensed consolidated statements of operations and cash flows for the three and nine months ended September 30, 2024 and 2023 have been prepared by the Company without audit. In the opinion of the Company’s management, all necessary adjustments (consisting of normal recurring accruals) have been included to make the Company’s financial position as of September 30, 2024 and its results of operations, stockholders’ equity, and cash flows for the three and nine months ended September 30, 2024 not misleading. The results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for any full year or any other interim period.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5078426 usd
CY2024Q3 skas Working Capital
WorkingCapital
9091941 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6466973 usd
us-gaap Net Income Loss
NetIncomeLoss
736868 usd
us-gaap Net Income Loss
NetIncomeLoss
736868 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-912541 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-940742 usd
CY2015 skas Environmental Remediation Agreed Percentage Of Reduction In Tenant Operated Tourist Flights
EnvironmentalRemediationAgreedPercentageOfReductionInTenantOperatedTouristFlights
0.20 pure
CY2015 skas Environmental Remediation Agreed Percentage Of Reduction In Tenant Operated Tourist Flights By Year One
EnvironmentalRemediationAgreedPercentageOfReductionInTenantOperatedTouristFlightsByYearOne
0.40 pure
CY2015 skas Environmental Remediation Agreed Percentage Of Reduction In Tenant Operated Tourist Flights By Year Two
EnvironmentalRemediationAgreedPercentageOfReductionInTenantOperatedTouristFlightsByYearTwo
0.50 pure
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
448000 usd
CY2023Q3 skas Amount Of Gross Receipts During Initial Term
AmountOfGrossReceiptsDuringInitialTerm
1036811 usd
CY2023Q3 skas Percentage Of Gross Receipts During Initial Term
PercentageOfGrossReceiptsDuringInitialTerm
0.30 pure
CY2023Q3 skas Amount Of Gross Receipts During Both Renewal Periods
AmountOfGrossReceiptsDuringBothRenewalPeriods
518406 usd
CY2023Q3 skas Percentage Amount Of Gross Receipts During Both Renewal Periods
PercentageAmountOfGrossReceiptsDuringBothRenewalPeriods
0.30 pure
us-gaap Net Income Loss
NetIncomeLoss
736868 usd
us-gaap Net Income Loss
NetIncomeLoss
1764289 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
580885 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
1172591 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
989994
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
976330
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
988510
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
976330
CY2024Q3 skas Incremental Common Shares Attributable To Options And Warrants
IncrementalCommonSharesAttributableToOptionsAndWarrants
28618
CY2023Q3 skas Incremental Common Shares Attributable To Options And Warrants
IncrementalCommonSharesAttributableToOptionsAndWarrants
16381
skas Incremental Common Shares Attributable To Options And Warrants
IncrementalCommonSharesAttributableToOptionsAndWarrants
27772
skas Incremental Common Shares Attributable To Options And Warrants
IncrementalCommonSharesAttributableToOptionsAndWarrants
17527
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1018612
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
992711
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1016282
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
993857
us-gaap Share Based Compensation
ShareBasedCompensation
76081 usd
us-gaap Share Based Compensation
ShareBasedCompensation
76500 usd
skas Shares Based Compensation Stock Options Unamortized Fair Value
SharesBasedCompensationStockOptionsUnamortizedFairValue
25360 usd

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