Flyte Aviation, Inc.
For the period ended Mar 31, 2025. Filed May 14, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 14, 2025
VTAK$0.15-0.7%Stored close · as of Oct 2, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets
(in thousands, except per share data)
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | $450 | $2,873 |
| Accounts receivable, net | 85 | 70 |
| Inventories | 71 | 33 |
| Prepaid expenses and other current assets | 248 | 316 |
| Total current assets | 854 | 3,292 |
| Property and equipment, net | 93 | 91 |
| Operating lease right-of-use assets, net | 82 | 105 |
| Intangible assets, net | 23,763 | 24,274 |
| Other non-current assets | 8 | 8 |
| TOTAL ASSETS | $24,800 | $27,770 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current Liabilities | ||
| Accounts payable | $647 | $230 |
| Accrued expenses | 1,630 | 1,548 |
| Notes payable | 102 | 177 |
| Current portion of notes payable due to related parties | 1,500 | — |
| Current portion of interest payable due to related parties | 106 | — |
| Current portion of royalties payable due to related parties | 21 | 32 |
| Current portion of operating lease liabilities | 83 | 98 |
| Total current liabilities | 4,089 | 2,085 |
| Royalties payable due to related parties | 10,376 | 9,213 |
| Deferred tax liability | 2,416 | 3,141 |
| Notes payable due to related parties | — | 1,500 |
| Interest payable due to related parties | — | 61 |
| Operating lease liabilities | 3 | 13 |
| Total liabilities | 16,884 | 16,013 |
| Commitments and contingencies (see Note 16) | ||
| Stockholders' Equity | ||
| Preferred Stock, $0.0001 par value, 10,000,000 shares authorized | ||
| Series A Convertible Preferred Stock, $0.0001 par value, 7,203 shares designated; 0 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively | — | — |
| Series X Convertible Preferred Stock, $0.0001 par value, 15,404 shares designated; 12,656 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively | — | — |
| Common stock, $0.0001 par value, 60,000,000 shares authorized; 9,268,632 and 8,004,633 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively | — | — |
| Additional paid-in capital | 304,313 | 304,109 |
| Accumulated deficit | (296,397) | (292,352) |
| Total stockholders' equity | 7,916 | 11,757 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $24,800 | $27,770 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.