$PREM

Premier Air Charter Holdings Inc.

CIK:0001570937|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - $ / shares	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - $ / shares	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net loss per basic	$ (0.00)	$ (0.00)	$ (0.01)	$ (0.01)
Net loss per diluted	$ (0.00)	$ (0.00)	$ (0.01)	$ (0.01)
Weighted average number of common shares outstanding basic	280,848,293	247,848,293	280,848,293	263,757,016
Weighted average number of common shares outstanding diluted	280,848,293	247,848,293	280,848,293	263,757,016

CONDENSED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (2,443,804)	$ (2,223,550)
Adjustments to reconcile net loss to net cash provided by operating activities:
Provision for bad debt expense	233,270	0
Depreciation and amortization	1,178,995	554,678
(Income) loss on investment in related party	(28,024)	47,641
Stock based compensation	3,424	0
Changes in operating assets and liabilities:
Accounts receivable	(1,345,731)	(140,416)
Other receivables	49,482	243,559
Due from/to related parties	2,268,378	2,461,529
Prepaid expenses and other current assets	(446,160)	0
Accounts payable and accrued expenses	2,224,745	1,112,884
Deferred revenue	(483,662)	150,124
Right of use assets/liabilities - operating	0	0
Net cash provided by operating activities	1,210,913	2,206,449
Cash flows from investing activities
Acquisition of property and equipment	(877,391)	(1,414,020)
Purchase of engine reserves	(507,565)	(672,935)
Net cash used in investing activities	(1,384,956)	(2,086,955)
Cash flows from financing activities
Payments on financing lease obligations	(219,636)	(205,451)
Proceeds from long-term debt	827,674	107,000
Repayments of long-term debt	(490,666)	(138,795)
Repayments of long-term debt, related parties	0	(48,210)
Net cash provided by (used in) financing activities	117,372	(285,456)
Net change in cash	(56,671)	(165,962)
Cash at beginning of period	213,175	225,228
Cash at end of the period	156,504	59,266
Non-cash investing and financing activities:
Right of use assets and liabilities - operating	2,489,173	0
Interest	435,178	0
Income taxes	$ 0	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash	$ 156,504	$ 213,175
Accounts receivable, net allowance of $1,801,299 and $1,568,030 respectively	4,014,634	2,902,173
Other receivables	176,580	226,062
Due from related parties, current portion	196,862	60,479
Prepaid expenses and other current assets	772,043	325,883
Total current assets	5,316,623	3,727,772
Property and equipment, net	8,882,993	8,412,922
Right of use assets - operating	10,787,675	9,449,375
Right of use assets - financing	11,033,770	11,356,858
Investment - related party	74,264	46,240
Maintenance reserves	3,117,923	3,058,945
Total assets	39,213,248	36,052,112
Liabilities and Stockholder's Equity (Deficit)
Accounts payable and accrued expenses	7,063,254	4,838,507
Deferred revenue	250,123	733,785
Due to related parties	5,105,765	2,701,004
Right of use liabilities - operating	2,493,633	1,974,051
Right of use liabilities - financing	1,894,988	1,895,018
Long-term debt, current portion	4,373,736	4,036,728
Long-term debt, related parties, current portion	157,405	154,127
Total current liabilities	21,338,904	16,333,220
Right of use liabilities - operating, net of current portion	8,294,040	7,475,324
Right of use liabilities - financing, net of current portion	7,724,055	7,943,661
Long-term debt, net of current portion	0	0
Long-term debt, related parties, net of current portion	328,315	331,593
Total liabilities	37,685,314	32,083,798
Commitments and contingencies (Note 8)
Stockholders' Equity
Series A Preferred stock: par value $0.001; 155,000 shares authorized; 145,410 issued and outstanding at June 30, 2026 and December 31, 2025	9,351,465	9,351,465
Common stock: par value $0.001; 5,000,000,000 shares authorized; 280,848,293 and 280,848,293 issued and outstanding, respectively	280,848	280,848
Additional paid-in capital	84,924	81,500
Accumulated deficit	(8,189,303)	(5,745,499)
Stockholders' equity	1,527,934	3,968,314
Total liabilities and total stockholders' equity	$ 39,213,248	$ 36,052,112