Star Jets International sells on-demand charter and Jet Cards

 

Blue Star Jets founder Ricky Sitomer is moving forward with his new venture, Star Jets International, with his goal of acquiring other charter brokers. Advanced Defense Technologies, Inc. (OTC PINK:ADCF) (OTC PINK:ADCFD) announced that FINRA approved its corporate actions application for a corporate name change to Star Jets International, Inc., a new stock symbol, JETR, representing its business as a private jet charter company, and a 1-for-100 reverse stock split; all to be effective as of February 12, 2018. 

 

According to a press release received by Private Jet Card Comparisons, an intermediary symbol, ADCFD (a “D” added to the old symbol) becomes effective on the approved FINRA date, which notifies the “STREET” of these corporate actions. The Company’s new stock symbol, JETR, goes active approximately 20 business days from the corporate action date. CUSIP assigned the Company a new number 855140109 associated with JETR’s new name, symbol, and recapitalization. The 1-for-100 reverse stock split automatically converts one hundred current shares of ADCF common stock into one new share of common stock, with fractional shares rounded up to the next full share.

 

“These corporate actions represent an important next step in moving our company forward toward becoming a fully reporting, OTCQB company,” said Ricky Sitomer, CEO of Star Jets. “We plan to take additional steps in the near future to audit our financial statements and then start filing our financial statements with the SEC, and apply to the OTCQB for trading.  We hope to have that process done in the next few months.  We are very excited for our name change, our symbol change, and our reverse split.   We look forward to executing our plan for Star Jets International.”
Advanced Defense Technologies, Inc. acquired Star Jets International, LLC in September 2017 by a reverse merger. Star Jets International offers its customers both on-demand charter and Jet Card solutions.

 

Prior to the holidays, Star Jets rolled out a series of 10-hour Jet Cards.

 

About the Author Doug Gollan

I am Founder and Editor of Private Jet Card Comparisons, the only independent buyer's guide to jet card membership programs, and DG Amazing Experiences, a weekly luxury travel e-newsletter for private jet owners. I am also a contributor to Forbes.com