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Saker Aviation Services, Inc. – ‘10-Q’ for 6/30/22 – ‘R17’

On:  Monday, 8/15/22, at 3:45pm ET   ·   For:  6/30/22   ·   Accession #:  1437749-22-20521   ·   File #:  0-52593

Previous ‘10-Q’:  ‘10-Q’ on 5/16/22 for 3/31/22   ·   Next:  ‘10-Q’ on 11/14/22 for 9/30/22   ·   Latest:  ‘10-Q’ on 5/15/24 for 3/31/24

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/15/22  Saker Aviation Services, Inc.     10-Q        6/30/22   35:2.2M                                   RDG Filings/FA

Quarterly Report   —   Form 10-Q

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    447K 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     15K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     16K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     14K 
10: R1          Document And Entity Information                     HTML     60K 
11: R2          Condensed Consolidated Balance Sheets (Current      HTML    111K 
                Period Unaudited)                                                
12: R3          Condensed Consolidated Balance Sheets (Current      HTML     31K 
                Period Unaudited) (Parentheticals)                               
13: R4          Condensed Consolidated Statements of Operations     HTML     86K 
                (Unaudited)                                                      
14: R5          Statement of Condensed Consolidated Stockholders'   HTML     51K 
                Equity (Unaudited)                                               
15: R6          Condensed Consolidated Statements of Cash Flows     HTML     87K 
                (Unaudited)                                                      
16: R7          Note 1 - Basis of Presentation                      HTML     19K 
17: R8          Note 2 - Liquidity and Material Agreements          HTML     27K 
18: R9          Note 3 - Summary of Significant Accounting          HTML     30K 
                Policies                                                         
19: R10         Note 4 - Inventories                                HTML     22K 
20: R11         Note 5 - Related Parties                            HTML     16K 
21: R12         Note 6 - Litigation                                 HTML     15K 
22: R13         Note 7 - Changes in Management                      HTML     15K 
23: R14         Significant Accounting Policies (Policies)          HTML     32K 
24: R15         Note 3 - Summary of Significant Accounting          HTML     24K 
                Policies (Tables)                                                
25: R16         Note 4 - Inventories (Tables)                       HTML     21K 
26: R17         Note 2 - Liquidity and Material Agreements          HTML    126K 
                (Details Textual)                                                
27: R18         Note 3 - Summary of Significant Accounting          HTML     34K 
                Policies (Details Textual)                                       
28: R19         Note 3 - Summary of Significant Accounting          HTML     18K 
                Policies - Computation of Basic Net Income Per                   
                Share (Details)                                                  
29: R20         Note 4 - Inventories (Details Textual)              HTML     14K 
30: R21         Note 4 - Inventories - Summary of Inventory         HTML     18K 
                (Details)                                                        
33: XML         IDEA XML File -- Filing Summary                      XML     56K 
31: XML         XBRL Instance -- skas20220630_10q_htm                XML    357K 
32: EXCEL       IDEA Workbook of Financial Reports                  XLSX     44K 
 6: EX-101.CAL  XBRL Calculations -- skas-20220630_cal               XML     81K 
 7: EX-101.DEF  XBRL Definitions -- skas-20220630_def                XML    426K 
 8: EX-101.LAB  XBRL Labels -- skas-20220630_lab                     XML    430K 
 9: EX-101.PRE  XBRL Presentations -- skas-20220630_pre              XML    445K 
 5: EX-101.SCH  XBRL Schema -- skas-20220630                         XSD     74K 
34: JSON        XBRL Instance as JSON Data -- MetaLinks              161±   251K 
35: ZIP         XBRL Zipped Folder -- 0001437749-22-020521-xbrl      Zip    105K 


‘R17’   —   Note 2 – Liquidity and Material Agreements (Details Textual)


This is an IDEA Financial Report.  [ Alternative Formats ]



 
 <>  v3.22.2.2
Note 2 - Liquidity and Material Agreements (Details Textual)
3 Months Ended 6 Months Ended 11 Months Ended 12 Months Ended
USD ($)
USD ($)
USD ($)
USD ($)
USD ($)
USD ($)
USD ($)
USD ($)
USD ($)
USD ($)
USD ($)
USD ($)
USD ($)
Cash and Cash Equivalents, at Carrying Value, Total           $ 3,514,584       $ 3,514,584            
Working Capital           4,194,988       4,194,988            
Revenue from Contract with Customer, Including Assessed Tax           3,452,759   $ 1,179,064   5,273,498 $ 1,988,160          
Net Income (Loss) Attributable to Parent, Total           722,042 $ (31,152) 577,164 $ (265,666) 690,890 311,498          
Net Cash Provided by (Used in) Operating Activities, Total                   1,598,472 212,275          
Net Cash Provided by (Used in) Investing Activities, Total                   (501,644) (78,044)          
Net Cash Provided by (Used in) Financing Activities, Total                   (29,150) (244,438)          
Environmental Remediation, Agreed Percentage of Reduction in Tenant Operated Tourist Flights                           20.00%    
Environmental Remediation, Agreed Percentage of Reduction in Tenant Operated Tourist Flights by Year One                           40.00%    
Environmental Remediation, Agreed Percentage of Reduction in Tenant Operated Tourist Flights by Year Two                           50.00%    
General and Administrative Expense, Total                   836,000 0          
Concession Fees                   601,000 28,000          
Truck Lease [Member]                                
Lessee, Finance Lease, Term of Contract (Month)     60 months                          
Lessee, Finance Lease, Base Lease Payment     $ 2,568                          
Capital Leases of Lessee, Contingent Rentals, Basis Spread on Variable Rate     5.50%                          
Capital Lease, Lessee, Purchase Price of Capital Leased Asset     $ 1.00                          
Concession Agreement [Member]                                
Percentage Payable Greater than Gross Receipts During Period         18.00%             18.00%        
Amount of Gross Receipts During Period         $ 5,000,000             $ 100,000        
Percentage Payable Greater than Gross Receipts in Year One         25.00%                      
Minimum Annual Guarantee Percent       50.00%                        
Line of Credit Facility, Payment Term (Month)                           30 months    
Line of Credit Facility, Number of Options to Extend Agreement                           2    
Paycheck Protection Program CARES Act [Member]                                
Proceeds from Issuance of Long-term Debt, Total   $ 304,833                            
Truck Note [Member]                                
Debt Instrument, Face Amount $ 76,000                              
Debt Instrument, Number of Annual Payments 6                              
Debt Instrument, Periodic Payment, Interest $ 13,432.56                              
Debt Instrument Interest Rate, Per Gallon                             $ 0.018  
Prime Rate [Member] | Truck Note [Member]                                
Debt Instrument, Basis Spread on Variable Rate 3.00%                              
Key Bank National Association [Member] | Term Loan [Member]                                
Debt Instrument, Face Amount                               $ 338,481
Long-Term Debt, Current Maturities, Total           $ 0   $ 0   0 0          
Acquisition Line of Credit [Member] | Key Bank National Association [Member]                                
Line of Credit Facility, Maximum Borrowing Capacity                               2,500,000
Working Capital Line of Credit [Member] | Key Bank National Association [Member]                                
Line of Credit Facility, Maximum Borrowing Capacity                               $ 1,000,000
Debt Instrument, Periodic Payment, Total                   $ 0 $ 0          
Working Capital Line of Credit [Member] | Key Bank National Association [Member] | London Interbank Offered Rate (LIBOR) [Member]                                
Debt Instrument, Basis Spread on Variable Rate                         2.75%      

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:8/15/22
For Period end:6/30/22
4/30/22
3/31/2210-Q,  NT 10-K
12/31/2110-K,  NT 10-K
6/30/2110-Q
5/1/21
3/31/2110-K,  10-Q
8/14/2010-Q
4/20/18
3/15/188-K
1/1/17
12/31/1510-K,  NT 10-K
11/1/08
 List all Filings 
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Filing Submission 0001437749-22-020521   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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