v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net income (loss) from continuing operations $ (4,788) $ 3,043
Net income from discontinued operations (103) (1,014)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:    
Depreciation and amortization expense 120 169
Non-monetary exchange 32 54
Stock compensation expense 30 603
Gain from sale of contract asset (830)
(Gain) loss from disposal property and equipment 26 6
Loss from sale of consolidated entity 35
Gain on settlement of liabilities (108) (4,324)
Loss on dividend payable 101
Amortization right-of-use asset 21 19
Amortization of debt discount 283
Change in fair value of convertible notes 63 750
Loss on investment in M2i 981
Gain on termination of certain investment shares of M2i (959)  
Loss on investment in flyExclusive 128
Loss on aviation asset option 324
Changes in assets and liabilities:    
Accounts receivable 89 (30)
Contract assets, net (468) (211)
Prepaid and other current assets (237) 73
Deposits 17 5,237
Account payable and accrued liabilities 467 (914)
Deferred revenue and customers’ deposits 1,798 (1,511)
Change in assets and liabilities of discontinued operations (235) 3,760
Net cash (used in) provided by operating activities from continuing operations (3,193) 3,282
Net cash provided by (used in) operating activities from discontinued operations 338 (2,746)
Net cash (used in) provided by operating activities (2,855) 536
Investing activities:    
Cash payment for property and equipment (356)
Proceeds from the sale of property and equipment 30
Net cash (used in) provided by investing activities (356) 30
Financing activities:    
Principal payment on lease obligations (21) (19)
Repayment of loans (1,124)
Proceeds from the issuance of convertible notes, net 1,350
Proceeds from the issuance of shares under “at the market” 3,585
Proceeds from PIPE 2,210
Proceeds from Registered Direct offering 1,621
Costs of common stock issuance (442) (66)
Net cash provided by financing activities 6,953 141
Net increase in cash 3,742 707
Cash, beginning of period 4,698 4,000
Cash, end of period 8,440 4,707
Supplemental disclosure of cash flow information:    
Cash paid for interest 1 1,652
Cash paid for income taxes 252 165
Non-Cash Investing and Financing Activities:    
Note receivable from sale of GC Aviation, Inc. 1,800
Non-cash interest 1,977
In-kind dividend paid (1,738)
Credit facility for aircraft deposit (28,000)
Issuance of shares for convertible notes 4,293 4,676
Investment in flyExclusive 1,738
Issuance of flyExclusive shares as part of PIPE 967
Financing for aircraft purchase 37,506
Payment on liability for aircraft purchase (37,595)
Deposits on aircraft $ 28,500