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Premier Air Charter Holdings Inc.

Premier Air Charter Holdings Inc. is an American surgical and medical instruments and apparatus company.1 It is headquartered in Carlsbad, California.1

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Last updated Oct 21, 2026.

Overview

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  • TickerPREM on OTC1
  • IndustrySurgical & Medical Instruments & Apparatus1
  • HeadquartersCarlsbad, California1
  • Incorporated inNV2
  • Business address2006 Palomar Airport Road, Suite 210, Carlsbad, Ca 920112
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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12, 2012. The Company primarily operates through its wholly owned subsidiary, Premier Air Charter, Inc., a California corporation (“Premier”).3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

10.6%Gross margin4
-8.5%Operating margin4
-12.1%Net margin4
53.6%Revenue growth, 20254
-97.4%Return on equity4
0.00×Debt to equity4
-$1.4MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Charter Sales brought in 86% of the revenue Premier Air Charter Holdings Inc. broke down this way in fiscal 2025.

  1. Charter Sales$27.4M486%up 40% from 2024
  2. Leasing Arrangements$4.0M412%
  3. Maintenance Revenues$439.0K41%down 59% from 2024
  4. Other Revenues$63.3K40%up 102% from 2024
  5. Management Fees$51.0K40%down 50% from 2024
Products and services by year
Products and services20242025
Charter Sales$19.5M$27.4M
Leasing Arrangements$0$4.0M
Maintenance Revenues$1.1M$439.0K
Other Revenues$31.4K$63.3K
Management Fees$103.0K$51.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue87¢$28.5M
  • Selling, general and admin13¢$4.4M

Out of $31.9M in revenue.4 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending100¢$2.6M

Out of $1.2M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.4

Financial statements

Revenue4$31.9M in 2025+54% since 2024
0$10.0M$20.0M$30.0M$40.0M2024: $20.8M$20.8M20242025: $31.9M$31.9M2025+54%
Gross profit4$3.4M in 2025+42% since 2024
0$1.0M$2.0M$3.0M$4.0M2024: $2.4M$2.4M20242025: $3.4M$3.4M2025+42%
Operating income56784-$2.7M in 2025+78006% since 2020
-$15.0M-$10.0M-$5.0M02020: -$3.5K-$3.5K20202021: -$11.1M-$11.1M2021+321823%2022: -$2.0M-$2.0M2022−82%2023: -$457.5K-$457.5K2023−77%2024: -$1.2M-$1.2M2024+152%2025: -$2.7M-$2.7M2025+134%
Net income956784-$3.9M in 2025+5417% since 2019
-$15.0M-$10.0M-$5.0M02019: -$70.1K-$70.1K20192020: -$5.3K-$5.3K2020−92%2021: -$12.0M-$12.0M2021+228106%2022: -$2.5M-$2.5M2022−79%2023: -$1.8M-$1.8M2023−29%2024: -$2.2M-$2.2M2024+25%2025: -$3.9M-$3.9M2025+76%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Revenue$31.9M$20.8M
Cost of sales$28.5M$18.4M
Gross profit$3.4M$2.4M
Payroll and related expenses$1.7M$1.6M
Selling, general and administrative$4.4M$2.0M
Total operating expenses$6.1M$3.5M
Loss from operations-$2.7M-$1.2M
Interest expense$1.4M$854.2K
Other-$190.6K$185.7K
Other expense (income), net$1.2M$1.0M
Provision for income taxes$0$0
Net loss-$3.9M-$2.2M
Net loss per basic-$0.01-$0.01
Net loss per diluted-$0.01-$0.01
Weighted average number of common shares outstanding basic272.3M shares237.9M shares
Weighted average number of common shares outstanding diluted272.3M shares237.9M shares

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What it owns

What Premier Air Charter Holdings Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$9.4M4 Dec 31, 2025$6.7M4 Dec 31, 2024+40.5%
Accumulated depreciation$997.1K4 Dec 31, 2025$252.5K4 Dec 31, 2024+294.9%
Property and equipment, net$8.4M4 Dec 31, 2025$6.4M4 Dec 31, 2024+30.5%
Finance-lease assets$11.4M4 Dec 31, 2025$12.0M4 Dec 31, 2024−5.4%
Operating-lease assets (leased space)$9.4M4 Dec 31, 2025$5.4M4 Dec 31, 2024+74.1%

Properties, in its own words

The Company has a month-to-month lease that expires on August 31, 2029 for its office, ramp and hanger space in Carlsbad, California at the County of San Diego, McClellan-Palomar Airport. The office and aircraft hangar space is approximately 3,000 and 2,500 square feet, respectively.

Item 2 of the 10-K filed Apr 15, 2026.3

Leadership

Who has led Premier Air Charter Holdings Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Alan M. Smith2020
  2. Leonard Lovallo2020
  3. Sandra Bonar2025–now

President

  1. Alan M. Smith2020
  2. Leonard Lovallo2020–2026
  3. Ross David Gourdie2026–now

Chief financial officer

  1. Matt Aune2026–now
2025
Board members and other officers (6)

Former names

  • ALTAIR INTERNATIONAL CORP.Jul 29, 2013 to May 15, 20252

Timeline

  1. Oct 13, 20268-K Ended a material agreement; Debt or obligation accelerated; Exit or restructuring costs19
  2. Jun 26, 20268-K Executive or director change20
  3. Apr 28, 20268-K Results of operations21
  4. Feb 25, 20268-K Executive or director change22
  5. Nov 13, 20258-K Entered a material agreement; Unregistered sale of shares; Bylaws or fiscal year changed23
  6. Oct 22, 20258-K Entered a material agreement; Bylaws or fiscal year changed24
  7. Oct 10, 20258-K Results of operations25
  8. Aug 8, 20258-K Entered a material agreement; Unregistered sale of shares; Bylaws or fiscal year changed26
  9. Jul 29, 20258-K Results of operations27
  10. Jun 27, 20258-K Change of auditor28
  11. Jun 12, 20258-K Results of operations29
  12. Jun 2, 20258-K Other events30
  13. Apr 25, 2025New chief executive Sandra Bonar becomes CEO12
  14. Sep 23, 2020New chief executive Leonard Lovallo becomes CEO14
  15. May 20, 2020New chief executive Alan M. Smith becomes CEO13

Calendar

When it reported results

  1. Apr 28, 2026Reported quarterly or annual results21
  2. Oct 10, 2025Reported quarterly or annual results25
  3. Jul 29, 2025Reported quarterly or annual results27
  4. Jun 12, 2025Reported quarterly or annual results29

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

92 filings to the SEC since October 2021: 5 annual reports, 17 quarterly reports, 23 major events, 27 insider forms, 20 other. The latest 20:

  1. Oct 13, 20268-K CURRENT REPORT EDGAR
  2. Aug 14, 202610-Q FORM 10-Q FOR JUN 2026 EDGAR
  3. Jun 29, 20263 EDGAR
  4. Jun 26, 20268-K CURRENT REPORT EDGAR
  5. May 26, 20263 EDGAR
  6. May 15, 202610-Q FORM 10-Q FOR MAR 2026 EDGAR
  7. Apr 28, 20268-K CURRENT REPORT EDGAR
  8. Apr 15, 202610-K FORM 10-K FOR MAR 2026 EDGAR
  9. Mar 31, 2026NT 10-K EXTENSION EDGAR
  10. Feb 25, 20268-K EDGAR
  11. Nov 14, 202510-Q FORM 10-Q FOR SEP 2025 EDGAR
  12. Nov 13, 20258-K CURRENT REPORT EDGAR
  13. Oct 22, 20258-K CURRENT REPORT EDGAR
  14. Oct 10, 20258-K CURRENT REPORT EDGAR
  15. Aug 15, 202510-Q FORM 10-Q FOR JUNE 2025 EDGAR
  16. Aug 15, 2025NT 10-Q REQUEST FOR EXTENSION EDGAR
  17. Aug 8, 20258-K CURRENT REPORT EDGAR
  18. Jul 29, 20258-K CURRENT REPORT EDGAR
  19. Jun 27, 20258-K EDGAR
  20. Jun 12, 20258-K EDGAR

The 92 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

28 open-market trades by officers, directors and large owners since October 2021: 0 buys and 28 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 23, 2022Lovallo LeonardPresidentSale85,000$0.01$850Form 4
Nov 22, 2022Lovallo LeonardPresidentSale65,000$0.01$650Form 4
Oct 25, 2022Lovallo LeonardPresidentSale150,000$0.01$1.5KForm 4
Sep 28, 2022Lovallo LeonardPresidentSale118,000$0.02$2.4KForm 4
Sep 27, 2022Lovallo LeonardPresidentSale32,000$0.02$640Form 4
Aug 31, 2022Fourth Street Fund, LPSale2,500,000$0.02$50.0KForm 4
Aug 24, 2022Lovallo LeonardPresidentSale81,975$0.02$1.6KForm 4
Aug 23, 2022Lovallo LeonardPresidentSale68,025$0.02$1.4KForm 4
Jul 28, 2022Lovallo LeonardPresidentSale50,000$0.02$1.0KForm 4
Jul 27, 2022Lovallo LeonardPresidentSale50,000$0.02$1.0KForm 4
Jul 26, 2022Lovallo LeonardPresidentSale50,000$0.02$1.0KForm 4
Jun 30, 2022Lovallo LeonardPresidentSale50,000$0.02$1.0KForm 4
Jun 29, 2022Lovallo LeonardPresidentSale100,000$0.02$2.0KForm 4
May 26, 2022Lovallo LeonardPresidentSale150,000$0.02$3.0KForm 4
Apr 27, 2022Lovallo LeonardPresidentSale75,000$0.02$1.5KForm 4
Apr 26, 2022Lovallo LeonardPresidentSale75,000$0.02$1.5KForm 4
Mar 23, 2022Lovallo LeonardPresidentSale100,000$0.03$3.0KForm 4
Mar 22, 2022Lovallo LeonardPresidentSale50,000$0.03$1.5KForm 4
Jan 26, 2022Lovallo LeonardPresidentSale150,000$0.03$4.5KForm 4
Jan 26, 2022Lovallo LeonardPresidentSale150,000$0.03$4.5KForm 4

All 28 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
First American Trust, Fsb49,751$2.7K0.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Premier Air Charter Holdings Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARPremier Air Charter Holdings Inc.1
  • CIK0001570937
  • Employer ID (EIN)99-03854653
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company3
  • Incorporated inNevada3
  • Fiscal year endsDecember 311
  • Industry code (SIC)3841 Surgical & Medical Instruments & Apparatus1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address2006 Palomar Airport Road, Suite 210, Carlsbad, CA 920111
  • Phone858-239-07881
  • Shares outstanding280,848,293 as of Aug 14, 202611
  • Public float$1.6M as of Jun 30, 20253
  • AuditorFruci & Associates II, PLLC, Spokane, Washington PCAOB ID 324; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceJul 29, 20131
  • Filings206 in all: 4 (43), 10-Q (40), 8-K (40), 10-K (12), NT 10-K (8), NT 10-Q (8), 3 (7), CORRESP (7)1
    All 28 form types

    UPLOAD (7), 10-K/A (4), 4/A (3), PRE 14C (3), S-1/A (3), SC 13D (3), SC 13D/A (3), DEF 14C (2), PREM14C (2), 10-KT (1), 10-Q/A (1), 144 (1), 424B3 (1), 5 (1), 8-A12G (1), 8-K/A (1), DEFM14C (1), EFFECT (1), PRER14C (1), S-1 (1)

  • Latest filingsAnnual report (10-K) Apr 15, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Latest 8-K (8-K) Oct 13, 2026

Risk factors and legal proceedings

The risks Premier Air Charter Holdings Inc. names in Item 1A of its 10-K filed Apr 15, 2026: 25 risks under these headings, as written.3

  • We will need additional capital to fund our operations, which, if obtained, could result in substantial dilution or significant debt service obligations. We may not be able to obtain additional capital on commercially reasonable terms, which could adversely affect our liquidity and financial position.
  • Geopolitical Conflicts in the Middle East, Including the War in Iran, Could Materially Increase Jet Fuel Prices and Adversely Affect Our Business, Financial Condition and Results of Operations.
  • The private aviation industry is subject to competition.
  • The supply of pilots to the airline industry is limited and may negatively affect our operations and financial condition. Increases in our labor costs, which constitute a substantial portion of our total operating costs, may adversely affect our business, results of operations, and financial condition.
  • Pilot attrition may negatively affect our operations and financial condition.
  • We may be subject to unionization, work stoppages, slowdowns, or increased labor costs and the unionization of our pilots, maintenance workers, and inflight crewmembers could result in increased labor costs.
  • We depend on our executive officers, the loss of whom could materially harm our business.
  • Significant reliance on certain third-party aircraft engine manufacturers and engine management companies poses risks to our owned and leased aircraft and operations.
  • We are exposed to operational disruptions due to maintenance.
  • Significant increases in fuel costs could have a material adverse effect on our business, financial condition, and results of operations.
  • Our insurance may become too difficult or expensive to obtain. If we are unable to maintain sufficient insurance coverage, it may materially and adversely impact our results of operations and financial position.
  • Aviation businesses are often affected by factors beyond their control including: air traffic congestion at airports; airport slot restrictions; air traffic control inefficiencies; increased and changing security measures; changing regulatory and governmental requirements; new or changing travel-related taxes; any of which could have a material adverse effect on our business, results of operations and financial condition.
The other 13 risks
  • The operation of aircraft is subject to various risks, and failure to maintain an acceptable safety record may have an adverse impact on our ability to obtain and retain customers.
  • We are subject to significant governmental regulation and changes in government regulations imposing additional requirements and restrictions on our operations could increase our operating costs and result in service delays and disruptions.
  • We are subject to various environmental and noise laws and regulations, which could have a material adverse effect on our business, results of operations, and financial condition.
  • Environmental regulation and liabilities, including new or developing laws and regulations, or our initiatives in response to pressure from our stakeholders may increase our costs of operations and adversely affect us.
  • Risks Related to Ownership of Our Common Stock and Lack of Liquidity
  • As a smaller reporting company, we are exempt from certain disclosure requirements, which could make our Common Stock less attractive to the potential investors.
  • As a public company, we will incur significant increased costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives.
  • The Financial Industry Regulatory Authority (“FINRA”) sales practice requirements may limit a stockholder’s ability to buy and sell our stock.
  • Our stock price may be volatile.
  • If securities or industry analysts do not publish research or reports about our business, or publish negative reports about our business, our share price and trading volume could decline.
  • We do not intend to pay dividends for the foreseeable future, which could reduce the attractiveness of our stock to some investors.
  • If our shares of Common Stock become subject to the penny stock rules, it would become more difficult to trade our shares.
  • Provisions in our articles of incorporation and bylaws and Nevada law may discourage, delay or prevent a change of control of our Company and, therefore, may depress the trading price of our stock.
  • We may be subject to securities litigation, which is expensive and could divert management attention.

Legal proceedings

From time to time, we may be involved in legal proceedings arising in the ordinary course of our business. Except as set forth below, we are not currently a party, and our property is not subject to, any other material pending legal proceedings, other than ordinary routine litigation incidental to the business.

On May 31, 2024, Demeter Harvest Corp. (“Demeter”) and Premier filed a Petition and Demand against Empyreal Jet, Inc. in the district court located in Harris County, Texas (Cause No. 2024-34231/Court: 281 claiming Breach of Contract, Promissory Estoppel seeking damages over $200,000 but no more than $1,000,000.

On March 11, 2025, a former employee filed a General Civil Complaint for Damages against Premier and Innoworks Employment Services, Inc. in the Superior Court of the State of California for the County of San Diego, Central Division claiming retaliation and wrongful employment termination seeking general and special damages each in the amount of $35,000 as well as punitive and exemplary damages, reasonable attorney fees, interest and such other relief.

On December 17, 2024, the Company received a notice of investigation from the Federal Aviation Administration’s San Diego Flight Standards Office (“FSDO”). The investigation was the result of a safety complaint from a former employee. The investigation was a series of inquiries related to compliance with regulations related to corrective maintenance actions, to which the Company has responded to all requests. Premier has since implemented new policies and procedures to ensure such errors do not happen again. These new policies and procedures were provided to the FDSO January 2025. The Company has been working with the FSDO and is still awaiting the results of the investigation, which may include penalties against the Company. At the time of this filing, such amounts, if any, are not estimable.

The opening of Item 3, Legal Proceedings.3

Sources

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    SEC EDGAROther events