Saker Aviation Services, Inc.

Overview

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• TickerSKAS on OTC¹
• IndustryAirports, Flying Fields & Airport Terminal Services¹
• HeadquartersNew York, New York¹
• Incorporated inNV²
• Business address885 2Nd Avenue, New York, Ny 10017²
• Filer categoryNon-accelerated filer, Smaller reporting company²

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Saker Aviation Services, Inc. (“we,” “us,” “our” or the “Company”) is a Nevada corporation. Our common stock, $0.03 par value per share (the “common stock”), is quoted on the OTCQB Marketplace (“OTCQB”) under the symbol “SKAS”. We previously served as the operator of a heliport and currently have limited operations.⁴ From its latest annual report

Corporate structure

Saker Aviation Services, Inc. sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Saker Aviation Services, 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

Investments

Inventory

Properties, in its own words

As of March 31, 2026, the Company has no leased offices.

Item 2 of the 10-K filed Mar 31, 2026.⁴

Leadership

Who has led Saker Aviation Services, Inc., and when. Pick a name to see everywhere that person has worked.

• Chief executive officerWilliam B. Wachtel Apr 30, 2025 to now¹⁴
• Chief executive officerRonald J. Ricciardi Oct 28, 2010 to Oct 28, 2010¹⁵
• Chief executive officerJohn H. Dow May 2, 2007 to Feb 14, 2008¹⁶
• ChairRonald J. Ricciardi Jun 15, 2006 to Jun 15, 2006¹⁷
• PresidentWilliam B. Wachtel Apr 30, 2025 to now¹⁴
• PresidentRonald J. Ricciardi Oct 28, 2010 to Dec 3, 2021¹⁵
• PresidentJohn H. Dow May 2, 2007 to Feb 14, 2008¹⁶
• Chief financial officerKeith P. Bleier May 2, 2007 to Oct 23, 2008¹⁸
• Chief operating officerGary E. Hart Oct 2, 2008 to Oct 2, 2008¹⁹
• Chief operating officerRobert J. Ettinger Jun 15, 2006 to Jun 15, 2006²⁰

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

• FirstFlight Heliports, LLC d/b/a Saker Aviation Services, Inc. New York³

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

• FirstFlight, Inc.Jan 4, 2007 to Aug 19, 2009²
• FBO AIR, INC.Oct 1, 2004 to Dec 29, 2006²
• SHADOWS BEND DEVELOPMENT INCFeb 22, 2001 to Aug 27, 2004²

Timeline

1. Apr 30, 2025New chief executive William B. Wachtel becomes CEO¹⁴
2. Apr 30, 20258-K Executive or director change³³
3. Mar 6, 20258-K Entered a material agreement³⁴
4. Mar 3, 20258-K Executive or director change³⁵
5. Dec 12, 20248-K Executive or director change³⁶
6. Nov 22, 20248-K Other events³⁷
7. Jul 12, 20248-K New debt or obligation³⁸
8. Dec 19, 20238-K Entered a material agreement³⁹
9. May 4, 20238-K Entered a material agreement⁴⁰
10. Nov 2, 20228-K Completed an acquisition or sale⁴¹
11. Oct 3, 20228-K Entered a material agreement⁴²
12. Jul 11, 20228-K Executive or director change⁴³
13. Jun 29, 20228-K Executive or director change⁴⁴
14. Oct 28, 2010New chief executive Ronald J. Ricciardi becomes CEO¹⁵
15. May 2, 2007New chief executive John H. Dow becomes CEO¹⁶

Filings

76 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 12 major events, 29 insider forms, 10 large holders, 4 other. The latest 20:

1. Aug 17, 20264 OWNERSHIP DOCUMENT EDGAR
2. Aug 14, 202610-Q EDGAR
3. Jun 11, 2026SCHEDULE 13D EDGAR
4. May 15, 202610-Q EDGAR
5. Mar 31, 202610-K EDGAR
6. Feb 3, 2026SCHEDULE 13G/A EDGAR
7. Dec 2, 20254 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
8. Nov 7, 202510-Q/A EDGAR
9. Nov 3, 202510-Q EDGAR
10. Aug 14, 202510-Q EDGAR
11. May 15, 202510-Q EDGAR
12. Apr 30, 20254 EDGAR
13. Apr 30, 2025SCHEDULE 13D/A EDGAR
14. Apr 30, 20258-K EDGAR
15. Apr 29, 2025SCHEDULE 13D/A EDGAR
16. Apr 29, 20254 EDGAR
17. Apr 15, 202510-K EDGAR
18. Mar 28, 2025NT 10-K EDGAR
19. Mar 6, 20258-K EDGAR
20. Mar 3, 20258-K EDGAR

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

Insider trades

4 open-market trades by officers, directors and large owners since October 2021: 2 buys and 2 sales. Grants, option exercises and gifts are left out.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

• ERIKSEN CAPITAL MANAGEMENT LLCSCHEDULE 13D, 4 filings Jan 10, 2024 to Jun 11, 2026⁴⁵
• William B. WachtelSCHEDULE 13D/A, 2 filings Dec 21, 2023 to Apr 30, 2025⁴⁶
• Marc ChodockSCHEDULE 13D/A, 2 filings Dec 4, 2023 to Apr 29, 2025⁴⁷
• Ravi Ramesh DesaiSC 13D/A, 2 filings Mar 2, 2022 to Mar 15, 2023⁴⁸

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA⁴⁹. Matched to this company by name and state.

1. Aug 5, 2020$304.8K PPP loan (first draw) from KeyBank National Association⁴⁹To SAKER AVIATION SERVICES, INC., New York NY; $307.4K forgiven Jun 28, 2021

SEC filer profile

How Saker Aviation Services, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

• Name on EDGARSaker Aviation Services, Inc.¹
• CIK0001128281
• Employer ID (EIN)87-0617649⁴
• Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company⁴
• Incorporated inNevada⁴
• Fiscal year endsDecember 31¹
• Industry code (SIC)4581 Airports, Flying Fields & Airport Terminal Services¹
• SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance¹
• Business address885 2Nd Avenue, New York, NY 10017¹
• Phone212-909-9500¹
• Shares outstanding1,010,514 as of Aug 14, 2026¹²
• Public float$5.7M as of Jun 30, 2025⁴
• AuditorKronick Kalada Berdy & Co. P.C., Kingston, Pennsylvania PCAOB ID 448; no auditor attestation of internal control over financial reporting⁴
• On EDGAR sinceFeb 22, 2001¹
• Filings463 in all: 4 (106), 8-K (74), 10-Q (56), 3 (24), 10QSB (20), 10-K (19), NT 10-Q (17), POS AM (13)¹
  All 37 form types

  UPLOAD (13), NT 10-K (12), SC 13D (10), CORRESP (9), DEF 14A (9), 5 (8), 424B3 (7), 8-K/A (7), 10KSB (6), 10-Q/A (5), EFFECT (5), SB-2/A (5), SC 13D/A (5), 3/A (4), 4/A (4), AW (3), SB-2 (3), SC 13G (3), ARS (2), PRE 14A (2), S-8 (2), SCHEDULE 13D/A (2), SCHEDULE 13G/A (2), 10KSB/A (1), 5/A (1), 8-A12G (1), NTN 10Q (1), REGDEX (1), SCHEDULE 13D (1)

• Latest filingsAnnual report (10-K) Mar 31, 2026
  Quarterly report (10-Q) Aug 14, 2026
  Proxy statement (DEF 14A) Oct 25, 2019
  Latest 8-K (8-K) Apr 30, 2025

Risk factors and legal proceedings

The risks Saker Aviation Services, Inc. names in Item 1A of its 10-K filed Mar 31, 2026: 10 risks under these headings, as written.⁴

• The operation of the Downtown Manhattan Heliport was our main source of revenue. While we are now providing financial advisory services, if we are unable to find additional financial advisory customers or alternative revenue streams we may cease operating.
• Any additional losses of key employees and our sole executive officer and director may prevent us from winding up the business in an orderly way.
• If we are deemed to be an investment company under the 1940 Act, we may be required to institute burdensome compliance requirements and our activities may be restricted. In such an event, our business would likely be materially and adversely affected.
• We have been subject to environmental laws that could have imposed significant costs on us and the continued liability for failure to comply with such laws could have subjected us to sanctions and material fines and expenses.
• Our internal control over financial reporting has inherent limitations, and even effective controls may not prevent or detect all errors or instances of fraud.
• There is no active market for our common stock, which makes our common stock less liquid.
• Our common stock is subject to the penny stock rules, which makes our common stock less liquid.
• Our management team currently has the ability to influence stockholder votes.
• Potential additional financings, the granting of additional stock options and any anti-dilution provisions in potential future derivative securities could further dilute our existing stockholders.
• Our Board of Director’s right to issue shares of preferred stock could adversely impact the rights of holders of our common stock.

Legal proceedings

Empire Aviation, LLC (“Empire”) and the Company were parties to a certain Management Agreement (the “Management Agreement”) effective November 1, 2008. The Management Agreement terminated on April 30, 2023. As previously disclosed in the Company’s 2023 Annual Report on Form 10-K, Note 10. Contingent Liabilities. Empire Aviation notified the Company that it believes additional fees (“Management Fees”) are due under the Management Agreement.

On March 14, 2024, the Company and Empire participated in an arbitration of this dispute. In their filing, Empire claimed that Saker failed to pay Empire certain Management Fees in various months throughout the term of the Management Agreement. Of this amount, approximately $350,000 had been accrued by the Company in 2023 and included in the Company’s Condensed Consolidated Statement of Operations in selling, general and administrative expenses and the Condensed Consolidated Balance Sheet in accounts payable. Saker asserted numerous defenses including, but not limited to, Empire waiving its rights to such fees by the parties’ course of conduct. Further, Saker asserted counterclaims against Empire.

On July 8, 2024, the Company was notified of the arbitrator's decision. The arbitrator found in favor of Empire in the amount of $1.4 million (the “Judgement Amount”), such amount representing approximately $1,036,000 in unpaid Management Fees due under the Management Agreement plus accrued interest of approximately $363,000. The Judgement Amount was immediately payable and accrued per diem interest of $511.08 for each day until it was paid in full. On July 10, 2024, the Company paid Empire the Judgement Amount including per diem interest through the date of payment. The Company recorded Litigation Expense of $1,054,200 at June 30, 2024, representing the difference between the Judgement Amount and the expense accrued by the company in 2023. The Company did not appeal the arbitrator’s decision.

The opening of Item 3, Legal Proceedings.⁴