Home / Going-concern warnings / SURF AIR MOBILITY INC.
Filed 2025-05-13 路 Form 10-Q 路 Accession 0000950170-25-070437 micro
Price before filing: $2.74 (2025-05-12 close, split/dividend-adjusted)
Market cap at flag: $60.0M (2025-05-13) 路 Latest: $86.7M (2026-10-16)
| Window | SRFM | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -18.6% | +3.6% | -22.2% | 2025-06-12 |
| 90 days | +50.4% | +9.4% | +41.0% | 2025-08-11 |
| 180 days | +14.6% | +17.6% | -3.0% | 2025-11-10 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider sold $93K (1 sale); 1 insider bought $947K (1 purchase)
30 days after: 2 insiders sold $209K (3 sales)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-03-25 | Palantir Technologies Inc. 10% owner | Purchase | 244,011 | $3.88 | $947K | no | Form 4 |
| 2025-03-26 | Painter Tyler Director | Sale | 25,417 | $3.65 | $93K | yes | Form 4 |
| 2025-05-13: red flag filed | |||||||
| 2025-05-21 | Bland Tyrone D. Director | Sale | 6,065 | $2.46 | $15K | no | Form 4 |
| 2025-05-22 | Bland Tyrone D. Director | Sale | 3,984 | $2.46 | $10K | no | Form 4 |
| 2025-06-03 | Shahani Sudhin Director | Sale | 75,840 | $2.43 | $184K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-02-12 to 2025-06-12. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"These factors raise substantial doubt about the Company's ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-03-31)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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