Home / Going-concern warnings / SURF AIR MOBILITY INC.
Filed 2025-08-12 路 Form 10-Q 路 Accession 0000950170-25-107462 micro
Price before filing: $4.12 (2025-08-11 close, split/dividend-adjusted)
Market cap at flag: $87.6M (2025-08-12) 路 Latest: $86.7M (2026-10-16)
| Window | SRFM | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +0.5% | +3.4% | -2.9% | 2025-09-11 |
| 90 days | -23.8% | +7.5% | -31.2% | 2025-11-10 |
| 180 days | -48.1% | +9.7% | -57.8% | 2026-02-09 |
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: 3 insiders sold $393K (5 sales); 1 insider bought $2.2M (1 purchase)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 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 |
| 2025-06-18 | Palantir Technologies Inc. 10% owner | Purchase | 1,040,557 | $2.07 | $2.2M | no | Form 4 |
| 2025-06-24 | Painter Tyler Director | Sale | 18,583 | $4.00 | $74K | yes | Form 4 |
| 2025-06-25 | Painter Tyler Director | Sale | 22,000 | $5.00 | $110K | yes | Form 4 |
| 2025-08-12: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-05-14 to 2025-09-11. 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 2025-06-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
The week's most serious auditor changes, restatements, late filings and going-concern warnings, in plain English. Free. Unsubscribe anytime.
Subscribe to the newsletter →
The signup form didn't load here (often an ad or privacy blocker). This opens beehiiv's secure signup page.
Form not showing? Subscribe on beehiiv →
Newsletter delivered by beehiiv. See our privacy policy.