Home / Going-concern warnings / SURF AIR MOBILITY INC.
Filed 2026-05-11 路 Form 10-Q 路 Accession 0001193125-26-216903 nano
Price before filing: $1.35 (2026-05-08 close, split/dividend-adjusted)
Market cap at flag: $28.2M (2026-05-11) 路 Latest: $86.7M (2026-10-16)
| Window | SRFM | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -19.3% | -1.7% | -17.6% | 2026-06-10 |
| 90 days | -37.0% | +5.1% | -42.1% | 2026-08-10 |
| 180 days | pending | pending | until 2026-11-07 |
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: 2 insiders sold $212K (4 sales)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-04-16 | Reeves Oliver Chief Financial Officer | Sale | 14,437 | $1.31 | $19K | no | Form 4 |
| 2026-04-16 | White Deanna Leigh Chief Executive Officer | Sale | 13,860 | $1.31 | $18K | no | Form 4 |
| 2026-05-08 | Reeves Oliver Chief Financial Officer | Sale | 76,569 | $1.31 | $101K | no | Form 4 |
| 2026-05-08 | White Deanna Leigh Chief Executive Officer | Sale | 56,884 | $1.31 | $75K | no | Form 4 |
| 2026-05-11: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2026-02-10 to 2026-06-10. 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 2026-03-31)
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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