b'SEC REGULATION OF OFFERINGS AND ETFsJet Token, Inc. (File No. 024-11103) The offering circular explained that, while Jet Tokens (Feb. 18, 2020) are currently being developed and tested, Jet Token On February 18, 2020, the SEC qualified an offeringintends to structure Jet Tokens in such a way so as not of non-voting common stock of Jet Token, Inc.to be considered securities.under Regulation A (Tier II), commonly referred to as Regulation A+. Regulation A+ is sometimes described as a mini-IPO because it allows companies to raise up to $50 million in any rolling 12-month period and isJet Token, a private jet charter broker service, is not limited only to accredited investors, but the issueroffering an aggregate of 33,333,333 shares of non-must file periodic disclosures with the SEC that arevoting common stock (automatically convertible similar to (but less onerous than) those for publicly1:1 into the same amount of voting common stock registered companies. of Jet Token upon an IPO of such voting stock Jet Token, a private jet charter broker service, isor a merger) at a price of US $0.30 per share. offering an aggregate of 33,333,333 shares of non- The offering circular stated that the proceeds voting common stock (automatically convertible 1:1of the offering would (1) fund development and into the same amount of voting common stock of Jetexpansion of Jet Tokens business, including the Token upon an IPO of such voting stock or a merger)development of its proprietary digital asset known at a price of US $0.30 per share. The offering circular stated that the proceeds of the offering would (1) fundas Jet Tokens, the acquisition of certain business development and expansion of Jet Tokens business,jet aircraft, marketing costs, and other operating including the development of its proprietary digitalexpenses, and (2) provide working capital for other asset known as Jet Tokens, the acquisition of certaingeneral corporate purposes, such as acquisitions business jet aircraft, marketing costs, and otherand joint ventures.operating expenses, and (2) provide working capital for other general corporate purposes, such as acquisitions and joint ventures. The offering circular described Jet Tokens proposed enhanced platformcurrently anIn April 2019, the SEC issued its first no-action letter iOs application that provides a search-and-quotationin connection with a token sale to TurnKey Jet, Inc., a service for private jet travel with third-party carrierslicensed U.S. air carrier and air taxi operator providingwhich would in the future allow users to makeinterstate air charter services. TurnKey Jet proposed to payments directly through the app, integrate a closedoffer and sell digital assets in the form of tokenized Ethereum-based blockchain network, and permitjet cards (Cards), which the SEC confirmed would users to purchase and redeem Jet Tokens for travel. 9'