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Saker Aviation Services, Inc. insider filings report that entities associated with Howard Timothy Eriksen, a ten percent owner, purchased 5,500 shares of common stock on 2026-08-14 at $5.84 per share in an indirect transaction. Following this purchase, affiliated entities held 172,801 indirectly owned shares, while Eriksen also held 9,678 shares directly. The indirectly owned shares are held by Cedar Creek Partners LLC and managed accounts of Eriksen Capital Management LLC, and Eriksen disclaims beneficial ownership beyond his pecuniary interest.
Saker Aviation Services, Inc. reported that for the six months ended June 30, 2026 it generated $30,000 of revenue entirely from new strategic financial advisory services, compared with $1,260,756 a year earlier when it still operated the Downtown Manhattan Heliport. The company recorded a six‑month net loss of $244,510, an improvement from a net loss of $780,939 in the prior‑year period, driven mainly by sharply lower selling, general and administrative expenses, which fell to $383,185 from $1,376,364.
As of June 30, 2026, Saker reported $4,249,563 in cash and cash equivalents, U.S. Treasury investments of $3,755,580, total assets of $8,653,820 and total liabilities of $159,753, resulting in stockholders’ equity of $8,494,067. The company highlighted a working capital surplus of $8,494,067 and no borrowings under its $500,000 Key Bank revolving credit facility. It has a Covenant Not to Compete Agreement requiring payments totaling $276,923 over 18 months and disclosed ongoing litigation in New York related to the prior heliport concession. Management concluded internal control over financial reporting was not effective due to a material weakness linked to governance structure and limited segregation of duties and is pursuing remediation, including establishing an audit committee.
Cedar Creek Partners LLC, Eriksen Capital Management LLC and Tim Eriksen report a 17.5% beneficial stake in Saker Aviation Services, Inc. common shares. They collectively own 176,979 shares, based on 1,010,514 shares outstanding as of May 15, 2026.
The group acquired shares in open-market purchases using working capital from Cedar Creek Partners, Eriksen Capital Management managed accounts, and Mr. Eriksen, spending about $741,848, $451,664 and $76,504, respectively. They describe the position as for investment purposes but state they may seek changes in Saker’s operations, governance or capitalization, including potential transactions such as a sale or merger.
Eriksen Capital Management LLC, through various related accounts and entities, reports beneficial ownership of 132,551 common shares of Saker Aviation Services, Inc., representing 13.3% of the outstanding common stock.
The holdings include 59,728 shares held by Cedar Creek Partners LLC, 52,033 shares in separately managed accounts run by Eriksen Capital Management, 12,236 shares held by Solitron Devices Inc., and 8,554 shares held directly by Tim Eriksen. Eriksen has sole voting power over 80,518 shares and sole dispositive power over all 132,551 shares, with no shared voting or dispositive power reported.
Saker Aviation Services reported insider activity by a senior leader who is a director, 10% owner, and serves as President and CEO. On 11/30/2025, the insider exercised several stock options, acquiring 3,333 shares of common stock at $2.58 per share in two separate transactions and 3,333 shares at $3.45 per share in two transactions. Following these exercises, the insider beneficially owned 271,028 shares of common stock directly.
On the same date, the insider also received a new stock option grant for 3,333 shares of common stock at an exercise price of $6.8 per share, exercisable beginning 12/01/2026 and expiring on 12/01/2030. The filing notes this option was granted under the company’s 2019 Stock Incentive Plan in a transaction exempt under Rule 16b-3.
Saker Aviation Services (SKAS) filed an amended Q3 2025 report showing a sharp operational downturn after losing its Downtown Manhattan Heliport concession effective March 29, 2025. With operations halted, Q3 revenue was $0 and the company posted a net loss of $163,931 (basic and diluted loss per share $(0.16)).
For the nine months ended September 30, 2025, revenue was $1,260,756 versus $6,466,973 a year ago, and net loss was $944,870 versus net income of $736,868 in 2024. SG&A for Q3 was $264,319, partially offset by other income of $100,388 including interest income of $90,008.
Liquidity remains solid: cash and cash equivalents were $4,790,773 and U.S. Treasury investments were $3,669,746 (Level 2) as of September 30, 2025. Working capital surplus was $8,812,218. The company recorded a non-compete arrangement totaling $276,923 payable over 18 months starting April 2025. Shares outstanding were 997,182 as of November 7, 2025.
Saker Aviation Services (SKAS) filed its Q3 2025 10‑Q, reflecting a halt in operations and sharply weaker results. The Downtown Manhattan Heliport concession was terminated effective March 29, 2025, and the company reports Q3 revenue of $0 and a Q3 net loss of $163,931.
For the nine months ended September 30, 2025, revenue was $1,260,756 versus $6,466,973 a year ago, with a net loss of $944,870. SG&A totaled $1,640,683, which the company attributes in part to a one‑time deferred compensation charge tied to a Covenant Not To Compete. Other income included $250,505 of interest and $38,287 in gains on investments. Cash and cash equivalents were $4,790,773 and working capital surplus was $8,812,218 as of September 30, 2025. The company states it had no operations in Q2 and Q3 2025 and is reviewing alternative business activities as a new source of revenue. Shares outstanding were 997,182 as of November 7, 2025.