Starfighters Space
FJET on NYSEAmerican. Market value $72m.
Should I look at this?
Look carefully before going further
Why it could be worth it
Nothing stands out yet.
Read the warning sign in its own filings
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-9.01 of spare cash last year. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: not known. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
Five years of cash, in billions
| Revenue | ||
| Revenue | $0 | $0 |
| Operating margin | ||
| Operating margin | n/a | n/a |
| Debt to equity | ||
| Debt to equity | n/a | n/a |
| Shares outstanding | ||
| Shares outstanding | n/a | n/a |
Health checks
- Free cash flow positive0 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)2 of 9
- Profit backed by cash (accruals)No
- DebtUnknown
- Revenue growth, five yearsUnknown
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 15 April 2026
- Next quarterly (estimated, 10-Q)
- 18 November 2026
Who owns it
None of the long-term investors we follow own it. 69 funds in all.
Largest holders overall
- Citadel Advisors$16mNew
- BlackRock$11mAdded
- Geode Capital Management$4mAdded
- Vanguard Capital Management$4mCut
- State Street$3mAdded
- Vanguard Portfolio Management$3mNew
- UBS Group AG$2mAdded
- Millennium Management$2mAdded
- Northern Trust$1mAdded
- Penserra Capital Management$1mNew
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
2 investors own more than 5%.
- Richard William SvetkoffInsider or founder23.9%−41.4 ptsSince 12 December 2025
- Kenneth GriffinPassive investorat least 6.3%(filed with 6 related holders)Since 30 June 2026
| Holder | Stake | Since | |
|---|---|---|---|
Richard William Svetkoff Insider or founder | 23.9%−41.4 pts | 12 December 2025 | |
Kenneth Griffin Passive investor | at least 6.3% (filed with 6 related holders) | 30 June 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 1 sold $373,875.
- Whitney David KirkChief Financial OfficerSold
- Date
- 5 January 2026
- Shares
- 37,500
- Price
- $9.97
- Value
- $373,875
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 5 January 2026 | Whitney David Kirk Chief Financial Officer | Sold | 37,500 | $9.97 | $373,875 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
2 serious warning signs in Starfighters Space’s filings.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 15 Apr 2026, plus the 10-Q filed 19 Aug 2026 and 6 later 8-Ks.
Doubt it can keep going
SeriousThe company or its auditor warned it may not have enough money to last the next year.
“These factors raise substantial doubt about the Company's ability to continue as a going concern within one year after the date of the unaudited condensed consolidated interim financial statements being issued.”
Show the full paragraph
These factors raise substantial doubt about the Company's ability to continue as a going concern within one year after the date of the unaudited condensed consolidated interim financial statements being issued. The ability of the Company to continue as a going concern is dependent upon the Company's ability to raise additional funds and implement its business plan. These unaudited condensed consolidated interim financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Such adjustments could be material.
From the 10-Q filed 19 August 2026, Part I, Item 1. Financial Statements. Read it in the filing
Weak checks on its own accounts
SeriousThe company said its checks on its own accounts did not work at the end of its latest quarter. Mistakes could slip into the numbers.
“Based on this evaluation, our principal executive officer and principal financial officer concluded that during the period covered by this report, our disclosure controls and procedures were not effective as our management has identified material weaknesses.”
Show the full paragraph
Under the supervision and with the participation of our principal executive officer and principal financial officer, we conducted an evaluation of the effectiveness of our disclosure controls and procedures as of the end of the fiscal period ended June 30, 2026, as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Based on this evaluation, our principal executive officer and principal financial officer concluded that during the period covered by this report, our disclosure controls and procedures were not effective as our management has identified material weaknesses.
From the 10-Q filed 19 August 2026, Part I, Item 4. Controls and Procedures. Read it in the filing
Changed auditor
Worth knowingThe company changed its auditor (the firm that checks its books) in the last two years.
“On July 9, 2026, Adeptus Partners, LLC ("Adeptus") notified Starfighters Space, Inc. (the "Company") of its decision to resign as the Company's independent registered public accounting firm effective immediately.”
From an 8-K filed 14 July 2026: Change of auditor. Read it in the filing
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.