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STOCKHOLDERS’ EQUITY (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2024

Dec. 31, 2023

Equity [Abstract]

SCHEDULE OF STOCK OPTIONS ACTIVITY

A summary of our stock option activity for the six months ended June 30, 2024 and 2023, is as follows:

SCHEDULE OF STOCK OPTIONS ACTIVITY

		Number of Shares				Weighted Average Exercise Price				Weighted average Remaining Contractual Term
Outstanding at December 31, 2022			3,216,408			$	6.48				8.06
Granted			68,080				10.42				10.00
Exercised			-				-				-
Forfietures			(15,473	)			10.42				9.50
Outstanding at June 30, 2023			3,269,015				6.59				7.64

		Number of Shares				Weighted Average Exercise Price				Weighted average Remaining Contractual Term
Outstanding at December 31, 2023			3,659,015			$	6.14				7.37
Granted			-				-				-
Exercised			-				-				-
Forfietures			-				-				-
Outstanding at June 30, 2024			3,659,015			$	6.14				6.87
Exercisable at June 30, 2024			3,265,402			$	6.91				6.70

A summary of our stock option activity for the years ended December 31, 2023 and 2022, is as follows:

SCHEDULE OF STOCK OPTIONS ACTIVITY

		Number of Shares				Weighted Average Exercise Price				Weighted average Remaining Contractual Term
Outstanding at December 31, 2021			2,932,392			$	6.09				8.93
Granted			284,016				10.42				10.00
Exercised			-				-				-
Forfeitures			-				-				-
Outstanding at December 31, 2022			3,216,408				6.48				8.06
Granted			458,080				3.91				10.00
Exercised			-				-				-
Forfeitures			(15,473	)			(10.42	)			-
Outstanding at December 31, 2023			3,659,015			$	6.19				7.40
Exercisable at December 31, 2023			2,943,807			$	7.64				7.10

SCHEDULE OF OUTSTANDING WARRANTS

The number of outstanding warrants issued by the Company as of June 30, 2024 is as follows:

SCHEDULE OF OUTSTANDING WARRANTS 

Warrant		Expiration Date		Exercise Price				Number Outstanding
JTAIW Warrants		8/11/2028		$	11.50				15,608,554
JTAIZ Warrants		8/11/2033		$	15.00				7,433,405
GEM Warrants		8/11/2026		$	8.40				2,179,447
Total									25,221,406

Number of outstanding warrants as of December 31, 2023 is as follows:

SCHEDULE OF OUTSTANDING WARRANTS

Warrant		Expiration Date		Exercise Price				Number Outstanding
JTAIW Warrants		8/11/2028		$	11.50				16,362,149
JTAIZ Warrants		8/11/2033		$	15.00				7,433,405
GEM Warrants		8/11/2026		$	8.40				2,179,447
Total									25,975,001

SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS

The Company estimates the fair value of stock options that contain service and/or performance conditions using the Black-Scholes option pricing model. The range of input assumptions used by the Company were as follows:

SCHEDULE OF STOCK OPTIONS VALUATION ASSUMPTIONS

		2023				2022
Expected life (years)			6 to 10				6 to 10
Risk-free interest rate			3.55% - 4.55	%			1.43% - 4.10	%
Expected volatility			90	%			80	%
Annual dividend yield			0	%			0	%
Per share grant date fair value		$	2.58			$	17.47

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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