PJET Adapts Growth Strategy To Prevailing Market

Rhea-AI Summary

Priority Aviation, Inc. (PJET) released a shareholder update on May 11, 2022, detailing its high-growth strategy amid challenging market conditions. CEO Steven Rash expressed optimism but acknowledged the need to adapt plans due to a lack of investment opportunities. The company will focus on a phased rollout of its Student Housing By Owner (SHBO) software and reduce marketing expenditure for the initial app launch. Rash emphasized sustainability through strategic decision-making, computing feedback for future updates while delaying infrastructural investments until market conditions improve.

Positive

• Strategic tapering of marketing expenses to enhance sustainability.
• Focus on collecting user feedback for the SHBO APP to inform future versions.

Negative

• Current market conditions hinder investment opportunities, affecting growth.
• Sales ramp for the SHBO APP may be less robust due to reduced marketing.

Dallas, Texas, May 11, 2022 (GLOBE NEWSWIRE) -- Priority Aviation, Inc. (OTC Pink: PJET) (“PJET”) today addressed the company’s ongoing high-growth strategy within the prevailing market conditions.  CEO Steven Rash released an update discussing the company’s evolving plans.  The update is included in its entirety below:

Dear Shareholders:

As a serial entrepreneur with more years under my belt than I care to admit I live with an optimistic outlook of the future and nothing in the prevailing market has changed that.

Maintaining a long-career as an entrepreneur has also required me to balance my optimism with a healthy dose of practicality.

I have often spoken with investors throughout my career about the inverse relationship between time and investment.  With more investment, a business plan can be executed in a shorter period of time.  Conversely, less investment results in a longer execution period.

The prevailing market conditions are not conducive to fostering investment.

PJET is an early-stage business that will require investment to achieve its objectives.

While I am optimistic that the prevailing market conditions will improve, in the meantime, I believe it is prudent to pace our planned growth to fit the market conditions.

Our investment in the development of our Student Housing By Owner (SHBO) software is already under our belt.  We will be rolling out the SHBO APP soon.  Given the prevailing market conditions, we will taper back on the marketing of the new APP and otherwise rely on internal, inhouse resources to market the rollout.

The sales ramp may be at a less robust incline than if we invested more in marketing.  At the same time, the tapered investment will enhance our sustainability.  We will weather the market bear-storm, collect feedback on version one of the SHBO APP to be included in version two, and plan for a grander marketing plan behind version two.

We will also idle our planned investment in building the physical infrastructure originally intended to give us hands on input into the evolution of the SHBO APP.  At this time, we’ll rely on the feedback we get from the impending rollout of SHBO APP V 1.0.

This market is not my first rodeo.  I am confident we can taper back our plans to sustain through this market until we have the opportunity to ride the bull again.

Sincerely,
Steven Rash
CEO
PJET

Company Website – www.pjet-info.com

Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.

Contact:
Steven Rash
Info@pjet-info.com
+1 (800) 861-1350

FAQ

What is PJET's current growth strategy as of May 2022?

PJET's growth strategy involves a phased rollout of its SHBO software while adapting to challenging market conditions by reducing marketing expenditure.

How is PJET planning to market its new SHBO APP?

PJET plans to taper back on marketing for the SHBO APP and rely on internal resources, focusing on sustainability.

What challenges is PJET currently facing in the market?

PJET is facing challenges due to unfavorable market conditions that hinder investment, impacting its growth plans.

What feedback strategy has PJET implemented for its SHBO APP?

PJET will collect feedback from users of version 1.0 of the SHBO APP to inform improvements and marketing for version 2.