PJET Announces Technology Alternative To $16 Billion In Student Housing Investment

Rhea-AI Summary

Priority Aviation, Inc. (USOTC: PJET) announced the development of a new application called SHBO (Student Housing By Owner), aiming to provide a platform for renting properties near universities. With 4,000 universities in the U.S. and only 22% of students living on-campus, there's a growing need for student housing. The SHBO app is set to beta launch by year-end 2021. Additionally, PJET is in talks to acquire a property to test its technology while generating revenue. The company is shifting its business strategy away from cannabis, focusing on this new venture.

Positive

• Development of SHBO app targeting a $16 billion student housing market.
• Potential revenue generation through acquisition of a testing property.
• Reestablishment of current information status with OTC Markets.

Negative

• Shift away from traditional cannabis business may alienate existing investors.
• High competition in student housing market from established investment firms.

DALLAS, Oct. 21, 2021 /PRNewswire/ -- Priority Aviation, Inc. (USOTC: PJET) ("PJET") today announced the company has been developing an application it expects to launch before the end of the year that is essentially the Airbnb of student housing.

The United States has approximately 4,000 universities among more than 25,000 universities globally.  Student housing is in short supply with only an estimated 22% of students living on campus.  Rents have been steadily increasing, even through Covid, since 2017.  New student housing projects are dominated by a handful of large investment firms that are putting an estimated $16 billion a year into building new student housing.

Earlier this year, PJET began developing a sharing economy application called SHBO (student housing by owner) to enable the listing of properties near universities for rent by students to include entire properties, extra rooms, and roommates.  The SHBO App is anticipated to beta launch before the end of 2021.

The company is also in discussions to acquire a physical asset that will be used to test, refine, and demonstrate the technology currently under development while generating revenue at the same time.  The property is near a university in the state of Texas.

Recently, the majority shareholder of PJET, ACI Conglomerated, has decided on a new business direction outside the cannabis industry.  ACI is also the majority shareholder of North American Cannabis Holdings, Inc. (USMJ) and Puration, Inc. (PURA).  With two business already in the cannabis marketplace, ACI is diversifying with PJET.

PJET has lately updated its required disclosures with OTC Markets to reestablish current information status. 

Look for much more to be coming soon on the company's new business direction.

Visit the company's new website periodically to look for the latest updates

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

View original content:https://www.prnewswire.com/news-releases/pjet-announces-technology-alternative-to-16-billion-in-student-housing-investment-301405951.html

SOURCE Priority Aviation Inc.

FAQ

What is the SHBO app being developed by PJET?

The SHBO app, or Student Housing By Owner, is designed to list properties for rent near universities, targeting the student housing market.

When is PJET planning to launch the SHBO app?

PJET expects to beta launch the SHBO app before the end of 2021.

What market is PJET entering with the SHBO app?

PJET is entering the student housing market, which sees yearly investments exceeding $16 billion.

What recent changes have occurred in PJET's business direction?

PJET has shifted its focus away from the cannabis industry to develop the SHBO application and other ventures.

How is PJET addressing its current information status?

PJET has updated its disclosures with OTC Markets to reestablish its current information status.