Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 68

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 13
Chunk 68
---
 SUBSIDIARIES 

Notes
to Consolidated Financial Statements, Continued

4.
INVESTMENTS

The
Company from time to time invests in fixed-maturity securities and equity securities, with its fixed-maturity securities classified as
available-for-sale. At December 31, 2024 and 2023, the Company did not hold any available-for-sale securities.

There
were no sales of equity securities in 2023. Proceeds received, and the gross realized gains and losses from sale of equity securities,
for the year ended December 31, 2024 are as follows:

 SCHEDULE
OF PROCEEDS RECEIVED, GROSS REALIZED GAINS AND LOSSES FROM SALE OF EQUITY SECURITIES

    Equity securities, Gross proceeds from sales  
    Equity securities, Gross Realized Gains  
    Equity securities, Gross Realized Losses 

    Gross proceeds from sales  
    Gross Realized Gains  
    Gross Realized Losses 

    ($ in thousands) 

    Year ended December 31, 2024 

    Equity securities 
    $307  
    $               -  
    $              - 

Other
Investments 

On
August 7, 2023, Oxbridge Acquisition Corp. (“OXAC”) held an extraordinary general meeting at which the business
combination with Jet Token, Inc. was approved by OXAC shareholders. In conjunction with the business combination, OXAC was
redomesticated as a Delaware entity, and changed its name to Jet.AI Inc (“Jet.AI”). The business combination was closed on August 10, 2023,
and on August 11, 2023, OXAC common stock and warrants began trading on the Nasdaq Global Market under the new ticker symbols JTAI
and JTAIW.

The
Company’s beneficial interests in Jet. AI’s common stock, public warrants and Series A-1 Preferred Shares are recorded at
fair value and are classified in “Other Investments” on the consolidated balance sheets. The fair value calculation of the
Company’s beneficial interest in Jet.AI’s common stock and public warrants is dependent on the observable trading prices
of JetAI’s common stock and public warrants. The fair value calculation of the Company’s beneficial interest in the Series
A-1 Preferred Share is estimated to be the pro-rata original principal amount of the Preferred Share due to the short-term nature.

The