Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 138

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 14
Chunk 138
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 amount of $625,000, reflecting a 20% original issue discount. The Notes bore interest
at 5% per annum and matured on March 11, 2024.

The Company invested the sum of
$100,000 in the Notes and is recorded as “Loan Receivable” on the consolidated balance sheets at cost at December 31, 2023.
On March 11, 2024, the Notes matured and were redeemed by Jet.AI in accordance with the Bridge Agreement. The Company received an aggregate
of $141,000 upon the redemption of the Notes.

Jet.AI
and Sponsor payments

During
the year ended December 31, 2024, the Series A-1 preferred shares held by the Sponsor were redeemed by Jet.AI for an aggregate amount
of $675,000. The Sponsor distributed $393,195 to the Company representing the repayment of its extension loan of $284,765, working capital
loan of $61,906, and dividend redistribution of $46,524.

    F-28

OXBRIDGE
RE HOLDINGS LIMITED AND SUBSIDIARIES

Notes
to Consolidated Financial Statements, Continued

16.
PROPERTY AND EQUIPMENT, NET

Property
and equipment, net consist of the following (in thousands):

SCHEDULE
OF PROPERTY AND EQUIPMENT, NET

    2024  
    2023 

    At December 31, 

    2024  
    2023 

    Leasehold improvements 
    $21  
    $21 
  
    Furniture and Fixtures 
     41  
     41 
  
    Motor vehicle 
     34  
     34 
  
    Computer equipment and software 
     39  
     39 
  
    Total, at cost 
     135  
     135 
  
    less accumulated depreciation and amortization 
     (134) 
     (131)
  
    Property and equipment, net 
    $1  
    $4 

17.
SUBSEQUENT EVENTS

We
evaluate all subsequent events and transactions for potential recognition or disclosure in our consolidated financial statements.

ATM
Facility

Subsequent
to December 31, 2024, and through the date of issuance of these financial statements, we sold an additional 97,715 ordinary shares under
the ATM program for gross proceeds of $448,858, at an average price $4.59 per ordinary share.