Jet‐A, LLC

600 Hayden Circle

Allentown, PA 18109

Date: July 6, 2011 

Katy O'Toole

U.S. Department of Transportation

Office of Aviation Analysis

Air Carrier Fitness Division (X-56)

Subject: Jet-A, LLC Department of Transportation Application 

Dear Katy: 

As required by regulations we have provided the following documents: 

1. Gerry Sykes resume 

2. Robert Hariri resume 

3. Proof of funding/verification of deposit to meet Dept Financial Fitness test 

4. Balance sheet for June 28, 2011 

5. P&L Jan-June28, 2011 

6. P&L for 2010 

The contents of this application and the attached exhibit (s) are true and correct to the best of 

my knowledge and belief. Pursuant to Title 18 United States Code Section 1001, I [the 

individual signing the application, who shall be a principal owner, senior officer, or internal 

counsel of the applicant], in my individual capacity and as the authorized representative of the 

applicant, have not in any manner knowingly and willfully falsified, concealed or failed to 

disclose any material fact or made any false, fictitious, or fraudulent statement or knowingly 

used any documents which contain such statements in connection with the preparation, filing or 

prosecution of the application. I understand that an individual who is found to have violated the 

provisions of 18 U.S.C Section 1001 shall be fined or imprisoned not more than five years, or 

both. 

I appreciate your consideration and assistance. 

Regards, 

Signed Electronically 

Michael Origel 
GERALD E SYKES JR.

13 BROOKLYN RD POMFRET CENTER CONNECTICUT 06259

Telephone: cell 860-753-1307 home 860-974-0067

E-mail gerry@sykesco.us

Home fax 860-974-3954

OBJECTIVE

Continue using my aviation experience and applying them where necessary to continue working 

in aviation.

EXPERIENCE

Jet-A, LLC - Part 135 Air Carrier (Allentown, PA) Chief Inspector/ A&P Mechanic - 12/08 

to Present - Challenger 600-1073, 1007 Lear 24-326, Columbia 400 and Cessna 421. Complied 

with a 50/100hr 12/24/48 month in-house inspection as Chief Inspector. Complied with 300hr. 

12 mos. inspections on the challenger to include the 400hr/hot section on the APU. Inspect and 

conduct/perform maintenance needs of managed aircraft.

Total Aircraft Services (Brainard, CT) Heavy Structures Technician - 8/09 to 1/10

Contractor - Repair an A36 Beechcraft and an Epic (Composite Jet) both have landed gear up.

SYKES Company - President - 8/08 to Present

Inventor of the BrunoBar I was issued a U.S. patent on 3/08. I started up a company, all tax ID 

numbers and applicable accounts and website (www.brunobar.com) associated with a company 

to sell my new tool. I have purchased tools and equipment necessary to attend and I have 

attended home shows to promote the tool. I sell them in 8 local stores as well as on my website. I 

have researched and selected a manufacturing plant in the U.S.A. that now manufactures the 

BrunoBar for me. I received my First shipment from them 10/08. 

New World Jet / Jet Aviation Business Jets (Bedford, MA) Crew Chief - 4/06 to 7/08

Challenger 601-3A/ER s/n 5021 Based at KBED. Duties include; maintaining the airworthiness 

of the aircraft. Aircraft flight department/office manager. Plan, conduct, identify support needs 

and execute all maintenance and budgets regarding the aircraft. Large inspections managed were 

PreBuy, Paint/Mods, Mode S Enhancement and 240mo Inspection/CPCP.

JET AVIATION (Bedford, MA) Maintenance Supervisor - 10/05 to 3/06

Duties include: Supervise and lead day and second shifts, 10 A&P techs. Duties include hire and 

fire employees as needed. Perform evaluation, and mentoring as required. To perform 

inspections, drop in and A.O.G. aircraft maintenance on all models of Falcon, Challenger, 

Citiation, Learjet, Hawker, Gulfstream, Kingair, and various piston twins and singles. RII Q.C. 

Inspector. Engine run and taxi qualified on Falcon, Kingair, Hawker, Citiation, and Learjet.
BOMBARDIER AEROSPACE AKA: CANADAIR LEARJET (BRADLEY 

INTERNATIONAL AIRPORT, BRADLEY, CT) - 1/97 to 9/05

Aircraft Maintenance, Duties include: Maintaining CHALLENGER 600, 601, 604, CL 601 RJ, 

800. 2.5yrs. GLOBAL EXPRESS 6mos. LEARJET 31,35,36,40,45,45XR,55,AND 60 MODELS 

5.5yrs.to include any and all maintenance, inspections, modifications and service repairs, 

windshield cabin window inspection (prism) and repair (micromesh) as well as heavy scratch or 

crazing removal, N.D.T. Inspector florescent penetrant, eddy current, ultra sound level H, heavy 

structures cradling, fuselage skins, Qualified to operate bridgeport,and lathes, currently Q.C. 

Inspector.

Achievements/Experience: A&P License; florescent Penetrant Level II Inspector; eddy current 

level II, back up lead 4 yrs. preformed numerous successful road trips to support customers all 

over New England ,Co, Il. Tx. Va. Wv. Ny. Nj. Harvey Silver Training Seminar.

NEW ENGLAND AERO SERVICES, INC. (DANIELSON, CT) IA. Assistant/Aircraft 

Maintenance - 9/95 to 2/99, Training to become an I.A. Inspector. Duties include: Re-skinning 

and rigging flight controls, preventative maintenance, installing various modifications to aircraft 

such as speed mods, smoke systems, G.E.M. installations, improving lighting systems, 

troubleshooting discrepancies, de-ice boot repair and maintenance on a variety of light aircraft to 

include T-6s.

AIR FORCE RESERVE (WESTOVER, MA) Aeronautical Repairman - 7/91 to 2/97

Duties include: Inspecting, maintenance, repairing in rigging of the landing gear, flight controls, 

ramps, doors, and visors on the C-5 Galaxy.

During this time, I left Westover for 1 year to work with the Navy Reserve in their “I” level 

maintenance shop at South Weymouth N.A.S. Duties include: Inspecting, repairing, rebuilding 

and testing all types of hydraulic components, performing

various non-destructive testing of aircraft parts (using the following methods: Eddy current, 

fluorescent penetrant, ultrasonic and magnetic particle), replacing and repairing tire, wheel and 

brake assemblies, performing structural repairs on many different components removed from 

service due to damage or failure.

FLEXCON (SPENCER, MA) MACHINE ASSISTANT OPERATOR - 9/92 to 6/95 

WYMAN GORDON (WORCESTER. MA) - MACHINEST/FORKLIFT MAINTENANCE

- 9/89 to 5/91

U.S. NAVY (NAS OCEANA, VA) AVIATION STRUCTRAL MECHANIC - 7/85 to 7/89

FOR A-6E, A-6 G, and KA6D, 

Duties Include: Inspecting (Collateral Duty! Inspector), tire and wheel maintenance technician, 

hydraulic contamination analysis technician, non-destructive inspector operator, final inspector 

on the flight-deck of aircraft carriers, and preventative and heavy maintenance.

Achievements: Commending letter for outstanding leadership, untiring dedication and 

exceptional technical abilities, work center tool control petty officer, work center PME 

calibration officer, fully qualified under Mat Wing OJT standards for airframe work center, 

designated flight deck safety.-training PQS, qualified to work with high pressure nitrogen, 6000 

lb. military fork lift license, and all GSE gear required for job responsibilities.
EDUCATION 

 

CL 601-3A/R 11/98 initial LEAR 35/36 4/04

RVSM 2/04 LEAR 40/45/45XR 2/04

Eddy Current Inspection 4/01 LEAR 60 10/99

CL 601-3A/R 10/06 refresher CL 601-3A/R electrical interface 6/07

CL 601-3A engine run and taxi 6/07 continually attend F.A.A. training courses

A-6E/ KA-6D initial

HARVARD H. ELLIS (DANIELSON, CT) - 9/95 to 6/97

AIRCRAFT MAINTENANCE A&P LICENSE

QUABOAG REGIONAL HIGH SCHOOL (WARREN, MA) - 9/81 to 6/85

RECEIVED AWARD FOR CRAFTSMANSHIP AND AWARD CERTIFICATE IN 

INDUSTRIAL EDUCATION.

MILITARY EDUCATION

Aviation structural mechanic hydraulics Class A-I, Framp aviation structural mechanic 

organizational level maintenance, hydraulic flight control systems, petty officer third class. 

Indoctrination, career information training course, sexual harassment training, A-6 nuclear 

weapons loading training, and fluorescent penetrant inspection course.

OUTSIDE ACTIVITIES

Inventor, Riding motorcycles and ATV’s, repairing motorized vehicles, carpentry and Real 

Estate.

REFERENCES

Fran Neligon Ron Boros

Owner of Total Aircraft Owner of Jet-A llc.

860-278-0853 office 619-855-0444

860-463-9725 cell

Roy MacDowell Jr. or III Gary Boroughf

Aircraft owners Boulder Capital Manager Lowe’s/ Airport Manager Danielson

781-894-1000 860-774-6168

Joe Breen DANIEL OLM

Pilot Jet Aviation Manager/ Bombardier Aerospace

860-478-7196 860-974-3289

David Dalpiaz TOM KNOWLAND

VP Jet Aviation 860-324-0807 Avionics Bombardier Aerospace

201-462-4126
Paul Hood THOMAS PALSHAW

Project Supervisor Bombardier/BDL NDT coordinator/qc Insp. Bombardier/BDL

860-292-7247 860-875-2945

Chris Houseworth

Crew Chief Jet Aviation

781-301-3426
ROBERT J. HARIRI, M.D., Ph.D. 

CHIEF EXECUTIVE OFFICER 

CELGENE CELLULAR THERAPEUTICS

7 Powderhorn Drive, Warren, NJ 08059

Direct: 732-564-3503 Fax: 732-564-3507

E-mail: rhariri@celgene.com

PROFESSIONAL BIO 

The CEO of Celgene Cellular Therapeutics, Dr. Hariri pioneered the use of human stem cells to treat a 

range of life threatening diseases. In his career as neurosurgeon and trauma specialist at Cornell University, 

biotechnology executive, military surgeon and aviator, Dr. Hariri is most recognized for his discovery of pluripotent 

stem cells from placenta and as a member of the team which discovered TNF (tumor necrosis factor). Dr. Hariri was 

awarded the Thomas Alva Edison Award in 2007 for his discovery of placental stem cells. Dr. Hariri is Vicechairman of the Rocket Racing League and serves on numerous boards including Atlas Therapeutics and Wafergen 

and is a member of the Board of Visitors of the School of Engineering and the Science and Technology Council of

Columbia University and a Trustee of the Liberty Science Center and Commissioner of Cancer Research in New 

Jersey. 

PROFESSIONAL INDUSTRIAL POSITIONS 

Celgene Cellular Therapeutics Division of Celgene Corporation, Summit, NJ 

• Chief Executive Officer, 2005 – present; President 2002-2005 

• Division of a 25 billion dollar, publicly traded biopharmaceutical company 

• Focused on human stem and biomaterial solutions for a range of clinical indications 

Anthrogenesis Corp./LIFEBANK, Inc., Cedar Knolls, NJ 1998-2002 

• Founder, Chairman and Chief Science Officer 

• A privately held biomedical technology and service corporation involved in umbilical cord blood 

banking and its supporting technology platform 

 

Neurodynamics, Inc., New York, NY 1987-1994 

• Co-founder, Vice-Chairman, Chief Scientific Officer 

• A privately held medical device and technology corporation seed capitalized by Johnson & Johnson.

 

Forest Laboratories, Inc. (1992-1995) 

• Advisor-Pre-clinical and Clinical Development 

EDUCATION 

Columbia University School of Engineering and Applied Sciences 1976-78 

Columbia College A.B. 1980

Cornell University Graduate School of Medical Sciences 

Cornell University Medical College M.D., Ph.D. 1987 
PROFESSIONAL ACADEMIC POSITIONS 

Cornell University Medical College 

• Associate Research Professor of Surgery, 1995-1997 

• Director-The Center for Trauma Research, 1995-1997 

• Assistant Professor of Surgery (Neurosurgery), 1989-1995 

• Co-Director-The Aitken Neurosurgery Laboratory, 1988-1995 

• Instructor in Surgery (Neurosurgery), 1987-1989 

The New York Hospital-Cornell Medical Center 

• Clinical Fellow in Neurosurgery, 1990-1994 

• Resident in General Surgery, 1988-1990 

The Jamaica Hospital-Cornell Trauma Center

• Assistant Attending Physician-Dept. of Surgery, Division of Trauma, 1990-1994 

• Chairman, Institutional Review Board, 1992-1995 

• Director of Research, 1992-1995 

BOARD POSITIONS

• Liberty Science Center, Board of Trustees, 2010-

• Columbia University, School of Engineering and Applied Sciences, Board of Visitors, 2009-

• ImmuneRegen Biosciences (NASDAQ:IRBS)- Director; 2006-Present

• Semorex Corporation-Director, 2003-Present 

• Wafergen (NASDAQ:WGBS.OB)- Director 2009-

• The Stem Cell Fund-Director 2009-

• Oak Knoll School of the Holy Child-Director, Board of Trustees, 2007-Present 

• Archon XPrize in Genomics-Director, Scientific Advisory Board, 2007-Present• Semorex 

• Plasmasol-Director, 2003-2005 

• Rocket Racing League-Director and Vice Chairman, 2005-Present 

• Somerset Patriots; Atlantic League Professional Baseball Team-Director, 2004-Present

PROFESSIONAL MEMBERSHIPS 

Military Officers Association of America

The Association of Military Surgeons of the United States

The New York Academy of Sciences 

The American Heart Association 

The American Association for the Advancement of Science 

The American Society for Artificial Internal Organs 

The American Association of Blood Banks 

Joint Section-Neurotrauma & Critical Care, The American Association of Neurological Surgeons 

The Neurotrauma Society 

The Society for Critical Care Medicine, Surgical Section 
ACADEMIC AND PROFESSIONAL HONORS 

2006 Thomas Alva Edison Patent Award 

2011 Pediatric Cancer Research Foundation Dream Big Award

2007 National Multiple Sclerosis Foundation Man of the Year

2005 ALS Therapy Development Foundation Research Achievement Award

Mowrer Memorial Scholarship, Cornell University Medical College, 1983-1987 

Julian R. Rachele Prize, Cornell University Graduate School of Medical Sciences, 1987 

Outstanding Doctoral Dissertation Award, Cornell University, 1987 

Joint Section on Neurotrauma, Trauma Section Award, 1990, 1991, 1992, 1994 

Peter C. Cannizaro Award, The American Association for the Surgery of Trauma, 1993 

ADDITIONAL PROFESSIONAL EXPERIENCE

New Jersey Gubernatorial Healthcare Transition Subcommittee; 

Governor-Elect Chris Christie 2009 

Commissioner for Cancer Research, 2011-

TEACHING RESPONSIBILITIES 

Cornell University Medical College 

Third Year: Neurology Clerkship Neurosurgery Seminar: Cerebrovascular Dysfunction 

Second Year: Pathophysiology-Intracranial Hypertension 

First Year: Ethics in Medicine: Lecture-The role of the physician-scientist in the American health care 

system 

Cornell University Graduate School of Medical Sciences 

Seminar in Neuroscience: Inflammation and cerebrovascular dysfunction in brain injury 

Preceptor: Surgical Physiology 

RESEARCH INTERESTS 

• Stem cell biology and transplantation 

• Inflammation Pathophysiology of cerebrovascular dysfunction in trauma or ischemic injury 

• Pulmonary dysfunction following brain injury 

• Post-traumatic inflammation and repair 

• Biology of vasoactive inflammatory mediators 

• Microcirculation in post-traumatic wound repair 

• The role of oxygen and free radicals in inflammation and repair 

CURRENT MILITARY

Captain; General Surgeon; 244th Medical and 1102nd Forward Medical Support Detachment; 88th Brigade, 

New York Army Guard

PERSONAL 

Married to Margaret R. Meade 

Three children-Alexandra Meade Hariri, John Robert Hariri, Haley Margaret Hariri 

Commercial, Instrument, Multi-engine Rated Pilot; Type rated in Challenger 600/ 601
Prepared by

As of 06/27/2011

Balances

Acct No. 315-1816E-14-86

Gerson Guarino and Meisel

Jet-A Llc

Dr Robert J. Hariri

341 Mendham Rd

Bernardsville NJ 07924-1205

212 643 5757

Market Value % Of Assets**

Cash Account Balance $490,000.00 38.74%

Money Funds 774,961.72 61.26

Total Account Value $1,264,961.72 100.00%

** % of Assets reflects account balances as a percentage of long position & cash rounded to the nearest hundredth. As a result the total may not 

equal 100%.

Third-party and Morgan Stanley Smith Barney research on certain companies is available to clients of the firm at no cost. Clients can access 

this research at www.smithbarney.com or contact their Financial Advisor to request a copy of this research be sent to them.

Page 1 of 2
The above summary/prices/quotes/statistics have been obtained from sources believed reliable but are not necessarily complete and cannot be 

guaranteed. The information contained in client monthly account statements and confirmations reflects all transactions, and as such 

supersedes all other reports for financial and tax purposes.

Investments and services offered through Morgan Stanley Smith Barney LLC, and accounts carried by Citigroup Global Markets Inc., Members 

SIPC. © 2011 Morgan Stanley Smith Barney. 

 

 

Page 2 of 2
Jun 28, 11

ASSETS

Current Assets

Checking/Savings

UBOC SIC 1,401,049.87

Total Checking/Savings 1,401,049.87

Accounts Receivable

AC Receivable -26,696.64

Total Accounts Receivable -26,696.64

Other Current Assets

OWNER DEPOSIT ACCOUNT

N500VP DEPOSIT 31,500.00

N673YS DEPOSIT -2,870.72

Total OWNER DEPOSIT ACCOUNT 28,629.28

Total Other Current Assets 28,629.28

Total Current Assets 1,402,982.51

TOTAL ASSETS 1,402,982.51

LIABILITIES & EQUITY

Liabilities

Current Liabilities

Accounts Payable

AC PAYABLE 29,866.11

Total Accounts Payable 29,866.11

Credit Cards

AMEX -84,731.25

AMEX PLUM 104,495.02

Avfuel 10,664.25

Bob Amex 18,505.21

CHASE VISA (UAL) 147.00

UVAIR -73.16

Total Credit Cards 49,007.07

Other Current Liabilities

Federal Excise

Passenger 687.38

Segment 16.50

Total Federal Excise 703.88

Total Other Current Liabilities 703.88

Total Current Liabilities 79,577.06

Total Liabilities 79,577.06

Equity

30000 · Opening Bal Equity 1,264,207.72

32000 · Retained Earnings -19,861.21

Net Income 79,058.94

Total Equity 1,323,405.45

TOTAL LIABILITIES & EQUITY 1,402,982.51

JET-A

06/28/11 Balance Sheet

Accrual Basis As of June 28, 2011

Page 1
Jan 1 - Jun 28, 11

Ordinary Income/Expense

Income

Charter Sales

[N673YS] 422,511.84

NXXXXX 22,225.32

Charter Sales - Other 10,901.90

Total Charter Sales 455,639.06

Maintenance Sales

Maint Work Orders 8,424.24

Parts 18,898.24

Total Maintenance Sales 27,322.48

Management Fees 105,666.74

Reimbursable Expenses

Business Airline Travel 954.20

Business Ground Transport 231.12

Business Lodging 636.66

Business Meals 47.60

Contract Mechanic 494.52

Contract Pilot 0.00

Fees 3,317.60

Flight Training 2,633.21

Insurance

Insurance 22062 2,140.20

Total Insurance 2,140.20

Shipping 1,673.40

Subscriptions & DB Fees 28,566.56

Supplies-Office 119.95

Reimbursable Expenses - Other 6,644.27

Total Reimbursable Expenses 47,459.29

Total Income 636,087.57

Cost of Goods Sold

50000 · Flight Expenses

Aircraft Services 4,352.63

Airport Fees 15,608.46

Cabin Supplies 701.23

Catering 922.40

Contract Pilot 23,893.78

Fuel and Oil 141,601.01

Navigation Fees 1,245.23

PAX Transportation 621.91

Sub-Charter 9,285.83

Total 50000 · Flight Expenses 198,232.48

50500 · Crew Expense

Airline Travel 3,808.30

Communications 150.00

Ground Transportation 3,130.19

Lodging 19,430.56

Meals 1,211.18

Total 50500 · Crew Expense 27,730.23

51000 · Maintenance

C400 Maintenance-General 1,414.84

Contract Mechanic 2,751.41

Freight 957.44

S/N 1073 Aircraft Parts 25,075.90

S/N 1073 Maintenance-General 2,711.07

Total 51000 · Maintenance 32,910.66

JET-A

06/28/11 Profit & Loss

Accrual Basis January 1 through June 28, 2011

Page 1
Jan 1 - Jun 28, 11

52000 · Business Travel Expense

Air Travel 14,977.80

Grnd Transportation 2,076.65

Lodgings 3,335.89

Meal 866.34

52000 · Business Travel Expense - Other 37.70

Total 52000 · Business Travel Expense 21,294.38

53000 · Insurance

INS S/N 22062 5,394.29

Total 53000 · Insurance 5,394.29

54000 · Subscriptions & DB Fees 29,516.56

54500 · Flight Training 13,505.00

55000 · Employee Benefits

Health Insurance 1,594.00

Uniform 0.00

Total 55000 · Employee Benefits 1,594.00

56000 · Fees 3,841.77

59000 · OWNER REV

Owner Rev 1073 109,393.26

Total 59000 · OWNER REV 109,393.26

Total COGS 443,412.63

Gross Profit 192,674.94

Expense

Bad Debt 419.25

Discount Received -4,181.32

Executive Draw 15,477.99

Tax 115.51

60000 · Administrative Expenses

60500 · Salaries

3557 91,666.63

Total 60500 · Salaries 91,666.63

61500 · Flt Ops - Office Supplies 343.10

62000 · Advertising -106.78

64000 · I.T. and Communications 7,961.66

69500 · Bank Fees 1,919.96

Total 60000 · Administrative Expenses 101,784.57

Total Expense 113,616.00

Net Ordinary Income 79,058.94

Net Income 79,058.94

JET-A

06/28/11 Profit & Loss

Accrual Basis January 1 through June 28, 2011

Page 2
Jan - Dec 10

Ordinary Income/Expense

Income

Charter Sales

[N673YS] 274,387.52

NXXXXX 58,043.96

Charter Sales - Other 7,483.82

Total Charter Sales 339,915.30

Maintenance Sales

Maint Work Orders 1,940.18

Parts 15,327.68

Total Maintenance Sales 17,267.86

Management Fees 199,999.82

Reimbursable Expenses

Bob Amex (FOR JOURNAL ENTRY ONLY) 124,980.22

Business Airline Travel 2,508.88

Business Ground Transport 875.64

Business Lodging 2,052.83

Business Meals 44.88

Contract Mechanic 12,350.00

Crew Uniform 254.00

Fees 12,894.39

I.T. and Communications 267.96

Insurance 2,000.00

Shipping 656.61

Subscriptions & DB Fees 20,099.42

Supplies-Hangar 225.47

Supplies-Office 182.93

Reimbursable Expenses - Other -4,528.15

Total Reimbursable Expenses 174,865.08

Total Income 732,048.06

Cost of Goods Sold

50000 · Flight Expenses

Aircraft Services 8,194.28

Airport Fees 19,811.06

Cabin Supplies 1,074.37

Catering 2,313.33

Contract Pilot 15,400.00

Fuel and Oil 168,460.77

Navigation Fees 5,341.60

PAX Transportation 3,052.27

Sub-Charter 62,751.56

Total 50000 · Flight Expenses 286,399.24

50500 · Crew Expense

Airline Travel 1,046.10

Communications 9.98

Ground Transportation 3,880.72

Lodging 16,074.39

Meals 4,350.54

Total 50500 · Crew Expense 25,361.73

51000 · Maintenance

C400 Aircraft Parts 1,006.61

C400 Maintenance-General 636.59

Contract Mechanic 24,182.16

Freight 1,064.65

S/N 1007 Maintenance-General 640.90

S/N 1073 Aircraft Parts 51,737.14

S/N 1073 Maintenance-General 12,998.88

S/N 326 Aircraft Parts 9,442.11

S/N 326 Maintenance-General 261.16

Total 51000 · Maintenance 101,970.20

JET-A

03/24/11 Profit & Loss

Accrual Basis January through December 2010

Page 1
Jan - Dec 10

52000 · Business Travel Expense

Air Travel 12,582.68

Grnd Transportation 2,668.49

Lodgings 6,187.73

Meal 1,386.30

Total 52000 · Business Travel Expense 22,825.20

53000 · Insurance

INS S/N 1073 2,000.00

Total 53000 · Insurance 2,000.00

54000 · Subscriptions & DB Fees 32,714.07

54500 · Flight Training 20,000.00

55000 · Employee Benefits

Drug Testing 322.25

Health Insurance 3,480.00

Uniform 1,628.42

55000 · Employee Benefits - Other 150.00

Total 55000 · Employee Benefits 5,580.67

56000 · Fees 13,974.89

59000 · OWNER REV

Owner Rev 1073 55,358.60

Total 59000 · OWNER REV 55,358.60

Total COGS 566,184.60

Gross Profit 165,863.46

Expense

Discount Received -4,152.35

Executive Draw 24,216.32

Tax 2,082.18

60000 · Administrative Expenses

60500 · Salaries

3557 199,999.92

Total 60500 · Salaries 199,999.92

60600 · Outside Labor 1,629.85

61000 · Flt Ops - Hangar Supplies 12.19

61500 · Flt Ops - Office Supplies 596.66

62000 · Advertising 153.34

64000 · I.T. and Communications 18,698.17

69000 · Miscellaneous 1,984.55

69500 · Bank Fees 2,404.70

Total 60000 · Administrative Expenses 225,479.38

Total Expense 247,625.53

Net Ordinary Income -81,762.07

Net Income -81,762.07

JET-A

03/24/11 Profit & Loss

Accrual Basis January through December 2010

Page 2