{"url_path":"/sec/skas/10-q/2026/item-4","section_key":"item-4","section_title":"Item 4 **–**Controls and Procedures**","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1128281/0001437749-26-017366-index.html","accession_number":"0001437749-26-017366","cik":"0001128281","ticker":"SKAS","issuer_name":"Saker Aviation Services, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1128281/0001437749-26-017366-index.html","primary_entity_key":"0001128281","primary_entity_name":"Saker Aviation Services, Inc."},"word_count":584,"has_tables":true,"body_markdown":"**Item 4**–**Controls and Procedures**\n\n \n\n**Evaluation of Disclosure Controls and Procedures**\n\n \n\nManagement is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rule 13a-15(f). A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. All internal control systems, no matter how well designed and tested, have inherent limitations, including, among other things, the possibility of human error, circumvention or disregard. Therefore, even those systems of internal control that have been determined to be effective can provide only reasonable assurance that the objectives of the control system are met and may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.\n\n \n\nUnder the supervision, and with the participation of management, including our Chief Executive Officer (principal executive officer) and President (principal financial officer), we conducted an assessment of the effectiveness of our internal control over financial reporting based on the framework in *Internal Control* —*Integrated Framework (2013)*issued by the Committee of Sponsoring Organizations of the Treadway Commission. Management’s assessment of the effectiveness of the Company’s internal control over financial reporting as of March 31, 2026 concluded that it was not effective at the reasonable assurance level due to a material weakness.\n\n \n\nThis material weakness relates to the Company’s governance and staffing structure, including the absence of an audit committee and limited segregation of duties due to limited personnel. These conditions could adversely affect the Company’s ability to prevent or detect material misstatements to the financial statements on a timely basis.\n\n \n\nNo material misstatements were identified in the financial statements as a result of this condition.\n\n \n\nThe Company is implementing remediation measures, including enhancing oversight and establishing an audit committee.\n\n \n\n**Changes in Internal Control Over Financial Reporting**\n\n \n\nThere has been no change in our internal control over financial reporting that occurred during the fiscal quarter covered by this Quarterly Report on Form 10-Q that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.\n\n \n\n12\n\n \n\n \n\n**PART II**–**OTHER INFORMATION**\n\n \n\n**Item-1**–**Legal Proceedings**\n\n \n\nOn November 20, 2024 the Company was notified by the NYCEDC that NYCEDC intends to award the Concession Agreement for the operation of the Downtown Manhattan Heliport to another company (“Skyport”). On March 31, 2025, the Company filed a petition with the Supreme Court of the State of New York County of New York requesting among other things, an order directing the City of New York to produce non-privileged documentation related to its decision to award the Concession Agreement to Skyport, which the Company has already requested, and a judgement annulling the award of the Concession Agreement to Skyport and directing the city to award the Concession Agreement to another company. The petition alleges a number of misrepresentations made by Skyport to the city which the Company believes helped Skyport secure the Concession Agreement. As of May 15, 2026, this litigation is still ongoing. The Company can make no assurance that we will be successful in the annulment of the Concession Agreement to Skyport.\n\n \n\n**Item**–**1A**–**Risk Factors**\n\n \n\nFor a discussion of the Company’s potential risks or uncertainties, please see: (i) “Part I—Item 1A—Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC."}