OXBRHIGH SIGNALFINANCIAL10-K

OXBR experienced a severe cash depletion dropping from $2.1M to $268K while expanding its blockchain-based tokenized reinsurance offerings across multiple product lines.

The dramatic 87% decline in cash to just $268K represents a critical liquidity concern for this small reinsurance company, potentially constraining operations and growth initiatives. While the company reduced total liabilities and marginally improved its net loss position, the cash burn appears unsustainable without immediate capital infusion or revenue acceleration.

Comparing 2026-03-30 vs 2025-03-26View on EDGAR →
FINANCIAL ANALYSIS

OXBR's financial position deteriorated significantly with cash reserves plummeting to dangerously low levels of $268K from $2.1M. The company did achieve some balance sheet improvement by reducing total liabilities meaningfully and narrowing its net loss modestly, while stockholders' equity grew to $5.9M. However, the severe cash depletion overshadows these positive developments and signals potential liquidity stress for ongoing operations.

FINANCIAL STATEMENT CHANGES
Cash & Equivalents
Balance Sheet
-87.4%
$2.1M$268K

Cash declined 87.4% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

Total Liabilities
Balance Sheet
-53.5%
$3.4M$1.6M

Liabilities reduced 53.5% — deleveraging improves balance sheet strength and financial flexibility.

Stockholders Equity
Balance Sheet
+49.8%
$3.9M$5.9M

Equity base grew 49.8% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Net Income
P&L
+23.7%
-$2.7M-$2.1M

Net income grew 23.7% — bottom-line growth signals improving overall business health.

LANGUAGE CHANGES
NEW — 2026-03-30
PRIOR — 2025-03-26
ADDED
As of March 26, 2026, 7,801,374 ordinary shares, par value $ 0.001 (USD) per share, were outstanding.
Following the issuance of the DeltaCat Re Token in 2023, we issued EpsilonCat Re token in 2024, issued ZetaCat Re and EtaCat Re in 2025, launched T42:2027 and T20:2027 tokenized reinsurance securities in 2026, representing high yield and balanced yield tokens, and intend to develop, launch, and issue additional series of tokenized reinsurance securities representing fractional interests in reinsurance contracts in the future.
On March 18, 2024, Oxbridge Re Holdings Limited and its indirect subsidiary SurancePlus, announced the commencement of an offering by SurancePlus of Participation Shares (the Securities ) represented by digital tokens to be issued under a 3-year Participation Share Investment Contract (the PSIC ).
In 2025, the SurancePlus bifurcated its offering into a high yield tokens targeting a 42% return and balanced yield token targeting a 20% return, and issued its ZetaCat Re and EtaCat Re tokens, respectively.
In February 2026, SurancePlus launched its high yield and balanced yield tokens for the 2026/27 treaty year under the names T42:2027 and T20:2027, and these tokens will be issued using the Solana blockchain network.
The quantity of Participation Shares to be issued in subsequent years of 2027, and 2028, shall be disclosed prior to their issuances.
At the start of the offerings, all Participation Shares are offered at an initial price of $10.00 per Participation Share.
The Securities have not been registered under the Securities Act of 1933, as amended (the Securities Act ), or any state or other securities laws and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from registration requirements or a transaction not subject to the registration requirements of the Securities Act or any state or other securities laws.
The Securities were sold in a transaction exempt from registration under the Securities Act and were sold only to persons reasonably believed to be accredited investors in the United States under SEC Rule 506(c) under the Securities Act and outside the United States only to non-U.S.
persons in accordance with Regulation S under the Securities Act.
REMOVED
As of March 26, 2025, 7,442,922 ordinary shares, par value $ 0.001 (USD) per share, were outstanding.
Following the issuance of the DeltaCat Re Token in 2023, we issued EpsilonCat Re token in 2025, launched ZetaCat Re and EtaCat Re in 2025, and intend to develop, launch, and issue additional series of tokenized reinsurance securities representing fractional interests in reinsurance contracts in the future.
On March 18, 2024, Oxbridge Re Holdings Limited (the Company ) and its indirect subsidiary SurancePlus Inc.
( SurancePlus ), a British Virgin Islands Business Company, announced the commencement of an offering by SurancePlus of Participation Shares (the Securities ) represented by digital tokens to be issued under a 3-year Participation Share Investment Contract (the PSIC ).
The quantity of Participation Shares to be issued in subsequent years of 2025, and 2026, shall be disclosed prior to their issuances.
At the start of the offering, the Participation Shares were offered at an initial price of $10.00 per Participation Share.
The aggregate amount raised in the private placement was $2,878,048 of Participation Shares represented by digital tokens issued under a 3-year Participation Share Investment Contract (for the issuance of 287,805 of the Participation Shares represented by the digital tokens, of which approximately $1,469,000 was received from third-party investors and approximately $1,409,000 was received from Oxbridge Re Holdings Limited.
On February 28, 2023, the Company announced in a press release that Oxbridge Acquisition Corp.
( Oxbridge Acquisition ) filed a Current Report on Form 8-K with the Securities and Exchange Commission in connection with Oxbridge Acquisition s business combination with Jet Token Inc., a Delaware corporation.
Upon the closing of the transaction, the combined company became Jet.AI Inc.
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