PURCHASE. You purchase a HEXA at the Founder Series price of $495,000 and create a business entity (typically an LLC). Owners opting to earn a 10% revenue share may be able to receive a tax deduction of 80% of the purchase price in the first year. *

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PARTNER. Your LLC enters into a 5 year, aircraft management agreement with LIFT and your aircraft joins our pay-per-flight, rental fleet at one of our planned base locations.

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FLY FOR FREE. You and up to 4 other people you specify can enjoy unlimited flights at any LIFT location for free, and any guests flying with you (same group schedule time) fly at the owner's guest rate of $49 per flight. LIFT pays for all aircraft operating expenses (storage, maintenance, insurance, etc.)

RECOUP YOUR COST (OR MORE). You'll choose between earning 10% of gross rental revenue generated by your aircraft, with the opportunity to generate an attractive rate of return - or - LIFT will agree to buy your aircraft back at the end of the term for $495,000, resulting in a net cost to you over the 5 year term of $0.

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* Recent tax changes (IRS Section 179) allow for accelerated depreciation and tax deduction of 80% of the cost of assets used for business in the first year (during 2023), resulting in a tax savings of up to 37% of the cost of your aircraft (depending on your tax bracket).

LIFT is offering Founder's Series aircraft that will be used in LIFT's first operating locations, starting in Q4 2023, and for LIFT's upcoming nationwide tour.

LIFT will determine the sequence and schedule for opening locations based on several factors including demand from consumers in the form of our waitlists, weather/seasonality, tourism, availability of suitable base sites and demand from owners/investors under this program.

LIFT will work with owners in each city to select the most optimal LIFT base location.

DEPOSIT: First, you will place a refundable deposit ($2,500) to begin the process.

DEMO FLIGHT: This is not a small purchase, and you may want to experience the magic of electric, vertical flight before placing your order. You and a guest will be invited to visit us at our LIFT operating location near Austin, Texas where you will receive beginner training, fly, and receive your Beginner Pilot Certificate (approximately 2 hours total). Note: Once you fly, LIFT will retain $1,000 of the deposit.

PURCHASE AGREEMENT: You will have 30 days from placing your deposit to sign your purchase agreement and make a 40% ($200,000) advance payment to confirm your order, and you'll receive your precise delivery window.

AIRCRAFT MANAGEMENT AGREEMENT: Before delivery, you will enter into a management agreement with LIFT, outlining the terms of your participation in our rental program.

DELIVERY: Following owner inspection the balance of the purchase price ($292,500) will be due on delivery. Deliveries and ownership training take place near Austin, TX at our delivery center. LIFT will arrange transport of your HEXA to its operating base.

LIFT is accepting a limited number of refundable deposits in the amount of $2,500 to reserve aircraft for deliveries in Q4, 2023. The deposit is refundable at any time until you sign the purchase agreement, and LIFT reserves the right to decline participation in the Owners Program to anyone for any reason and will promptly refund the deposit to anyone whose participation is declined.

After placing your deposit, you'll have up to 30 days to sign the binding purchase agreement agreements and pay the $200,000 pre-delivery payment.

You will be provided an estimated delivery date at the time of signing your purchase agreement, and the final balance is due at delivery.

LIFT plans to offer flights on HEXAs at its base locations for approximately $249 USD, subject to change by location, seasonality, demand and other factors. HEXA owners that choose the revenue share option will receive 10% of rental revenue, or approximately $25 per flight.

LIFT plans to operate bases a minimum of 6 days a week, during daylight hours, and during seasons suitable for this type of recreational flying - which we expect to average approximately 12 hours per day over the course of a year.

Each flight or series of flights lasts up to 15 minutes, with battery swapping and pilot change to allow for up to 4 flights per aircraft per hour. Per FAA Part 103 Regulations, LIFT will allow flights in VFR (Visual Flight Rules) conditions only and will not allow flights in adverse or unsafe weather conditions - including excessive winds, precipitation, low visibility, etc. Total available flight slots will vary greatly by location and additional downtime should be considered for maintenance.

The following is a Sample Pro Forma for the 5 year term.

The purchase price of your aircraft will be deductible against income generated through the revenue share program. Bonus accelerated depreciation as is available up to 80% in the first year and may be deductible against either passive or ordinary income, depending on your tax situation. *NOTE: Please consult with your tax professional to understand your particular situation.

DISCLAIMER: LIFT Aircraft is not qualified to give you tax advice. Please consult with a tax specialist to determine what tax benefits may apply to your specific income and tax situation.

Your LLC will file taxes and you, as the owner of the business, will receive flow through income or loss, typically with IRS form K-1. Any asset used in a legitimate, for profit business is entitled to bonus depreciated of up to 80% in its first year in service per IRS Section 179.

This accelerated depreciation was included in recent tax changes to promote capital expenditures and investment by small businesses in the US. The depreciation will create a tax benefit of up to $148,000, depending on your income tax rate (37% of $500,000 = $185,000). Your ability to take advantage of this tax benefit will depend on having sufficient income to expense this large expense against and the classification of your income in a given year as either ordinary income or passive income.

It's important to note that, after you fully depreciate the aircraft, if you sell the aircraft there will be tax on the full proceeds of the sale as ordinary income. If you keep the aircraft for personal use after the program then this is not be an issue but check with your CPA for your personal situation. The third alternative is that you can sell the aircraft or trade it in as part of the purchase of a new aircraft and the tax gain will be offset by the depreciation of the new aircraft.

Owners and up to (4) designated others get the benefit of unlimited personal use of their aircraft under the Owners Program. Personal use of your aircraft should not impact the tax treatment of your aircraft as a business asset. According to most CPAs that specialize in this area, personal use of your aircraft is generally allowed by the IRS up to a certain limit - up to 10% of its available use. Please seek the advice of a tax professional about your specific tax situation.

HEXA fits into the FAA’s Powered Ultralight category, under which flights are limited to daylight hours, in uncontrolled airspace (Class G, which is generally up to 700 or 1,200 above ground level everywhere except near major airports), and not over congested areas.

LIFT bases will be located near major metro areas - but also adjacent to un-congested flyover areas. We'll select locations for their scenic appeal for recreational use while also considering utility for personal transportation uses.

At each location, LIFT will designate allowable airspace and any locations you would like to land or operate other than at the designated base will need to be approved. We plan to open multiple bases in each area we operate and allow base to base flights. Airspace boundaries and allowable landing locations will be programmed into HEXA's flight computer.

Flight time and range for eVTOL aircraft are relatively short given limitation with commercially available batteries - so HEXA is designed for experiential entertainment flying starting and ending at the base and relatively short hop flights (<10 miles) as we develop a network of approved bases in each area.

NEW: The FAA has announced proposed changes to the "Light Sport" category allowing electric rotorcraft like HEXA to potentially qualify. Owners may have the option to certify their HEXA under these new rules and unlock the ability to fly over congested areas, in controlled airspace, and at night - however a sport pilot's license with a rotorcraft rating will be require for anyone that wants to fly that particular aircraft. We'll be tracking these new regulations, learn more at: https://www.faa.gov/newsroom/faa-proposes-rule-enhance-safety-and-performance-light-sport-aircraft

Our HEXA owners create limited liability companies (LLC's) and place the aircraft into the LLC. This is exactly what LLC's are designed to do - shield the owner from the liability of the company or asset. Aircraft in our fleets are also covered by liability insurance, which protects against possible claims.

Yes, you can bring multiple investors together to buy a HEXA and form an LLC. Consult with legal and tax specialists as to how income and tax benefits flow through an LLC with multiple owners. You can also buy and operate more than one aircraft under your LLC.

The HEXA ownership program is structured very similarly to other common ownership programs in aviation and other industries. It is very common for owners of general aviation aircraft to lease their aircraft to fixed-base operators (FBOs), who then rent the aircraft out to pilots by the hour.

In the yacht charter industry, it is common practice for yachts to be owned by individuals under business entities and put in charter rental under similar programs.

While this is an entirely new kind of aircraft and the first truly consumer flying experience to launch anywhere in the world, we have been testing consumer interest in this new form of flying by opening up waitlists in 25 US cities. As of December 31, 2022, we have a waitlist of over 15,000 flights, with sold out "Early Bird" pre-paid deposits for flights during our upcoming US road show.

LIFT has been covered extensively in the news including 60 Minutes, The TODAY Show, CNBC, TechCrunch, and Motherboard on VICE. Experiential entertainment is one of the fastest growing segments of the economy and estimated to be a $12B market by 2022. Comparable businesses like iFLY (indoor skydiving), K1 Speed (electric cart racing) and Top Golf (gamified golf entertainment) have grown rapidly as consumers and millennials in particular trend toward spending more discretionary income on experiences, particularly those that are easily shareable on social media.

LIFT is not offering financing for purchase of aircraft under the program, but encourages prospective owners to explore financing options that might be available to them. For some owners, HELOC financing may be available, and for owners choosing the 10% revenue share option, SBA financing may be available, as your aircraft will be operating as a for-profit business. Please seek the advice of financial advisors.

Buyers of our first production series of HEXA will be helping to launch LIFT in their cities, the first pay-per-flight eVTOL operations of its kind anywhere in the world. In essence, owners are founding partners with LIFT in their respective cities and we want to recognize them as such.