Business Description

stock corporation and (ii) after the consummation of the reorganization transactions on October 25, 2024 described in “Item 1. Business—Corporate History and Structure,” to Elite Express Holding Inc., a Delaware corporation and its subsidiary, JAR Transportation Inc, and other subsidiaries if any. References to “Predecessor” are to JAR Transportation Inc prior to October 26, 2024 and “Successor” are to Elite Express Holding Inc. and its subsidiary, JAR Transportation Inc, after October 25, 2024. For further information, see “Item 1. Business—Corporate History and Structure.” Numerical figures included this Annual Report may have been subject to rounding adjustments. Accordingly, numerical figures shown as totals in various tables may not be arithmetic aggregations of the figures that precede them. Certain Definitions Unless otherwise indicated or the context requires otherwise, references this Annual Report to: ● “AI” are to artificial intelligence; ● “Bylaws” are to our bylaws, as amended; ● “Certificate of Incorporation” are to our certificate of incorporation, as amended; ● “Class A common stock” are to our shares of Class A common stock, par value $0.000001 per share; ● “Class B common stock” are to our shares of Class B common stock, par value $0.000001 per share; ● “common stock” are to our shares of Class A common stock and Class B common stock combined; ● “ETS” are to Elite Express Holding Inc., a Delaware corporation; ● “Exchange Act” are to the Securities Exchange Act of 1934, as amended; ● “FedEx” are to Federal Express Corporation; ● “JAR” or “operating entity” are to JAR Transportation Inc, a California corporation; ● “preferred stock” are to our shares of preferred stock, par value $0.000001 per share, none of which are issued and outstanding; ● “SEC” are to the United States Securities and Exchange Commission; ● “Securities Act” are to the Securities Act of 1933, as amended; ● “U.S.”, “US” or “United States” are to United States of America, its territories, its possessions and all areas subject to its jurisdiction; ● “U.S. dollars,” “$,” and “dollars” are to the legal currency of the United States; and ● “we,” “us,” “our,” “our Company,” or the “Company” are to ETS and its subsidiary, JAR, and other subsidiaries, as the case may be. ​ ​ 2 Table of Contents PART I Item 1. Business Overview We are a holding company incorporated in Delaware. Through our wholly owned subsidiary, JAR Transportation Inc, a California-based operating entity, we specialize in last-mile delivery services within California. Our core business focuses on retrieving packages from distribution hubs and ensuring their prompt and secure delivery to recipients’ doorsteps. Committed to innovation and efficiency, our mission is to optimize last-mile logistics by providing efficient, reliable, and innovative delivery solutions. As of the date of this annual report, we employ approximately 26 full-time staff, including approximately 20 drivers. Our fleet consists of approximately 23 trucks and trailers. We provide exclusive pickup and delivery services within our designated service area, covering approximately 1,665.28 square miles. We utilize GroundCloud, a leading logistics software, during our course of business, for route optimization, driver management, and compliance monitoring. Additionally, we are actively expanding our investment in advanced technologies to enhance our scalability, automate