Starfighters Space, Inc. 8-K

What Happened

• Starfighters Space filed an 8-K disclosing that on April 9, 2026 Richard “Rick” Svetkoff (the company’s former CEO, President and Executive Chairman) sued the company in the 18th Judicial Circuit, Brevard County, Florida (Case No. 26TC-245660994). Defendants named include Starfighters Space, CEO Timothy Franta, directors Sean Bromley, Brian Goldmeier and Geoffrey “Hak” Hickman, and Flagship Bank (as trustee for funds of the company’s subsidiary Starfighters International, Inc. or “SFII”).
• The complaint includes three counts: (1) breach of fiduciary duty against the director defendants seeking damages alleged to exceed $26,000,000 and equitable relief (including removal of certain directors); (2) a claim under the Florida Deceptive and Unfair Trade Practices Act (FDUTPA) seeking injunctive relief, damages, attorneys’ fees and transfer of the domain starfighters.net; and (3) injunctive relief related to alleged changes to corporate records and control over assets (including funds at Flagship Bank). The Company denies the allegations and says it will vigorously defend itself.

Key Details

• Lawsuit filed April 9, 2026; plaintiff Richard “Rick” Svetkoff resigned his company roles on February 19, 2026.
• Company’s internal inquiry alleges Svetkoff opened an unauthorized offshore account (Hamilton Reserve Bank, St. Kitts and Nevis) and moved about $1.0 million of SFII funds there; funds were later returned and the account closed.
• The Company identified approximately $1,895,869.04 in unauthorized withdrawals/transfers from SFII Flagship Bank accounts to Mr. Svetkoff and RLB Aviation, Inc. (owned by his wife).
• Starfighters has removed Svetkoff from officer/director roles in related entities (actions and Articles of Amendment filed March–April 2026) and is evaluating counterclaims (conversion, misappropriation, breach of fiduciary duty) and possible referral to authorities.

Why It Matters

• The suit alleges significant monetary damages (>$26M) and seeks injunctive and equitable relief that could affect company governance and control of assets. The company says the alleged improper transfers total nearly $1.9M plus an earlier ~$1.0M offshore transfer (returned).
• For investors, this is material litigation risk: the outcome could affect Starfighters’ finances, management stability and operations. The company reserves all rights, cannot predict the outcome, and plans to respond and may pursue counterclaims.