Company: XAIR
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023243
Chunk: 27

Company: Beyond Air, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 that the Company is reasonably certain to exercise. All other lease assets and lease liabilities are recognized based on the present
value of lease payments over the lease term at commencement date. Because most of the Company’s leases do not provide an implicit
rate of return, the Company used an incremental borrowing rate based on the information available at adoption date in determining the
present value of lease payments.

    14

BEYOND
AIR, INC. AND SUBSIDIARIES

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE
3 PROPERTY AND EQUIPMENT

Property
and equipment consist of the following:

 SCHEDULE OF PROPERTY AND EQUIPMENT 

    (in thousands) 
    June 30, 2025  
    March 31, 2025 

    Clinical and medical equipment 
    $1,090  
    $1,048 
  
    Equipment deployable as part of a service offering 
     13,383  
     13,511 
  
    Computer equipment 
     951  
     927 
  
    Furniture and fixtures 
     499  
     506 
  
    Leasehold improvements 
     533  
     521 
  
    Property and equipment, gross 
     16,456  
     16,513 
  
    Accumulated depreciation 
     (6,268) 
     (5,500)
  
    Property
    and equipment, net 
    $10,188  
    $11,013 

Depreciation
and amortization for the three months ended June 30, 2025 and June 30, 2024 was $0.8 million and $0.7 million, respectively.

NOTE
4 STOCKHOLDERS’ EQUITY

On
February 10, 2025, the Company entered into an At-The-Market Equity Offering Sales Agreement with BTIG, Inc. (the “2025 ATM”).
Under the 2025 ATM, the Company may sell shares of its common stock having aggregate sales proceeds of up to $35.0 million, from time
to time and at various prices. If shares of the Company’s common stock are sold, there is a 2.5% fee paid to the sales agent. Pursuant
to the “baby shelf rules” promulgated by the SEC, if our public float is less than $75.0 million as of specified