Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 1209

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 7A
Chunk 1209
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 estimates made by management, as well as
evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for
our opinion.

/s/ BDO USA, P.C.

We have served as the Company’s auditor since 2024.

Houston, Texas

March 25, 2025

F-2

AIRJOULE TECHNOLOGIES CORPORATION
CONSOLIDATED BALANCE SHEETS

    December 31, 

    2024  
    2023 
  
    Assets 

    Current assets 

    Cash, cash equivalents and restricted cash 
    $28,021,748  
    $375,796 
  
    Due from related party 
     2,820,129  
     — 
  
    Prepaid expenses and other current assets 
     613,754  
     126,971 
  
    Total current assets 
     31,455,631  
     502,767 
  
    Operating lease right-of-use asset 
     147,001  
     49,536 
  
    Property and equipment, net 
     16,373  
     3,832 
  
    Investment in AirJoule, LLC 
     338,178,633  
     — 
  
    Other assets 
     54,482  
     — 
  
    Total assets 
    $369,852,120  
    $556,135 
  
    Liabilities and Stockholders’ equity (deficit) 

    Current liabilities 

    Accounts payable 
    $79,202  
    $2,518,763 
  
    Accrued transaction fees 
     —  
     3,644,100 
  
    Other accrued expenses 
     1,720,318  
     244,440 
  
    Operating lease liability, current 
     30,227  
     22,237 
  
    True Up Shares liability 
     2,189,000  
     — 
  
    Total current liabilities 
     4,018,747  
     6,429,540 
  
    Earnout Shares liability 
     24,524,000  
     — 
  
    Subject Vesting Shares liability 
     7,819,000  
     — 
  
    Operating lease liability, non-current 
     124,002  
     27