Company: AIRJW
Filing Date: 2025-05-16
Form Type: POS AM
Source: 0001213900-25-044504
Chunk: 56

Company: AirJoule Technologies Corp.
Filing Date: 2025-05-16
Form: POS AM
Chunk 56
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)                                                  |     | $                       | 215,695,562 |   |     | $ | (11,379,116 | ) |     | $ | 227,074,678 |   |

General and Administrative General and administrative expenses for the year ended December 31, 2024 was $9.0 million as compared to $7.5 million for the year ended December 31, 2023. The $1.5 million increase was primarily related to increases in professional services such as legal and audit and accounting offset by the reimbursement of costs incurred per the statement of work with AirJoule, LLC. We expect that our general and administrative expenses will increase in future periods commensurate with the expected growth of our business and increased expenditures associated with our status as an exchange listed public company. Research and Development Research and development expenses for the year ended December 31, 2024 was $2.0 million as compared to $3.3 million for the year ended December 31, 2023. The $1.3 million decrease was primarily related to the reimbursement of costs incurred per the statement of work with AirJoule, LLC, partially offset by an increase in personnel and prototype related costs as the Company continues to develop its products and technology. We expect that our research and development expenses will increase in future periods commensurate with the expected growth of our business. Sales and Marketing Sales and marketing for the year ended December 31, 2024 was $0.2 million as compared to $0.5 million for the year ended December 31, 2023. In 2023, we incurred non-recurring expenses related to business development that ended in July 2023. We expect that our sales and marketing expenses will increase in future periods commensurate with the expected growth of our business. 29 Transaction Costs Incurred in Connection with Business Combination Transaction costs incurred in connection with the Business Combination include the non-cash recognition of earnout liabilities of approximately $53.7 million and transaction costs incurred by our Predecessor of approximately $1.0 million, which were paid in 2024. Depreciation and Amortization Depreciation and amortization expense for the year ended December 31, 2024 and 2023 was $6,517 and $4,341, respectively. Interest Income Interest income was $0.9 million and $11,541 for the year ended December 31, 2024 and 2023, respectively.