Company: XTIA
Filing Date: 2025-05-16
Form Type: NT 10-Q
Source: 0001213900-25-044911
Chunk: 2

Company: XTI Aerospace, Inc.
Filing Date: 2025-05-16
Form: NT 10-Q
Chunk 2
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 Company, a Delaware corporation (“Legacy XTI”), completed a merger
transaction pursuant to that certain Agreement and Plan of Merger, dated as of July 24, 2023 and amended on December 30, 2023 and March
12, 2024, whereby Merger Sub merged with and into Legacy XTI with Legacy XTI surviving the merger as a wholly-owned subsidiary of the
Company (the “XTI Merger”).

The Registrant expects that its revenues and gross
profit for the three months ended March 31, 2025 will be approximately $0.5 million and $0.3 million, respectively.

In addition, the Registrant expects its operating
expenses for the three months ended March 31, 2025 to increase by approximately $1.7 million from the comparable period in the prior year
primarily as a result of increases in legal and accounting fees relating to capital raising activities, increase in administrative headcount
to support operations growth, and increases in public company-related professional fees as the 2024 historical results reflect the operations
of a private company, Legacy XTI, from January 1, 2024 through the March 12, 2024 closing date of the XTI Merger.

The Registrant also expects its loss from operations
for the three months ended March 31, 2025 to increase by approximately $1.5 million from the comparable period in the prior year primarily
as a result of increased operating expenses.

The Registrant believes that its results contained
herein for the three months ended March 31, 2025 are materially correct; however, because management's review is ongoing, there can be
no assurance that the financial and accounting information referred to in this filing will not change upon completion of the review and
filing of the Form 10-Q.

Cautionary Note Regarding Forward-Looking Statements

This Form 12b-25 includes “forward-looking statements”
within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements include, without limitation, statements about the timing of the filing of the Form 10-Q and the Registrant’s expected
financial results for the three months ended March 31, 2025. Although the Registrant believes that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions, beliefs and expectations, there can be no assurance that its expectations
will be achieved. Except as otherwise may be required