Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 920

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 5
Chunk 920
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 and disclosures in the consolidated financial
statements. Our audits also included evaluating the accounting principles used and significant 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  
     —