Company: XTIA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076767
Chunk: 266

Company: XTI Aerospace, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 266
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    Inventories 
     2,490  
     2,214  
     276 
  
    Prepaid expenses and other current assets 
     1,290  
     1,018  
     272 

    Total Current Assets 
     24,212  
     8,581  
     15,631 

    Current Liabilities 

    Accounts payable and related party payables 
     2,685  
     5,538  
     (2,853)
  
    Accrued expenses and other current liabilities 
     1,822  
     6,703  
     (4,881)
  
    Accrued interest 
     342  
     522  
     (180)
  
    Customer deposits 
     1,350  
     1,350  
     — 
  
    Warrant liability 
     14,564  
     —  
     14,564 
  
    Operating lease obligation, current 
     95  
     119  
     (24)
  
    Deferred revenue 
     979  
     532  
     447 
  
    Short-term debt 
     —  
     2,657  
     (2,657)

    Total Current Liabilities 
     21,837  
     17,421  
     4,416 

    Net Working Capital (Deficit) 
    $2,375  
    $(8,840) 
    $11,215 

Balance Sheet Improvement

During the six months ended
June 30, 2025, we raised approximately $41.8 million in net proceeds through (i) our now expired ATM with Maxim, (ii) public offerings
of our securities placed and underwritten by ThinkEquity LLC, and (iii) the exercise of warrants issued in connection with the March Offering
and the June Offering. The proceeds from these capital raises and warrant exercises allowed us to significantly reduce debt and other
obligations, while progressing the development of the TriFan 600 airplane. The following summarizes the improvements to our balance sheet
from December 31, 2024 to June 30, 2025:

    ●
    Cash and cash equivalents increased by approximately $15.9 million primarily due to the net proceeds received from the June Offering.

    ●