Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 611

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 2
Chunk 611
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We conducted our audits in accordance with the standards of the PCAOB.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements
are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform,
an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal
control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal
control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material
misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those
risks. Such procedures included examining, on a test basis, evidence regarding the amounts 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