Company: AIBT
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001096906-25-001895
Chunk: 14

Company: AIBOTICS, INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 8
Chunk 14
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 reported at fair value. The Company maintains its cash balances with a bank whose balance is insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. The Company monitors the cash balances held in its bank accounts, and as of September 30, 2025, and December 31, 2024, did not have any concerns regarding cash balances which exceeded the insured amounts.
 
Property and Equipment, Net
 
Property and equipment are stated at cost. For financial reporting, we provide for depreciation using the straight-line method at rates based upon the estimated useful lives of the various assets. Depreciation expense was $0 for the three months ended September 30, 2025, and 2024, and $0 and $498 for the nine months ended September 30, 2025, and 2024, respectively. The Company computes depreciation utilizing estimated useful lives, as stated below:
 
Property and Equipment, Net Categories
 
Estimated Useful Life

Equipment
 
3 Years

Management assesses property and equipment for impairment whenever there is an indicator of impairment. Impairment losses are evaluated if the estimated undiscounted cash flows from using the assets are less than carrying value. A loss is recognized when the carrying value of an asset exceeds its fair value. Management assessed and concluded that no impairment write-down would be necessary for the Company’s property and equipment as of September 30, 2025 and December 31, 2024.
 
Finite Long-lived Intangible Assets, Net
 
Finite long-lived intangible assets are recorded at their estimated fair value at the date of acquisition. Finite long-lived intangible assets are amortized on a straight-line basis over their estimated useful lives. Management annually evaluates the estimated remaining useful lives of the finite intangible assets to determine whether events or changes in circumstances warrant a revision to the remaining period 

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of amortization. The Company acquired the finite intangible asset, intellectual property, as part of the Philon Labs asset acquisition during the year ended December 31, 2024 (Note 4 – Intangible Assets, Net).
 
Finite long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be fully recoverable. An impairment loss is recognized if the sum of the expected long-term undiscounted cash flows the asset is expected to generate is less than its carrying amount. Any write-downs are treated as permanent reductions in the carrying amount of the respective asset. Management assessed and concluded that