Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 104

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 104
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 Marcum
LLP

Marcum LLP

We have served
as the Company’s auditor since 2024.

New York, NY

April 15, 2025

F-3

XTI
AEROSPACE, INC. AND SUBSIDIARIES 

CONSOLIDATED
BALANCE SHEETS

(In
thousands, except number of shares and par value data)

    As
    of December 31,
    2024  
    As
    of December 31,
    2023 
  
    Assets 

    Current
    Assets 

    Cash
    and cash equivalents 
    $4,105  
    $5 
  
    Accounts receivable, net of allowance for credit losses of $18 and $0 as of December 31, 2024 and December 31, 2023, respectively 
     706  
     — 
  
    Other
    receivables 
     538  
     101 
  
    Inventories 
     2,214  
     — 
  
    Prepaid
    expenses and other current assets 
     1,018  
     125 

    Total
    Current Assets 
     8,581  
     231 

    Property
    and equipment, net 
     206  
     12 
  
    Operating
    lease right-of-use asset, net 
     340  
     — 
  
    Intangible
    assets, net 
     1,884  
     266 
  
    Goodwill 
     12,072  
     — 
  
    Other
    assets 
     1,208  
     — 

    Total
    Assets 
    $24,291  
    $509 

F-4

XTI
AEROSPACE, INC. AND SUBSIDIARIES 

CONSOLIDATED
BALANCE SHEETS (CONTINUED)

(In
thousands, except number of shares and par value data)

    As
    of December 31,
    2024  
    As
    of December 31,
    2023 
  
    Liabilities
    and Stockholders’ Equity 

    Current
    Liabilities 

    Accounts
    payable 
     5,487  
     2,495 
  
    Related
    party payables 
     51