Company: XAIR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005678
Chunk: 141

Company: Beyond Air, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part II, Item 8
Chunk 141
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 million of the payment of the second tranche of the May 2021 settlement with Circassia, ($2.9) million for the Hudson
settlement and ($7.6) million attributable to the resolution of Empery Asset Master, Ltd. Et AL, vs AIT Therapeutics Inc.

Investing
Activities

For
the nine months ended December 31, 2024, net cash provided by investing activities was $12.3 million. For the nine months ended December
31, 2023, net cash used in investing activities was $10.6 million. In the nine months ended December 31, 2024, the Company redeemed a
net $16.7 million of excess cash in high quality, short term, U.S. dollar denominated marketable equities with high liquidity and invested
$4.5 million for the purchase of property and equipment, mainly LungFit PH devices. In the nine months ended December 31, 2023, the Company
invested $6.8 million of excess cash in high quality, short term, U.S. dollar denominated marketable equities with high liquidity, and
$3.8 million for the purchase of property and equipment, mainly LungFit PH devices.

Financing
Activities

Net
cash provided by financing activities for the nine months ended December 31, 2024 was $12.1 million, mainly from the issuance of securities
through securities purchase agreements which the net proceeds were $18.8 million, $11.3 million payment received on the loan agreement,
and the issuance of common stock in connection with the At-The-Market Offering Sales Agreement with Truist Securities, Inc (the “2022
ATM”) of $0.6 million partially offset by $18.7 million from the payment of short-term loans, including a $17.5 million repayment
to Avenue Capital. Net cash provided by financing activities for the nine months ended December 31, 2023 was $27.3 million, mainly from
the Loan and Security Agreement of which the net proceeds were $15.8 million, and the issuance of common stock in connection with the
2022 ATM (as defined below) of $12 million partially offset by $0.7 million from the payment of short-term loans

Future
Funding Requirements

We
have generated revenue of $3.7 million from the sale of products to date. We had an operating cash flow decrease of $6.8 million