Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 711

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 1
Chunk 711
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. The Company’s uncertain tax positions are related to years that remain subject to examination by relevant
tax authorities. Since the Company is in a loss carryforward position, the Company is generally subject to examination by the U.S.
federal, state and local income tax authorities for all tax years in which a loss carryforward is available.

Net Loss Per Share

Basic and diluted net loss per share attributable
to common stockholders is computed by dividing the net loss attributable to Beyond Air, Inc., by the weighted average number of shares
of common stock outstanding for the period. The dilutive effect of outstanding options, warrants, restricted stock and other stock-based
compensation awards is reflected in diluted net loss per share by application of the treasury stock method. The calculation of diluted
net loss attributed to common stockholders per share excludes all anti-dilutive shares of common stock. For periods in which the Company
has reported net losses, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable
to common stockholders, because such shares of common stock are not assumed to have been issued if their effect is anti-dilutive, see
Note 8.

Variable Interest Entity

As the Company has the power to direct activities
of both Beyond Cancer and NeuroNos (VIE) that most significantly impact their economic performance and the right to receive benefits and
losses that may potentially be significant, these financial statements are fully consolidated with those of the Company. The non-controlling
owners’ 20% interest in Beyond Cancer’s net assets and result of operations and the non-controlling owners’ 11.76% interest
in NeuroNos’ net assets and result of operations are reported as “non-controlling interest” on the Company’s consolidated
balance sheets and as “net loss attributable to non-controlling interest” in the Company’s consolidated statements of
operations and comprehensive loss. All intercompany balances and transactions have been eliminated in the accompanying consolidated financial
statements.

Recently Adopted Accounting
Standards

In August 2020, the Financial Accounting Standards Board (“FASB”)
issued Accounting Standards Update (“ASU”) 2020-06 (“ASU 2020-06”), Debt — Debt with Conversion
and Other Options (Subtopic 470-20), to address the complexity associated with applying U.S. GAAP to certain financial instruments
with characteristics of liabilities and equity, which the Company adopted on April 1, 2023.