Company: XTIA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112615
Chunk: 60

Company: XTI Aerospace, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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 shares of common stock, respectively, issuable upon exercise of Pre-funded Warrants
that were issued in connection with the March Offering, June Offering, and September Offering. These Pre-funded Warrants are considered
penny warrants as the exercise price is $0.001; therefore, they are included in the basic earnings per share calculation.

The basic earnings per share calculation for
the three months ended September 30, 2024 included 839 penny warrant shares, since the exercise price was $0.01 per share.
The basic earnings per share calculation for the nine months ended September 30, 2024 included 2,434 penny warrants shares.
Additionally, the basic earnings per share calculation for the nine months ended September 30, 2024 included 1,194 shares of
common stock that were issuable to Xeriant related to the joint venture arrangement that expired by its term on May 31, 2023. The shares
were issued to Xeriant for no additional consideration immediately prior to the XTI Merger.

The following potentially dilutive shares were
excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including
them would have been anti-dilutive (on an as-converted basis):

    For the Three Months Ended September
    30,  
      For
    the Nine Months Ended September 30, 

    2025  
      2024  
      2025  
    2024 
  
    Options 
     2,914,464  
     51,274  
     1,015,818  
     23,165 
  
    Warrants 
     13,409,149  
     1,116  
     5,575,262  
     1,828 
  
    Convertible preferred stock 
     2  
     2  
     2  
     2 
  
    Convertible notes 
     —  
     —  
     —  
     1,383 
  
    Total 
     16,323,615  
     52,392  
     6,591,082  
     26,378 

Note 19 - Subsequent Events

Management has evaluated subsequent events through the date of issuance
of this Quarterly Report on Form 10-Q.

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