Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 556

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 556
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 which, from time to time, may exceed federally insured limits. The Company considers
all highly liquid investments with an original maturity from date of purchase of three months or less, or that are readily convertible
into known amounts of cash, to be cash equivalents.

Credit
Risk and Concentrations

Financial
instruments that subject the Company to credit risk consist principally of trade accounts receivable and cash and cash equivalents. The
Company performs certain credit evaluation procedures and does not require collateral for financial instruments subject to credit risk.
The Company believes that credit risk is limited because the Company routinely assesses the financial strength of its customers and,
based upon factors surrounding the credit risk of its customers, establishes an allowance for credit losses.

The
customers who account for 10% or more of the Company’s revenue for the year ended December 31, 2024 or 10% or more of the Company’s
outstanding receivable balance as of December 31, 2024 are presented as follows:

    Percentage
    of revenues  
    Percentage
    of accounts receivable 
  
    Customer 
    Year
    Ended December 31, 2024  
    As
    of December 31, 2024 
  
    A 
     23% 
     31%
  
    B 
     11% 
     ** 
  
    C 
     14% 
     22%
  
    D 
     13% 
     ** 

**Represents less than 10% of the total for the respective period

The
Company did not have revenue for the year ended December 31, 2023. The Company did not have outstanding trade receivables as of December
31, 2023.

The
vendors who account for 10% or more of the Company’s purchases or 10% or more of the Company’s outstanding payable balance
are presented as follows for the periods indicated:

    Percentage
    of purchases  
    Percentage
    of accounts payable 
  
    Vendor 
    Year
    Ended December 31, 2024  
    As
    of December 31, 2024 
  
    A 
     **  
     31%
  
    B 
     **  
     11%
  
    C 
     11% 
     ** 

    Percentage
    of purchases  
    Percentage
    of accounts payable 
  
    Vendor 
    Year
    Ended December 31