Company: XAIR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001493152-25-021561
Chunk: 64

Company: Beyond Air, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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 invested $3.8 million for the purchase of property and
equipment, mainly LungFit PH devices.

Financing
Activities

Net
cash provided by financing activities for the six months ended September 30, 2025 was $13.0 million, mainly from the issuance of common
stock in connection with the At-The-Market Offering Sales Agreement with BTIG, Inc (the “2025 ATM”) of $8.1 million in addition
to $3.0 million from the issuance of common stock in connection with the warrant inducement and issuance of additional warrants. Additionally,
the Company received $2.0 million of advanced financing from a related party, a director of the Company who is also an existing lender
under its Loan Agreement. The Company is currently arranging the terms and expects that such financing will be issued on terms and conditions
materially consistent with those of the Loan Agreement.

Net
cash provided by financing activities for the six months ended September 30, 2024 was $21.4 million, mainly from the issuance of securities
through securities purchase agreements which the net proceeds were $19 million, $7.5 million advance payment on loan and security 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 $5.7 million from the payment of short-term loans, including a $5.0 million partial repayment
to Avenue Capital.

Future
Funding Requirements

We
have generated revenue of $8.5 million from the sale of products to date. We had an operating cash flow decrease of $9.0 million for
the six months ended September 30, 2025 and we have experienced an accumulated loss of $302.0 million since inception through September
30, 2025. As of September 30, 2025, we had cash, cash equivalents and marketable securities of $10.7 million and $0.2 million in restricted
cash.

32

We
expect to incur net losses and have net cash outflows for at least the next twelve months. Management believes these factors raise substantial
doubt about the Company’s ability to meet its obligations with cash on hand and concluded that the Company will require additional
funding within one year from the date these financial statements are issued.

Management
is confident that the efforts to arrange financing as described below, while not assured, will enable