Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 1195

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 9
Chunk 1195
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 31,2024

    December 31,2023

    Accrued expenses and reimbursements
     
    $
    1,690

    $
    858

    Accrued compensation and benefits

    382

    387

    Accrued bonus and commissions

    134

    108

    Accrued sales and other indirect taxes payable

    95

    12

    Accrued insurance premium and interest

    23

    -

    Accrued transaction costs

    13

    13

    Income Tax Payables

    46

    74

    Accrued liabilities
     
    $
    2,383

    $
    1,452

Financed Director & Officers Insurance

The Company entered into a Directors & Officers (“D&O”) insurance agreement with Oakwood D&O Insurance, effective on March 14, 2024. The agreement states that the Company will pay a total of $310 thousand in premiums at an annual percentage rate of 9.5%. The first of ten monthly separate installment payments begin on April 14, 2024. The Company paid a down payment on the policy of $85 thousand. As of December 31, 2024, the Company currently owes $23 thousand on the D&O insurance policy.

NOTE 9 – Promissory Note

Promissory note consisted of the following (in thousands):

    Schedule of promissory note

    December 31, 2024

    December 31, 2023

    Principal amount
     
    $
    3,885

    $
    3,885

    Less:
    Unamortized original issue discount

    -

    834

    Unamortized debt issuance cost

    -

    14

    3,885

    3,037

    Add: Interest

    372

    16

    Accrued monitoring fee

    273

    -

    4,530

    3,053

    Less: 
    Extinguishment

    3,927

    -

    $
    603

    $
    3,053

    F-27

December 2023 Promissory Note

On December 15, 2023, the Company entered into a note purchase agreement with Streeterville Capital, LLC (the “Lender”), pursuant to which