Company: MYND
Filing Date: 2025-03-26
Form Type: 20-F
Source: 0001628280-25-014832
Chunk: 133

Company: Mynd.ai, Inc.
Filing Date: 2025-03-26
Form: 20-F
Item: Item 18
Chunk 133
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-dilutive:

                              Year ended December 31,                                                      
                                                 2024                      2023                      2022  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────
  Convertible debt                                         33,773,015                32,220,497      —     
  Restricted stock units                                    1,742,676      —                         —     

Note 12. Relation with Controlling Shareholder and Related Entities

Historically, eLMTree has been managed and operated in the normal course of business consistent with other affiliates of the Controlling Shareholder. In preparing the 2022 consolidated financial statements, certain shared costs have been allocated to the eLMTree segment and reflected as expenses in the consolidated statements of operations. Management considers the allocation methodologies used to be reasonable and appropriate reflections of the historical Controlling Shareholder expenses attributable to the eLMTree segment for purposes of the stand-alone financial statements. However, the expenses reflected in the consolidated financial statements may not be indicative of the actual expenses that would have been incurred during the periods presented if eLMTree historically operated as a separate, stand-alone entity.

Allocated Direct Costs

Operating expense as presented in the consolidated statements of operations for the year ended December 31, 2022 includes $1,090of expenses for employee compensation that were directly attributable to the Company’s business. The Controlling Shareholder has allocated such expenses by identifying the individual employee whose work directly related to the Company.

Note 13. Related Party Transactions

As of December 31, 2024 and 2023, the Company has receivables of $ 1,561 1,683 4,621 5,061. During the year ended December 31, 2024, the Company recognized $ 462No revenue from related parties was recognized in the years ended December 31, 2023 and 2022. During the years ended December 31, 2024, 2023 and 2022, the Company received services from related parties which resulted in net costs totaling $ 2,103 8,745 5,005

On July 15, 2022, the Company entered into a related party loan agreement with Best Assistant Education Online Limited (the "Borrower"), a subsidiary of the Controlling Shareholder. The loan agreement allowed the Borrower to receive a non-interest bearing loan from the Company up to a maximum of $ 10,000 7,919

In November 2019