Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 735

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 1
Chunk 735
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 as follows (in thousands):

 SCHEDULE
OF DEFERRED TAX ASSET/LIABILITY

    March
                                            31, 2025  
    March 31, 2024 
  
    Net operating loss carryforwards 
    $48,702  
    $40,263 
  
    Research and development tax credits 
     2,197  
     2,140 
  
    Research and development tax credit capitalization 
     8,066  
     5,713 
  
    Other 
     (15) 
     12 
  
    Depreciation 
     (2,337) 
     (1,924)
  
    Stock-based compensation 
     7,556  
     10,327 
  
    Capital loss carryforward 
     -  
     1,401 
  
    Reserves and accruals 
     36  
     1,200 
  
    Right-of-use asset 
     (298) 
     (376)
  
    Lease liability 
     333  
     413 

    Net deferred tax 
     64,240  
     59,169 
  
    Valuation allowance 
     (64,240) 
     (59,169)
  
    Net deferred tax asset 
    $-  
    $- 

A reconciliation of income tax expense calculated
at the federal enacted statutory rate of 21% is as follows:

 SCHEDULE
OF STATUTORY US FEDERAL EFFECTIVE RATE

    March 31, 2025  
    March 31, 2024 
  
    Federal income tax at statutory rate 
     (21.00)% 
     (21.00)%
  
    State income tax, net of federal benefit 
     (2.73) 
     (2.51)
  
    Permanent items 
     (0.58) 
     (0.05)
  
    Non-deductible compensation 
     10.45  
     0.00 
  
    Change in valuation allowance 
     10.46  
     22.51 
  
    Research and development tax credits 
     (0.12) 
     (0.80)
  
    Foreign tax rate differential 
     0.65  
     0.08 
  
    Other 
     2.87