Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 293

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 293
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ITEM
2: PROPERTIES

We
lease office space in several locations in the United States, including Palo Alto, California and Englewood, Colorado, where we house
our principal headquarters, sales and marketing and certain administrative functions. We also lease certain property Berlin, Germany
through our subsidiary Inpixon GmbH for research and development, sales, marketing and administrative activities. The Company also has
offices in Eschborn, Germany through our subsidiary IntraNav. We believe our facilities are adequate for our current and reasonably anticipated
future needs.

ITEM
3: LEGAL PROCEEDINGS

Except
as disclosed below, there are no material pending legal proceedings as defined by Item 103 of Regulation S-K, to which we are a party
or of which any of our property is the subject, other than ordinary routine litigation incidental to the Company’s business.

There
are no proceedings in which any of the directors, officers or affiliates of the Company, or any registered or beneficial holder of more
than 5% of the Company’s voting securities, is an adverse party or has a material interest adverse to that of the Company.

On December 6, 2023, Xeriant, Inc. (“Xeriant”) filed a
complaint against Legacy XTI, along with two unnamed companies and five unnamed persons, in the United States District Court for the Southern
District of New York. On January 31, 2024, Xeriant filed an amended complaint, which added us as a defendant. On February 2, 2024, the
Court ordered Xeriant to show cause as to why the amended complaint should not be dismissed without prejudice for lack of subject matter
jurisdiction. On February 29, 2024, Xeriant filed a second amended complaint, which removed us and one of the unnamed companies as defendants.
The second amended complaint alleges that Legacy XTI, through multiple breaches and fraudulent actions, has caused substantial harm to
Xeriant and has prevented it from obtaining compensation owed to it under various agreements entered into between Xeriant and Legacy XTI,
including but not limited to a joint venture agreement, a cross-patent license agreement, an operating agreement, and a letter agreement.
In particular, Xeriant contends that Legacy XTI gained substantial advantages from the intellectual property, expertise, and capital deployed
by Xeriant in the design and development of Legacy XTI’s TriFan 600 airplane yet has excluded Xeriant from the transaction involving