Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 31

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 31
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ownership change” occurs if there
is a greater than 50 percentage point change (by value) in a corporation’s equity ownership by certain stockholders over a rolling
three-year period. We may have experienced ownership changes in the past and may experience ownership changes in the future as a result
of subsequent shifts in our stock ownership (some of which shifts are outside our control). As a result, our ability to our pre-change
federal NOLs and other tax attributes to offset future taxable income and taxes could be subject to limitations. Similar provisions of
state tax law may also apply. For these reasons, even if we achieve profitability, we may be unable to use a material portion of our
NOLs and other tax attributes which may have an adverse impact on our business, financial condition and results of operations.

17

We
may enter into joint venture, teaming and other arrangements, and these activities involve risks and uncertainties. A failure of any
such relationship could have material adverse results on our business and results of operations.

We
may enter into joint venture, teaming and other arrangements. These activities involve risks and uncertainties, including the risk of
the joint venture or applicable entity failing to satisfy its obligations, which may result in certain liabilities to us for guarantees
and other commitments, the challenges in achieving strategic objectives and expected benefits of the business arrangement, the risk of
conflicts arising between us and our partners and the difficulty of managing and resolving such conflicts, and the difficulty of managing
or otherwise monitoring such business arrangements. In addition, we do not currently have arrangements in place that will allow us to
fully execute our business plan, including, without limitation, final supply and manufacturing agreements. Moreover, existing or future
arrangements may contain limitations on our ability to enter into arrangements with other partners. A failure of our business relationships
could have a material adverse effect on our business and results of operations.

We
are subject to risks associated with climate change, including the potential increased impacts of severe weather events on our operations
and infrastructure.

The
potential physical effects of climate change, such as increased frequency and severity of high wind conditions, storms, floods, fires,
fog, mist, freezing conditions, sea-level rise and other climate-related events, could affect our operations, infrastructure and financial
results. Climate change risks could result in but are not limited to operational risk from the physical effect of climate events on our
terminal facilities, production facilities and other assets, as well as transitional risks, including new or