Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 573

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 573
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31, 2024 and 2023 consisted of the following (in thousands):

    As of December 31, 

    2024  
    2023 
  
    Accrued transaction bonuses – Strategic Transaction Bonus Plan 
    $4,266  
    $— 
  
    Accrued transaction bonuses – related party 
     400  
     — 
  
    Accrued bonuses and commissions 
     1,163  
     305 
  
    Accrued compensation and benefits 
     446  
     649 
  
    Accrued other 
     428  
     173 
  
    Total accrued expenses and other current liabilities 
    $6,703  
    $1,127 

F-23

XTI
AEROSPACE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

Note
9 - Debt

The Company’s
outstanding debt consisted of the following at the periods indicated (in thousands):

  Short-Term Debt  Maturity  2024   2023   Promissory Note - 2023     $—   $3,071   Promissory Note - 2023 - related party      —    125   Convertible Note - 2021 - related party1      —    1,079   Convertible Note - 20211      —    2,500   Promissory Note - May 1, 20242  5/1/2025   1,442    —   Promissory Note - May 24, 20242  5/24/2025   1,426    —   Unamortized Discounts      (211)   (50)  Unamortized Loan Costs      —    (35)  Total Short-Term Debt     $2,657   $6,690                   Long-Term Debt               SBA Loan  6/30/2050  $65   $65   Convertible notes, at fair value1