Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 270

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 15
Chunk 270
---
 otherwise settled. The significant
assumptions used in valuing the warrants and derivative were as follows:

 SCHEDULE OF VALUING THE WARRANTS AND DERIVATIVES

    At March 31, 2025 
    Warrants  
    Derivative 
  
    Expected term (in years) 
     3.25  
     - 
  
    Volatility 
     99% 
     -
%
  
    Risk-free rate 
     3.9% 
     -%

    At March 31, 2024 
    Warrants  
    Derivative 
  
    Expected term (in years) 
     4.25  
     3.25 
  
    Volatility 
     88% 
     86%
  
    Risk-free rate 
     4.09% 
     4.38%

The table presented
below is a summary of changes in the fair value of the Company’s Level 3 valuation for the warrants and derivatives for the
years ended March 31, 2025 and March 31, 2024 (in thousands):

 SCHEDULE OF CHANGES IN FAIR VALUE OF WARRANTS AND DERIVATIVES

    Warrants  
    Derivative 

    Balance at April 1, 2023
     
    $
    -

    $
    -

    Issuances

    885

    1,361

    Change in fair value

    (611
    )

    (48
    )

    Balance at March 31, 2024 
    $275  
    $1,314 
  
    Change in fair value 
     (237) 
     (1,314)
  
    Balance at March 31, 2025 
    $38  
    $- 

    F-13

BEYOND AIR, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 

NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER
RISKS AND UNCERTAINTIES (continued)

Warrant Liability

The Company classifies warrants
as equity for any contracts that (i) require physical settlement or net-share settlement or (ii) gives the Company a choice of net-cash
settlement or settlement in its own shares (physical settlement or net-share settlement). The Company classifies warrants as assets or
liabilities any contracts that (i) require net-c