Company: XAIR
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023243
Chunk: 61

Company: Beyond Air, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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 a net $0.8 million of excess cash in high quality, short term, U.S. dollar denominated marketable equities
with high liquidity and invested $0.2 million for the purchase of property and equipment, mainly LungFit PH devices.

For
the three months ended June 30, 2024, net cash provided by investing activities was $3.1 million which was mainly attributable to a net
redemption of investments in marketable securities of $5.8 million and for the purchase of property and equipment of $2.7 million.

Financing
Activities

Net cash provided by
financing activities for the three months ended June 30, 2025 was $4.1 million, mainly from the issuance of common stock in
connection with the At-The-Market Offering Sales Agreement with BTIG, Inc (the “2025 ATM”) of $2.4 million in addition
to $2.0 million of advanced financing to the Company from a related party, a director of the Company who is also an existing lender
under its Loan Agreement. The Company is currently arranging the terms and expects that such financing will be issued on terms and
conditions materially consistent with those of the Loan Agreement.

Net
cash used by financing activities for the three months ended June 30, 2024 was $0.3 million, which were wholly comprised of loan repayments.

Future
Funding Requirements

We
have generated revenue of $6.7 million from the sale of products to date. We had an operating cash flow decrease of $4.5 million for
the three months ended June 30, 2025 and we have experienced an accumulated loss of $294.0 million since inception through June 30, 2025.
As of June 30, 2025, we had cash, cash equivalents and marketable securities of $6.5 million and $0.2 million in restricted cash.

31

We
expect to incur net losses and have net cash outflows for at least the next twelve months. Management believes these factors
raise substantial doubt about the Company’s ability to meet its obligations with cash on hand and concluded that the Company will
require additional funding within one year from the date these financial statements are issued.

Management
is confident that the efforts to arrange financing as described below, while not assured, will enable them to meet the Company’s
obligations.

The
Company’s future capital needs and the adequacy of its available funds will depend on many