Company: XTIA
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001213900-25-045396
Chunk: 165

Company: XTI Aerospace, Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 8
Chunk 165
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 securities and proceeds from loans and bank credit lines. We believe that our current
revenue, as supplemented by proceeds from our financings, including the approximately $21.7 million net proceeds we raised in various
public offerings of our securities placed and underwritten by ThinkEquity during the first quarter of 2025, a portion of which was used
to fully repay short-term obligations including the outstanding Streeterville promissory note balances, along with our ability to defer
or eliminate certain operating expenses that are under our control, will provide us with liquidity to fund our planned operating needs
for at least the next twelve months.

According to our current development
schedule, we do not expect to obtain FAA type certification and other necessary regulatory approvals and commence deliveries of the TriFan
600 until 2030 at the earliest. Therefore, we intend to raise additional capital through debt or equity financings as we continue to advance
the design and certification of the TriFan 600.

As a result of our failure
to timely file a Current Report on Form 8-K, upon the filing of our Annual Report on Form 10-K for the year ended December 31, 2024 on
April 15, 2025, we became ineligible to use Form S-3 until August 2025 at the earliest. Our inability to use Form S-3 may significantly
impair our ability to raise the necessary capital to fund our operations and execute our strategy. If we seek to access the capital markets
through a registered offering during the period of time that we are unable to use Form S-3, we may be required to publicly disclose the
proposed offering and the material terms thereof before the offering commences, we may experience delays in the offering process due to
SEC review of a Form S-1 registration statement and we may incur increased offering and transaction costs and other considerations.

Liquidity and Capital Resources 

The Company’s net cash
flows used in operating, investing and financing activities for the three months ended March 31, 2025 and 2024 and certain balances as
of the end of those periods are as follows (in thousands):

    For the Three Months Ended March 31, 

    2025  
    2024 
  
    Net cash used in operating activities 
    $(15,242) 
    $(2,551)
  
    Net cash (used in) provided by investing activities 
     (45) 
     2,958 
  
    Net cash