Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 357

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 16
Chunk 357
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, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 4 STOCKHOLDERS’ EQUITY (continued)

The following was utilized to calculate the fair value
of options on the date of grant:

SCHEDULE OF FAIR VALUE OF OPTION 

    March 31, 2025

    March 31, 2024

    Risk -free interest rate

    3.6-4.4
    %

    3.5-4.9
    %
  
    Expected volatility (Beyond Air)

    83.6-89.9
    %

    81.4-82.7 
    %
  
    Expected volatility (Beyond Cancer)

    -
    %

    104.3 - 106.2
    %
  
    Expected volatility (NeuroNos)

    95.0
    %

    -
    %
  
    Dividend yield

    0
    %

    0
    %
  
    Expected terms (in years)

    6.25

    6.25

The Company determined
the fair value per share of Beyond Cancer’s common stock to be $5.50
in fiscal years 2024 based on a third-party valuation.

The Company determined
that the fair value per share of NeuroNos’ common stock to be $0.14
at the grant date in fiscal year 2025 based on a third-party valuation.

The following summarizes the components of stock-based
compensation expense which included stock options and restricted stock for the years ended March 31, 2025 and March 31, 2024, in thousands:

 SCHEDULE
OF STOCK-BASED COMPENSATION EXPENSE

    Year Ended 

    March 31, 

    2025  
    2024 

    Research and development 
    $471  
    $4,480 
  
    General and administrative 
     8,675  
     16,857 

    Total stock-based compensation expense 
    $9,146 
    $21,337 

Warrants

A summary of the Company’s outstanding warrants
as of March 31, 2025 is as follows:

 SUMMARY
OF COMPANY’S OUTSTANDING WARRANTS

    Warrant Holders 
    Number of Warrants  
    Exercise Price  
    Intrinsic Value (in thousands)  
    Date of Expiration