Company: CXAI
Filing Date: 2025-11-12
Form Type: 424B3
Source: 0001829126-25-009079
Chunk: 60

Company: CXApp Inc.
Filing Date: 2025-11-12
Form: 424B3
Chunk 60
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 JOBS Act provides that our decision not to opt out of the extended transition period for complying with new or revised accounting standards is irrevocable.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Not applicable.

Item 4. Controls and Procedures

Disclosure Controls and Procedures

Disclosure controls are procedures that are designed with the objective of ensuring that information required to be disclosed in our reports filed under the Exchange Act is recorded, processed, summarized, and reported within the time period specified in the SEC’s rules and forms. Disclosure controls are also designed with the objective of ensuring that such information is accumulated and communicated to our management, including the chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.

We conducted an evaluation, under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, of our disclosure controls and procedures (as defined in Rule 13a-15(e) and Rule 15d-15(e) of the Exchange Act). Based upon this evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective as of September 30, 2025. The material weakness and remediation activities were discussed in Part II, Item 9A “Controls and Procedures” of the Company’s 2024 Annual Report filed on April 7, 2025.

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Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) during the three months ended September 30, 2025 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Management has developed and is implementing a comprehensive remediation plan to address the material weaknesses identified in internal control over financial reporting.

For Tax Accounting Controls, the Company has enhanced review procedures and implemented automated reconciliation processes to improve the completeness and accuracy of income tax accruals, with a particular focus on state tax liabilities. The Company has also engaged external tax specialists to assist in refining accrual methodologies and strengthening related documentation and review processes.

With respect to the Expense Accrual Process, the Company has revised its period-end close procedures to include standardized accrual checklists, earlier cut-off timelines, and enhanced management review controls. These measures are designed to improve the timeliness and accuracy of expense recognition, including legal and professional fees. The accounting team now performs monthly and quarterly analyses of recurring expenses