Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 319

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 319
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    in accounts receivable and other receivables 
    $(18)
  
    Decrease in inventory,
    prepaid expenses and other current assets and other assets 
     1,573 
  
    Increase in accounts
    payable and related party payables 
     346 
  
    Increase in accrued liabilities
    and other liabilities 
     6,039 
  
    Increase in accrued interest 
     259 
  
    Decrease in deferred
    revenue 
     (435)
  
    Decrease
    in operating lease obligation 
     (233)
  
    Net
    cash used in the changes in operating assets and liabilities 
    $7,531 

Operating
Activities for the year ended December 31, 2023

Net
cash used in operating activities during the years ended December 31, 2023 was approximately $4.2 million. The cash flows
related to the year ended December 31, 2023 consisted of the following (in thousands):

    Net loss 
    $(25,066)
  
    Non-cash income and expenses 
     18,543 
  
    Net change in operating assets and liabilities 
     2,342 
  
    Net cash used in operating activities 
    $(4,181)

The
non-cash income and expense of approximately $18.5 million consisted primarily of the following (in thousands):

    Depreciation and amortization 
    $11 
  
    Amortization of intangible assets 
     27 
  
    Non-cash interest expense, net 
     613 
  
    Stock-based compensation 
     1,645 
  
    Change in fair value of JV obligation 
     196 
  
    Change in fair value of convertible notes payable 
     9,144 
  
    Loss on extinguishment of convertible notes payable 
     6,635 
  
    Change in fair value of warrant liability 
     164 
  
    Other 
     108 
  
    Total non-cash expenses 
    $18,543 

The
net use of cash in the change in operating assets and liabilities aggregated approximately $2.3 million and consisted primarily
of the following (in thousands):

    Decrease in accounts receivable and other receivables 
    $26 
  
    Increase in prepaid expenses and other current assets 
     (84)
  
    Increase in accounts payable and related party payables 
     1,