Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 1115

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 8
Chunk 1115
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 Plan, 51,012 shares were withheld by the Company to cover the exercise price, and 6,768 shares were withheld in satisfaction of the taxes required to be paid in connection with the exercise.

On October 10, 2024, the Company issued 40,000 shares of the Company’s Class A Common Stock as part of the Securities Purchase Agreement. The issued shares serve as the commitment shares of the agreement.

During the year ended December 31, 2024, the Company issued 246,220 shares of Class A Common Stock, net of 69,445 shares of Class A Common Stock to cover the withholding tax, for the 315,665 vested Restricted Stock Units.

During the year ended December 31, 2024, the Company issued total of 3,695,211 shares of Class A Common Stock for paying off the promissory note and the convertible debt. See Note 9, Promissory Note and Note 12, Convertible Debt, in the accompanying notes to the consolidated financial statements for further detail.

    F-34

NOTE 14 – Income Tax

The Company’s net deferred tax assets/(liabilities) consisted of the effects of temporary differences attributable to the following:

    Schedule of company’s net deferred tax assets

    (In thousands)
     
    December 31,2024

    December 31,2023

    Organizational costs/startup expenses
     
    $
    1,432

    $
    1,031

    Deferred revenue

    23

    41

    Section 174 - software development cost

    2,187

    1,097

    Stock based compensation

    453

    164

    Research credits

    -

    -

    Other accruals

    16

    50

    Fixed assets

    -

    -

    Other

    2

    -

    Net operating loss carryforward

    4,894

    2,202

    Total deferred tax asset

    9,008

    4,585

    Less: Valuation allowance

    (5,498
    )

    (871
    )

    Deferred tax asset, net of valuation allowance
     
    $
    3,510

    $
    3,714

    December 31,2024

    December 31,2023

    Intangibles
     
    $
    (3,508
    )