Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 392

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 392
---
 
     227,193  
     15,900 

The
basic earnings per share calculation for years ended December 31, 2024 and 2023 included 2,435 and 2,435 of penny warrants shares,
respectively, since the exercise price was $0.01 per share. Additionally, the basic earnings per share calculation for the years
ended December 31, 2024 and 2023 included 1,194 shares of common stock that were issuable to Xeriant Inc. (“Xeriant”)
related to the joint venture arrangement that expired by its term on May 31, 2023. The shares were issued to Xeriant for no additional
consideration immediately prior to the XTI Merger.

The
following potentially dilutive shares were excluded from the computation of diluted net loss per share attributable to common stockholders
for the periods presented, because including them would have been anti-dilutive (on an as-converted basis):

    For
    the Years Ended
    December 31, 

    2024  
    2023 
  
    Options 
     30,509  
     4,647 
  
    Warrants 
     1,438  
     655 
  
    Convertible preferred
    stock 
     2  
     — 
  
    Convertible
    notes 
     997  
     2,720 
  
    Total 
     32,946  
     8,022 

F-41

XTI
AEROSPACE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

Note
21 – Income Taxes

The
domestic and foreign components of loss from continuing operations before income taxes for the years ended December 31, 2024 and 2023
are as follows (in thousands):

    For
    the Years Ended
    December 31, 

    2024  
    2023 
  
    Domestic 
    $(30,876) 
    $(25,066)
  
    Foreign 
     (4,711) 
     — 
  
    Net
    Loss, before tax 
    $(35,587) 
    $(25,066)

The
income tax provision (benefit) for the