Company: XAIR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005678
Chunk: 68

Company: Beyond Air, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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0.3 million marketing and advertising costs for Beyond Air,
$0.1 million rent costs for Beyond Air offset by an increase $0.4 million in legal fees.

Selling,
general and administrative expenses for the nine months ended December 31, 2024 and December 31, 2023 were $22.1 million and $30.9 million,
respectively. The decrease of $8.8 million was attributed primarily to a decrease in spend in salaries $1.1 million in Beyond Air, a
decrease of $6.3 million due to stock based compensation cost ($2.6 million in Beyond Air and $3.7 million related to Beyond Cancer),
$0.7 million professional fees ($0.9 million in Beyond Air offset by increased spend $0.2 million in Beyond Cancer), $0.3 million marketing
and advertising costs for Beyond Air, $0.4 million rent costs ($0.2 million in Beyond Air and $0.2 million in Beyond Cancer), $0.3 million
travel costs ($0.2 million in Beyond Air and $0.1 million in Beyond Cancer) offset by an increase $0.4 million in legal fees.

Other
Income/Expense

Other
expense for the three months ended December 31, 2024, and December 31, 2023, was $2.4 million and income of $0.3 million,
respectively. The increase in expense of $2.1 million was attributed primarily to decreased dividend and interest income of $0.3
million, $1.9 million related to the loss on extinguishment of the Loan and Security agreement (the “Loan and Security
Agreement”) with Avenue Capital Management II, L.P., as administrative agent and collateral agent (the “Agent”),
Avenue Venture Opportunities Fund, L.P., a Delaware limited partnership (“Avenue”), and Avenue Venture Opportunities
Fund II, L.P, a Delaware limited partnership (“Avenue 2” and, together with Avenue, the “Lenders”), and
change in fair value of the derivative liability of $0.1 million, $0.1 million losses incurred on disposal of fixed assets in
relation to office closures offset by a decrease of $0.4 million in interest expense.

Other
income/(expense) for the nine months ended December 31, 2024, and December 31, 2023, was an expense of $3.1 million and income of $0.