Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 412

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 2
Chunk 412
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 1,690

    $
    858

    Accrued compensation and benefits

    382

    387

    Accrued bonus and commissions

    134

    108

    Accrued sales and other indirect taxes payable

    95

    12

    Accrued insurance premium and interest

    23

    -

    Accrued transaction costs

    13

    13

    Income Tax Payables

    46

    74

    Accrued liabilities
     
    $
    2,383

    $
    1,452

Financed Director & Officers Insurance

The Company entered into a Directors & Officers (“D&O”) insurance agreement with Oakwood D&O Insurance, effective on March 14, 2024. The agreement states that the Company will pay a total of $310 thousand in premiums at an annual percentage rate of 9.5%. The first of ten monthly separate installment payments begin on April 14, 2024. The Company paid a down payment on the policy of $85 thousand. As of December 31, 2024, the Company currently owes $23 thousand on the D&O insurance policy.

NOTE 9 – Promissory Note

Promissory note consisted of the following (in thousands):

    Schedule of promissory note

    December 31, 2024

    December 31, 2023

    Principal amount
     
    $
    3,885

    $
    3,885

    Less:
    Unamortized original issue discount

    -

    834

    Unamortized debt issuance cost

    -

    14

    3,885

    3,037

    Add: Interest

    372

    16

    Accrued monitoring fee

    273

    -

    4,530

    3,053

    Less: 
    Extinguishment

    3,927

    -

    $
    603

    $
    3,053

    F-27

December 2023 Promissory Note

On December 15, 2023, the Company entered into a note purchase agreement with Streeterville Capital, LLC (the “Lender”), pursuant to which we agreed to issue and sell to the Lender an unsecured promissory note (the “Note”) in an aggregate initial principal amount