Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 1286

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 2
Chunk 1286
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-15

BEYOND AIR, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER
RISKS AND UNCERTAINTIES (continued)

Fixed Assets

Property and equipment are stated at cost less accumulated
depreciation and accumulated amortization. Depreciation and amortization are calculated using the straight-line method over the estimated
useful life of the assets as follows:

 SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE OF ASSETS

    Computer equipment 
    Three years
  
    Furniture and fixtures 
    Five years
  
    Clinical and medical equipment 
    Three3/Five
    years
  
    Equipment deployable as part of a service offering
    Five years
  
    Leasehold improvements 
    Shorter of term of lease or estimated useful life of the asset

Segment Reporting

Operating segments are defined as components of an
entity for which both discrete financial information is available and regularly reviewed by the Chief Operating Decision Maker (“CODM”)
in deciding how to allocate resources to an individual segment and in assessing performance. The CODM is our Chief Executive Officer.
The Company’s CODM evaluates performance and allocates resources for all of the Company’s reportable segments based on income/loss
from operations. The CODM is involved in determining and reviewing projected income/loss from operations as part of the annual budget
process. Throughout the year, the CODM considers forecast to actual results and variances to allocate resources. The CODM also considers
this information in strategic decisions related to capital allocations, including investments in assets, research and development activities,
and human capital.

The Company’s reportable segments at March 31, 2024 included Beyond
Air and Beyond Cancer. Following the March 24, 2025 private placement and reorganization of the Company’s
neurology business into the NeuroNos companies,
the Company’s operations became further classified into three segments, Beyond Air, Beyond Cancer and NeuroNos. Each segment has
its own management team, board of directors, corporate officers and legal entities. As of March 31, 2025, Beyond Air, Inc. owned 80% of
the common stock of Beyond Cancer and 88.2% of the common stock of NeuroNos.

The Beyond
Air segment includes unallocated corporate expenses associated with the public company fees as well as all corporate related assets and
liabilities.

    F-16

BEYOND