Company: XTIA
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001213900-25-045396
Chunk: 25

Company: XTI Aerospace, Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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     56  
     89 
  
    Other 
     91  
     69 
  
    Total prepaid expenses and other current assets 
    $1,607  
    $             1,018 

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities as of March 31, 2025
and December 31, 2024 consisted of the following (in thousands):

    As of
March 31,
2025  
    As
of
December 31,
2024 
  
    Accrued transaction bonuses – Strategic Transaction Bonus Plan 
    $—  
    $              4,266 
  
    Accrued transaction bonuses – related party 
     —  
     400 
  
    Accrued bonus and commissions 
     521  
     1,163 
  
    Accrued compensation and benefits 
     636  
     446 
  
    Accrued other 
     459  
     428 
  
    Total accrued expenses and other current liabilities 
    $1,616  
    $6,703 

20

XTI AEROSPACE, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Note 9 - Debt

The Company’s outstanding debt consisted of the following at the periods
indicated (in thousands):

  Short-Term Debt  Maturity  March 31,
2025   December 31,
2024   Promissory Note - May 1, 20241  5/1/2025  $—   $1,442   Promissory Note - May 24, 20241  5/24/2025   —    1,426   Unamortized Discounts      —    (211)  Total Short-Term Debt     $—   $2,657                   Long-Term Debt               SBA loan  6/3/2050  $65   $65   Total Long-Term Debt     $65   $65  

1Promissory note was repaid in full during the three months ended March
31, 2025.

Interest expense on outstanding
debt totaled approximately $0.