Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 626

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 626
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 its compensation for serving as representative
in connection with the March Offering, we issued ThinkEquity and its designees Representative Warrants to purchase up to 147,060 shares
of common stock. The Representative Warrants were immediately exercisable upon issuance, have an exercise price of $1.70 per share and
expire on the five-year anniversary of the commencement of sales of the securities issued in the March Offering.

F-48

ITEM
9: CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM
9A: CONTROLS AND PROCEDURES

Disclosure
controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed
by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management,
including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow
timely decisions regarding required disclosure.

Evaluation
of Disclosure Controls and Procedures

We
carried out an evaluation, under the supervision and with the participation of our management, including our chief executive officer
(our principal executive officer) and our chief financial officer (our principal financial and accounting officer), of the effectiveness
of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report. The evaluation
was undertaken in consultation with our accounting personnel. Based on that evaluation, our chief executive officer and our chief financial
officer concluded that as of December 31, 2024, our disclosure controls and procedures were effective to ensure that information
required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported
within the time periods specified in the Securities and Exchange Commission’s rules and forms.

Report
on Internal Control over Financial Reporting

Our
management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined
in Rules 13a-15(f) and 15d-15(f) of the Exchange Act. Our internal control system is designed to provide reasonable assurance regarding
the preparation and fair presentation of financial statements for external purposes in accordance with generally accepted accounting
principles. All internal control systems, no matter how well designed, have inherent limitations and can provide only reasonable assurance
that the objectives of the internal control system are met. We have performed an evaluation of the effectiveness of our internal control
over