Company: CXAI
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001829126-25-003841
Chunk: 36

Company: CXApp Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 in convertible debt measured at fair value for the three months ended March 31, 2025 and for the year ended December 31, 2024.

    Schedule of company’s net deferred tax assets

    Convertible Debt

    Balance as of December 31, 2024
     
    $
    4,512

    Additions

    -

    Settlement(1)

    (350
    )
  
    Fair value measurement adjustments

    118

    Balance as of March 31, 2025
     
    $
    4,280

    Convertible Debt

    Balance as of December 31, 2023
     
    $
    -

    Additions

    6,825

    Settlement(2)

    (2,100
    )
  
    Fair value measurement adjustments

    (213
    )
  
    Balance as of December 31, 2024
     
    $
    4,512

        (1) 
    
        During the three months ended March 31, 2025, the company have issued 242,491 shares of the company’s Class A Common stock pursuant to purchase notices related to Pre-Paid Purchase#1. The shares issued have a total exchange amount of $350 thousand with exchange price of $1.44.  
  
    (2)
    During the year ended December 31, 2024, the Company has issued 1,683,104 shares of the Company’s Class A Common Stock pursuant to multiple purchase notices related to Pre-Paid Purchase #1. The shares issued have a total exchange amount of $2,100 thousand with exchange prices ranging from $1.18 to $1.41.

NOTE 12 – Common Stock

In June 2024, the Company received a notice for a net exercise of 70,350 options to purchase shares of common stock resulting in the issuance of 12,570 shares of the Company’s Class A Common Stock with par value $0.0001 per share. In accordance with the terms of the Incentive Plan, 51,012 shares were withheld by the Company to cover the exercise price, and 6,768 shares were withheld in satisfaction of the taxes required to be paid in connection with the exercise.

On October 10, 2024, the Company issued 40,000 shares of the Company’s Class A Common Stock as part of the Securities Purchase Agreement. The issued shares serve as the commitment shares of the agreement.

During the