Company: CXAI
Filing Date: 2025-05-23
Form Type: 424B3
Source: 0001829126-25-003922
Chunk: 25

Company: CXApp Inc.
Filing Date: 2025-05-23
Form: 424B3
Chunk 25
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 on our consolidated financial statements.

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In March 2024, the FASB issued ASU 2024-02
“Codification Improvements—Amendments to Remove References to the Concept Statements,” which amends the Codification
to remove references to various FASB Concepts Statements and impacts a variety of Topics in the Codification. The amendments apply to
all reporting entities within the scope of the affected accounting guidance, but in most instances the references removed are extraneous
and are not required to understand or apply the guidance. Generally, the amendments in ASU 2024-02 are not intended to result in significant
accounting changes for most entities. ASU 2024-02 is effective for the Company for fiscal years beginning after December 15, 2024
and interim periods within those fiscal years. Entities may apply the guidance either retrospectively to the beginning of the earliest
comparative period presented or prospectively to all new or modified transactions recognized on or after the date of adoption. We adopted
this guidance as of January 1, 2025, on a prospective basis and the adoption did not have a material impact on our condensed consolidation
financial statements.

In November 2024, the FASB issued ASU No. 2024-03 “Disaggregation of Income Statement Expenses”. The amendment requires more detailed information about specified categories of expenses (purchases of inventory, employee compensation, depreciation, amortization, and depletion) included in certain expense captions presented on the face of the income statement. This ASU is effective for fiscal years beginning after December 15, 2026 and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The amendments may be applied either (1) prospectively to financial statements issued for reporting periods after the effective date of this ASU or (2) retrospectively to all prior periods presented in the financial statements. We are currently evaluating the impact this ASU will have on our disclosures.

In November 2024, the FASB issued ASU No. 2024-04 “Debt—Debt with Conversion and Other Options (Subtopic 470-20)”. The amendment requires companies to apply a preexisting contract approach. Under this approach, a settlement qualifies for induced conversion accounting if the inducement offer preserves the form of consideration and results in an amount of consideration that is no less than that issuable pursuant to the pre