Company: AIRTP
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0000353184-25-000009
Chunk: 39

Company: AIR T INC
Filing Date: 2025-02-12
Form: 10-Q
Item: Item 8
Chunk 39
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 for $2.5 million with an interest rate of 10.0%, through conversion of a portion of the Company's accounts receivable from CAM. All outstanding principal and accrued interest will become due and payable to the Company on the maturity date, which is October 15, 2027. Prior to the maturity, CAM may prepay any accrued interest or principal outstanding without penalty.CAM's HLBV net assets, including common interests and investor interests, was $35.4 million and $21.8 million as of December 31, 2024 and 2023, respectively. Additionally, contributions from and distributions to both Air T and MRC for the three and nine months ended December 31, 2024 and 2023 is as follows (in thousands):Three Months EndedNine Months EndedDecember 31, 2024December 31, 2023December 31, 2024December 31, 2023Contributions$2,293 $91 $2,293 $548 Distributions$5,564 $2,112 $7,841 $3,460 Investment balances for the Company's equity method investees as of December 31, 2024 and March 31, 2024 is as follows (in thousands):InvestmentDecember 31, 2024March 31, 2024Lendway$1,534 $2,339 CCI4,208 3,723 CAM10,864 7,397 Other equity method investments2,137 3,194 Total$18,743 $16,653 Net income (loss) attributable to Air T, Inc. stockholders for the Company's equity method investees, included in non-operating (expense) income on the condensed consolidated statements of income (loss), including basis difference adjustments, during the three and nine months ended December 31, 2024 and 2023 is as follows (in thousands):Three Months EndedNine Months EndedInvestmentDecember 31, 2024December 31, 2023December 31, 2024December 31, 2023Lendway$(320)$313 $(816)$750 CCI(267)169 484 1,508 CAM1,246 563 5,085 1 Other equity method investments2 (7)177 218 Total$661 $1,038 $4,930