Company: XTIA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076767
Chunk: 15

Company: XTI Aerospace, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 15
---
    For the three months ended 
    June 30,  
    For the six months ended
    June 30,  
    Percentage of accounts
    payable 
  
    Vendor 
    2025  
    2024  
    2025  
    2024  
    As of 
    June 30,
    2025  
    As of
    December 31, 
    2024 
  
    A 
     **  
     11% 
     **  
     **  
     **  
     ** 
  
    B 
     **  
     **  
     **  
     **  
     31% 
     11%
  
    C 
     **  
     **  
     **  
     **  
     13% 
     ** 
  
    D 
     	**  
     	**  
     	**  
     	**  
     	**  
     31%

  ** Represents less than 10% of the total for the respective period. 

10

XTI AEROSPACE, INC. AND
SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

Intangible Assets and Goodwill

Finite-lived intangible assets primarily consist
of developed technology, patents, customer relationships, and trade names/trademarks. They are amortized ratably over a range of 5 to
15 years, which approximates customer attrition rate and technology obsolescence.

The Company tests goodwill for potential impairment
at least annually, or more frequently if an event or other circumstance indicates that the Company may not be able to recover the carrying
amount of the net assets of the reporting unit. In evaluating goodwill for impairment, the Company may assess qualitative factors to
determine whether it is more likely than not (that is, a likelihood of more than 50%) that the fair value of a reporting unit is less
than its carrying amount. If the Company bypasses the qualitative assessment, or if the Company concludes that it is more likely than
not that the fair value of a reporting unit is less than its carrying value, then the Company performs a quantitative impairment test
by comparing the fair value of a reporting unit with its carrying amount.

The Company calculates the estimated fair value
of a reporting