Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 541

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1C
Chunk 541
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 1,208,410,366 
  
    Total liabilities and equity 
    $1,217,180,327 

AirJoule, LLC assesses its goodwill for impairment annually as of October
1, and more frequently if events and circumstances indicate that goodwill might be impaired. AirJoule, LLC determines the enterprise fair
value using an income approach based on estimated discounted future cash flows. Determining the enterprise fair value is judgmental in
nature and requires the use of significant estimates and assumptions, including revenue growth rates, EBITDA margins, discount rates,
the Company’s market capitalization and future market conditions, among others. The level of judgment and estimation is inherently
higher in uncertain economic times.

Given the uncertain economic times and AirJoule, LLC’s
status as an early-stage company with limited operating history and the uncertainties regarding AirJoule, LLC’s successful
development and commercialization of its products, there can be no assurance that the estimates and assumptions made for purposes of
its goodwill impairment testing in 2024 will prove to be accurate predictions of the future. If AirJoule, LLC’s
assumptions, including timing of revenue generation and forecasted EBITDA, are not achieved, then AirJoule, LLC may be required to
record goodwill impairment charges in future periods. Based on the Company’s assessment performed, no impairment to
AirJoule, LLC’s goodwill or the Company’s equity method investment was identified as of December 31, 2024.

    Year Ended December 31, 2024 
  
    Revenue 
    $— 
  
    Net loss 
    $(10,642,734)

Note 6 — PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

    As of
 December 31, 2024  
    As of December 31, 2023 
  
    Machinery and equipment 
    $26,786  
    $7,728 
  
    Vehicles 
     5,295  
     5,295 
  
    Total cost 
     32,081  
     13,023 
  
    Less: Accumulated depreciation 
     (15,708) 
     (9,191)
  
    Property and equipment, net 
    $16,373  
    $3,832 

Depreciation expense related to the Company’s property and equipment
was $6,517