Company: XAIR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005678
Chunk: 72

Company: Beyond Air, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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 and the issuance of common stock in connection with the
2022 ATM (as defined below) of $12 million partially offset by $0.7 million from the payment of short-term loans

Future
Funding Requirements

We
have generated revenue of $3.7 million from the sale of products to date. We had an operating cash flow decrease of $6.8 million for
the nine months ended December 31, 2024 and we have experienced an accumulated loss of $278.3 million since inception through December
31, 2024. As of December 31, 2024, we had cash, cash equivalents and marketable securities of $10.9 million ($6.9 million excluding Beyond
Cancer) and $0.2 million in restricted cash. Management believes these factors raise substantial doubt about the Company’s ability
to meet its obligations with cash on hand, however, management believes this doubt is alleviated through plans for increased revenues
and decreased expenditures, many of which have already been implemented, enabling increased cash flows. The company has recently signed
agreements with TrillaMed (providing access to Department of Defense and Veterans Affairs hospitals), Healthcare Links (expanding access
to group purchasing organizations and integrated delivery networks) and Business Asia Consultants (accelerating global expansion) which
will drive increased revenues. The company has implemented a capital conservation strategy, reducing our back office footprint, reducing
staffing levels by over 30% across the company, placing our VCAP study on hold pending future funding and adjusting our production forecasts. 
The Company expects an immediate benefit from these actions.

Management
is confident that the efforts it has implemented to increase revenues and decrease expenditures, while not assured, will enable the Company
to meet its obligations.

 35 

Our
future capital needs and the adequacy of our available funds will depend on many factors, including, but not necessarily limited to,
the cost and time necessary for the development, preclinical studies, clinical trials and certification or regulatory approval of our
other medical devices, indications as well as the commercial success of our approved product and any product candidates that receive
marketing approval by the FDA. We may be required to raise additional funds through sale of equity or debt securities or through strategic
collaborations and/or licensing agreements in order to fund operations until we are able to generate enough product or royalty revenues,
if any. Financing may not be available on acceptable terms, or at all, and our failure to raise capital when needed could