Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 1100

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 7
Chunk 1100
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,085) 
     (11,390,657) 
     54,522,428 

    Other income (expense): 

    Interest income 
     932,371  
     11,541  
     920,830 
  
    Gain on contribution to AirJoule, LLC 
     333,500,000  
     —  
     333,500,000 
  
    Equity loss from investment in AirJoule, LLC 
     (5,321,367) 
     —  
     (5,321,367)
  
    Change in fair value of Earnout Shares liability 
     29,197,000  
     —  
     29,197,000 
  
    Change in fair value of True Up Shares liability 
     (1,634,000) 
     —  
     (1,634,000)
  
    Change in fair value of Subject Vesting Shares liability 
     3,973,000  
     —  
     3,973,000 
  
    Gain on settlement of legal fees 
     2,207,445  
     —  
     2,207,445 
  
    Other income 
     10,245  
     —  
     10,245 
  
    Total other income, net 
     362,864,694  
     11,541  
     362,853,153 

    Income (loss) before income taxes 
     296,951,609  
     (11,379,116) 
     308,330,725 
  
    Income tax expense 
     (81,256,047) 
     —  
     (81,256,047)
  
    Net income (loss) 
    $215,695,562  
    $(11,379,116) 
    $227,074,678 

General and Administrative

General and administrative expenses for the year ended December 31,
2024 was $9.0 million as compared to $7.5 million for the year ended December 31, 2023. The $1.5 million increase was primarily related
to increases in professional services such as legal and audit and accounting offset by the reimbursement of costs incurred per the statement
of work with AirJoule, LLC. We expect that