Company: CXAI
Filing Date: 2025-05-09
Form Type: S-1
Source: 0001829126-25-003532
Chunk: 184

Company: CXApp Inc.
Filing Date: 2025-05-09
Form: S-1
Chunk 184
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 per share. In accordance with the terms of the Incentive Plan, 51,012 shares were withheld by the Company to cover the exercise price, and 6,768 shares were withheld in satisfaction of the taxes required to be paid in connection with the exercise.

On October 10, 2024, the Company issued 40,000 shares of the Company’s Class A Common Stock as part of the Securities Purchase Agreement. The issued shares serve as the commitment shares of the agreement.

During the year ended December 31, 2024, the Company issued 246,220 shares of Class A Common Stock, net of 69,445 shares of Class A Common Stock to cover the withholding tax, for the 315,665 vested Restricted Stock Units.

During the year ended December 31, 2024, the Company issued total of 3,695,211 shares of Class A Common Stock for paying off the promissory note and the convertible debt. See Note 9, Promissory Note and Note 12, Convertible Debt, in the accompanying notes to the consolidated financial statements for further detail.

F-34

NOTE 14 – Income Tax

The Company’s net deferred tax assets/(liabilities) consisted of the effects of temporary differences attributable to the following:

| Schedule of company’s net deferred tax assets  | (In thousands) |   | December 31, 
         2024 |   |     |   | December 31, 
         2023 |   |
|:-----------------------------------------------|:---------------|:--|-------------:|:--|:----|:--|-------------:|:--|
| Organizational costs/startup expenses          |                | $ |        1,432 |   |     | $ |        1,031 |   |
| Deferred revenue                               |                |   |           23 |   |     |   |           41 |   |
| Section 174 - software development cost        |                |   |        2,187 |   |     |   |        1,097 |   |
| Stock based compensation                       |                |   |          453 |   |     |   |          164 |   |
| Research credits                               |                |   |            - |   |     |   |            - |   |
| Other accruals                                 |                |   |           16 |   |     |   |           50 |   |
| Fixed assets                                   |                |