Company: XTIA
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001213900-25-045396
Chunk: 167

Company: XTI Aerospace, Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 8
Chunk 167
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     (4,892) 
    Decrease in accrued expenses and other current liabilities
  
     67  
    Increase in accrued interest
  
     46  
    Increase in deferred revenue
  
     (52) 
    Decrease in operating lease obligation
  
    $(5,614) 
    Net cash used in the changes in operating assets and liabilities

The decrease in accrued expenses and other current liabilities of approximately
$4.9 million was mainly attributable to (i) cash payments to settle the remaining accrued transaction bonuses and consulting fees owed
to prior Legacy Inpixon executives, and (ii) payment of accrued employee bonuses.

47

Operating Activities for the three months ended
March 31, 2024

Net cash used in operating
activities during the three months ended March 31, 2024 was approximately $2.6 million. The cash flows related to the three months ended
March 31, 2024 consisted of the following (in thousands):

    Net loss 
    $(2,602)
  
    Non-cash income and expenses 
     (719)
  
    Net change in operating assets and liabilities 
     770 
  
    Net cash used in operating activities 
    $(2,551)

The non-cash income and expense
of approximately $0.7 million consisted primarily of the following (in thousands):

    $13  
    Depreciation and amortization
  
     43  
    Amortization of intangible assets
  
     10  
    Amortization of right-of-use asset
  
     94  
    Non-cash interest expense, net of interest income
  
     5,792  
    Stock-based compensation
  
     (12,882) 
    Change in fair value of convertible notes payable
  
     6,732  
    Loss on extinguishment of debt
  
     (398) 
    Change in fair value of warrant liability
  
     (123) 
    Other
  
    $(719) 
    Total non-cash expenses

The net cash provided by the
change in operating assets and liabilities aggregated approximately $0.8 million and consisted primarily of the following (in thousands):

    $(143) 
    Increase in accounts receivable and other receivables
  
     (475) 
    Increase in inventories, prepaid expenses and other current assets and other assets
  
     1,662  
    Increase in accounts payable and related party payables
  
     (496)