Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 1331

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 3
Chunk 1331
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 in spend in salaries
$1.8 million ($2.7 million in Beyond Air offset by an increase of $0.9 million in Beyond Cancer), $8.3 million due to stock based
compensation cost ($2.3 million in Beyond Air and $6.0 million in Beyond Cancer),
$0.6 million professional fees ($0.8 million in Beyond Air offset by increased spend $0.1 million in Beyond Cancer and $0.1 million
in NeuroNos), $0.3 million marketing and advertising costs for Beyond Air, $0.4 million rent costs ($0.2 million in Beyond Air and
$0.2 million in Beyond Cancer), $0.4 million travel costs ($0.3 million in Beyond Air and $0.1 million in Beyond Cancer) offset by
an increase in Beyond Air of $0.4 million in legal fees and $0.2 million in royalty payments.

Other Income and Expense

Other expenses for the year ended
March 31, 2025 and March 31, 2024, was $3.9 million and of $1.3 million, respectively. The $2.6 million increase in expense is mainly
due to a loss on the extinguishment of debt of $2.4 million, a decrease in interest and dividend income from our investments in marketable
securities of $1.0 million, a loss in disposal of fixed assets of $0.2 million, an impairment of fixed assets $0.5 million and a change
in the fair value of warrant liability of $0.4 million on the Loan and Security Agreement, offset by a decrease of $0.6 million of non-product
related litigation and change in fair value of the derivative liability of $1.3 million on the Loan and Security Agreement.

Net Loss Attributable to Non-controlling Interest

Net loss attributed to non-controlling
interest for the year ended March 31, 2025, was $1.9 million for the year ended March 31, 2025, compared to $4.1 million for the year
ended March 31, 2024. Non-controlling interest represents 20% of the net loss of our Beyond Cancer subsidiary and 11.76% of the net loss
of our NeuroNos subsidiary. The year-on-year variance is due to a decrease in the net loss of Beyond Cancer partially offset by the loss
in NeuroNos, which the non-controlling interest was