Company: XAIR
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023243
Chunk: 35

Company: Beyond Air, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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7 BASIC AND DILUTED NET INCOME (LOSS) PER SHARE OF COMMON STOCK

In
accordance with ASC 260, Earnings Per Share, warrants that are accounted for as liabilities which are potentially dilutive have
not been included in diluted earnings per share as they would have been anti-dilutive during the three months ended June 30, 2025.

The
following potentially dilutive securities were not included in the calculation of diluted net income (loss) per share attributable to
common stockholders of Beyond Air because their effect would have been anti-dilutive for the periods presented:

 SCHEDULE
OF POTENTIAL ANTI-DILUTIVE SECURITIES 

    June 30, 2025  
    June 30, 2024 

    Common stock warrants 
     3,254,966  
     511,251 
  
    Common stock options 
     728,262  
     558,343 
  
    Restricted shares 
     18,265  
     30,645 
  
    Loan and Security – conversion feature 
     -  
     69,509 
  
    Total 
     4,001,493  
     1,169,748 
  
    Anti-dilutive
    securities 
     4,001,493  
     1,169,748 

    19

BEYOND
AIR, INC. AND SUBSIDIARIES

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE
8 COMMITMENTS AND CONTINGENCIES

License
Agreements

In
August 2015, Beyond Air Ltd., a wholly-owned subsidiary of the Company (“BA Ltd.”) entered into an Option Agreement (the
“Option Agreement”) with Pulmonox Technologies Corporation (“Pulmonox”) whereby BA Ltd. acquired the option (the
“Option”) to purchase certain intellectual property assets and rights. On January 13, 2017, BA Ltd. exercised the Option
and paid $0.5 million to Pulmonox. BA Ltd. became obligated to make certain one-time development and sales milestone payments to Pulmonox,
commencing with the date on which BA Ltd. receives regulatory approval for the commercial sale of the first product candidate qualifying
under the Option Agreement. These milestone payments are capped at a total of $87 million across three separate and distinct indications
that fall under