Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 473

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 3
Chunk 473
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 Section 404 of the Sarbanes-Oxley Act, management is responsible for establishing and maintaining adequate internal control over financial reporting. Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of consolidated financial statements in accordance with U.S. GAAP.

Internal control over financial reporting includes those policies and procedures that:

    1.
    Pertain to the maintenance of records that accurately and fairly reflect transactions and dispositions of company assets.

    2.
    Provide reasonable assurance that transactions are recorded to permit preparation of financial statements in accordance with GAAP, and receipts and expenditures are made only in accordance with management and director authorizations; and

    3.
    Provide reasonable assurance regarding prevention or timely detection of unauthorized use or disposition of assets that could have a material effect on the financial statements.

Management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2024, using the criteria set forth in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Based on this assessment, management concluded that internal control over financial reporting was not effective as of December 31, 2024.

Changes in Internal Control Over Financial Reporting

As the material weaknesses described above were identified subsequent
to December 31, 2024, there were no changes in our internal control over financial reporting.

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Limitations on Effectiveness of Controls

Our disclosure controls and internal control over financial reporting are designed to provide reasonable assurance of achieving their objectives. Because of inherent limitations, internal controls may not prevent or detect all errors or fraud. Moreover, the design of any control system must consider the risk that controls may become inadequate due to changing conditions or that compliance with policies and procedures may deteriorate over time.

Item 9.B. Other Information.

Insider Trading Arrangements and Policies

During the year ended December 31, 2024, no director or officer of CXApp notified CXApp of the adoption, modification or termination of a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

Item 9.C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspection.

Not applicable.

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PART III.

Item 10. Directors, Executive Officers and Corporate Governance.

Our officers and directors are as follows:

    Name