Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 76

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 76
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 by this item with respect to our equity compensation plans, please see Item 11 of this report.

Recent
Sales of Unregistered Securities and Use of Proceeds

During
the period covered by this Annual Report on Form 10-K, we have not sold any equity securities that were not registered under the Securities
Act that were not previously reported in a quarterly report on Form 10-Q or in a current report on Form 8-K.

Purchases
of Equity Securities by the Issuer and Affiliated Purchasers 

We
had no share repurchase activity for the three months ended December 31, 2024.

ITEM
6: [RESERVED]

ITEM
7: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The
following discussion and analysis of our financial condition and results of operations should be read in conjunction with the audited
financial statements and related notes included elsewhere in this Annual Report on Form 10-K. In addition to historical information,
this discussion and analysis here and throughout this Annual Report on Form 10-K contains forward-looking statements that involve risks,
uncertainties and assumptions. Our actual results may differ materially from those anticipated in these forward-looking statements, due
to a number of factors, including but not limited to, risks described in the section entitled “Risk Factors.”

39

Overview
of Our Business

The Company is primarily an aircraft development company. The Company
also provides real-time location systems (“RTLS”) for the industrial sector, which was Legacy Inpixon’s focus prior
to the closing of the XTI Merger. Headquartered in Englewood, Colorado, the Company is developing a vertical takeoff and landing (“VTOL”)
airplane that is designed to take off and land like a helicopter and cruise like a fixed-wing business airplane. We are primarily engaged
in developing the aerodynamic performance and top-level engineering design of the TriFan 600, building and testing a two-thirds scale
unmanned version of the TriFan 600, and seeking funds from investors to enable the Company to advance the detailed design and certification
of the TriFan 600, and to eventually engage in commercial production and sale of the TriFan 600.

Our RTLS solutions leverage
cutting-edge technologies such as IoT, AI, and big data analytics to provide real-time tracking and monitoring of assets, machines, and
people within industrial environments. With our RTLS solutions, businesses can achieve improved operational efficiency, enhanced safety
and