Company: AIRTP
Filing Date: 2025-08-12
Form Type: 10-K/A
Source: 0000353184-25-000069
Chunk: 78

Company: AIR T INC
Filing Date: 2025-08-12
Form: 10-K/A
Chunk 78
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 Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources” and the Notes to Consolidated Financial Statements for a description of our accounting policies and other information related to these financial instruments.

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Item 8. Financial Statements and Supplementary Data .

<div align='center'>INDEX TO FINANCIAL STATEMENTS</div>

|                                                                                               |     |    |     | Page |
| AIR T, INC. CONSOLIDATED FINANCIAL STATEMENTS                                                 |     |    |     |      |
| Report of Independent Registered Public Accounting Firm                                       |     | 45 |     |      |
| Consolidated Statements of Income(Loss)for the Years EndedMarch 31, 2025and2024               |     | 47 |     |      |
| Consolidated Statements of Comprehensive Income(Loss)for the Years EndedMarch 31, 2025and2024 |     | 48 |     |      |
| Consolidated Balance Sheets as ofMarch 31, 2025and2024                                        |     | 49 |     |      |
| Consolidated Statements of Cash Flows for the Years EndedMarch 31, 2025and2024                |     | 50 |     |      |
| Consolidated Statements of Equity for the Years EndedMarch 31, 2025and2024                    |     | 52 |     |      |
| Notes to Consolidated Financial Statements                                                    |     | 54 |     |      |

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the stockholders and the Board of Directors of Air T, Inc.

#### Opinion on the Financial Statements
We have audited the accompanying consolidated balance sheets of Air T, Inc. and subsidiaries (the “Company”) as of March 31, 2025 and 2024, the related consolidated statements of income (loss), comprehensive income (loss), equity, and cash flows, for each of the two years in the period ended March 31, 2025, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of March 31, 2025 and 2024, and the results of its operations and its cash flows for each of the two years in the period ended March 31, 2025, in conformity with accounting principles generally accepted in