Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 344

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 16
Chunk 344
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 to Use
Technology

Licensed right to use technology that is considered
platform technology with alternative future uses is recorded as an intangible asset and is amortized on a straight-line method over its
estimated useful life, determined to be thirteen years.

The expected amortization expense for the next five
years and thereafter is as follows for the year ended March 31 (in thousands):

 SCHEDULE OF FUTURE EXPECTED AMORTIZATION EXPENSE

    2026
     
    $
    205

    2027

    205

    2028

    205

    2029

    205

    2030

    205

    Thereafter

    197

    Total
     
    $
    1,222

Long-Lived Assets

The Company assesses the impairment of long-lived
assets on an ongoing basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors
that the Company considers as potential triggers of an impairment review include the following:

    ●
    significant underperformance relative to expected historical or projected future operating results,
  
    ●
    significant changes in the manner of the Company’s use of the acquired assets or the strategy for its overall business,
  
    ●
    significant negative regulatory or economic trends, and
  
    ●
    significant technological changes, which would render the platform technology, equipment, and manufacturing processes obsolete. 

Recoverability of assets that will continue to be
used in the Company’s operations is measured by comparing the carrying value to the future net undiscounted cash flows expected
to be generated by the asset or asset group. Future undiscounted cash flows include estimates of future revenues, driven by market growth
rates, and estimates of future costs. There were no events during the reporting periods that were deemed to be a triggering event that
would require an impairment assessment, other than an impairment of $0.5 million associated with certain R&D
assets following Management’s decision to put its VCAP clinical trial on hold.

    F-18

BEYOND AIR, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 2 SIGNIFICANT ACCOUNTING
POLICIES AND OTHER RISKS AND UNCERTAINTIES (continued)

Income Taxes

The Company accounts for income taxes using the asset
and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future tax consequences attributable to