Company: AIRJW
Filing Date: 2025-05-05
Form Type: 424B3
Source: 0001213900-25-039770
Chunk: 235

Company: AirJoule Technologies Corp.
Filing Date: 2025-05-05
Form: 424B3
Chunk 235
---
            |
|:----------------------------------------------------|:----|:-------------|-----------:|
| Deferred tax assets                                 |     |              |            |
| Net operating losses                                |     | $            |  2,894,110 |
| Share-based compensation and other accrued expenses |     |              |    621,958 |
| Start-up costs                                      |     |              |    778,644 |
| Capitalized R&D expense                             |     |              |  1,287,402 |
| Lease liabilities                                   |     |              |     40,611 |
| Total deferred tax asset                            |     |              |  5,622,725 |
| Deferred tax liabilities                            |     |              |            |
| Outside basis in joint venture                      |     |              | 86,839,767 |
| Right-of-use asset                                  |     |              |     38,709 |
| Other                                               |     |              |        296 |
| Total deferred tax liability                        |     |              | 86,878,772 |
| Net deferred tax liabilities                        |     | $            | 81,256,047 |

<div align='center'>F-36

AIRJOULE TECHNOLOGIES CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>

Note 14 — INCOME TAX (cont.)

As of December 31, 2024, the Company has
generated federal net operating losses of $11.0 million and state net operating losses of $11.0 million. The federal and state
net operating loss carryforwards generated in tax year 2024 will never expire. Utilization of the net operating loss carryforwards may
be subject to an annual limitation according to Section 382 of the Internal Revenue Code of 1986 as amended, and similar provisions.

ASC 740 requires a valuation allowance to
reduce the deferred tax assets reported if, based on the weight of the evidence, it is more likely than not that some portion or all of
the deferred tax assets will not be realized. After consideration of all of the evidence, the Company has not recorded a valuation allowance
against its deferred tax assets at December 31, 2024 because management has determined that it is more likely than not that the Company
recognize the benefits of its federal and state deferred tax assets.

The Company recognizes interest accrued to unrecognized
tax benefits and penalties as income tax expense. The Company accrued total penalties and interest of $0 during the period ended December 31