Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 361

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 361
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ursuant
to the December 2024 RSA Agreement, the Company issued an aggregate of 85,383 shares to Mr. Ali valued at approximately $1.0
million. The full $1.0 million value of the shares was issued to Mr. Ali in partial satisfaction of amounts owed to Mr. Ali under
the Ali Consulting Agreement.

Other
Stock Issuances

On
June 6, 2024, the Company entered into a consulting agreement with a third party consultant, which has a term until December 10,
2024, pursuant to which the Company made a cash deposit of $0.1 million and issued 1,238 shares of restricted common stock valued
at approximately $0.3 million to the consultant as a prepayment for marketing and distribution services agreed to be rendered to
the Company over the six-month contract period.

On
June 7, 2024, the Company entered into a consulting agreement with a separate third-party consultant, which has a term of six months,
pursuant to which the Company issued 480 shares of restricted common stock valued at approximately $0.1 million to the consultant
as a prepayment for business development consulting services agreed to be rendered to the Company over the six-month contract period.

During
the year ended December 31, 2023, Legacy XTI issued and sold 64 shares of common stock to a non-executive officer and his family member
valued at approximately $0.2 million.

F-28

XTI
AEROSPACE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

Note 11
- Preferred Stock

The
Company is authorized to issue up to 5,000,000 shares of preferred stock with a par value of $0.001 per share with rights,
preferences, privileges and restrictions as to be determined by the Company’s Board of Directors.

Series
9 Preferred Stock

On
March 12, 2024, the Company filed the Certificate of Designations of Preferences and Rights of Series 9 Preferred Stock (the “Certificate
of Designation”), with the Secretary of State of Nevada, designating 20,000 shares of preferred stock, par value $0.001 of
the Company, as Series 9 Preferred Stock, which was amended by the Certificate of Amendment to