Company: SRFM
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0000950170-25-043326
Chunk: 145

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1B
Chunk 145
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    )

    Changes in operating assets and liabilities:

    Accounts receivable, net

    708

    (262
    )

    Prepaid expenses and other current assets

    977

    (959
    )

    Intangible assets, net

    —

    (336
    )

    Other assets

    (396
    )

    (126
    )

    Accounts payable

    9,530

    2,656

    Due to a related party

    (3,351
    )

    4,189

    Accrued expenses and other current liabilities

    9,416

    18,953

    Deferred revenue

    (4,334
    )

    2,884

    Operating lease liabilities

    (5,554
    )

    (2,179
    )

    Other liabilities

    (21
    )

    (33
    )

    Cash flows used in operating activities
     
    $
    (54,322
    )
     
    $
    (64,371
    )

    Cash flows from investing activities:

    Purchase of property and equipment

    (11,758
    )

    (7,588
    )

    Proceeds from the sale of fixed assets

    10,495

    —

    Net cash received from Southern Acquisition

    —

    678

    Internal-use software development costs

    (2,346
    )

    (190
    )

    Net cash used in investing activities
     
    $
    (3,609
    )
     
    $
    (7,100
    )

    Cash flows from financing activities:

    Proceeds from borrowings of long-term debt

    44,234

    —

    Payments of borrowings on convertible notes

    —

    (40
    )

    Principal payments on long-term debt

    (6,566
    )

    (1,349
    )

    Proceeds from borrowings of SAFE notes

    —

    3,716

    Proceeds from advances under Share Purchase Agreement

    3,894

    10,200

    Proceeds from collateralized borrowings, net of repayment

    2,793

    (33
    )

    Proceeds from borrowings on convertible notes

    —

    8,000

    Proceeds from borrowings from related parties

    34,522

    22,502