Company: XTIA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112615
Chunk: 87

Company: XTI Aerospace, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 87
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, including through our now expired ATM with Maxim and four public
offerings completed in January 2025, March 2025, June 2025 and September 2025 (collectively, the “Offerings”), and through
the issuance of promissory notes. We believe that our current revenue, as supplemented by proceeds from our financings, including the
approximately $57.1 million net proceeds we raised in the Offerings, a portion of which was used to fully repay short-term obligations
including the outstanding Streeterville promissory note balances, along with our ability to defer or eliminate certain operating expenses
that are under our control, will provide us with liquidity to fund our planned operating needs for at least the next twelve months.

According to our current development
schedule, we do not expect to obtain FAA type certification and other necessary regulatory approvals and commence deliveries of the TriFan
600 until 2030 at the earliest. We expect to fund our operations primarily through equity and/or debt financings at least until we commence
sustainable commercial operations of the TriFan 600. We filed a shelf registration statement on Form S-3 on August 1, 2025, which was
declared effective by the SEC on August 12, 2025, pursuant to which we may offer and sell, from time to time, in one or more offerings,
up to $1 billion in any combination of common stock, preferred stock, depositary shares, debt securities, warrants, units and subscription
rights until such shelf registration statement expires in August 2028.

48

Equity financing may result
in dilution to the interests of our existing stockholders and could involve issuing securities with rights, preferences, or privileges
senior to those of existing common stockholders. Similarly, debt financing could involve instruments with terms that supersede those
of preferred or common stockholders and may include operational restrictions. It is important to note that capital markets have experienced
volatility in the past and may do so again, which could impact our ability to raise funds on favorable terms or at all.

We currently do not have
material cash obligations related to existing contracts. As a result, our future cash needs are closely tied to management’s strategic
decisions regarding the pace and priorities of short- and long-term initiatives. These requirements are subject to fluctuation based
on operational choices, including the timing and scale of infrastructure and development of sub-scale and full-scale test aircraft. Factors
influencing our future capital needs include revenue