Company: XAIR
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023243
Chunk: 24

Company: Beyond Air, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 of March 31, 2025, aggregated by
major security type:

    (in thousands) 
    Fair Value  
    Unrealized Gains 
  
    Mutual funds 
    $2,252  
    $39 
  
    Total short-term marketable securities 
    $2,252  
    $39 

    12

BEYOND
AIR, INC. AND SUBSIDIARIES

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

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

Level
3 Valuation

The
warrant liability is remeasured each reporting period with the change in fair value recorded to other income (expense) in the condensed
consolidated statement of operations and comprehensive loss until the warrants are exercised, expired, reclassified or otherwise settled.
The significant assumptions used in valuing the warrants were as follows:

 SCHEDULE OF VALUING THE WARRANTS  

    At June 30, 2025 
    Warrants 
  
    Expected term (in years) 
     3.0 
  
    Volatility 
     105.7%
  
    Risk-free rate 
     3.7%

    At March 31, 2025 
    Warrants 
  
    Expected term (in years) 
     3.25 
  
    Volatility 
     99.0%
  
    Risk-free rate 
     3.9%

The
following table is a summary of changes in the fair value of the Company’s Level 3 valuation for the warrants for the three months
ended June 30, 2025:

 SCHEDULE OF CHANGES IN FAIR VALUE OF WARRANTS  

    Warrants 
  
    Balance at March 31, 2025 
    $38 
  
    Change in fair value 
     (17)
  
    Balance at June 30, 2025 
    $21 

Cash
and Cash Equivalents, Short-Term Investments and Restricted Cash

The
Company considers all highly liquid investments with original maturities of three months or less at the date of purchase and an investment
in a U.S. government money market fund to be cash equivalents. The Company maintains its cash and cash equivalents in highly rated financial
institutions in Australia, Israel, Ireland and the U.S., the balances of which,