Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 2566

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 9C
Chunk 2566
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 the consolidated balance sheets as current or non-current based
on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.

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, at times, may exceed federally insured limits. Marketable securities include investments in fixed
income bonds and U.S. Treasury securities that are considered to be highly liquid and easily tradeable. The marketable securities are
considered trading securities and are measured at fair value and are accounted for in accordance with ASC 320. The marketable securities
are valued using inputs observable in active markets for identical securities and are therefore classified as Level 1 within the Company’s
fair value hierarchy.

As of March 31, 2025 and March 31, 2024, restricted
cash included approximately $0.2 million and $0.2 million, respectively.

Concentration of Credit Risk

Financial instruments that potentially subject the
Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the federal depository
insurance coverage of $250,000 in the United States, A$250,000 in Australia, $25,000 in Bermuda, €100,000 in Ireland and €100,000
in Cyprus. There is currently no official federal depository insurance in Israel. The Company has not experienced losses on these accounts,
and management believes the Company is not exposed to significant risks on such accounts. As of March 31, 2025, the Company had greater
than $250,000 at United States financial institutions, greater than A$250,000 at Australian financial institutions, greater than €100,000
at Irish financial institutions and also has funds on deposit in Israel. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial
condition, results of operations and cash flows.

    F-14

BEYOND AIR, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 

NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER
RIS