Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 2140

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 8
Chunk 2140
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-40). This standard requires disclosure
of specific information about costs and expenses and becomes effective for fiscal years beginning after December 15, 2026 (fiscal 2028
for the Company), with early adoption permitted. The Company is assessing the impact of this ASU and, upon adoption, may be required to
include certain additional disclosures in the footnotes to the Consolidated Financial Statements.

    F-19

BEYOND AIR, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 3 PROPERTY AND EQUIPMENT

Property and equipment consist of the following:

 SCHEDULE OF PROPERTY AND EQUIPMENT

    (in thousands) 
    March 31,  2025  
    March 31, 2024 

    Clinical and medical equipment 
    $1,048  
    $2,174 
  
    Equipment deployable as part of a service offering 
     13,511  
     8,208 
  
    Computer equipment 
     927  
     860 
  
    Furniture and fixtures 
     506  
     534 
  
    Leasehold improvements 
     521  
     612 
  
    Property and equipment, gross 
     16,513  
     12,388 
  
    Accumulated depreciation 
     (5,500) 
     (3,024)
  
    Property
    and equipment, net 
    $11,013  
    $9,364 

Depreciation and amortization
for the years ended March 31, 2025 and March 31, 2024 was $3.0 million and $1.8 million, respectively.

    F-20

BEYOND AIR, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 4 STOCKHOLDERS’ EQUITY

On February 4, 2022, the Company entered into an At-The-Market
Equity Offering Sales Agreement with Truist Securities, Inc. (the “2022 ATM”), allowing the Company to sell its common stock
for aggregate sales proceeds of up to $50 million from time to time and at various prices, subject to the conditions and limitations set
forth in the 2022 ATM. If shares of the Company’s common stock are sold, there is a 3% fee paid to the sales agent. Pursuant to