Company: CXAI
Filing Date: 2025-05-09
Form Type: S-1
Source: 0001829126-25-003532
Chunk: 76

Company: CXApp Inc.
Filing Date: 2025-05-09
Form: S-1
Chunk 76
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 operating and investing activities.

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As of December 31, 2024, the Company has a working capital deficit of approximately $4,496 thousand and cash of approximately $4,880 thousand. For the period ended December 31, 2024 (Successor), the Company incurred net loss of approximately $19,408 thousand. For the ended December 31, 2024 (Successor), the Company used approximately $7,325 thousand of cash for operating activities, of which $453 thousand was from a reduction in accounts payable, primarily from paying vendors and consultants. For the period from March 15, 2023, to December 31, 2023 (Successor), the Company used approximately $12,766 thousand cash for operating activities. The Predecessor Company used approximately $5,144 thousand cash for operating activities for period January 1, 2023, to March 14, 2023.

Management believes that the current liquidity position, including under the Streeterville Purchase Agreement, pursuant to which Streeterville desires to purchase up to $10,000 thousand in shares of the Company’s common stock, par value $0.0001, with $3,000 thousand still available to withdraw and with additional $20,000 thousand equity line of credit signed on March 25, 2025, has the ability to mitigate any going concern indicators for a period of at least one year from the date these financial statements are issued.

Liquidity and Capital Resources as of December 31, 2024, Compared with December 31, 2023

The Company’s net cash flows used in operating, investing and financing activities and certain balances are as follows (in thousands):

|                                                      |     | Successor |   Year ended 
 December 31, 
         2024 |   |     |   |  Period from 
    March 15, 
      2023 to 
 December 31, 
         2023 |   |     | Predecessor | Period from 
  January 1, 
     2023 to 
   March 14, 
        2023 |   |
|:-----------------------------------------------------|:----|:----------|-------------:|:--|:----|:--|-------------:|:--|:----|:------------|------------:|:--|
| Net cash used in operating activities                |     | $         |       (7,325 | ) |     | $ |