Company: XAIR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005678
Chunk: 192

Company: Beyond Air, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 4
Chunk 192
---
Evaluation
of Disclosure Controls and Procedures

We
carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer
(our principal executive officer) and Chief Financial Officer (our principal financial officer), of the effectiveness of the design and
operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act. Disclosure controls
and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an
issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management,
including its principal executive and principal financial officers, or persons performing similar functions, as appropriate, to allow
timely decisions regarding required disclosure. Management recognizes that any controls and procedures, no matter how well designed and
operated, can provide only reasonable assurance of achieving their objectives and management necessarily applies its judgment in evaluating
the cost-benefit relationship of possible controls and procedures. Based upon our evaluation, our Chief Executive Officer and Chief Financial
Officer concluded that our disclosure controls and procedures were effective at the reasonable assurance level as of December 31, 2024.

Changes
in Internal Control Over Financial Reporting

During
the three months ended December 31, 2024, there were no changes made to our internal control over financial reporting that materially
affected, or that are reasonably likely to materially affect our internal control over financial reporting.

 37 

PART
II OTHER INFORMATION

ITEM
1. Legal Proceedings

None.

ITEM
1A. Risk Factors

There
have been no material changes to the risk factors previously disclosed in Part I, “Item 1A. Risk Factors” of our 2024 Annual
Report except as set forth below.

If
we are unable to maintain listing of our securities on the Nasdaq Capital Market, our stock price could be adversely affected and the
liquidity of our stock and our ability to obtain financing could be impaired and it may be more difficult for our shareholders to sell
their securities. 

Although
our common stock is currently listed on the Nasdaq Capital Market, we may not be able to continue to meet the exchange’s minimum
listing requirements or those of any other national exchange. If we are unable to maintain our listing on the Nasdaq Capital Market,
our common stock may be thinly traded.

On
August 8, 2024, the Company received a letter from the staff