Company: QXO-PB
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001628280-25-009626
Chunk: 28

Company: QXO, Inc.
Filing Date: 2025-03-04
Form: 10-K
Item: Item 16
Chunk 28
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42023Cash paid for amounts included in the measurement of lease liabilities:Operating cash flows for operating leases$279 $376 Financing cash flows for finance leases$170 $215 Leased assets obtained in exchange for new lease obligations:Operating leases$— $562 Finance leases$87 $— The table below presents the maturity of lease liabilities as of December 31, 2024:(in thousands)Operating LeasesFinance Leases2025$197 $149 202673 148 2027— 62 Total lease payments270 359 Less: interest(11)(41)Present value of lease liabilities$259 $318 

NOTE 8 – COMMITMENTS AND CONTINGENCIES

Legal MattersVarious legal claims arise from time to time in the normal course of business. In assessing loss contingencies related to legal proceedings that are pending against the Company, or unasserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. The Company believes that it has adequately accrued for the potential impact of loss contingencies that are probable and reasonably estimable, and does not believe that the ultimate resolution of any matters to which it is presently a party will have a material adverse effect on the Company’s results of operations, financial condition or cash flows. However, the results of these matters cannot be predicted with certainty, and an unfavorable resolution of one or more of these matters could have a material adverse effect on the Company’s financial condition, results of operations or cash flows.

NOTE 9 – ASSET PURCHASE AGREEMENT

On November 13, 2023, SWK Technologies, Inc. acquired the customer list and prepaid time from clients of JCS Computer Resource Corporation (“JCS”) pursuant to an Asset Purchase Agreement for cash of $278,500 and a promissory note in the amount of $1.0 million (the “JCS Note”) for a total consideration of $1.3 million. The customer list was recognized as an intangible asset and will be amortized over its estimated useful life. The JCS Note balance was paid in full on July 24, 2024.

NOTE 10 – EQUITY-BASED COMPENSATION

At the special meeting of the Company's stockholders on May 30, 2024, the stockholders approved the QXO, Inc