Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 2220

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 9A
Chunk 2220
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 achieved, then AirJoule, LLC may be required to
record goodwill impairment charges in future periods. Based on the Company’s assessment performed, no impairment to
AirJoule, LLC’s goodwill or the Company’s equity method investment was identified as of December 31, 2024.

    Year Ended December 31, 2024 
  
    Revenue 
    $— 
  
    Net loss 
    $(10,642,734)

Note 6 — PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

    As of
 December 31, 2024  
    As of December 31, 2023 
  
    Machinery and equipment 
    $26,786  
    $7,728 
  
    Vehicles 
     5,295  
     5,295 
  
    Total cost 
     32,081  
     13,023 
  
    Less: Accumulated depreciation 
     (15,708) 
     (9,191)
  
    Property and equipment, net 
    $16,373  
    $3,832 

Depreciation expense related to the Company’s property and equipment
was $6,517 and $4,341 for the years ended December 31, 2024 and 2023, respectively, which were included within depreciation and amortization
in the consolidated statements of operations.

F-19

Note 7 — OTHER ACCRUED EXPENSES

The following table summarizes other accrued expenses:

    As of
 December 31, 2024  
    As of
 December 31, 2023 
  
    Accrued royalty 
    $250,000  
    $150,000 
  
    Accrued payroll 
     1,125,846  
     22,481 
  
    Professional services 
     205,790  
     58,021 
  
    Engineering consulting 
     —  
     1,700 
  
    Business development 
     —  
     1,425 
  
    Accrued other 
     138,682  
     10,813 
  
     Total other accrued expenses 
    $1,720,318  
    $244,440 

Note 8 — LEASES

As discussed in Note 9 – Related Party Transactions, the
Company had a property lease with a related party which terminated