Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 273

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1A
Chunk 273
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 administrative expenses consist primarily of personnel-related expenses for our executives, consultants and advisors. These expenses also include non-personnel costs, such as rent, office supplies, legal, audit and accounting services and other professional fees.

    ●
    Research and development: Research and development expenses include internal personnel, parts, prototypes and third-party consulting costs related to preliminary research and development of our products.

    ●
    Sales and marketing: Sales and marketing expenses consist primarily of business development professional fees, advertising and marketing costs.

    ●
    Transaction costs incurred in connection with business combination: Transaction costs represent the initial recognition of the earnout shares liability and fees incurred for financial advisory, legal and other professional services that were directly related to the Business Combination.

    ●
    Depreciation and amortization: Depreciation and amortization expense consists of depreciation of property and equipment.

27

Results of Operations

The following tables set forth the results of our operations for the
periods presented, as well as the changes between periods. The period-to-period comparison of financial results is not necessarily indicative
of future results.

The year ended December 31, 2024 compared
to the year ended December 31, 2023

The following table sets forth the Company’s consolidated statements
of operations data for the year ended December 31, 2024 and 2023:

    Year Ended December 31, 

    2024  
    2023  
    Change ($) 

    Cost and expenses: 

    General and administrative 
    $9,042,150  
    $7,540,702  
    $1,501,448 
  
    Research and development 
     2,020,388  
     3,305,612  
     (1,285,224)
  
    Sales and marketing 
     150,927  
     540,002  
     (389,075)
  
    Transaction costs incurred in connection with business combination 
     54,693,103  
     —  
     54,693,103 
  
    Depreciation and amortization 
     6,517  
     4,341  
     2,176 
  
    Loss from operations 
     (65,913,085) 
     (11,390,657) 
     54,522,428 

    Other income (expense): 

    Interest income 
     932