Company: XAIR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005678
Chunk: 140

Company: Beyond Air, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part II, Item 8
Chunk 140
---
): 

    Operating activities 
    $(31,261) 
    $(45,289)
  
    Investing activities 
     12,324  
     (10,568)
  
    Financing activities 
     12,146  
     27,274 
  
    Effect of exchange rate changes on cash and cash equivalents 
     (16) 
     18 
  
    Net increase (decrease) in cash, cash equivalents and restricted cash 
    $(6,776) 
    $(28,565)

Operating
Activities

For
the nine months ended December 31, 2024, the net cash used in operating activities was $31.2 million which was primarily due to our net
loss of $40.4 million, which includes $9.0 million of stock-based compensation, $2.5 million costs related to the extinguishment of the
Loan and Security agreement (the “Loan and Security Agreement”) with Avenue Capital Management II, L.P., as administrative
agent and collateral agent (the “Agent”), Avenue Venture Opportunities Fund, L.P., a Delaware limited partnership (“Avenue”),
and Avenue Venture Opportunities Fund II, L.P, a Delaware limited partnership (“Avenue 2” and, together with Avenue, the
“Lenders”), $2.2 million of depreciation and amortization, $1.6 million in prepayments and other assets, $0.9 million in
amortization of debt discount, offset by $ 4.5 million of accrued expenses (which included ($4.5) million of the payment of the final
tranche with Circassia Limited and its affiliates (“Circassia”) and ($2.9) million for the Hudson settlement and ($7.6) million
attributable to the resolution of Empery Asset Master, Ltd. Et AL, vs AIT Therapeutics Inc.), and $1.6 million change in the fair
value of the warrant and derivative liabilities.

For
the nine months ended December 31, 2023, the net cash used in operating activities was $45.3 million which was primarily due to our net
loss of $49.7 million, which includes $19.0 million of stock-based compensation, $0.4 million received in grant payments, $1.2 million
of depreciation and amortization and $0.5 million decrease in accounts payable, $1.8 million increase in prepaid accounts, partially
offset by ($3.5)