XTI Aerospace, Inc.
For the period ended Dec 31, 2024. Filed Apr 15, 2025.
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FY2024 · Filed Apr 15, 2025
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Item 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
ITEM 14: PRINCIPAL ACCOUNTANT FEES AND SERVICES
The Company incurred the following fees for services rendered by Marcum LLP, Company’s independent registered public accounting firm, for the fiscal years ended December 31, 2024 and 2023.
| 2024 | 2023 | |
|---|---|---|
| Audit Fees(1) | $1,100,885 | $318,554 |
| Audit Related Fees | $— | $688,220 |
| Tax Fees | $— | $— |
| All Other Fees | $— | $— |
| (1) | Audit fees represent fees for professional services provided in connection with the audit of our Company’s 2024 and 2023 annual consolidated financial statements included in this Annual Report on Form 10-K and review of our quarterly financial statements included in the Company’s Quarterly Reports on Form 10-Q and audit services provided in connection with other statutory or regulatory filings. Audit fees also include fees for professional services provided in connection with the audits of Legacy XTI’s 2023 and 2022 financial statements. |
Audit Fees. The “Audit Fees” are the aggregate fees of Marcum attributable to professional services rendered in 2024 and 2023 for the audit of our annual financial statements in our annual reports on Form 10-K, for review of financial statements included in our quarterly reports on Form 10-Q or for services that are normally provided by Marcum in connection with statutory and regulatory filings or engagements for that fiscal year. These fees include fees billed for professional services rendered by Marcum for the review of registration statements or services that are normally provided in connection with statutory and regulatory filings or engagements for those fiscal years.
Audit-Related Fees. Marcum did not perform any audit-related services in 2024. The audit-related fees for 2023 related to acquisitions and fees for special audits related to our transactions.
Tax Fees. Marcum did not perform any tax advice or planning services in 2024 or 2023.
All Other Fees. Marcum did not perform any services for us or charge any fees other than the services described above in 2024 and 2023.
Pre-approval Policies and Procedures
The Audit Committee is required to review and approve in advance the retention of the independent auditors for the performance of all audit and lawfully permitted non-audit services and the fees for such services. The Audit Committee may delegate to one or more of its members the authority to grant pre-approvals for the performance of certain non-audit services, and any such Audit Committee member who pre-approves a non-audit service must report the pre-approval to the full Audit Committee at its next scheduled meeting. The Audit Committee is required to periodically notify the Board of their approvals. The required pre-approval policies and procedures were complied with during 2024.
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