Airship AI Holdings Inc

For the period ended Dec 31, 2024. Filed Feb 28, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 28, 2025

AISP$1.69-2.3%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Year Ended · Year Ended
December 31, 2024 · December 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss		$(57,464,890)		$16,371,134
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization		1,861		14,879
Stock-based compensation		1,078,344		715,727
Stock-based compensation- warrants		284,478		2,136,115
Amortization of operating lease right of use asset		222,780		596,556
Accelerated amortization of ROU asset - lease termination		-		265,130
Gain from lease termination		-		(344,093)
Issuance of common stock for services		198,500		-
Noncash interest expense		1,008,419		-
Loss (gain) from change in fair value of warrant liability		33,512,633		(1,341,120)
Loss (gain) from change in fair value of earnout liability		18,171,380		(21,976,349)
Loss from change in fair value of convertible note		141,636		240,784
Loss on note conversion		1,144,676		-
Non cash interest, net		-		65,487
Changes in operating assets and liabilities:
Accounts receivable		422,147		(943,152)
Prepaid expenses and other		485		(2,329)
Other assets		16,373		(182,333)
Operating lease liability		(174,875)		(531,621)
Payroll and income tax receivable		7,230		960,383
Accounts payable - trade and accrued expenses		(2,294,698)		666,136
Deferred revenue		(2,780,447)		(2,667)
NET CASH USED IN OPERATING ACTIVITIES		(6,503,968)		(3,291,333)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of common stock and warrants for offering, net		7,290,000		-
Proceeds from convertible promissory note		-		2,584,582
Proceeds from warrant exercise, net		7,704,540		-
Advances from founders, net		(450,000)		1,150,000
Proceeds from reverse recapitalization		-		2,809,792
Proceeds from stock option exercises		240,507		-
Repayment of small business loan and line of credit		-		(424,540)
NET CASH PROVIDED BY FINANCING ACTIVITIES		14,785,047		6,119,834
NET INCREASE IN CASH AND CASH EQUIVALENTS		8,281,079		2,828,501
Effect from exchange rate on cash		9,338		(2,702)
CASH AND CASH EQUIVALENTS, beginning of period		3,124,413		298,614
CASH AND CASH EQUIVALENTS, end of period		$11,414,830		$3,124,413
Supplemental disclosures of cash flow information:
Interest paid		$11,913		$21,438
Taxes paid		$2,410		$17,247
Noncash investing and financing
Elimination of advances to founders in connection with contribution of Zeppelin by shareholders	$	-		$1,100,000
Elimination of payables to founders in connection with contribution of Zeppelin by shareholders	$	-		$1,100,000
Issuance of common stock for debt interest payment		$1,008,442	$	-
Issuance of common stock for debt conversion		$4,114,831	$	-
Recognition of warrant liability	$	-		$15,418
Recognition of right-of-use asset	$	-		$1,162,152
Recognition of operating lease liability	$	-		$1,162,152
Noncash activity related to Merger-
Recognition of warrant liability	$	-		$2,009,105
Recognition of earnout liability	$	-		$27,109,777
Recognition of accounts payable	$	-		$1,500,000

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.