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iso4217:USD shares pure XAIR:Integer iso4217:AUD iso4217:EUR false FY 0001641631 http://fasb.org/us-gaap/2026#UsefulLifeTermOfLeaseMember 10-K true 2026-03-31 --03-31 2026 false 001-38892 BEYOND AIR, INC. DE 47-3812456 900 Stewart Avenue Suite 301 Garden City NY 11530 516 665-8200 Common Stock, par value $0.0001 per share XAIR NASDAQ No No Yes Yes Non-accelerated Filer true false false false false 15500000 14410621 0.0001 None <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We rely on sophisticated information technology systems and network infrastructure to operate and manage our business. We also maintain personally identifiable information (“PII”) about our employees, and given the nature of our business, we have access to protected health information (“PHI”). Our business therefore depends on the continuous, effective, reliable, and secure operation of our computer hardware, software, networks, Internet servers, and related infrastructure. To the extent that our hardware or software malfunctions or access to our data by internal personnel, suppliers or customers through the Internet is interrupted or compromised, our business could suffer.</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The integrity and protection of our customer, personnel, financial, research and development, and other confidential data is critical to our business, and our customers and employees have a high expectation that we will adequately protect their personal information. The regulatory environment governing information, security and privacy laws is increasingly demanding and continues to evolve and a number of states have adopted laws and regulations that may affect our privacy and data security practices regarding the use, disclosure and protection of PII. For example, the California Consumer Privacy Act (“the CCPA”), among other things, creates individual privacy rights and imposes increased obligations on companies handling PII.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Although our computer and communications hardware are protected through physical and software safeguards, they are still vulnerable to system malfunction, computer viruses, malware and ransomware, and other cybersecurity threats such as phishing and social engineering attacks. These events could lead to unauthorized access to our information technology systems and result in financial loss and the misappropriation or unauthorized disclosure of confidential information belonging to us, our employees, partners, customers, or suppliers. The techniques used by criminal elements to attack computer systems are sophisticated, change frequently and may originate from less regulated and remote areas of the world. As a result, we may not be able to address these techniques proactively or implement adequate preventative measures. If our information technology systems are compromised, we could be subject to fines, damages, litigation and enforcement actions, incur financial losses, suffer reputational damage, and lose trade secrets or other confidential information, each of which could significantly harm our business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cybersecurity Program </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Given the importance of cybersecurity to our business, we maintain a robust cybersecurity program to support both the effectiveness of our systems and our preparedness for information security risks. This program includes a number of administrative, physical, and technical safeguards with regular evaluations of our cybersecurity program, including periodic internal and external audits, penetration tests, and incident response simulations. We also require cybersecurity training when onboarding new employees and contractors, as well as required cybersecurity awareness training for our employees and contractors/other workforce members. Our program leverages industry frameworks, including the National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF) to strengthen our program effectiveness and reduce cybersecurity risks.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We use a risk-based approach with respect to our use and oversight of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_903_ecyd--CybersecurityRiskManagementThirdPartyEngagedFlag_dbT_c20250401__20260331_zOJNnD4VcKS4">third-party</span> service providers. We use a number of means to assess cyber risks related to our third-party service providers, including maintaining vendor questionnaires/conducting due diligence in connection with onboarding new vendors and engaging in periodic reviews thereafter as appropriate.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Process for Assessing, Identifying and Managing Material Risks from Cybersecurity Threats </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90D_ecyd--CybersecurityRiskThirdPartyOversightAndIdentificationProcessesFlag_dbT_c20250401__20260331_ztjs18riHI85">In the event of a cybersecurity incident, we maintain a regularly tested incident response program. Pursuant to the program and its escalation protocols, designated personnel are responsible for assessing the severity of an incident and associated threat, and handling it in accordance with that severity level. We have relationships with a number of third-party service providers to assist with cybersecurity containment and remediation efforts.</span></span></p> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span> true true <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Governance</i></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon a notification of concerning factors which may be indicative that a notable cybersecurity incident has occurred, the Cyber Security Subcommittee (Cyber Security Subcommittee) consisting of General Counsel, Head of HR &amp; Chief Technical Officer (CTO) meets to make an initial assessment. If the Cyber Security Subcommittee determines there is a reasonable likelihood a notable cybersecurity incident has occurred, then notice will promptly be given to certain members of the Company Executive Team including our Chief Executive Officer, Chief Operating Officer, Chief Commercial Officer &amp; Chief Financial Officer.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our team leverages over 25 years of experience in various cyber security functions. Our CTO, and their team, are responsible for the day-to-day management of the cybersecurity program.</span></p> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The CTO provides periodic briefings for our senior management team on cybersecurity matters, including the prevention, detection, mitigation, and remediation of cybersecurity incidents and cybersecurity threats.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Board Oversight</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While the <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_904_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleReportToBoardFlag_dbT_c20250401__20260331_z3eUtle6fKG6">Board of Directors</span> has overall responsibility for risk oversight, our Audit Committee oversees cybersecurity risk matters. The Audit Committee is responsible for reviewing, discussing with management, and overseeing the Company’s cybersecurity and privacy risk exposures and policies. On a quarterly basis, the CTO reports to the Audit Committee on information technology and cybersecurity matters, including key information technology risks. The CTO also apprises the Audit Committee and full Board of cyber security incidents consistent with our incident response program, promptly.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cybersecurity Risks</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.75pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_908_ecyd--CybersecurityRiskManagementProcessesIntegratedTextBlock_c20250401__20260331_zhCF0LHHwgka">Our cybersecurity risk management processes are <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_907_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbT_c20250401__20260331_ziJok1OLMwVj">integrated</span> into our overall Enterprise Risk Management (“ERM”) process. As part of our ERM process, department leaders identify, assess, and evaluate risks impacting our operations across the Company, including those risks related to cybersecurity.</span> Department leaders are asked to consider the severity and likelihood of certain risk factors, drawing upon their company knowledge and past business experience. While we maintain a robust cybersecurity program, the techniques used to infiltrate information technology systems continue to evolve. Accordingly, we may not be able to timely detect threats or anticipate and implement adequate security measures. For additional information, see “Item 1A—Risk Factors.” To date, we have not experienced any material cybersecurity incidents or threats.</span></p> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span> true Our cybersecurity risk management processes are <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_907_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbT_c20250401__20260331_ziJok1OLMwVj">integrated</span> into our overall Enterprise Risk Management (“ERM”) process. As part of our ERM process, department leaders identify, assess, and evaluate risks impacting our operations across the Company, including those risks related to cybersecurity. true true 100 We have audited the accompanying consolidated balance sheets of Beyond Air, Inc. (the “Company”) as of March 31, 2026 and 2025, and the related consolidated statements of operations and comprehensive loss, changes in stockholders’ equity, and cash flows for each of the two years in the period ended March 31, 2026, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of Beyond Air, Inc. as of March 31, 2026 and 2025, and the results of its operations and its cash flows for each of the two years in the period ended March 31, 2026, in conformity with accounting principles generally accepted in the United States of America. WithumSmith+Brown, PC East Brunswick, New Jersey 6740000 4665000 4901000 2252000 5622000 231000 1086000 710000 1406000 2417000 5012000 5743000 24767000 16018000 1018000 1222000 1193000 1706000 8249000 11013000 158000 103000 35385000 30062000 2417000 1950000 3372000 2045000 321000 396000 401000 609000 6511000 5000000 1023000 1486000 21639000 9197000 2000 38000 29175000 15721000 0.0001 0.0001 10000000 10000000 0 0 0 0 0.0001 0.0001 500000000 500000000 11792684 11792684 4128539 4128539 1000 25000 25000 325587000 299990000 -319571000 -286322000 134000 -60000 6126000 13583000 84000 758000 6210000 14341000 35385000 30062000 7679000 3705000 7427000 5368000 252000 -1663000 10241000 16857000 19055000 26017000 29296000 42874000 -29044000 -44537000 303000 705000 3515000 3019000 -35000 -237000 -1395000 1314000 -108000 -3000 -165000 -2447000 -431000 -738000 -14000 9000 -5290000 -3942000 -34334000 -48479000 -34334000 -48479000 -1085000 -1854000 -33249000 -46625000 194000 -45000 -33055000 -46670000 -4.01 -4.01 -13.77 -13.77 8300916 8300916 3385327 3385327 2295042 -25000 264785000 -239697000 -15000 2138000 27186000 337101 2151000 2151000 1250000 18858000 18858000 3159000 3159000 234156 365000 365000 12240 1765000 235000 2000000 8907000 239000 9146000 -45000 -45000 -46625000 -1854000 -48479000 4128539 -25000 299990000 -286322000 -60000 758000 14341000 2441775 1000 8134000 8135000 46 524990 4500000 4500000 1183000 1183000 3088704 2868000 2868000 8630 1600000 3341000 3341000 573000 127000 700000 4998000 284000 5282000 194000 194000 -33249000 -1085000 -34334000 11792684 1000 -25000 325587000 -319571000 134000 84000 6210000 -34334000 -48479000 3047000 2999000 5282000 9146000 551000 1028000 204000 205000 398000 367000 -35000 -237000 -1395000 1314000 -60000 672000 177000 91000 119000 -165000 -2447000 -505000 -431000 -334000 1762000 696000 -1110000 466000 468000 390000 -683000 -1048000 267000 399000 1127000 -6358000 -373000 -385000 -18144000 -38218000 4053000 30878000 1404000 51656000 -10000 1025000 5883000 -3674000 14905000 8135000 2151000 700000 2000000 4500000 18858000 2869000 365000 90000 14000000 11324000 996000 208000 18052000 29090000 16646000 194000 -45000 7466000 -6712000 4896000 11608000 12362000 4896000 1094000 3249000 775000 457000 693000 398000 396000 139000 1171000 423000 1197000 <p id="xdx_80F_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_z3WmsQszL7N" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 <span id="xdx_821_zIxTspTZWQjb">ORGANIZATION AND BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beyond Air, Inc. (together with its subsidiaries, “Beyond Air” or the “Company”) was incorporated on April 28, 2015 under Delaware law. On June 25, 2019, the Company’s name was changed to Beyond Air, Inc. from AIT Therapeutics, Inc.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is a commercial-stage medical device and biopharmaceutical company developing a platform of nitric oxide (“NO”) generators and delivery systems (the “LungFit^® platform”) capable of generating NO from ambient air. The Company’s first device, LungFit^®PH (“LungFit^®PH”) received premarket approval (“PMA”) from the U.S. Food and Drug Administration (“FDA”) in June 2022. The NO generated by the LungFit® PH system is indicated to improve oxygenation and reduce the need for extracorporeal membrane oxygenation in term and near-term (&gt;34 weeks gestation) neonates with hypoxic respiratory failure associated with clinical or echocardiographic evidence of pulmonary hypertension in conjunction with ventilatory support and other appropriate agents. This condition is commonly referred to as persistent pulmonary hypertension of the newborn (“PPHN”). The LungFit^® platform can generate NO up to 400 parts per million (“ppm”) for delivery to a patient’s lungs directly or via a ventilator. LungFit^®can deliver NO either continuously or for a fixed amount of time at various flow rates and has the ability to either titrate dose on demand or maintain a constant dose. In July 2022, the Company commenced marketing LungFit^® PH in the United States for PPHN as a medical device.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the Company received European CE mark approval of the LungFit PH® system for the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The treatment of infants <span style="text-decoration: underline">&gt;</span>34 weeks gestation with hypoxic respiratory failure associated with clinical or echocardiographic evidence of pulmonary hypertension, in order to improve oxygenation and to reduce the need for extracorporeal membrane oxygenation; and </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The treatment of peri- and post-operative pulmonary hypertension in adults and newborn infants, infants and toddlers, children and adolescents, ages 0-17 years in conjunction to heart surgery, in order to selectively decrease pulmonary arterial pressure and improve right ventricular function and oxygenation.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">LungFit^® can be used to treat patients on ventilators that require NO, as well as patients with chronic or acute severe lung infections via delivery of NO at concentrations &gt; 100 parts per million (ppm) through a breathing mask or similar apparatus. The Company’s other areas of focus with the LungFit^® platform beyond PPHN are nontuberculous mycobacteria (“NTM”) lung infection and those with various severe lung infections with underlying chronic obstructive pulmonary disease (“COPD”). The Company’s current product candidates will be subject to premarket reviews and approvals by the FDA, certification through the conduct of a conformity assessment by a notified body in the EU for the product to be CE marked, as well as comparable foreign regulatory authorities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With Beyond Air’s focus on NO and its effect on the human condition, the Company has two additional programs that do not utilize the LungFit^® system. Through the Company’s majority-owned affiliate Beyond Cancer, Ltd. (“Beyond Cancer”), NO is used to target solid tumors. The LungFit^®platform is not utilized for the solid tumor indication due to the need for ultra-high concentrations of gaseous nitric oxide (“UNO”). A proprietary delivery system has been developed that is designed to safely deliver UNO in excess of 10,000 ppm directly to a solid tumor. This program has completed a phase 1a human clinical trial.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 4, 2021, Beyond Air reorganized its oncology business into a new private company called Beyond Cancer. Beyond Air’s preclinical oncology team and the exclusive right to the intellectual property portfolio utilizing UNO for the treatment of solid tumors now reside with Beyond Cancer. Beyond Air has <span id="xdx_909_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20211104__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BeyondCancerLtdMember_zTJQOonCGnPe" title="Ownership percentage">80</span>% ownership in Beyond Cancer.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The second program which does not utilize the LungFit® platform partially inhibits neuronal nitric oxide synthase (“nNOS”) in the brain to treat neurological conditions. The first target indication is autism spectrum disorder (“ASD”). On June 15, 2023, the Company announced that it has entered into an agreement with Yissum Research Development Company of the Hebrew University of Jerusalem, LTD. (the “University”) to acquire the commercial rights for nNOS inhibitors being developed for the treatment of ASD and other neurological conditions. Currently, there are no FDA-approved therapies specifically for the treatment of ASD. Under the terms of the agreement, Beyond Air will make payments to the University over the three-year period from the date of the agreement for pre-clinical work. Also, the Company will pay a low single-digit royalty on net sales and certain one-time payments based on clinical, regulatory and sales milestones.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 24, 2025, Beyond Air reorganized its neurology business into a new private company called NeuroNOS. Beyond Air’s infrastructure, for example regulatory, quality, legal, etc., is currently supporting the NeuroNOS team. Beyond Air has <span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20250324__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NeuroNosLtdMember_z9io6NDSdA6l" title="Ownership percentage">84.75</span>% ownership in NeuroNOS.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s current product candidates will be subject to premarket reviews and approvals by the FDA, certification through the conduct of a conformity assessment by a notified body in the European Union (the “EU”), as well as comparable foreign regulatory authorities’ reviews or approvals in other countries or regions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 14, 2025, the Company effectuated a <span id="xdx_901_eus-gaap--StockholdersEquityReverseStockSplit_c20250714__20250714_z1Gz5F2NAKc1" title="Reverse stock split">one-for-twenty (1:20) reverse stock split</span> (the “2025 Reverse Stock Split”). The Company’s common stock began trading on the Nasdaq Stock Market on a split-adjusted basis on July 14, 2025. There was no change to the number of authorized shares of the Company’s common stock or the par value per share of common stock. Any fraction of a share of common stock created as a result of the 2025 Reverse Stock Split was rounded up to the nearest whole share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All share and per share information in these accompanying consolidated financial statements have been retroactively adjusted to reflect the 2025 Reverse Stock Split for all periods presented. In addition, (i) a proportionate adjustment has been made to the per share exercise price and the number of shares issuable upon the exercise of all outstanding stock options and warrants to purchase shares of common stock, and (ii) the number of shares reserved for issuance pursuant to the 2013 Beyond Air Equity Incentive Plan has been reduced proportionately.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.80 0.8475 one-for-twenty (1:20) reverse stock split <p id="xdx_806_eus-gaap--SignificantAccountingPoliciesTextBlock_zAeRh970iBXj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 <span id="xdx_826_zeupzJcGwgk6">SIGNIFICANT ACCOUNTING POLICIES AND OTHER RISKS AND UNCERTAINTIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zePT0szFLvt3" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_863_zaK8ogn2fPr">Basis of Presentation and Principles of Consolidation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These consolidated financial statements include the accounts of Beyond Air, Inc. and its subsidiaries and have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The Company determined that Beyond Cancer Ltd. and its affiliates (“Beyond Cancer”) and NeuroNOS Ltd. and its affiliates (“NeuroNos”) are each a variable interest entity (“VIE”) for which the Company is the primary beneficiary and consolidates in its financial statements. All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_eus-gaap--UseOfEstimates_zyP03rkfswnj" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_865_zrfYmDguqYR8">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could significantly differ from those estimates. On an ongoing basis, the Company evaluates its significant estimates and assumptions including expense recognition and accrual assumptions under consulting and clinical trial agreements, stock-based compensation, allowance for credit losses, excess and obsolete inventory reserves, impairment assessments, accounting for licensed rights to use technologies and other long-lived assets, the valuation of warrants, the valuation of derivatives, contingency recognition and accruals and the determination of valuation allowance requirements on deferred tax attributes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_ecustom--GoingConcernLiquidityAndOtherUncertaintiesPolicyTextBlock_zyfgdhMi85s8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_867_zqY2Bjw1vIe6">Going Concern, Liquidity and Other Uncertainties</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company used cash in operating activities of $<span id="xdx_901_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn5n6_di_c20250401__20260331_z3ZU6LUFtdn3" title="Net cash used in operating activities">18.1</span> million for the year ended March 31, 2026, and has an accumulated deficit attributable to the stockholders of Beyond Air, Inc. of $<span id="xdx_902_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn5n6_di_c20260331_zSPwmvk8ZqKe" title="Accumulated deficit">319.6</span> million. The Company had cash, cash equivalents and marketable securities of $<span id="xdx_902_ecustom--CashAndCashEquivalentsAndMarketableSecurities_iI_pn5n6_c20260331_zw8mJaARiHIj" title="Cash equivalents and marketable securities">11.6</span> million as of March 31, 2026. In addition, $<span id="xdx_905_eus-gaap--DepositAssets_iI_pn5n6_c20260331_zZ5ML2x09EY3" title="Cash deposit">3.4</span> million of cash is held on deposit by the Company’s contract manufacturer to be applied against future purchases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company expects to incur net losses and have significant cash outflows for at least the next year, including making significant investments in research and development. Management believes these factors raise substantial doubt about the Company’s ability to meet its obligations with cash on hand and concluded that the Company will require additional funding within one year from the date these consolidated financial statements are issued.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management is confident that the efforts to arrange financing, while not assured, will enable the Company to meet its obligations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s future capital needs and the adequacy of its available funds will depend on many factors, including, but not necessarily limited to, the success and costs of commercialization of the Company’s approved product and the actual cost and time necessary for current and anticipated preclinical studies, clinical trials and other actions needed to obtain certification or regulatory approval of the Company’s product candidates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_ecustom--OtherRisksAndUncertaintiesPolicyTextBlock_zmSOMpTsR0dg" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_z9BkdE6WELm2">Other Risks and Uncertainties</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is subject to risks common to development and early-stage medical device companies including, but not limited to, new technological innovations, certifications or regulatory approval, dependence on key personnel, protection of proprietary technology, compliance with government regulations, product liability, uncertainty of market acceptance of approved products and the potential need to obtain additional financing. The Company is also dependent on third-party suppliers and, in some cases, single-source suppliers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s products require approval or clearance from the FDA prior to commencement of commercial sales in the United States. There can be no assurance that the Company’s products beyond LungFit® PH in the U.S. will receive the required approvals or clearances. Certifications, approvals or clearances are also required in foreign jurisdictions in which the Company may license or sell its products. If the Company is denied such certifications or approvals or clearances or such certifications, approvals or clearances are delayed, such denial or delay may have a material adverse impact on the Company’s results of operations, financial position and liquidity. Further, there can be no assurance that the Company’s product will be accepted in the marketplace, nor can there be any assurance that any future products can be developed or manufactured at an acceptable cost and with appropriate performance characteristics, or that such products will be successfully marketed, if at all.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER RISKS AND UNCERTAINTIES (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84F_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zVF0qxX5X7Ag" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_862_zlJminLqUXwk">Revenue Recognition</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company generates revenue from the leases of its LungFit® PH devices to its customers under fixed fee arrangements over periods of up to three years. The fixed fee is typically broken down into ratable monthly payments over the term of the arrangement. The Company’s customers include hospitals and medical facilities. The Company’s LungFit® PH leases include filters, calibration gas, bagging kits, cables, adapters, and other components and accessories required to use the LungFit® PH device (the “Consumables”). The consumables’ quantities are varied and may be supplied upon demand of the customers and are unlimited, or the arrangement may provide for the maximum quantities available to the customer over the term of the arrangement. The Company’s LungFit® PH leases also include maintenance and training required to use the LungFit® PH device, as well as device back-up services (the “Services”), which are recorded in cost of revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for its rental arrangements of LungFit® PH devices in accordance with Accounting Standards Codification 842, <i>Leases</i> (“ASC 842”). Under ASC 842, leases may be classified as either financing, sales-type, or operating, and the Company is required to disclose key information about leasing arrangements. The classification determines the pattern of revenue recognition and classification within the consolidated statements of operations and comprehensive loss. The Company typically classifies the rental arrangement of its LungFit® PH contracts as operating leases. The Company’s leases do not contain any restrictive covenants or any material residual value guarantees. The Company’s equipment leases may contain renewal options which range from one month to two years. The lease term is adjusted for renewal or termination options that the Company believes the customer is reasonably certain to exercise.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company elected the practical expedient applied to operating leases not to separate lease and non-lease components as long as the lease and non-lease components have the same timing and pattern of transfer. As such, the non-lease components, including the Consumables and Services, are combined with the predominant lease component. The total fixed fees that the Company is reasonably certain to collect are recognized on a straight line basis over the term of the arrangement. Additionally, the Company made an accounting policy election to present LungFit® PH revenue net of sales and other similar taxes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At the lease commencement date, the Company will defer initial direct costs, including commission expense and the cost is recognized over the lease term on the same basis as lease income.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See Note 15 to the consolidated financial statements for more information regarding leasing arrangements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company also generates revenue from the sale of its LungFit® PH devices and consumables to its customers under distribution arrangements. Contracts include one performance obligation as any individual promised good or services other than delivery of the devices and consumables are generally either not capable of being distinct or not distinct within the context of the contracts. Purchased quantities of devices and consumables are varied and may be supplied upon demand of the customers. Revenue is recognized at a point in time when the Company delivers the goods to its customer. The transaction includes a fixed component based on contractual rates. Revenue recognized reflects the consideration the Company expects to receive in exchange for delivering the goods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amounts billed in advance of performance obligations being satisfied are recognized as deferred revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company records the costs of shipping devices and consumables in cost of revenues in its consolidated statements of operations and comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zJRcS9cpNhq3" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_861_zpAyVX7HJsB8">Accounts Receivable</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company extends credit to its customers on an unsecured basis. Accounts receivable are recorded at the invoiced amount, based on agreed contract terms, less an allowance for credit losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company establishes an allowance for accounts receivable that are considered to be at increased risk of becoming uncollectible. When evaluating the adequacy of this allowance for credit losses, the Company considers factors such as, historical collection experience and creditworthiness, the composition of outstanding receivables by customer class, and expected economic conditions and other trends. The Company’s estimates are reflected in the period they are made. The charges recorded for credit losses are reported within Selling, general and administrative expenses on the consolidated statements of operations and comprehensive loss. Receivables are written off against the allowance for credit losses when it is definitively determined that amounts are uncollectible. As of March 31, 2026 and 2025, the allowance for credit losses were $<span id="xdx_906_eus-gaap--AllowanceForDoubtfulAccountsReceivableNoncurrent_iI_pn5n6_c20260331_zYeSgdAczWwa" title="Allowance for credit losses">0.1</span> million and $<span id="xdx_90F_eus-gaap--AllowanceForDoubtfulAccountsReceivableNoncurrent_iI_pn5n6_c20250331_z7SLja1nsgK6" title="Allowance for credit losses">0</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER RISKS AND UNCERTAINTIES (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_z5m4LoVsv315" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86C_zbf3gxuIpLl5">Fair Value Measurements</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC 820, <i>Fair Value Measurements and Disclosures</i> (“ASC 820”), defines fair value as the price that would be received to sell an asset, or paid to transfer a liability, in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. The fair value standard also establishes a three-level hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. The three levels are defined as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1—inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2—inputs to the valuation methodology include quoted prices for a similar asset or liability in an active market or model-derived valuations in which all significant inputs are observable for substantially the full term of the asset or liability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3—inputs to the valuation methodology are unobservable and significant to the fair value measurement of the asset or liability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026 and March 31, 2025, the Company’s financial instruments included restricted cash, marketable securities, accounts payable, long-term debt and liability classified warrants. The carrying amounts reported in the accompanying consolidated financial statements for cash and cash equivalents, restricted cash and marketable securities approximate their respective fair values because of the short-term nature of these accounts. The carrying value of the Company’s long-term debt approximates fair value based on current interest rates for similar types of borrowings. The liability classified warrants are recorded at fair value and are included in Level 3 of the fair value hierarchy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zSz2dHLbWKHc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value amounts as of March 31, 2026 are:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B0_zXpIL3M7zN37" style="display: none">SCHEDULE OF FAIR VALUE ON A RECURRING BASIS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260331_z0foNQr9g2b6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z38n6cDnwlu8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z00wG26yyZg3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zsZd0BuskkP8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketable securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__custom--MutualFundsMember_ze7sjfLFgEgg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 40%; text-align: left; padding-bottom: 1pt">Mutual funds</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">4,901</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">4,901</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0729">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0730">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_zjHwT9v6ZS32" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets measured and recorded at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,901</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,901</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0734">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0735">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zRC5TAbEqGGb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Warrant liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0738">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0739">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_z468H5pC9PIe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities measured and recorded at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0743">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0744">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value amounts as of March 31, 2025 are:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250331_z3Jt5bx4bnYc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zjwMihH6oIy5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zQyMh8LZAtai" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zWF9wGvB3aei" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketable securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__custom--MutualFundsMember_zQgGzALhxHx" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 40%; text-align: left; padding-bottom: 1pt">Mutual funds</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">2,252</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">2,252</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0749">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0750">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_zKl8QiSE9w77" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets measured and recorded at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,252</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,252</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0754">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0755">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_z7teyQQZeWch" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Warrant liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">38</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0758">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0759">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">38</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_zIpton2TLu3e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities measured and recorded at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">38</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0763">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0764">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">38</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zXsqfKoRIw8f" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--MarketableSecuritiesTextBlock_z4HgtsibLNA6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s short-term marketable securities with unrealized gains and losses as of March 31, 2026, aggregated by major security type:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zCu1EyrKbD71" style="display: none">SUMMARY OF SHORT-TERM MARKETABLE SECURITIES WITH UNREALIZED GAINS AND LOSSES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unrealized Gains</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: left; padding-bottom: 1pt">Mutual funds</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--MarketableSecuritiesCurrent_iI_pn3n3_c20260331__us-gaap--FinancialInstrumentAxis__us-gaap--MutualFundMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_z5wtCioRRxGi" style="border-bottom: Black 1pt solid; width: 16%; text-align: right" title="Total short-term marketable securities, fair value">4,901</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_pn3n3_c20250401__20260331__us-gaap--FinancialInstrumentAxis__us-gaap--MutualFundMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zB1niEE5K80j" style="border-bottom: Black 1pt solid; width: 16%; text-align: right" title="Total short-term marketable securities, unrealized loss">39</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total short-term marketable securities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_982_eus-gaap--MarketableSecuritiesCurrent_iI_pn3n3_c20260331__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zu1R3CSkgizd" style="border-bottom: Black 1pt solid; text-align: right" title="Total short-term marketable securities, Fair value">4,901</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_986_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_pn3n3_c20250401__20260331__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zSGHtLg4kMfj" style="border-bottom: Black 1pt solid; text-align: right" title="Total short-term marketable securities, Unrealized gains and (losses)">39</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s short-term marketable securities with unrealized gains and losses as of March 31, 2025, aggregated by major security type:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: justify">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unrealized Gains</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: justify; padding-bottom: 1pt">Mutual funds</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--MarketableSecuritiesCurrent_iI_pn3n3_c20250331__us-gaap--FinancialInstrumentAxis__us-gaap--MutualFundMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zQg58g0FROi4" style="border-bottom: Black 1pt solid; width: 16%; text-align: right" title="Total short-term marketable securities, fair value">2,252</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_pn3n3_c20240401__20250331__us-gaap--FinancialInstrumentAxis__us-gaap--MutualFundMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zWNdUiwZjpf7" style="border-bottom: Black 1pt solid; width: 16%; text-align: right" title="Total short-term marketable securities, unrealized loss">39</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total short-term marketable securities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_984_eus-gaap--MarketableSecuritiesCurrent_iI_pn3n3_c20250331__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zpU8N2T4NHZ1" style="border-bottom: Black 1pt solid; text-align: right" title="Total short-term marketable securities, Fair value">2,252</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_pn3n3_c20240401__20250331__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zr2SOMcBc0If" style="border-bottom: Black 1pt solid; text-align: right" title="Total short-term marketable securities, Unrealized gains and (losses)">39</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8AD_zgvFuIOypEj2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER RISKS AND UNCERTAINTIES (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Level 3 Valuation</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Warrant liability</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The warrant liability is remeasured each reporting period with the change in fair value recorded to other income (expense) in the consolidated statements of operations and comprehensive loss until the warrants are exercised, expired, reclassified or otherwise settled.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_891_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zHT5mdEx3482" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The significant assumptions used in valuing the warrants were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zMM5k5MZuJid" style="display: none">SCHEDULE OF ASSUMPTIONS USED IN VALUING WARRANTS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">At March 31, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Expected term (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_909_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zgvjyxQ3NFWj" title="Expected term warrants">2.25</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_ziOPdUBHgXR1" title="Warrants and rights outstanding, measurement input">132.1</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_z70biNE9YS8c" title="Warrants and rights outstanding, measurement input">3.8</span></td><td style="text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">At March 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Expected term (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20250331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zyJjQ346E25f" title="Expected term warrants">3.25</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20250331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zeuiYAT9gYHk" title="Warrants and rights outstanding, measurement input">99.0</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20250331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zdcmXtcs2u7b" title="Warrants and rights outstanding, measurement input">3.9</span></td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A5_zG73FmtTGsBh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Derivative liability</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eus-gaap--DerivativeLiabilityMeasurementDifferenceDescription_c20250401__20260331_zzvT3Ss7G3gc" title="Derivative liability description">The derivative liability represents an embedded redemption feature (embedded put option) that meets the criteria to be classified as a derivative and is bifurcated from the Note (see Note 9). On any trading day during which the Registration Statement (Note 4) remains effective and the Note remains outstanding and (i) any trading price of the Company’s common stock is at least 5% greater than the current Nasdaq minimum price as defined under Nasdaq Rule 5635(d) (the “Nasdaq Minimum Price”) or (ii) the total dollar trading volume has reached $750,000.00, Streeterville may elect to purchase shares of common stock up to the Beneficial Ownership Limitation at a purchase price equal to 85% of the Nasdaq Minimum Price, subject to a floor of $0.39 per share. The aggregate purchase price for these shares shall be offset by an equal amount outstanding under the Note.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This feature was concluded to not be clearly and closely related to the host instrument and is required to be measured at fair value at each reporting period. The fair value was determined using the Monte Carlo valuation model. The key inputs of the simulation are the valuation date, the Company’s common stock share price and volatility, the risk-free rate, and the maximum convertible shares eligible to offset the outstanding balance on the Note.</span></p> <p id="xdx_895_ecustom--FairValueMeasurementInputsAndValuationTechniquesOfDerivativeTableTextBlock_zsfFhj7pnTGe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zHcIVEJ0tXp1" style="display: none">SCHEDULE OF KEY INPUTS DERIVATIVE </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">At November 4, 2025 (issuance)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251104_zE3kHp0WJLG6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Derivative</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Maximum convertible shares</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--StockIssuedDuringPeriodSharesConversionOfUnits_pid_c20251104__20251104_zx3BaNOFcG5f" style="width: 16%; text-align: right" title="Maximum convertible shares">1,600,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zh4ViqIooue7" style="vertical-align: bottom; background-color: White"> <td>Share price</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1.86</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_dp_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zsrRCqjWT2u6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125</td><td style="text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_dp_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_z17Mb19aVOfg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.6</td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A1_zboQEfYurVni" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During January 2026, Streeterville elected to purchase <span id="xdx_903_eus-gaap--StockRepurchasedDuringPeriodShares_pn5n6_c20260101__20260131__dei--LegalEntityAxis__custom--StreetervilleCapitalLLCMember_zkC1OrbXBar4" title="Purchase of common stock, shares">1.6</span> million shares of common stock at an average of $<span id="xdx_90D_eus-gaap--SharePrice_iI_c20260131__dei--LegalEntityAxis__custom--StreetervilleCapitalLLCMember_zYhINvXrjrD" title="Share price">0.73</span> per share which offset principal of approximately $<span id="xdx_905_eus-gaap--DebtDefaultLongtermDebtAmount_iI_pn5n6_c20260131__dei--LegalEntityAxis__custom--StreetervilleCapitalLLCMember_zRkMG7rKJgb7" title="Debt amount">1.2</span> million outstanding under the Note (Note 9). The fair value of the issued common stock was approximately $<span id="xdx_90C_eus-gaap--CommonStockValueOutstanding_iI_pn5n6_c20260331_znX2AazFVE9a" title="Fair value of issued common stock">3.3</span> million (Note 4). The Company remeasured the fair value of the derivative liability to $<span id="xdx_902_eus-gaap--CreditRiskDerivativeLiabilitiesAtFairValue_iI_pn5n6_c20260331_ziVcopMq8KCa" title="Fair value of the derivative liability">2.2</span> million immediately prior to the conversion. Accordingly, the embedded derivative was extinguished as of March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_ecustom--ScheduleOfChangeInFairValueOfWarrantsAndDerivativesTableTextBlock_znFmSd1AcC0l" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table presented below is a summary of changes in the fair value of the Company’s Level 3 valuation for the warrants and derivatives for the years ended March 31, 2026 and March 31, 2025 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zjA246EL3fBa" style="display: none">SCHEDULE OF CHANGES IN FAIR VALUE OF WARRANTS AND DERIVATIVES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B1_us-gaap--FinancialInstrumentAxis_us-gaap--WarrantMember_zKomqjJB3SX7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BF_us-gaap--FinancialInstrumentAxis_us-gaap--DerivativeMember_zr6VZOcny8w2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Derivative</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43D_c20240401__20250331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_ztdzelDPDHeh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Balance at March 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">275</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,314</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zCFopjQvCLGg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(237</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,314</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43B_c20250401__20260331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_zWLun7K8xSJh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at March 31, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">38</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0830">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_zCbqV14l7zv" style="vertical-align: bottom; background-color: White"> <td>Issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0832">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">775</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zlVdshaDBc45" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,395</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--FairValueMeasurementExtinguishment_zmcY92DcW479" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Extinguishment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0838">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,170</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_435_c20250401__20260331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_zob4KlfS1AB8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Balance at March 31, 2026</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0842">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_z5XCy7ic64Ia" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER RISKS AND UNCERTAINTIES (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_ecustom--WarrantLiabilityPolicyTextBlock_zD4209tMhPkb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_860_zRWUm4WOeCxf">Warrant Liability</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company classifies warrants as equity for any contracts that (i) require physical settlement or net-share settlement or (ii) gives the Company a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement). The Company classifies warrants as assets or liabilities for any contracts that (i) require net-cash settlement (including a requirement to net-cash settle the contract if an event occurs and if that event is outside the control of the Company) or (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement). Such warrants are subject to remeasurement at each consolidated balance sheet date and any change in fair value is recognized as a component of other income/expense on the consolidated statements of operations and comprehensive loss. The Company will continue to adjust the liability for changes in fair value until the earlier of the exercise or expiration of such warrants. At that time, the portion of the warrant liability related to warrants will be reclassified to additional paid-in capital.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_eus-gaap--DerivativesPolicyTextBlock_zSNkPmULVEX" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86A_zLgVSHtIY1bj">Derivative Liability</span> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC 815, <i>Derivatives and Hedging.</i> For derivative financial instruments that are accounted for as assets or liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the consolidated statements of operations and comprehensive loss. The classification of derivative instruments, including whether such instruments should be recorded as assets or liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the consolidated balance sheets as current or non-current based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zkxOhR4JB6D6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86A_zaLdwLtGklG3">Cash and Cash Equivalents, Short-Term Investments and Restricted Cash</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company considers all highly liquid investments with original maturities of three months or less at the date of purchase and an investment in a U.S. government money market fund to be cash equivalents. The Company maintains its cash and cash equivalents in highly rated financial institutions in Australia, Israel, Ireland and the U.S., the balances of which, at times, may exceed federally insured limits. Marketable securities may include investment in a combination of fixed income bonds, U.S. Treasury securities, and mutual funds that are considered to be highly liquid and easily tradeable. The marketable securities are considered trading securities and are measured at fair value and are accounted for in accordance with ASC 320. The marketable securities are valued using inputs observable in active markets for identical securities and are therefore classified as Level 1 within the Company’s fair value hierarchy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026 and March 31, 2025, restricted cash included approximately $<span id="xdx_904_eus-gaap--RestrictedCash_iI_pn5n6_c20260331_z4rXtZexOB4b" title="Restricted cash">5.6</span> million and $<span id="xdx_90F_eus-gaap--RestrictedCash_iI_pn5n6_c20250331_zhHpnQ2lF6F8" title="Restricted cash">0.2</span> million, respectively. Restricted cash as of March 31, 2026 includes $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_pn5n6_c20251104__20251104_zvX9YlzYQEr2" title="Proceeds from issuance of secured promissory note">5.4</span> million of proceeds from the Company’s secured promissory note issued on November 4, 2025 that is required to be held in a restricted account pursuant to the Note Purchase Agreement. Amounts held in the restricted account become available to the Company as the outstanding principal of the Note is repaid (see Note 9).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--ConcentrationRiskCreditRisk_zE3MMSGbrn05" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_zifwhxa60YWk">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the federal depository insurance coverage of $<span id="xdx_905_eus-gaap--CashFDICInsuredAmount_iI_uUSD_c20260331__srt--StatementGeographicalAxis__country--US_z7gUpbeMZPEg" title="Cash FDIC insured amount">250,000</span> in the United States, A$<span id="xdx_90F_eus-gaap--CashFDICInsuredAmount_iI_uAUD_c20260331__srt--StatementGeographicalAxis__country--AU_zLkdEA4hIpqb" title="Cash FDIC insured amount">250,000</span> in Australia, $<span id="xdx_906_eus-gaap--CashFDICInsuredAmount_iI_uUSD_c20260331__srt--StatementGeographicalAxis__country--BM_z8jflRkUGJZe" title="Cash FDIC insured amount">25,000</span> in Bermuda, €<span id="xdx_906_eus-gaap--CashFDICInsuredAmount_iI_uEUR_c20260331__srt--StatementGeographicalAxis__country--IE_zvzsqbKTFD9a" title="Cash FDIC insured amount">100,000</span> in Ireland and €<span id="xdx_900_eus-gaap--CashFDICInsuredAmount_iI_uEUR_c20260331__srt--StatementGeographicalAxis__country--CY_zhbZ2tY5spQa" title="Cash FDIC insured amount">100,000</span> in Cyprus. There is currently no official federal depository insurance in Israel. The Company has not experienced losses on these accounts, and management believes the Company is not exposed to significant risks on such accounts. <span id="xdx_906_eus-gaap--ConcentrationRiskBenchmarkDescription_c20260331__20260331_zwBsDcqjI1ci" title="Concentration risk benchmark description">As of March 31, 2026, the Company had greater than $250,000 at United States financial institutions, less than A$250,000 at Australian financial institutions, greater than €100,000 at Irish financial institutions and also has funds on deposit in Israel.</span> Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations and cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_eus-gaap--ScheduleOfCashCashEquivalentsAndShortTermInvestmentsTableTextBlock_zO39TGqE6eHg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table is the reconciliation of the presentation and disclosure of cash, cash equivalents, marketable securities by major security type and restricted cash as shown on the Company’s consolidated statements of cash flows for:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_z0jfOmMC4Fy7" style="display: none">SCHEDULE OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260331_zKbwo92hRnU4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250331_zIIVYqgiz4Xl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_maCCEASz3pW_maRCACEzZrO_zQj3UHc54oZf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,740</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,665</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RestrictedCashCurrent_iI_pn3n3_maRCACEzZrO_zFxqdPDYOz83" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,622</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">231</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--RestrictedCashAndCashEquivalents_iTI_pn3n3_mtRCACEzZrO_maCCEASziVz_zCa0NYeQZvO8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total cash, cash equivalents and restricted cash</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">12,362</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,896</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--MarketableSecuritiesAbstract_iB_zy0yiyUF65n9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Marketable securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--MarketableSecuritiesCurrent_i01I_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--MutualFundMember_z213JS7INxXc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Mutual funds</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,901</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,252</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--MarketableSecuritiesCurrent_i01I_pn3n3_maCCEASziVz_zJBHKOVrL1Ok" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total marketable securities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">4,901</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,252</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--CashCashEquivalentsAndShortTermInvestments_iTI_pn3n3_mtCCEASziVz_zHJeioG91Fig" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total cash, cash equivalents, marketable securities and restricted cash</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">17,263</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,148</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zPNalkSO2Hci" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER RISKS AND UNCERTAINTIES (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zeVEjAVtjFMl" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_862_zgbsc8xF2Yja">Fixed Assets</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_ecustom--ScheduleOfPropertyAndEquipmentUsefulLifeOfAssetsTableTextBlock_zpfWmIi8fGMe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment are stated at cost less accumulated depreciation and accumulated amortization. Depreciation and amortization are calculated using the straight-line method over the estimated useful life of the assets as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_zziOzbX9ZBq2" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE OF ASSETS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Computer equipment </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zGOdAUEMpnMl" title="Estimated useful life of assets">Three years</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furniture and fixtures </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z0YAIfctOaLa" title="Estimated useful life of assets">Five years</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Clinical and medical equipment </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Three<span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ClinicalAndMedicalEquipmentMember__srt--RangeAxis__srt--MinimumMember_zeg8FPWttisb" style="display: none" title="Estimated useful life of assets">3</span>/<span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ClinicalAndMedicalEquipmentMember__srt--RangeAxis__srt--MaximumMember_zL0oHTEqzoq9" title="Estimated useful life of assets">Five years</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equipment deployable as part of a service offering</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentDeployableAsPartOfServiceOfferingMember_zbKoyiHEMEGc" title="Estimated useful life of assets">Five years</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leasehold improvements </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zIOJZqQidfNf" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23UsefulLifeTermOfLeaseMember"><span style="-sec-ix-hidden: xdx2ixbrl0906">Shorter of term of lease or estimated useful life of the asset</span></span></span></td></tr> </table> <p id="xdx_8A0_zcPMD6dQyzx5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zWhSe7IFIEI8" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_860_zw5wt5bfBJHc">Segment Reporting</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating segments are defined as components of an entity for which both discrete financial information is available and regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The CODM is the Company’s Chief Executive Officer. The Company’s CODM evaluates performance and allocates resources for all of the Company’s reportable segments based on income/loss from operations. The CODM is involved in determining and reviewing projected income/loss from operations as part of the annual budget process. Throughout the year, the CODM considers forecast to actual results and variances to allocate resources. The CODM also considers this information in strategic decisions related to capital allocations, including investments in assets, research and development activities, and human capital.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s reportable segments at March 31, 2026 included <span id="xdx_905_ecustom--NumberOfReportableSegmentsDisclosedByDefinitionFlag_dbT_c20250401__20260331_zg48RG5VSya9" title="Number of repotable segments">Beyond Air, Beyond Cancer, and NeuroNos</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Beyond Air segment includes unallocated corporate expenses associated with the public company fees as well as all corporate related assets and liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_eus-gaap--InventoryPolicyTextBlock_zUPk5S2yRd52" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_zQVSCnoOtmF">Inventories</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories consist primarily of purchased filters, bagging kits, cables, adapters, and other components and accessories required to use the LungFit® PH device held for sale to customers. Inventories are recorded at the lower of cost or net realizable value. Cost comprises direct materials, third-party manufacturing costs and shipping costs incurred to deliver goods to the Company’s central warehouse location. Costs are assigned to individual items of inventory on the basis of weighted average costs. Inventory items are tracked by batch/lot number for specific identification whenever possible.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventory reserves are established for estimated excess and obsolete inventory equal to the difference between the cost of the inventory and the estimated net realizable value of the inventory based on historical usage, known trends, and market conditions and judgment about the anticipated future consumption and the Company’s ability to sell the inventory. At March 31, 2026 and March 31, 2025, excess and obsolescence reserves were $<span id="xdx_901_eus-gaap--InventoryValuationReserves_iI_pn5n6_c20260331_ztjhcafgaG3f" title="Obsolescence reserves">0.4</span> million and $<span id="xdx_908_eus-gaap--InventoryValuationReserves_iI_pn5n6_c20250331_zH80QGz5OvLl" title="Obsolescence reserves">0.2</span> million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--LesseeLeasesPolicyTextBlock_zTwdbBYwhUzf" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_864_zVQil3J6jCZ1">Leases</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating lease assets are included within operating lease right-of-use assets, and the corresponding operating lease obligation on the consolidated balance sheets in accordance with ASC 842, <i>Leases</i>. The Company has elected not to present short-term leases as these leases have a lease term of 12 months or less at lease inception and do not contain purchase options or renewal terms that the Company is reasonably certain to exercise. All other lease assets and lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Operating lease expense is recognized on a straight-line basis over the lease term and is included in general and administrative and research development expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The interest rate implicit in the Company’s leases is typically not readily determinable. As a result, the Company utilizes its incremental borrowing rate in determining the present value of lease payments, which reflects the fixed rate at which the Company could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER RISKS AND UNCERTAINTIES (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--ResearchAndDevelopmentExpensePolicy_zBYK3lPY60Yh" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86B_z5irVTKx8dx6">Research and Development</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Research and development expenses are charged to the consolidated statements of operations and comprehensive loss as incurred. Research and development expenses include salaries, benefits, stock-based compensation and costs incurred by outside laboratories, manufacturers, clinical research organizations, consultants, and accredited facilities in connection with preclinical studies and clinical trials. Research and development expenses are partially offset by the benefit of tax incentive payments for qualified research and development expenditures from the Australian tax authority (“AU Tax Rebates”). The Company does not record AU Tax Rebates until payment is received due to the uncertainty of receipt. For the years ended March 31, 2026 and March 31, 2025, the Company received $<span id="xdx_903_ecustom--TaxRebate_pn5n6_c20250401__20260331__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--AustralianTaxationOfficeMember_zRpYbVFqB6W2" title="Tax Rebate">0.1</span> million and $<span id="xdx_903_ecustom--TaxRebate_pn5n6_c20240401__20250331__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--AustralianTaxationOfficeMember_zmlzooNdSbHh" title="Tax Rebate">0.0</span> million, respectively, in AU Tax Rebates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zWyTcYHOwBAl" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_zee0Dj2iQdC3">Foreign Exchange Transactions</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s subsidiaries transact in U.S. dollars, Euros, New Israeli Shekels and Australian dollars. The Company’s main operations are in the United States and the U.S. dollar is the currency of the primary economic environment in which the Company operates and expects to continue to operate in the foreseeable future. The Company translated its non-U.S. operations’ assets and liabilities denominated in foreign currencies into U.S. dollars at current rates of exchange as of the balance sheet date and income and expense items at the average exchange rate for the reporting period. Gains or losses from foreign currency transactions are included in other income (expense) in the consolidated statements of operations and comprehensive loss as foreign currency exchange gain/(loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In consolidating international subsidiaries, balance sheet currency effects are recorded as a component of accumulated other comprehensive income and loss. The accumulated other comprehensive income and loss account includes the cumulative results of translating certain balance sheet assets and liabilities at current exchange rates and some accounts at historical rates. For the year ended March 31, 2026, the Company recorded gains of $<span id="xdx_90B_eus-gaap--AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_iI_pn5n6_c20260331_z7YLqXHZMmJ7" title="Accumulated other comprehensive income">0.2</span> million in accumulated other comprehensive income. For the year ended March 31, 2025, the Company recorded losses of $<span id="xdx_90F_eus-gaap--AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_iI_pn5n6_c20250331_z4Km4oWtws39" title="Accumulated other comprehensive income">0.1</span> million in accumulated other comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_840_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zoq7zmHFHfej" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86B_zCmkfEn80O85">Stock-Based Compensation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company measures the cost of employee and non-employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. Fair value for restricted stock unit awards is valued using the closing price of the Company’s common stock on the date of grant. The grant date fair value is recognized over the requisite service period during which an employee and non-employee is required to provide service in exchange for the award, using the accelerated method with each tranche being expensed over its vesting period. The grant date fair value of employee and non-employee share options is estimated using the Black-Scholes option pricing model. The risk-free interest rate assumptions were based upon the observed interest rates appropriate for the expected term of the equity instruments. The expected dividend yield was assumed to be zero as the Company has not paid any dividends since its inception and does not anticipate paying dividends in the foreseeable future. The Company accounts for forfeitures as they occur. Starting in 2023, Beyond Air used its own historical volatility as an input for expected volatility, but due to Beyond Cancer’s and NeuroNos’ lack of marketability, the Company utilizes the implied volatility based on an aggregate of guideline companies for expected volatility. The Company uses the simplified method to estimate the expected term.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_ecustom--SupplierConcentrationPolicyTextBlock_zKF0PPuy2u2h" style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_znqew8oyzWYi">Supplier Concentration</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company relies on third-party suppliers to provide materials for its devices and consumables.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the year ended March 31, 2026, the Company purchased approximately <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FirstThirdPartyVendorsMember_zWOjQrfo8Lg9" title="Concentration percentage">74</span>% and <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SecondThirdPartyVendorsMember_zPKH5GFKgKkk" title="Concentration percentage">18</span>% of its materials from two third-party vendors. In the year ended March 31, 2025, the Company purchased approximately <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThirdPartyVendorsMember_zzzCD2frilml" title="Concentration percentage">85</span>% of its materials from one third-party vendor.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_ecustom--CustomerrConcentrationPolicyTextBlock_zt0y7eVOQCR8" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_zZK72rqbNr5k">Customer Concentration</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the year ended March 31, 2026, the Company derived <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomersOneMember_zYh7HM53rlHa" title="Concentration percentage">11</span>% and <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomersTwoMember_zqCNA4uF7rjc" title="Concentration percentage">10</span>% of its revenues from two customers. For the year ended March 31, 2025, the Company derived <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomersOneMember_z8mTZnZnEwR7" title="Concentration percentage">16</span>% and <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomersTwoMember_zjovfV2GnvV8" title="Concentration percentage">10</span>% of its revenues from two customers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--GoodwillAndIntangibleAssetsPolicyTextBlock_zYiYbUZ0aaWj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_zBR8SZsHLuE4">Licensed Right to Use Technology</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Licensed right to use technology that is considered platform technology with alternative future uses is recorded as an intangible asset and is amortized on a straight-line method over its estimated useful life, determined to be thirteen years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zPqdqDxadk6d" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The expected amortization expense for the next five years and thereafter is as follows for the year ended March 31 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B8_zfGTZeVvBHb1" style="display: none">SCHEDULE OF FUTURE EXPECTED AMORTIZATION EXPENSE</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_490_20260331_zTDHWIObOgA5" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_pn3n3_maFLIANz72H_ztGt05u0vLWc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%; text-align: left">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">205</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_pn3n3_maFLIANz72H_zdQScyCDpJTa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">205</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_pn3n3_maFLIANz72H_zdimKZ1UaNT8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">205</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_pn3n3_maFLIANz72H_zoImxPVfM5fi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">205</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_pn3n3_maFLIANz72H_zoRKAth2Mncg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2031</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">198</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANz72H_ziR28fJCHfik" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,018</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_z0prWWE0AGMe" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zWfi9ADUtDcc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_860_z8VqivzDPyKg">Long-Lived Assets</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company assesses the impairment of long-lived assets on an ongoing basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors that the Company considers as potential triggers of an impairment review include the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">significant underperformance relative to expected historical or projected future operating results,</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">significant changes in the manner of the Company’s use of the acquired assets or the strategy for its overall business,</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">significant negative regulatory or economic trends, and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">significant technological changes, which would render the platform technology, equipment, and manufacturing processes obsolete. </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recoverability of assets that will continue to be used in the Company’s operations is measured by comparing the carrying value to the future net undiscounted cash flows expected to be generated by the asset or asset group. Future undiscounted cash flows include estimates of future revenues, driven by market growth rates, and estimates of future costs. There were no events during the reporting periods that were deemed to be a triggering event that would require an impairment assessment, other than the impairment of $<span id="xdx_900_eus-gaap--OtherAssetImpairmentCharges_pn5n6_c20240401__20250331_zfqvadaSCqaj" title="Other asset impairment charges">0.5</span> million recorded during the year ended March 31, 2025 associated with certain R&amp;D assets following Management’s decision to put its VCAP clinical trial on hold.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER RISKS AND UNCERTAINTIES (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84F_eus-gaap--IncomeTaxPolicyTextBlock_z1EpRTJlMHf1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_z6dWFnrUzn86">Income Taxes</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for income taxes using the asset and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in the tax rate is recognized in income or expense in the period that the change is effective. Tax benefits are recognized when it is probable that the deduction will be sustained. A valuation allowance is established when it is more likely than not that all or a portion of a deferred tax asset will either expire before the Company is able to realize the benefit, or that future deductibility is uncertain. As of March 31, 2026 and March 31, 2025, the Company recorded a valuation allowance to the full extent of the Company’s net deferred tax assets since the likelihood of realization of the benefit does not meet the more-likely-than-not threshold.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s reserves related to taxes are based on a determination of whether and how much of a tax benefit taken by the Company in its tax filings or positions is more likely than not to be realized following resolution of any potential contingencies present related to the tax benefit. The Company would recognize both estimated accrued interest and penalties related to unrecognized benefits within income tax expense in the consolidated statements of operations and comprehensive loss. The Company’s uncertain tax positions are related to years that remain subject to examination by relevant tax authorities. Since the Company is in a loss carryforward position, the Company is generally subject to examination by the U.S. federal, state and local income tax authorities for all tax years in which a loss carryforward is available.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_eus-gaap--EarningsPerSharePolicyTextBlock_zUjUHEdFaDd8" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_862_zboUTYq1V7Xd">Net Loss Per Share</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic and diluted net loss per share attributable to common stockholders is computed by dividing the net loss attributable to Beyond Air, Inc., by the weighted average number of shares of common stock outstanding for the period. The dilutive effect of outstanding options, warrants, restricted stock and other stock-based compensation awards is reflected in diluted net loss per share by application of the treasury stock method. The calculation of diluted net loss attributed to common stockholders per share excludes all anti-dilutive shares of common stock. For periods in which the Company has reported net losses, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders, because such shares of common stock are not assumed to have been issued if their effect is anti-dilutive (Note 8).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--ConsolidationVariableInterestEntityPolicy_zXmJuTlw0mS" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_868_zvtldgtakaPf">Variable Interest Entity</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As the Company has the power to direct activities of both Beyond Cancer and NeuroNos that most significantly impact their economic performance and the right to receive benefits and losses that may potentially be significant, these financial statements are fully consolidated with those of the Company. The non-controlling owners’ <span id="xdx_909_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20260331__srt--OwnershipAxis__custom--BeyondCancerLtdMember_zVO1dsDjeZKb" title="Non-controlling owners interest">20</span>% interest in Beyond Cancer’s net assets and result of operations and the non-controlling owners’ <span id="xdx_909_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20260331__srt--OwnershipAxis__custom--NeuroNosLtdMember_zGruHsD1j4A8" title="Non-controlling owners interest">15.25</span>% interest in NeuroNos’ net assets and result of operations are reported as “non-controlling interest” on the Company’s consolidated balance sheets and as “net loss attributable to non-controlling interest” in the Company’s consolidated statements of operations and comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_840_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_z2e5hTyHtoI" style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_868_z3xqho5VK4fa">Recently Adopted Accounting Standards</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, <i>Improvements to Tax Disclosures (Topic 740), </i>to enhance the disclosures related to income taxes, including the rate reconciliation and information on income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024 (fiscal 2026 for the Company), with early adoption permitted. The Company adopted this standard effective April 1, 2025 prospectively. See Note 11, “Income Taxes,” for further information regarding the Company’s effective income tax.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_ecustom--RecentlyIssuedAccountingStandardsNotYetAdoptedPolicyTextBlock_zypEtiThyZ79" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_ztIW2GOFmu92">Recently Issued Accounting Standards Not Yet Adopted</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU 2024-03, <i>Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40).</i> This standard requires disclosure of specific information about costs and expenses and becomes effective for fiscal years beginning after December 15, 2026 (fiscal 2028 for the Company), with early adoption permitted. The Company is assessing the impact of this ASU and, upon adoption, may be required to include certain additional disclosures in the footnotes to the Consolidated Financial Statements.</span></p> <p id="xdx_85A_zRvKbt6JbRYk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zePT0szFLvt3" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_863_zaK8ogn2fPr">Basis of Presentation and Principles of Consolidation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These consolidated financial statements include the accounts of Beyond Air, Inc. and its subsidiaries and have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The Company determined that Beyond Cancer Ltd. and its affiliates (“Beyond Cancer”) and NeuroNOS Ltd. and its affiliates (“NeuroNos”) are each a variable interest entity (“VIE”) for which the Company is the primary beneficiary and consolidates in its financial statements. All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_eus-gaap--UseOfEstimates_zyP03rkfswnj" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_865_zrfYmDguqYR8">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could significantly differ from those estimates. On an ongoing basis, the Company evaluates its significant estimates and assumptions including expense recognition and accrual assumptions under consulting and clinical trial agreements, stock-based compensation, allowance for credit losses, excess and obsolete inventory reserves, impairment assessments, accounting for licensed rights to use technologies and other long-lived assets, the valuation of warrants, the valuation of derivatives, contingency recognition and accruals and the determination of valuation allowance requirements on deferred tax attributes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_ecustom--GoingConcernLiquidityAndOtherUncertaintiesPolicyTextBlock_zyfgdhMi85s8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_867_zqY2Bjw1vIe6">Going Concern, Liquidity and Other Uncertainties</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company used cash in operating activities of $<span id="xdx_901_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pn5n6_di_c20250401__20260331_z3ZU6LUFtdn3" title="Net cash used in operating activities">18.1</span> million for the year ended March 31, 2026, and has an accumulated deficit attributable to the stockholders of Beyond Air, Inc. of $<span id="xdx_902_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn5n6_di_c20260331_zSPwmvk8ZqKe" title="Accumulated deficit">319.6</span> million. The Company had cash, cash equivalents and marketable securities of $<span id="xdx_902_ecustom--CashAndCashEquivalentsAndMarketableSecurities_iI_pn5n6_c20260331_zw8mJaARiHIj" title="Cash equivalents and marketable securities">11.6</span> million as of March 31, 2026. In addition, $<span id="xdx_905_eus-gaap--DepositAssets_iI_pn5n6_c20260331_zZ5ML2x09EY3" title="Cash deposit">3.4</span> million of cash is held on deposit by the Company’s contract manufacturer to be applied against future purchases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company expects to incur net losses and have significant cash outflows for at least the next year, including making significant investments in research and development. Management believes these factors raise substantial doubt about the Company’s ability to meet its obligations with cash on hand and concluded that the Company will require additional funding within one year from the date these consolidated financial statements are issued.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management is confident that the efforts to arrange financing, while not assured, will enable the Company to meet its obligations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s future capital needs and the adequacy of its available funds will depend on many factors, including, but not necessarily limited to, the success and costs of commercialization of the Company’s approved product and the actual cost and time necessary for current and anticipated preclinical studies, clinical trials and other actions needed to obtain certification or regulatory approval of the Company’s product candidates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> -18100000 -319600000 11600000 3400000 <p id="xdx_84C_ecustom--OtherRisksAndUncertaintiesPolicyTextBlock_zmSOMpTsR0dg" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_z9BkdE6WELm2">Other Risks and Uncertainties</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is subject to risks common to development and early-stage medical device companies including, but not limited to, new technological innovations, certifications or regulatory approval, dependence on key personnel, protection of proprietary technology, compliance with government regulations, product liability, uncertainty of market acceptance of approved products and the potential need to obtain additional financing. The Company is also dependent on third-party suppliers and, in some cases, single-source suppliers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s products require approval or clearance from the FDA prior to commencement of commercial sales in the United States. There can be no assurance that the Company’s products beyond LungFit® PH in the U.S. will receive the required approvals or clearances. Certifications, approvals or clearances are also required in foreign jurisdictions in which the Company may license or sell its products. If the Company is denied such certifications or approvals or clearances or such certifications, approvals or clearances are delayed, such denial or delay may have a material adverse impact on the Company’s results of operations, financial position and liquidity. Further, there can be no assurance that the Company’s product will be accepted in the marketplace, nor can there be any assurance that any future products can be developed or manufactured at an acceptable cost and with appropriate performance characteristics, or that such products will be successfully marketed, if at all.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER RISKS AND UNCERTAINTIES (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84F_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zVF0qxX5X7Ag" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_862_zlJminLqUXwk">Revenue Recognition</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company generates revenue from the leases of its LungFit® PH devices to its customers under fixed fee arrangements over periods of up to three years. The fixed fee is typically broken down into ratable monthly payments over the term of the arrangement. The Company’s customers include hospitals and medical facilities. The Company’s LungFit® PH leases include filters, calibration gas, bagging kits, cables, adapters, and other components and accessories required to use the LungFit® PH device (the “Consumables”). The consumables’ quantities are varied and may be supplied upon demand of the customers and are unlimited, or the arrangement may provide for the maximum quantities available to the customer over the term of the arrangement. The Company’s LungFit® PH leases also include maintenance and training required to use the LungFit® PH device, as well as device back-up services (the “Services”), which are recorded in cost of revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for its rental arrangements of LungFit® PH devices in accordance with Accounting Standards Codification 842, <i>Leases</i> (“ASC 842”). Under ASC 842, leases may be classified as either financing, sales-type, or operating, and the Company is required to disclose key information about leasing arrangements. The classification determines the pattern of revenue recognition and classification within the consolidated statements of operations and comprehensive loss. The Company typically classifies the rental arrangement of its LungFit® PH contracts as operating leases. The Company’s leases do not contain any restrictive covenants or any material residual value guarantees. The Company’s equipment leases may contain renewal options which range from one month to two years. The lease term is adjusted for renewal or termination options that the Company believes the customer is reasonably certain to exercise.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company elected the practical expedient applied to operating leases not to separate lease and non-lease components as long as the lease and non-lease components have the same timing and pattern of transfer. As such, the non-lease components, including the Consumables and Services, are combined with the predominant lease component. The total fixed fees that the Company is reasonably certain to collect are recognized on a straight line basis over the term of the arrangement. Additionally, the Company made an accounting policy election to present LungFit® PH revenue net of sales and other similar taxes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At the lease commencement date, the Company will defer initial direct costs, including commission expense and the cost is recognized over the lease term on the same basis as lease income.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">See Note 15 to the consolidated financial statements for more information regarding leasing arrangements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company also generates revenue from the sale of its LungFit® PH devices and consumables to its customers under distribution arrangements. Contracts include one performance obligation as any individual promised good or services other than delivery of the devices and consumables are generally either not capable of being distinct or not distinct within the context of the contracts. Purchased quantities of devices and consumables are varied and may be supplied upon demand of the customers. Revenue is recognized at a point in time when the Company delivers the goods to its customer. The transaction includes a fixed component based on contractual rates. Revenue recognized reflects the consideration the Company expects to receive in exchange for delivering the goods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amounts billed in advance of performance obligations being satisfied are recognized as deferred revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company records the costs of shipping devices and consumables in cost of revenues in its consolidated statements of operations and comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zJRcS9cpNhq3" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_861_zpAyVX7HJsB8">Accounts Receivable</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company extends credit to its customers on an unsecured basis. Accounts receivable are recorded at the invoiced amount, based on agreed contract terms, less an allowance for credit losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company establishes an allowance for accounts receivable that are considered to be at increased risk of becoming uncollectible. When evaluating the adequacy of this allowance for credit losses, the Company considers factors such as, historical collection experience and creditworthiness, the composition of outstanding receivables by customer class, and expected economic conditions and other trends. The Company’s estimates are reflected in the period they are made. The charges recorded for credit losses are reported within Selling, general and administrative expenses on the consolidated statements of operations and comprehensive loss. Receivables are written off against the allowance for credit losses when it is definitively determined that amounts are uncollectible. As of March 31, 2026 and 2025, the allowance for credit losses were $<span id="xdx_906_eus-gaap--AllowanceForDoubtfulAccountsReceivableNoncurrent_iI_pn5n6_c20260331_zYeSgdAczWwa" title="Allowance for credit losses">0.1</span> million and $<span id="xdx_90F_eus-gaap--AllowanceForDoubtfulAccountsReceivableNoncurrent_iI_pn5n6_c20250331_z7SLja1nsgK6" title="Allowance for credit losses">0</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER RISKS AND UNCERTAINTIES (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 100000 0 <p id="xdx_845_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_z5m4LoVsv315" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86C_zbf3gxuIpLl5">Fair Value Measurements</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC 820, <i>Fair Value Measurements and Disclosures</i> (“ASC 820”), defines fair value as the price that would be received to sell an asset, or paid to transfer a liability, in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. The fair value standard also establishes a three-level hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. The three levels are defined as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1—inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2—inputs to the valuation methodology include quoted prices for a similar asset or liability in an active market or model-derived valuations in which all significant inputs are observable for substantially the full term of the asset or liability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3—inputs to the valuation methodology are unobservable and significant to the fair value measurement of the asset or liability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026 and March 31, 2025, the Company’s financial instruments included restricted cash, marketable securities, accounts payable, long-term debt and liability classified warrants. The carrying amounts reported in the accompanying consolidated financial statements for cash and cash equivalents, restricted cash and marketable securities approximate their respective fair values because of the short-term nature of these accounts. The carrying value of the Company’s long-term debt approximates fair value based on current interest rates for similar types of borrowings. The liability classified warrants are recorded at fair value and are included in Level 3 of the fair value hierarchy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zSz2dHLbWKHc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value amounts as of March 31, 2026 are:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B0_zXpIL3M7zN37" style="display: none">SCHEDULE OF FAIR VALUE ON A RECURRING BASIS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260331_z0foNQr9g2b6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z38n6cDnwlu8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z00wG26yyZg3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zsZd0BuskkP8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketable securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__custom--MutualFundsMember_ze7sjfLFgEgg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 40%; text-align: left; padding-bottom: 1pt">Mutual funds</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">4,901</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">4,901</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0729">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0730">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_zjHwT9v6ZS32" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets measured and recorded at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,901</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,901</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0734">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0735">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zRC5TAbEqGGb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Warrant liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0738">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0739">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_z468H5pC9PIe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities measured and recorded at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0743">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0744">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value amounts as of March 31, 2025 are:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250331_z3Jt5bx4bnYc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zjwMihH6oIy5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zQyMh8LZAtai" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zWF9wGvB3aei" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketable securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__custom--MutualFundsMember_zQgGzALhxHx" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 40%; text-align: left; padding-bottom: 1pt">Mutual funds</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">2,252</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">2,252</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0749">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0750">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_zKl8QiSE9w77" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets measured and recorded at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,252</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,252</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0754">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0755">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_z7teyQQZeWch" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Warrant liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">38</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0758">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0759">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">38</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_zIpton2TLu3e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities measured and recorded at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">38</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0763">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0764">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">38</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zXsqfKoRIw8f" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--MarketableSecuritiesTextBlock_z4HgtsibLNA6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s short-term marketable securities with unrealized gains and losses as of March 31, 2026, aggregated by major security type:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zCu1EyrKbD71" style="display: none">SUMMARY OF SHORT-TERM MARKETABLE SECURITIES WITH UNREALIZED GAINS AND LOSSES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unrealized Gains</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: left; padding-bottom: 1pt">Mutual funds</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--MarketableSecuritiesCurrent_iI_pn3n3_c20260331__us-gaap--FinancialInstrumentAxis__us-gaap--MutualFundMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_z5wtCioRRxGi" style="border-bottom: Black 1pt solid; width: 16%; text-align: right" title="Total short-term marketable securities, fair value">4,901</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_pn3n3_c20250401__20260331__us-gaap--FinancialInstrumentAxis__us-gaap--MutualFundMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zB1niEE5K80j" style="border-bottom: Black 1pt solid; width: 16%; text-align: right" title="Total short-term marketable securities, unrealized loss">39</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total short-term marketable securities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_982_eus-gaap--MarketableSecuritiesCurrent_iI_pn3n3_c20260331__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zu1R3CSkgizd" style="border-bottom: Black 1pt solid; text-align: right" title="Total short-term marketable securities, Fair value">4,901</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_986_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_pn3n3_c20250401__20260331__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zSGHtLg4kMfj" style="border-bottom: Black 1pt solid; text-align: right" title="Total short-term marketable securities, Unrealized gains and (losses)">39</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s short-term marketable securities with unrealized gains and losses as of March 31, 2025, aggregated by major security type:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: justify">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unrealized Gains</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: justify; padding-bottom: 1pt">Mutual funds</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--MarketableSecuritiesCurrent_iI_pn3n3_c20250331__us-gaap--FinancialInstrumentAxis__us-gaap--MutualFundMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zQg58g0FROi4" style="border-bottom: Black 1pt solid; width: 16%; text-align: right" title="Total short-term marketable securities, fair value">2,252</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_pn3n3_c20240401__20250331__us-gaap--FinancialInstrumentAxis__us-gaap--MutualFundMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zWNdUiwZjpf7" style="border-bottom: Black 1pt solid; width: 16%; text-align: right" title="Total short-term marketable securities, unrealized loss">39</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total short-term marketable securities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_984_eus-gaap--MarketableSecuritiesCurrent_iI_pn3n3_c20250331__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zpU8N2T4NHZ1" style="border-bottom: Black 1pt solid; text-align: right" title="Total short-term marketable securities, Fair value">2,252</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_pn3n3_c20240401__20250331__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zr2SOMcBc0If" style="border-bottom: Black 1pt solid; text-align: right" title="Total short-term marketable securities, Unrealized gains and (losses)">39</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8AD_zgvFuIOypEj2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER RISKS AND UNCERTAINTIES (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Level 3 Valuation</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Warrant liability</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The warrant liability is remeasured each reporting period with the change in fair value recorded to other income (expense) in the consolidated statements of operations and comprehensive loss until the warrants are exercised, expired, reclassified or otherwise settled.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_891_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zHT5mdEx3482" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The significant assumptions used in valuing the warrants were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zMM5k5MZuJid" style="display: none">SCHEDULE OF ASSUMPTIONS USED IN VALUING WARRANTS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">At March 31, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Expected term (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_909_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zgvjyxQ3NFWj" title="Expected term warrants">2.25</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_ziOPdUBHgXR1" title="Warrants and rights outstanding, measurement input">132.1</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_z70biNE9YS8c" title="Warrants and rights outstanding, measurement input">3.8</span></td><td style="text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">At March 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Expected term (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20250331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zyJjQ346E25f" title="Expected term warrants">3.25</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20250331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zeuiYAT9gYHk" title="Warrants and rights outstanding, measurement input">99.0</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20250331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zdcmXtcs2u7b" title="Warrants and rights outstanding, measurement input">3.9</span></td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A5_zG73FmtTGsBh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Derivative liability</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eus-gaap--DerivativeLiabilityMeasurementDifferenceDescription_c20250401__20260331_zzvT3Ss7G3gc" title="Derivative liability description">The derivative liability represents an embedded redemption feature (embedded put option) that meets the criteria to be classified as a derivative and is bifurcated from the Note (see Note 9). On any trading day during which the Registration Statement (Note 4) remains effective and the Note remains outstanding and (i) any trading price of the Company’s common stock is at least 5% greater than the current Nasdaq minimum price as defined under Nasdaq Rule 5635(d) (the “Nasdaq Minimum Price”) or (ii) the total dollar trading volume has reached $750,000.00, Streeterville may elect to purchase shares of common stock up to the Beneficial Ownership Limitation at a purchase price equal to 85% of the Nasdaq Minimum Price, subject to a floor of $0.39 per share. The aggregate purchase price for these shares shall be offset by an equal amount outstanding under the Note.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This feature was concluded to not be clearly and closely related to the host instrument and is required to be measured at fair value at each reporting period. The fair value was determined using the Monte Carlo valuation model. The key inputs of the simulation are the valuation date, the Company’s common stock share price and volatility, the risk-free rate, and the maximum convertible shares eligible to offset the outstanding balance on the Note.</span></p> <p id="xdx_895_ecustom--FairValueMeasurementInputsAndValuationTechniquesOfDerivativeTableTextBlock_zsfFhj7pnTGe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zHcIVEJ0tXp1" style="display: none">SCHEDULE OF KEY INPUTS DERIVATIVE </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">At November 4, 2025 (issuance)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251104_zE3kHp0WJLG6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Derivative</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Maximum convertible shares</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--StockIssuedDuringPeriodSharesConversionOfUnits_pid_c20251104__20251104_zx3BaNOFcG5f" style="width: 16%; text-align: right" title="Maximum convertible shares">1,600,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zh4ViqIooue7" style="vertical-align: bottom; background-color: White"> <td>Share price</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1.86</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_dp_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zsrRCqjWT2u6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125</td><td style="text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_dp_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_z17Mb19aVOfg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.6</td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A1_zboQEfYurVni" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During January 2026, Streeterville elected to purchase <span id="xdx_903_eus-gaap--StockRepurchasedDuringPeriodShares_pn5n6_c20260101__20260131__dei--LegalEntityAxis__custom--StreetervilleCapitalLLCMember_zkC1OrbXBar4" title="Purchase of common stock, shares">1.6</span> million shares of common stock at an average of $<span id="xdx_90D_eus-gaap--SharePrice_iI_c20260131__dei--LegalEntityAxis__custom--StreetervilleCapitalLLCMember_zYhINvXrjrD" title="Share price">0.73</span> per share which offset principal of approximately $<span id="xdx_905_eus-gaap--DebtDefaultLongtermDebtAmount_iI_pn5n6_c20260131__dei--LegalEntityAxis__custom--StreetervilleCapitalLLCMember_zRkMG7rKJgb7" title="Debt amount">1.2</span> million outstanding under the Note (Note 9). The fair value of the issued common stock was approximately $<span id="xdx_90C_eus-gaap--CommonStockValueOutstanding_iI_pn5n6_c20260331_znX2AazFVE9a" title="Fair value of issued common stock">3.3</span> million (Note 4). The Company remeasured the fair value of the derivative liability to $<span id="xdx_902_eus-gaap--CreditRiskDerivativeLiabilitiesAtFairValue_iI_pn5n6_c20260331_ziVcopMq8KCa" title="Fair value of the derivative liability">2.2</span> million immediately prior to the conversion. Accordingly, the embedded derivative was extinguished as of March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_ecustom--ScheduleOfChangeInFairValueOfWarrantsAndDerivativesTableTextBlock_znFmSd1AcC0l" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table presented below is a summary of changes in the fair value of the Company’s Level 3 valuation for the warrants and derivatives for the years ended March 31, 2026 and March 31, 2025 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zjA246EL3fBa" style="display: none">SCHEDULE OF CHANGES IN FAIR VALUE OF WARRANTS AND DERIVATIVES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B1_us-gaap--FinancialInstrumentAxis_us-gaap--WarrantMember_zKomqjJB3SX7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BF_us-gaap--FinancialInstrumentAxis_us-gaap--DerivativeMember_zr6VZOcny8w2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Derivative</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43D_c20240401__20250331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_ztdzelDPDHeh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Balance at March 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">275</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,314</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zCFopjQvCLGg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(237</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,314</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43B_c20250401__20260331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_zWLun7K8xSJh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at March 31, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">38</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0830">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_zCbqV14l7zv" style="vertical-align: bottom; background-color: White"> <td>Issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0832">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">775</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zlVdshaDBc45" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,395</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--FairValueMeasurementExtinguishment_zmcY92DcW479" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Extinguishment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0838">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,170</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_435_c20250401__20260331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_zob4KlfS1AB8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Balance at March 31, 2026</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0842">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_z5XCy7ic64Ia" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER RISKS AND UNCERTAINTIES (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zSz2dHLbWKHc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value amounts as of March 31, 2026 are:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B0_zXpIL3M7zN37" style="display: none">SCHEDULE OF FAIR VALUE ON A RECURRING BASIS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260331_z0foNQr9g2b6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z38n6cDnwlu8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z00wG26yyZg3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zsZd0BuskkP8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketable securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__custom--MutualFundsMember_ze7sjfLFgEgg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 40%; text-align: left; padding-bottom: 1pt">Mutual funds</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">4,901</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">4,901</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0729">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0730">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_zjHwT9v6ZS32" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets measured and recorded at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,901</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,901</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0734">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0735">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_zRC5TAbEqGGb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Warrant liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0738">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0739">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_z468H5pC9PIe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities measured and recorded at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0743">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0744">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value amounts as of March 31, 2025 are:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250331_z3Jt5bx4bnYc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zjwMihH6oIy5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20250331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zQyMh8LZAtai" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zWF9wGvB3aei" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Marketable securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__custom--MutualFundsMember_zQgGzALhxHx" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 40%; text-align: left; padding-bottom: 1pt">Mutual funds</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">2,252</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">2,252</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0749">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0750">-</span></td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AssetsFairValueDisclosure_iI_pn3n3_zKl8QiSE9w77" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total assets measured and recorded at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,252</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,252</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0754">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0755">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--WarrantMember_z7teyQQZeWch" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Warrant liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">38</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0758">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0759">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">38</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_zIpton2TLu3e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities measured and recorded at fair value</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">38</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0763">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0764">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">38</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 4901000 4901000 4901000 4901000 2000 2000 2000 2000 2252000 2252000 2252000 2252000 38000 38000 38000 38000 <p id="xdx_89F_eus-gaap--MarketableSecuritiesTextBlock_z4HgtsibLNA6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s short-term marketable securities with unrealized gains and losses as of March 31, 2026, aggregated by major security type:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zCu1EyrKbD71" style="display: none">SUMMARY OF SHORT-TERM MARKETABLE SECURITIES WITH UNREALIZED GAINS AND LOSSES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unrealized Gains</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: left; padding-bottom: 1pt">Mutual funds</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--MarketableSecuritiesCurrent_iI_pn3n3_c20260331__us-gaap--FinancialInstrumentAxis__us-gaap--MutualFundMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_z5wtCioRRxGi" style="border-bottom: Black 1pt solid; width: 16%; text-align: right" title="Total short-term marketable securities, fair value">4,901</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_pn3n3_c20250401__20260331__us-gaap--FinancialInstrumentAxis__us-gaap--MutualFundMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zB1niEE5K80j" style="border-bottom: Black 1pt solid; width: 16%; text-align: right" title="Total short-term marketable securities, unrealized loss">39</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total short-term marketable securities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_982_eus-gaap--MarketableSecuritiesCurrent_iI_pn3n3_c20260331__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zu1R3CSkgizd" style="border-bottom: Black 1pt solid; text-align: right" title="Total short-term marketable securities, Fair value">4,901</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_986_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_pn3n3_c20250401__20260331__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zSGHtLg4kMfj" style="border-bottom: Black 1pt solid; text-align: right" title="Total short-term marketable securities, Unrealized gains and (losses)">39</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s short-term marketable securities with unrealized gains and losses as of March 31, 2025, aggregated by major security type:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: justify">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Unrealized Gains</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: justify; padding-bottom: 1pt">Mutual funds</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--MarketableSecuritiesCurrent_iI_pn3n3_c20250331__us-gaap--FinancialInstrumentAxis__us-gaap--MutualFundMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zQg58g0FROi4" style="border-bottom: Black 1pt solid; width: 16%; text-align: right" title="Total short-term marketable securities, fair value">2,252</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_pn3n3_c20240401__20250331__us-gaap--FinancialInstrumentAxis__us-gaap--MutualFundMember__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zWNdUiwZjpf7" style="border-bottom: Black 1pt solid; width: 16%; text-align: right" title="Total short-term marketable securities, unrealized loss">39</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total short-term marketable securities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_984_eus-gaap--MarketableSecuritiesCurrent_iI_pn3n3_c20250331__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zpU8N2T4NHZ1" style="border-bottom: Black 1pt solid; text-align: right" title="Total short-term marketable securities, Fair value">2,252</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_985_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_pn3n3_c20240401__20250331__us-gaap--ExtinguishmentOfDebtAxis__us-gaap--ShortTermDebtMember_zr2SOMcBc0If" style="border-bottom: Black 1pt solid; text-align: right" title="Total short-term marketable securities, Unrealized gains and (losses)">39</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 4901000 39000 4901000 39000 2252000 39000 2252000 39000 <p id="xdx_891_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zHT5mdEx3482" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The significant assumptions used in valuing the warrants were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zMM5k5MZuJid" style="display: none">SCHEDULE OF ASSUMPTIONS USED IN VALUING WARRANTS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">At March 31, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Expected term (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_909_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zgvjyxQ3NFWj" title="Expected term warrants">2.25</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_ziOPdUBHgXR1" title="Warrants and rights outstanding, measurement input">132.1</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_z70biNE9YS8c" title="Warrants and rights outstanding, measurement input">3.8</span></td><td style="text-align: left">%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">At March 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Expected term (in years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20250331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zyJjQ346E25f" title="Expected term warrants">3.25</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20250331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zeuiYAT9gYHk" title="Warrants and rights outstanding, measurement input">99.0</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20250331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zdcmXtcs2u7b" title="Warrants and rights outstanding, measurement input">3.9</span></td><td style="text-align: left">%</td></tr> </table> P2Y3M 132.1 3.8 P3Y3M 99.0 3.9 The derivative liability represents an embedded redemption feature (embedded put option) that meets the criteria to be classified as a derivative and is bifurcated from the Note (see Note 9). On any trading day during which the Registration Statement (Note 4) remains effective and the Note remains outstanding and (i) any trading price of the Company’s common stock is at least 5% greater than the current Nasdaq minimum price as defined under Nasdaq Rule 5635(d) (the “Nasdaq Minimum Price”) or (ii) the total dollar trading volume has reached $750,000.00, Streeterville may elect to purchase shares of common stock up to the Beneficial Ownership Limitation at a purchase price equal to 85% of the Nasdaq Minimum Price, subject to a floor of $0.39 per share. The aggregate purchase price for these shares shall be offset by an equal amount outstanding under the Note. <p id="xdx_895_ecustom--FairValueMeasurementInputsAndValuationTechniquesOfDerivativeTableTextBlock_zsfFhj7pnTGe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zHcIVEJ0tXp1" style="display: none">SCHEDULE OF KEY INPUTS DERIVATIVE </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">At November 4, 2025 (issuance)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251104_zE3kHp0WJLG6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Derivative</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Maximum convertible shares</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--StockIssuedDuringPeriodSharesConversionOfUnits_pid_c20251104__20251104_zx3BaNOFcG5f" style="width: 16%; text-align: right" title="Maximum convertible shares">1,600,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputSharePriceMember_zh4ViqIooue7" style="vertical-align: bottom; background-color: White"> <td>Share price</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1.86</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_dp_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zsrRCqjWT2u6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125</td><td style="text-align: left">%</td></tr> <tr id="xdx_407_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_dp_uPure_hus-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_z17Mb19aVOfg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.6</td><td style="text-align: left">%</td></tr> </table> 1600000 1.86 1.25 0.036 1600000 0.73 1200000 3300000 2200000 <p id="xdx_893_ecustom--ScheduleOfChangeInFairValueOfWarrantsAndDerivativesTableTextBlock_znFmSd1AcC0l" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The table presented below is a summary of changes in the fair value of the Company’s Level 3 valuation for the warrants and derivatives for the years ended March 31, 2026 and March 31, 2025 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zjA246EL3fBa" style="display: none">SCHEDULE OF CHANGES IN FAIR VALUE OF WARRANTS AND DERIVATIVES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B1_us-gaap--FinancialInstrumentAxis_us-gaap--WarrantMember_zKomqjJB3SX7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BF_us-gaap--FinancialInstrumentAxis_us-gaap--DerivativeMember_zr6VZOcny8w2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Derivative</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43D_c20240401__20250331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_ztdzelDPDHeh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Balance at March 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">275</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,314</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zCFopjQvCLGg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(237</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,314</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_43B_c20250401__20260331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_zWLun7K8xSJh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at March 31, 2025</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">38</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0830">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues_zCbqV14l7zv" style="vertical-align: bottom; background-color: White"> <td>Issuance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0832">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">775</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease_zlVdshaDBc45" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Change in fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,395</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--FairValueMeasurementExtinguishment_zmcY92DcW479" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Extinguishment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0838">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,170</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_435_c20250401__20260331_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_zob4KlfS1AB8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Balance at March 31, 2026</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0842">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 275000 1314000 -237000 -1314000 38000 775000 -36000 1395000 -2170000 2000 <p id="xdx_84A_ecustom--WarrantLiabilityPolicyTextBlock_zD4209tMhPkb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_860_zRWUm4WOeCxf">Warrant Liability</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company classifies warrants as equity for any contracts that (i) require physical settlement or net-share settlement or (ii) gives the Company a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement). The Company classifies warrants as assets or liabilities for any contracts that (i) require net-cash settlement (including a requirement to net-cash settle the contract if an event occurs and if that event is outside the control of the Company) or (ii) gives the counterparty a choice of net-cash settlement or settlement in shares (physical settlement or net-share settlement). Such warrants are subject to remeasurement at each consolidated balance sheet date and any change in fair value is recognized as a component of other income/expense on the consolidated statements of operations and comprehensive loss. The Company will continue to adjust the liability for changes in fair value until the earlier of the exercise or expiration of such warrants. At that time, the portion of the warrant liability related to warrants will be reclassified to additional paid-in capital.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_eus-gaap--DerivativesPolicyTextBlock_zSNkPmULVEX" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86A_zLgVSHtIY1bj">Derivative Liability</span> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC 815, <i>Derivatives and Hedging.</i> For derivative financial instruments that are accounted for as assets or liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the consolidated statements of operations and comprehensive loss. The classification of derivative instruments, including whether such instruments should be recorded as assets or liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the consolidated balance sheets as current or non-current based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zkxOhR4JB6D6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86A_zaLdwLtGklG3">Cash and Cash Equivalents, Short-Term Investments and Restricted Cash</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company considers all highly liquid investments with original maturities of three months or less at the date of purchase and an investment in a U.S. government money market fund to be cash equivalents. The Company maintains its cash and cash equivalents in highly rated financial institutions in Australia, Israel, Ireland and the U.S., the balances of which, at times, may exceed federally insured limits. Marketable securities may include investment in a combination of fixed income bonds, U.S. Treasury securities, and mutual funds that are considered to be highly liquid and easily tradeable. The marketable securities are considered trading securities and are measured at fair value and are accounted for in accordance with ASC 320. The marketable securities are valued using inputs observable in active markets for identical securities and are therefore classified as Level 1 within the Company’s fair value hierarchy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026 and March 31, 2025, restricted cash included approximately $<span id="xdx_904_eus-gaap--RestrictedCash_iI_pn5n6_c20260331_z4rXtZexOB4b" title="Restricted cash">5.6</span> million and $<span id="xdx_90F_eus-gaap--RestrictedCash_iI_pn5n6_c20250331_zhHpnQ2lF6F8" title="Restricted cash">0.2</span> million, respectively. Restricted cash as of March 31, 2026 includes $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceOfSecuredDebt_pn5n6_c20251104__20251104_zvX9YlzYQEr2" title="Proceeds from issuance of secured promissory note">5.4</span> million of proceeds from the Company’s secured promissory note issued on November 4, 2025 that is required to be held in a restricted account pursuant to the Note Purchase Agreement. Amounts held in the restricted account become available to the Company as the outstanding principal of the Note is repaid (see Note 9).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 5600000 200000 5400000 <p id="xdx_847_eus-gaap--ConcentrationRiskCreditRisk_zE3MMSGbrn05" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_zifwhxa60YWk">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the federal depository insurance coverage of $<span id="xdx_905_eus-gaap--CashFDICInsuredAmount_iI_uUSD_c20260331__srt--StatementGeographicalAxis__country--US_z7gUpbeMZPEg" title="Cash FDIC insured amount">250,000</span> in the United States, A$<span id="xdx_90F_eus-gaap--CashFDICInsuredAmount_iI_uAUD_c20260331__srt--StatementGeographicalAxis__country--AU_zLkdEA4hIpqb" title="Cash FDIC insured amount">250,000</span> in Australia, $<span id="xdx_906_eus-gaap--CashFDICInsuredAmount_iI_uUSD_c20260331__srt--StatementGeographicalAxis__country--BM_z8jflRkUGJZe" title="Cash FDIC insured amount">25,000</span> in Bermuda, €<span id="xdx_906_eus-gaap--CashFDICInsuredAmount_iI_uEUR_c20260331__srt--StatementGeographicalAxis__country--IE_zvzsqbKTFD9a" title="Cash FDIC insured amount">100,000</span> in Ireland and €<span id="xdx_900_eus-gaap--CashFDICInsuredAmount_iI_uEUR_c20260331__srt--StatementGeographicalAxis__country--CY_zhbZ2tY5spQa" title="Cash FDIC insured amount">100,000</span> in Cyprus. There is currently no official federal depository insurance in Israel. The Company has not experienced losses on these accounts, and management believes the Company is not exposed to significant risks on such accounts. <span id="xdx_906_eus-gaap--ConcentrationRiskBenchmarkDescription_c20260331__20260331_zwBsDcqjI1ci" title="Concentration risk benchmark description">As of March 31, 2026, the Company had greater than $250,000 at United States financial institutions, less than A$250,000 at Australian financial institutions, greater than €100,000 at Irish financial institutions and also has funds on deposit in Israel.</span> Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations and cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_eus-gaap--ScheduleOfCashCashEquivalentsAndShortTermInvestmentsTableTextBlock_zO39TGqE6eHg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table is the reconciliation of the presentation and disclosure of cash, cash equivalents, marketable securities by major security type and restricted cash as shown on the Company’s consolidated statements of cash flows for:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_z0jfOmMC4Fy7" style="display: none">SCHEDULE OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260331_zKbwo92hRnU4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250331_zIIVYqgiz4Xl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_maCCEASz3pW_maRCACEzZrO_zQj3UHc54oZf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,740</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,665</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RestrictedCashCurrent_iI_pn3n3_maRCACEzZrO_zFxqdPDYOz83" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,622</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">231</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--RestrictedCashAndCashEquivalents_iTI_pn3n3_mtRCACEzZrO_maCCEASziVz_zCa0NYeQZvO8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total cash, cash equivalents and restricted cash</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">12,362</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,896</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--MarketableSecuritiesAbstract_iB_zy0yiyUF65n9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Marketable securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--MarketableSecuritiesCurrent_i01I_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--MutualFundMember_z213JS7INxXc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Mutual funds</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,901</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,252</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--MarketableSecuritiesCurrent_i01I_pn3n3_maCCEASziVz_zJBHKOVrL1Ok" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total marketable securities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">4,901</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,252</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--CashCashEquivalentsAndShortTermInvestments_iTI_pn3n3_mtCCEASziVz_zHJeioG91Fig" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total cash, cash equivalents, marketable securities and restricted cash</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">17,263</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,148</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zPNalkSO2Hci" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER RISKS AND UNCERTAINTIES (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 250000 250000 25000 100000 100000 As of March 31, 2026, the Company had greater than $250,000 at United States financial institutions, less than A$250,000 at Australian financial institutions, greater than €100,000 at Irish financial institutions and also has funds on deposit in Israel. <p id="xdx_89D_eus-gaap--ScheduleOfCashCashEquivalentsAndShortTermInvestmentsTableTextBlock_zO39TGqE6eHg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table is the reconciliation of the presentation and disclosure of cash, cash equivalents, marketable securities by major security type and restricted cash as shown on the Company’s consolidated statements of cash flows for:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_z0jfOmMC4Fy7" style="display: none">SCHEDULE OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260331_zKbwo92hRnU4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250331_zIIVYqgiz4Xl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_maCCEASz3pW_maRCACEzZrO_zQj3UHc54oZf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,740</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,665</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RestrictedCashCurrent_iI_pn3n3_maRCACEzZrO_zFxqdPDYOz83" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,622</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">231</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--RestrictedCashAndCashEquivalents_iTI_pn3n3_mtRCACEzZrO_maCCEASziVz_zCa0NYeQZvO8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total cash, cash equivalents and restricted cash</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">12,362</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">4,896</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--MarketableSecuritiesAbstract_iB_zy0yiyUF65n9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Marketable securities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--MarketableSecuritiesCurrent_i01I_pn3n3_hus-gaap--FinancialInstrumentAxis__us-gaap--MutualFundMember_z213JS7INxXc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Mutual funds</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,901</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,252</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--MarketableSecuritiesCurrent_i01I_pn3n3_maCCEASziVz_zJBHKOVrL1Ok" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total marketable securities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">4,901</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,252</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--CashCashEquivalentsAndShortTermInvestments_iTI_pn3n3_mtCCEASziVz_zHJeioG91Fig" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total cash, cash equivalents, marketable securities and restricted cash</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">17,263</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,148</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 6740000 4665000 5622000 231000 12362000 4896000 4901000 2252000 4901000 2252000 17263000 7148000 <p id="xdx_84C_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zeVEjAVtjFMl" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_862_zgbsc8xF2Yja">Fixed Assets</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_ecustom--ScheduleOfPropertyAndEquipmentUsefulLifeOfAssetsTableTextBlock_zpfWmIi8fGMe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment are stated at cost less accumulated depreciation and accumulated amortization. Depreciation and amortization are calculated using the straight-line method over the estimated useful life of the assets as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_zziOzbX9ZBq2" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE OF ASSETS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Computer equipment </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zGOdAUEMpnMl" title="Estimated useful life of assets">Three years</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furniture and fixtures </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z0YAIfctOaLa" title="Estimated useful life of assets">Five years</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Clinical and medical equipment </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Three<span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ClinicalAndMedicalEquipmentMember__srt--RangeAxis__srt--MinimumMember_zeg8FPWttisb" style="display: none" title="Estimated useful life of assets">3</span>/<span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ClinicalAndMedicalEquipmentMember__srt--RangeAxis__srt--MaximumMember_zL0oHTEqzoq9" title="Estimated useful life of assets">Five years</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equipment deployable as part of a service offering</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentDeployableAsPartOfServiceOfferingMember_zbKoyiHEMEGc" title="Estimated useful life of assets">Five years</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leasehold improvements </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zIOJZqQidfNf" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23UsefulLifeTermOfLeaseMember"><span style="-sec-ix-hidden: xdx2ixbrl0906">Shorter of term of lease or estimated useful life of the asset</span></span></span></td></tr> </table> <p id="xdx_8A0_zcPMD6dQyzx5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_ecustom--ScheduleOfPropertyAndEquipmentUsefulLifeOfAssetsTableTextBlock_zpfWmIi8fGMe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment are stated at cost less accumulated depreciation and accumulated amortization. Depreciation and amortization are calculated using the straight-line method over the estimated useful life of the assets as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B3_zziOzbX9ZBq2" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE OF ASSETS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Computer equipment </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zGOdAUEMpnMl" title="Estimated useful life of assets">Three years</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furniture and fixtures </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z0YAIfctOaLa" title="Estimated useful life of assets">Five years</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Clinical and medical equipment </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Three<span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ClinicalAndMedicalEquipmentMember__srt--RangeAxis__srt--MinimumMember_zeg8FPWttisb" style="display: none" title="Estimated useful life of assets">3</span>/<span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ClinicalAndMedicalEquipmentMember__srt--RangeAxis__srt--MaximumMember_zL0oHTEqzoq9" title="Estimated useful life of assets">Five years</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equipment deployable as part of a service offering</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentDeployableAsPartOfServiceOfferingMember_zbKoyiHEMEGc" title="Estimated useful life of assets">Five years</span></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leasehold improvements </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zIOJZqQidfNf" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23UsefulLifeTermOfLeaseMember"><span style="-sec-ix-hidden: xdx2ixbrl0906">Shorter of term of lease or estimated useful life of the asset</span></span></span></td></tr> </table> P3Y P5Y P3Y P5Y P5Y <p id="xdx_849_eus-gaap--SegmentReportingPolicyPolicyTextBlock_zWhSe7IFIEI8" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_860_zw5wt5bfBJHc">Segment Reporting</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating segments are defined as components of an entity for which both discrete financial information is available and regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The CODM is the Company’s Chief Executive Officer. The Company’s CODM evaluates performance and allocates resources for all of the Company’s reportable segments based on income/loss from operations. The CODM is involved in determining and reviewing projected income/loss from operations as part of the annual budget process. Throughout the year, the CODM considers forecast to actual results and variances to allocate resources. The CODM also considers this information in strategic decisions related to capital allocations, including investments in assets, research and development activities, and human capital.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s reportable segments at March 31, 2026 included <span id="xdx_905_ecustom--NumberOfReportableSegmentsDisclosedByDefinitionFlag_dbT_c20250401__20260331_zg48RG5VSya9" title="Number of repotable segments">Beyond Air, Beyond Cancer, and NeuroNos</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Beyond Air segment includes unallocated corporate expenses associated with the public company fees as well as all corporate related assets and liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> true <p id="xdx_844_eus-gaap--InventoryPolicyTextBlock_zUPk5S2yRd52" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_zQVSCnoOtmF">Inventories</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories consist primarily of purchased filters, bagging kits, cables, adapters, and other components and accessories required to use the LungFit® PH device held for sale to customers. Inventories are recorded at the lower of cost or net realizable value. Cost comprises direct materials, third-party manufacturing costs and shipping costs incurred to deliver goods to the Company’s central warehouse location. Costs are assigned to individual items of inventory on the basis of weighted average costs. Inventory items are tracked by batch/lot number for specific identification whenever possible.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventory reserves are established for estimated excess and obsolete inventory equal to the difference between the cost of the inventory and the estimated net realizable value of the inventory based on historical usage, known trends, and market conditions and judgment about the anticipated future consumption and the Company’s ability to sell the inventory. At March 31, 2026 and March 31, 2025, excess and obsolescence reserves were $<span id="xdx_901_eus-gaap--InventoryValuationReserves_iI_pn5n6_c20260331_ztjhcafgaG3f" title="Obsolescence reserves">0.4</span> million and $<span id="xdx_908_eus-gaap--InventoryValuationReserves_iI_pn5n6_c20250331_zH80QGz5OvLl" title="Obsolescence reserves">0.2</span> million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 400000 200000 <p id="xdx_84A_eus-gaap--LesseeLeasesPolicyTextBlock_zTwdbBYwhUzf" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_864_zVQil3J6jCZ1">Leases</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating lease assets are included within operating lease right-of-use assets, and the corresponding operating lease obligation on the consolidated balance sheets in accordance with ASC 842, <i>Leases</i>. The Company has elected not to present short-term leases as these leases have a lease term of 12 months or less at lease inception and do not contain purchase options or renewal terms that the Company is reasonably certain to exercise. All other lease assets and lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Operating lease expense is recognized on a straight-line basis over the lease term and is included in general and administrative and research development expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The interest rate implicit in the Company’s leases is typically not readily determinable. As a result, the Company utilizes its incremental borrowing rate in determining the present value of lease payments, which reflects the fixed rate at which the Company could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER RISKS AND UNCERTAINTIES (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--ResearchAndDevelopmentExpensePolicy_zBYK3lPY60Yh" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86B_z5irVTKx8dx6">Research and Development</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Research and development expenses are charged to the consolidated statements of operations and comprehensive loss as incurred. Research and development expenses include salaries, benefits, stock-based compensation and costs incurred by outside laboratories, manufacturers, clinical research organizations, consultants, and accredited facilities in connection with preclinical studies and clinical trials. Research and development expenses are partially offset by the benefit of tax incentive payments for qualified research and development expenditures from the Australian tax authority (“AU Tax Rebates”). The Company does not record AU Tax Rebates until payment is received due to the uncertainty of receipt. For the years ended March 31, 2026 and March 31, 2025, the Company received $<span id="xdx_903_ecustom--TaxRebate_pn5n6_c20250401__20260331__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--AustralianTaxationOfficeMember_zRpYbVFqB6W2" title="Tax Rebate">0.1</span> million and $<span id="xdx_903_ecustom--TaxRebate_pn5n6_c20240401__20250331__us-gaap--IncomeTaxAuthorityNameAxis__us-gaap--AustralianTaxationOfficeMember_zmlzooNdSbHh" title="Tax Rebate">0.0</span> million, respectively, in AU Tax Rebates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 100000 0.0 <p id="xdx_84C_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zWyTcYHOwBAl" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_zee0Dj2iQdC3">Foreign Exchange Transactions</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s subsidiaries transact in U.S. dollars, Euros, New Israeli Shekels and Australian dollars. The Company’s main operations are in the United States and the U.S. dollar is the currency of the primary economic environment in which the Company operates and expects to continue to operate in the foreseeable future. The Company translated its non-U.S. operations’ assets and liabilities denominated in foreign currencies into U.S. dollars at current rates of exchange as of the balance sheet date and income and expense items at the average exchange rate for the reporting period. Gains or losses from foreign currency transactions are included in other income (expense) in the consolidated statements of operations and comprehensive loss as foreign currency exchange gain/(loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In consolidating international subsidiaries, balance sheet currency effects are recorded as a component of accumulated other comprehensive income and loss. The accumulated other comprehensive income and loss account includes the cumulative results of translating certain balance sheet assets and liabilities at current exchange rates and some accounts at historical rates. For the year ended March 31, 2026, the Company recorded gains of $<span id="xdx_90B_eus-gaap--AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_iI_pn5n6_c20260331_z7YLqXHZMmJ7" title="Accumulated other comprehensive income">0.2</span> million in accumulated other comprehensive income. For the year ended March 31, 2025, the Company recorded losses of $<span id="xdx_90F_eus-gaap--AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_iI_pn5n6_c20250331_z4Km4oWtws39" title="Accumulated other comprehensive income">0.1</span> million in accumulated other comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 200000 100000 <p id="xdx_840_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zoq7zmHFHfej" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86B_zCmkfEn80O85">Stock-Based Compensation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company measures the cost of employee and non-employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. Fair value for restricted stock unit awards is valued using the closing price of the Company’s common stock on the date of grant. The grant date fair value is recognized over the requisite service period during which an employee and non-employee is required to provide service in exchange for the award, using the accelerated method with each tranche being expensed over its vesting period. The grant date fair value of employee and non-employee share options is estimated using the Black-Scholes option pricing model. The risk-free interest rate assumptions were based upon the observed interest rates appropriate for the expected term of the equity instruments. The expected dividend yield was assumed to be zero as the Company has not paid any dividends since its inception and does not anticipate paying dividends in the foreseeable future. The Company accounts for forfeitures as they occur. Starting in 2023, Beyond Air used its own historical volatility as an input for expected volatility, but due to Beyond Cancer’s and NeuroNos’ lack of marketability, the Company utilizes the implied volatility based on an aggregate of guideline companies for expected volatility. The Company uses the simplified method to estimate the expected term.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_ecustom--SupplierConcentrationPolicyTextBlock_zKF0PPuy2u2h" style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_znqew8oyzWYi">Supplier Concentration</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company relies on third-party suppliers to provide materials for its devices and consumables.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the year ended March 31, 2026, the Company purchased approximately <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FirstThirdPartyVendorsMember_zWOjQrfo8Lg9" title="Concentration percentage">74</span>% and <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SecondThirdPartyVendorsMember_zPKH5GFKgKkk" title="Concentration percentage">18</span>% of its materials from two third-party vendors. In the year ended March 31, 2025, the Company purchased approximately <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThirdPartyVendorsMember_zzzCD2frilml" title="Concentration percentage">85</span>% of its materials from one third-party vendor.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.74 0.18 0.85 <p id="xdx_849_ecustom--CustomerrConcentrationPolicyTextBlock_zt0y7eVOQCR8" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_zZK72rqbNr5k">Customer Concentration</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the year ended March 31, 2026, the Company derived <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomersOneMember_zYh7HM53rlHa" title="Concentration percentage">11</span>% and <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomersTwoMember_zqCNA4uF7rjc" title="Concentration percentage">10</span>% of its revenues from two customers. For the year ended March 31, 2025, the Company derived <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomersOneMember_z8mTZnZnEwR7" title="Concentration percentage">16</span>% and <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomersTwoMember_zjovfV2GnvV8" title="Concentration percentage">10</span>% of its revenues from two customers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.11 0.10 0.16 0.10 <p id="xdx_847_eus-gaap--GoodwillAndIntangibleAssetsPolicyTextBlock_zYiYbUZ0aaWj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_zBR8SZsHLuE4">Licensed Right to Use Technology</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Licensed right to use technology that is considered platform technology with alternative future uses is recorded as an intangible asset and is amortized on a straight-line method over its estimated useful life, determined to be thirteen years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zPqdqDxadk6d" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The expected amortization expense for the next five years and thereafter is as follows for the year ended March 31 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B8_zfGTZeVvBHb1" style="display: none">SCHEDULE OF FUTURE EXPECTED AMORTIZATION EXPENSE</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_490_20260331_zTDHWIObOgA5" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_pn3n3_maFLIANz72H_ztGt05u0vLWc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%; text-align: left">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">205</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_pn3n3_maFLIANz72H_zdQScyCDpJTa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">205</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_pn3n3_maFLIANz72H_zdimKZ1UaNT8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">205</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_pn3n3_maFLIANz72H_zoImxPVfM5fi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">205</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_pn3n3_maFLIANz72H_zoRKAth2Mncg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2031</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">198</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANz72H_ziR28fJCHfik" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,018</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AB_z0prWWE0AGMe" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zPqdqDxadk6d" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The expected amortization expense for the next five years and thereafter is as follows for the year ended March 31 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B8_zfGTZeVvBHb1" style="display: none">SCHEDULE OF FUTURE EXPECTED AMORTIZATION EXPENSE</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: left"> </td><td style="display: none"> </td> <td style="display: none; text-align: left"> </td><td id="xdx_490_20260331_zTDHWIObOgA5" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_pn3n3_maFLIANz72H_ztGt05u0vLWc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 84%; text-align: left">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">205</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_pn3n3_maFLIANz72H_zdQScyCDpJTa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">205</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_pn3n3_maFLIANz72H_zdimKZ1UaNT8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">205</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_pn3n3_maFLIANz72H_zoImxPVfM5fi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">205</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_pn3n3_maFLIANz72H_zoRKAth2Mncg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2031</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">198</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANz72H_ziR28fJCHfik" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,018</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 205000 205000 205000 205000 198000 1018000 <p id="xdx_848_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zWfi9ADUtDcc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_860_z8VqivzDPyKg">Long-Lived Assets</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company assesses the impairment of long-lived assets on an ongoing basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors that the Company considers as potential triggers of an impairment review include the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">significant underperformance relative to expected historical or projected future operating results,</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">significant changes in the manner of the Company’s use of the acquired assets or the strategy for its overall business,</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">significant negative regulatory or economic trends, and</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">significant technological changes, which would render the platform technology, equipment, and manufacturing processes obsolete. </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recoverability of assets that will continue to be used in the Company’s operations is measured by comparing the carrying value to the future net undiscounted cash flows expected to be generated by the asset or asset group. Future undiscounted cash flows include estimates of future revenues, driven by market growth rates, and estimates of future costs. There were no events during the reporting periods that were deemed to be a triggering event that would require an impairment assessment, other than the impairment of $<span id="xdx_900_eus-gaap--OtherAssetImpairmentCharges_pn5n6_c20240401__20250331_zfqvadaSCqaj" title="Other asset impairment charges">0.5</span> million recorded during the year ended March 31, 2025 associated with certain R&amp;D assets following Management’s decision to put its VCAP clinical trial on hold.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND OTHER RISKS AND UNCERTAINTIES (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 500000 <p id="xdx_84F_eus-gaap--IncomeTaxPolicyTextBlock_z1EpRTJlMHf1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_z6dWFnrUzn86">Income Taxes</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for income taxes using the asset and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in the tax rate is recognized in income or expense in the period that the change is effective. Tax benefits are recognized when it is probable that the deduction will be sustained. A valuation allowance is established when it is more likely than not that all or a portion of a deferred tax asset will either expire before the Company is able to realize the benefit, or that future deductibility is uncertain. As of March 31, 2026 and March 31, 2025, the Company recorded a valuation allowance to the full extent of the Company’s net deferred tax assets since the likelihood of realization of the benefit does not meet the more-likely-than-not threshold.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s reserves related to taxes are based on a determination of whether and how much of a tax benefit taken by the Company in its tax filings or positions is more likely than not to be realized following resolution of any potential contingencies present related to the tax benefit. The Company would recognize both estimated accrued interest and penalties related to unrecognized benefits within income tax expense in the consolidated statements of operations and comprehensive loss. The Company’s uncertain tax positions are related to years that remain subject to examination by relevant tax authorities. Since the Company is in a loss carryforward position, the Company is generally subject to examination by the U.S. federal, state and local income tax authorities for all tax years in which a loss carryforward is available.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_eus-gaap--EarningsPerSharePolicyTextBlock_zUjUHEdFaDd8" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_862_zboUTYq1V7Xd">Net Loss Per Share</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic and diluted net loss per share attributable to common stockholders is computed by dividing the net loss attributable to Beyond Air, Inc., by the weighted average number of shares of common stock outstanding for the period. The dilutive effect of outstanding options, warrants, restricted stock and other stock-based compensation awards is reflected in diluted net loss per share by application of the treasury stock method. The calculation of diluted net loss attributed to common stockholders per share excludes all anti-dilutive shares of common stock. For periods in which the Company has reported net losses, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders, because such shares of common stock are not assumed to have been issued if their effect is anti-dilutive (Note 8).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--ConsolidationVariableInterestEntityPolicy_zXmJuTlw0mS" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_868_zvtldgtakaPf">Variable Interest Entity</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As the Company has the power to direct activities of both Beyond Cancer and NeuroNos that most significantly impact their economic performance and the right to receive benefits and losses that may potentially be significant, these financial statements are fully consolidated with those of the Company. The non-controlling owners’ <span id="xdx_909_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20260331__srt--OwnershipAxis__custom--BeyondCancerLtdMember_zVO1dsDjeZKb" title="Non-controlling owners interest">20</span>% interest in Beyond Cancer’s net assets and result of operations and the non-controlling owners’ <span id="xdx_909_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_pid_dp_uPure_c20260331__srt--OwnershipAxis__custom--NeuroNosLtdMember_zGruHsD1j4A8" title="Non-controlling owners interest">15.25</span>% interest in NeuroNos’ net assets and result of operations are reported as “non-controlling interest” on the Company’s consolidated balance sheets and as “net loss attributable to non-controlling interest” in the Company’s consolidated statements of operations and comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0.20 0.1525 <p id="xdx_840_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_z2e5hTyHtoI" style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_868_z3xqho5VK4fa">Recently Adopted Accounting Standards</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, <i>Improvements to Tax Disclosures (Topic 740), </i>to enhance the disclosures related to income taxes, including the rate reconciliation and information on income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024 (fiscal 2026 for the Company), with early adoption permitted. The Company adopted this standard effective April 1, 2025 prospectively. See Note 11, “Income Taxes,” for further information regarding the Company’s effective income tax.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_ecustom--RecentlyIssuedAccountingStandardsNotYetAdoptedPolicyTextBlock_zypEtiThyZ79" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_ztIW2GOFmu92">Recently Issued Accounting Standards Not Yet Adopted</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU 2024-03, <i>Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40).</i> This standard requires disclosure of specific information about costs and expenses and becomes effective for fiscal years beginning after December 15, 2026 (fiscal 2028 for the Company), with early adoption permitted. The Company is assessing the impact of this ASU and, upon adoption, may be required to include certain additional disclosures in the footnotes to the Consolidated Financial Statements.</span></p> <p id="xdx_800_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zknGdoUxPgC8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 3 <span id="xdx_82F_zCAFy9urtsij">PROPERTY AND EQUIPMENT</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--PropertyPlantAndEquipmentTextBlock_zMLxG8Xv4tae" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_za6Zd0dRYAWe" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">(in thousands)</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260331_zDU3FrgE1UK3" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>March 31, </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2026</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250331_z8F8ZR3n9Atd" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>March 31,</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ClinicalAndMedicalEquipmentMember_zIGK6yflbM0b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Clinical and medical equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">206</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,048</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentDeployableAsPartOfServiceOfferingMember_zSOgUnmfLmx6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Equipment deployable as part of a service offering</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,871</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,511</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zpz3vKbJKZ4e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Computer equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">853</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">927</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zlu4qQjjp4k8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and fixtures</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">458</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">506</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zN2v5XsHcI9d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Leasehold improvements</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">521</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">521</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzruM_zdxqruQDXCsk" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, gross</span></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,909</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,513</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzruM_zd7ivrOPoKl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,660</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,500</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzruM_zqkpMFbHCKn2" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, net</span></span></span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,249</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,013</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_zxjZ6EdJJSVk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depreciation and amortization for the years ended March 31, 2026 and March 31, 2025 was $<span id="xdx_901_eus-gaap--DepreciationAndAmortization_pn5n6_c20250401__20260331_zTuSWbKYOdD5" title="Depreciation and amortization">3.1</span> million and $<span id="xdx_90D_eus-gaap--DepreciationAndAmortization_pn5n6_c20240401__20250331_zwk7UJyxPls9" title="Depreciation and amortization">3.0</span> million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--PropertyPlantAndEquipmentTextBlock_zMLxG8Xv4tae" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_za6Zd0dRYAWe" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">(in thousands)</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260331_zDU3FrgE1UK3" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>March 31, </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2026</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250331_z8F8ZR3n9Atd" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>March 31,</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ClinicalAndMedicalEquipmentMember_zIGK6yflbM0b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Clinical and medical equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">206</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,048</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentDeployableAsPartOfServiceOfferingMember_zSOgUnmfLmx6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Equipment deployable as part of a service offering</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,871</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,511</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zpz3vKbJKZ4e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Computer equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">853</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">927</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zlu4qQjjp4k8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Furniture and fixtures</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">458</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">506</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zN2v5XsHcI9d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Leasehold improvements</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">521</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">521</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzruM_zdxqruQDXCsk" style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, gross</span></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,909</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,513</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzruM_zd7ivrOPoKl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,660</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,500</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzruM_zqkpMFbHCKn2" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment, net</span></span></span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,249</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,013</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 206000 1048000 13871000 13511000 853000 927000 458000 506000 521000 521000 15909000 16513000 7660000 5500000 8249000 11013000 3100000 3000000.0 <p id="xdx_807_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zgbqHstXpIc6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 4 <span id="xdx_823_z2bzvYxgVhx7">STOCKHOLDERS’ EQUITY</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 10, 2025, the Company entered into an At-The-Market Equity Offering Sales Agreement with BTIG, Inc. (the “2025 ATM”). Under the 2025 ATM, the Company may sell shares of its common stock having aggregate sales proceeds of up to $<span id="xdx_908_eus-gaap--SaleOfStockConsiderationReceivedPerTransaction_pn5n6_c20250210__20250210__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyFiveATMMember_zeIU2Z6ZhADc">35.0</span> million, from time to time and at various prices. If shares of the Company’s common stock are sold, there is a<span id="xdx_902_ecustom--SaleOfStockFeePercentage_pid_dp_uPure_c20250210__20250210__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyFiveATMMember_zJTEkPL3x7gd" title="Sale of stock fee percentage"> 2.5</span>% fee paid to the sales agent. Pursuant to the “baby shelf rules” promulgated by the U.S. Securities and Exchange Commission (“SEC”), if the Company’s public float is less than $<span id="xdx_90B_ecustom--PublicFloatValue_iI_pn5n6_c20250210__srt--RangeAxis__srt--MaximumMember_zLygtgUpxcnj" title="Public float value">75.0</span> million as of specified measurement periods, the number of shares of common stock that may be offered and sold by the Company under a Form S-3 registration statement, including pursuant to the 2025 ATM, in any twelve-month period is limited to an aggregate amount that does not exceed one-third of the Company’s public float. As of March 31, 2026, due to the SEC’s “baby shelf rules,” the Company may currently not sell any shares of common stock pursuant to the 2025 ATM. The Company will remain subject to the “baby shelf rules” under the Form S-3 registration statement until such time as its public float exceeds $<span id="xdx_90F_ecustom--PublicFloatValue_iI_pn5n6_c20250210__srt--RangeAxis__srt--MaximumMember_zfFcQoG5Qisj" title="Public float value">75.0</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended March 31, 2026, the Company received net proceeds of $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyFiveATMMember_zVVQzppfBhGa" title="Sale of net proceeds">8.1</span> million from the sale of <span id="xdx_90E_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyFiveATMMember_zCDBFQ3984X4" title="Number of shares issued in transaction">2,441,775</span> shares of common stock through the 2025 ATM. During the year ended March 31, 2025, the Company received net proceeds of $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20240401__20250331__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyFiveATMMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zSuX9wEFBw7a" title="Sale of net proceeds">2.1</span> million from the sale of <span id="xdx_909_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20240401__20250331__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyFiveATMMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z7G3641MMQa5" title="Number of shares issued in transaction">337,100</span> shares of common stock through the 2025 ATM.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 4, 2025, the Company entered into an equity purchase agreement (the “Streeterville Purchase Agreement”) with Streeterville Capital, LLC (“Streeterville”) for the purchase of up to $<span id="xdx_905_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn6n6_c20251104__20251104__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_znOjc9Zwtdzf" title="Share purchase value">20</span> million of the Company’s shares of Common Stock. In connection with the Streeterville Purchase Agreement, Streeterville and the Company entered into a Registration Rights Agreement, pursuant to which the Company filed a registration statement for the resale of up to <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20251104__20251104__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zDDznPqtRfOh" title="Shares available for resale">1,600,000</span> shares of Common Stock (the “Registration Statement”). During January 2026, Streeterville elected to purchase <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pn5n6_c20260101__20260131__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_z52Ft1NKzaF5" title="Shares available for resale">1.6</span> million shares of common stock with an average fair market value of $<span id="xdx_909_eus-gaap--SharePrice_iI_pid_c20260131__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zBKQRmndzor3" title="Price per share">2.09</span> per share over each issuance date, resulting in approximately $<span id="xdx_907_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_pn5n6_c20260101__20260131__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zGyjGeXSmCmg" title="Adjustments in additional paid in capital">3.3</span> million recorded to additional paid-in capital.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Streeterville Purchase Agreement (so long as there is no balance outstanding on the Note (Note 9), the Company has the right, but not the obligation, to direct Streeterville, by delivery to Streeterville of a put notice from time to time during a period of up to two years, to purchase shares of Common Stock (i) in a minimum amount not less than $<span id="xdx_908_eus-gaap--PaymentsForRepurchaseOfCommonStock_c20251104__20251104__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zpv9aIITfbb6" title="Common stock minimum purchase amount">25,000</span>, and (ii) in a maximum amount up to the median daily trading volume of the Common Stock during the five trading days immediately preceding delivery of the put notice, or such other greater amount mutually agreed upon by the parties; provided, however, that the number of put shares shall not exceed the beneficial ownership limitation, of <span id="xdx_90D_ecustom--BeneficialOwnershipLimitationPercentage_iI_pid_dp_uPure_c20251104__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zpoGWaSpC8C8" title="Beneficial ownership limitation percentage">4.99</span>% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable pursuant to a put notice.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 14, 2026, the Company entered into the Securities Purchase Agreement with an institutional investor pursuant to which the Company sold, in a private placement offering, an aggregate of (i) <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20260114__20260114__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zWTvubm0W5Be" title="Stock issued during the period, shares">524,990</span> shares of common stock (ii) <span id="xdx_907_eus-gaap--WarrantsAndRightsOutstanding_iI_c20260114__us-gaap--StatementEquityComponentsAxis__custom--TwoThousandTwentySixPreFundedWarrantsMember_znYpEJq6iY32" title="Purchase warrants">3,405,828</span> pre-funded stock purchase warrants, (the “2026 Pre-funded Warrants”) and (iii) <span id="xdx_90D_eus-gaap--WarrantsAndRightsOutstanding_iI_c20260114__us-gaap--StatementEquityComponentsAxis__custom--TwoThousandTwentySixCommonWarrantsMember_z4phR7Yseq9f" title="Purchase warrants">3,930,818</span> stock purchase warrants (the “2026 Common Warrants” and together with the 2026 Pre-funded Warrants, the “2026 Warrants”). Each common share and accompanying 2026 Common Warrant were sold together at a combined offering price of $<span id="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260114__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z7tgU63ae217" title="Common stock warrant offering price"><span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260114__us-gaap--StatementEquityComponentsAxis__custom--TwoThousandTwentySixCommonWarrantsMember_zTqwSFJvTRqa" title="Common stock warrant offering price">1.272</span></span> per share, and each 2026 Pre-Funded Warrant was sold at an offering price of $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260114__us-gaap--StatementEquityComponentsAxis__custom--TwoThousandTwentySixPreFundedWarrantsMember_zzZkt8yUcgBe" title="Common stock warrant offering price">1.2719</span> per 2026 Pre-funded Warrant for gross proceeds of $<span id="xdx_90A_eus-gaap--ProceedsFromIssuanceOfWarrants_pn6n6_c20260114__20260114__us-gaap--StatementEquityComponentsAxis__custom--PreFundedWarrantsMember_z6EHlv298lWb" title="Proceeds from issuance of warrants">5.0</span> million. The 2026 Pre-Funded Warrants have an exercise price of $<span id="xdx_90A_eus-gaap--WarrantExercisePriceIncrease_c20260116__20260116__us-gaap--StatementEquityComponentsAxis__custom--TwoThousandTwentySixPreFundedWarrantsMember_z8Go3PBAMiyg" title="Warrant exercise price">0.0001</span> per share, and the 2026 Common Warrants have an exercise price of $<span id="xdx_902_eus-gaap--WarrantExercisePriceIncrease_c20260114__20260114__us-gaap--StatementEquityComponentsAxis__custom--TwoThousandTwentySixPreFundedWarrantsMember_zFn9LGBLK7w5" title="Warrant exercise price">1.147</span> per share. The private placement offering closed on January 16, 2026. The Company received total net proceeds of $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOfWarrants_pn5n6_c20250401__20260331__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_z1561Zkn5Jkg" title="Proceeds from private placement">4.5</span> million after deductions for placement agent commissions and other offering costs of $<span id="xdx_90E_eus-gaap--PaymentsForCommissions_pn5n6_c20250401__20260331__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_z13PQlq2Khm" title="Commission paid">0.3</span> million and $<span id="xdx_90E_eus-gaap--DeferredCostsCurrent_iI_pn5n6_c20260331__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zptzsNoadK86" title="Deferred costs current">0.2</span> million, respectively, during the year ended March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 4 STOCKHOLDERS’ EQUITY (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Stock Option Plans</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s Eighth Amended and Restated 2013 Beyond Air Equity Incentive Plan (the “2013 BA Plan”) allows for awards to officers, directors, employees, and consultants of stock options, restricted stock units and restricted shares of the Company’s common stock. On November 25, 2025, the Company’s Board of Directors approved an amendment to the 2013 BA Plan to increase the number of shares in the 2013 BA Plan by <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20251125__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zVsR1uSTAMB3" title="Stock option shares authorized for issuance">850,000</span>, which was approved by the Company’s stockholders at the 2026 annual stockholder meeting on January 30, 2026. The 2013 BA Plan has <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zRxr6sjZ04Sd" title="Stock option shares authorized for issuance">1,680,000</span> shares authorized for issuance. As of March 31, 2025, <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zK2utwD7IXq6" title="Stock option available shares">894,276</span> shares were available under the 2013 BA Plan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Restricted Stock Units</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value for the restricted stock unit awards was valued at the closing price of the Company’s common stock on the date of grant. Restricted stock units vest annually over <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dc_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zp3oWF5SWlp8" title="Vesting period">five years</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_899_eus-gaap--ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_zLPikjit4Xa2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the Company’s restricted stock unit awards for the years ended March 31, 2026 and March 31, 2025 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BD_zExED22KtKVf" style="display: none">SCHEDULE OF RESTRICTED STOCK AWARDS</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number Of</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shares</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average Grant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Date Fair </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Value</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Unvested as of March 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z6MuNpET45r8" style="width: 16%; text-align: right" title="Unvested Number of Shares, Beginning balance">30,945</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zB0SKhNOdUK3" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value, Beginning balance">139.60</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zzCJpLPJ4tW7" style="text-align: right" title="Number of Shares, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1087">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zW9veaMoeSR8" style="text-align: right" title="Weighted Average Grant Date Fair Value, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1089">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zMg8cv71H9Og" style="text-align: right" title="Number of Shares, Vested">(12,240</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zbnKrhCW15E" style="text-align: right" title="Weighted Average Grant Date Fair Value, Vested">137.20</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zkc6cTHzSkZ2" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares, Forfeited">(440</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zjoEnOhgqtnl" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, Forfeited">229.60</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Unvested as of March 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zeg4dH5hz1Ul" style="border-bottom: Black 1pt solid; text-align: right" title="Unvested Number of Shares, Beginning balance">18,265</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z1iho2up2q8b" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, Beginning balance">139.40</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zlnBw6qwW5lf" style="text-align: right" title="Number of Shares, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1103">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zroJU2kT7Eq8" style="text-align: right" title="Weighted Average Grant Date Fair Value, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1105">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zB3PfQsrwQCg" style="text-align: right" title="Number of Shares, Vested">(8,630</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zjrLsw2vGFIe" style="text-align: right" title="Weighted Average Grant Date Fair Value, Vested">150.26</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zacVs3383fwl" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares, Forfeited">(150</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zhQ6nv5gB0rg" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, Forfeited">137.40</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Unvested as of March 31, 2026</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zx0uM3ife9Ta" style="border-bottom: Black 1pt solid; text-align: right" title="Unvested Number of Shares, Ending balance">9,485</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zyzVzIbf5x27" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, ending balance">129.41</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A4_zGi1YhK8Cy3f" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock-based compensation expense related to these stock issuances for the years ended March 31, 2026 and March 31, 2025 was $<span id="xdx_905_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20250401__20260331_z7HQw3yN6kL8" title="Employee benefits and share based compensation">0.5</span> million and $<span id="xdx_906_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20240401__20250331_z7p8ylKZbkfa" title="Employee benefits and share based compensation">1.0 </span>million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, the Company had unrecognized stock-based compensation expense for the restricted stock unit awards in the 2013 BA Plan of approximately $<span id="xdx_90B_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_pn5n6_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandThirteenBAPlanMember_zpeMcRV8t2f3" title="Share based compensation">0.3</span> million, which is expected to be expensed over the weighted average remaining service period of <span id="xdx_90C_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zb6nOFhmwMc3" title="Weighted average remaining service, period">1.0</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, all vested shares had been issued.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 4 STOCKHOLDERS’ EQUITY (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Stock Options</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The vesting terms of the options issued under the 2013 BA Plan are generally <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dc_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zfI8jrxnK5Re" title="Vesting period">four years</span> and expire <span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_dc_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zPcgrtQL7ulg" title="Expiration period">ten years</span> from the grant date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_hus-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zcILgvnqjbS4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the change in stock options for the years ended March 31, 2026 and March 31, 2025 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BD_zPMO2ul4ry35" style="display: none">SCHEDULE OF OPTION ACTIVITY</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Of</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exercise</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Price–-</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Remaining</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contractual</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Life- </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Aggregate</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Intrinsic</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Value</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(thousands)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Options outstanding as of March 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zDIuTD1HmBn" style="width: 11%; text-align: right" title="Number of Options, Outstanding at beginning of period">566,645</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zRrEUPyqxF9d" style="width: 11%; text-align: right" title="Weighted Average Exercise Price - Options, Outstanding at beginning of period">88.39</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"><span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230401__20240331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zfw3evrr2Fr4" title="Weighted Average Remaining Contractual Life - Options">8.0</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zylzEpHSyxIi" style="width: 11%; text-align: right" title="Aggregate Intrinsic Value, Outstanding at beginning of period">760</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zoGAg1pOcH3b" style="text-align: right" title="Number of Options Outstanding, Granted">227,550</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zRupONoHugJj" style="text-align: right" title="Weighted Average Exercise Price - Options, Granted">6.06</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zquTALQYQDWd" style="text-align: right" title="Number of Options Outstanding, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1145">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zVGjiqWEuihd" style="text-align: right" title="Weighted Average Exercise Price - Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1147">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zLvDY8NIKuYd" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Outstanding, Forfeited">(54,976</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zVt55UyXj6sf" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price - Options, Forfeited">61.74</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Options outstanding as of March 31, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zNHc46gRgZF3" style="text-align: right" title="Number of Options, Outstanding at beginning of period">739,219</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zAkxzGO3xqE7" style="text-align: right" title="Weighted Average Exercise Price - Options, Outstanding at beginning of period">9.34</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zRMUh8b5pHG5" title="Weighted Average Remaining Contractual Life - Options, Outstanding at beginning of period">7.9</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zdQWrl0Ptc3c" style="text-align: right" title="Aggregate Intrinsic Value, Outstanding at beginning of period"><span style="-sec-ix-hidden: xdx2ixbrl1159">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zb0DsRAuUdI1" style="text-align: right" title="Number of Options Outstanding, Granted">94,800</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zKPnzEy7Uty3" style="text-align: right" title="Weighted Average Exercise Price - Options, Granted">0.92</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zuv9Dih4ZqF3" style="text-align: right" title="Number of Options Outstanding, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1165">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zdBZ78oloXib" style="text-align: right" title="Weighted Average Exercise Price - Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1167">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_z63B4wYthsHf" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Outstanding, Forfeited">(77,270</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zMHfWM2AW9B2" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price - Options, Forfeited">1.95</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zcVHxVYaJAw2" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding at ending of period">756,749</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_z28O37ZACZJ8" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price - Options, Outstanding at ending of period">1.82</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zSybYciOzyp5" title="Weighted Average Remaining Contractual Life - Options, Outstanding at end of period">7.2</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zjffWXBkOv75" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Outstanding at end of period"><span style="-sec-ix-hidden: xdx2ixbrl1179">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable as of March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zcU09AUzmzRi" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options Outstanding, Exercisable">497,591</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zZWvfCXaIUQ4" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price - Options, Exercisable">1.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zc3N8Wp4PdLi" title="Weighted Average Remaining Contractual Life - Options, Exercisable">6.3</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_c20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zONx7x7i0Pkc" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Exercisable"><span style="-sec-ix-hidden: xdx2ixbrl1187">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A4_zupB4LrDc0Sj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, the Company had unrecognized stock-based compensation expense for the stock options in the 2013 BA Plan of approximately $<span id="xdx_90E_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn5n6_c20260331__us-gaap--PlanNameAxis__custom--TwoThousandThirteenEquityIncentivePlanMember_zsRiif8TSjNi" title="Unrecognized stock-based compensation expense">1.7</span> million which is expected to be expensed over the weighted average remaining service period of <span id="xdx_906_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandThirteenEquityIncentivePlanMember_zcKNzMhoHNuf" title="Weighted average remaining service period">1.7 </span>years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended March 31, 2026 and March 31, 2025, the weighted average fair value of options granted was $<span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zlpLvLlXYavi" title="Weighted average fair value of options granted">0.80</span> and $<span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zcGG23degHWi" title="Weighted average fair value of options granted">5.03</span> per share, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 27, 2026, the Company executed a Separation and Release of Claims Agreement with the former CEO, Steven Lisi (“Release Agreement”). All unvested options held by Mr. Lisi as of March 27, 2026, were accelerated and immediately vested, and remain exercisable for twenty-four months from March 27, 2026. The Company recorded $<span id="xdx_907_eus-gaap--ShareBasedCompensation_pn5n6_c20260327__20260327_zecRCsZ4qK47" title="Share compensation expense">0.1</span> million of non-cash stock compensation expense reflecting the acceleration of expense recognition of these equity awards.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 4, 2025, the Company’s Board of Directors approved a stock option repricing of <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_pid_c20251104__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z9IOg0ad5b4j" title="Option repricing">726,618</span> options (the “2026 Option Repricing”), effective November 4, 2025. The 2026 Option Repricing was undertaken in accordance with, and as permitted by, the Company’s 2013 BA Plan. Pursuant to the 2026 Option Repricing, all options granted pursuant to the 2013 BA Plan that are held by Company Board members, officers, and employees expected to continue providing services to the Company were repriced, to the extent such options had an exercise price in excess of $<span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecreaseWeightedAverageExercisePrice_pid_c20251104__20251104__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__srt--RangeAxis__srt--MinimumMember_zupOm3WT8XFl" title="Exercise price in excess">1.95</span>, the closing price per share of the Company’s common stock as reported on The Nasdaq Stock Market on November 3, 2025. All such options were repriced such that the exercise price per share was reduced to $<span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecreaseWeightedAverageExercisePrice_pid_c20251104__20251104__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__srt--RangeAxis__srt--MinimumMember_zqtMWmaGajge" title="Exercise price in excess">1.95</span>. The modification resulted in incremental stock compensation expense of $<span id="xdx_90E_eus-gaap--EmployeeStockOwnershipPlanESOPCompensationExpense_pn5n6_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zwJ4LKvwi23j" title="Incremental stock compensation expense">0.3</span> million recognized during the year ended March 31, 2026. There is approximately $<span id="xdx_906_eus-gaap--EmployeeStockOwnershipPlanESOPCompensationExpense_pn5n6_c20250401__20251231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zv2zFyzwkV2i" title="Incremental stock compensation expense">0.1</span> million of unrecognized stock-based compensation expense for the 2026 Option Repricing which is expected to be expensed over the weighted average remaining service period of <span id="xdx_905_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z8GgcLZxmMqi" title="Weighted average remaining service, period">1.5</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 22, 2024, the Company’s Board of Directors approved a stock option repricing (“2025 Option Repricing”), effective November 22, 2024 (“Effective Date”). The 2025 Option Repricing was undertaken in accordance with, and as permitted by, the Company’s Amended 2013 Plan. Pursuant to the 2025 Option Repricing, all options granted pursuant to the Amended 2013 Plan that are held by Company Board members, officers, and employees expected to continue providing services to the Company were repriced, to the extent such options had an exercise price in excess of $<span id="xdx_905_eus-gaap--StockOptionExercisePriceIncrease_c20241122__20241122__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyFiveOptionRepricingMember_z0rsuvyTo3o7" title="Option exercise price">10.80</span>, the closing price per share of the Common Stock as reported on The Nasdaq Stock Market on November 22, 2024. As of the Effective Date, all such options were repriced such that the exercise price per share was reduced to $<span id="xdx_90E_eus-gaap--StockOptionExercisePriceIncrease_c20241122__20241122__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyFiveOptionRepricingMember_zsObHSdTdk2g" title="Option exercise price">10.80</span>. The modification resulted in incremental stock compensation expense of $<span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_pn5n6_c20250401__20260331__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyFiveOptionRepricingMember_zDDutejXQDq6" title="Stock based compensation">0.3</span> million and $<span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_pn5n6_c20240401__20250331__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyFiveOptionRepricingMember_zfvgpZ0uQEsf" title="Stock based compensation">1.6</span> million recognized during the years ended March 31, 2026 and March 31, 2025, respectively. There is approximately $<span id="xdx_90D_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn5n6_c20260331__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyFiveOptionRepricingMember_zAOkbh72vTs6" title="Unrecognized share based compensation">0.1</span> million of unrecognized stock-based compensation expense for the 2025 Option Repricing which is expected to be expensed over the weighted average remaining service period of <span id="xdx_90D_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20250401__20260331__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyFiveOptionRepricingMember_zvv4n4uVfeua" title="Weighted average remaining service, period">1.0</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 4 STOCKHOLDERS’ EQUITY (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s 2021 Beyond Cancer Ltd. Equity Incentive Plan (the “2021 BC Plan”) allows for awards to officers, directors, employees, and consultants of stock options, restricted stock units and restricted shares of Beyond Cancer Ltd.’s common stock. The vesting terms of the options issued under the 2021 BC Plan are generally <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dc_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zLWQXUFSoA44" title="Vesting period">four years</span> and they expire <span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_dc_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_ze5Wci8JlHvg" title="Expiration period">ten years</span> from the grant date. On November 3, 2022, the Company’s Board of Directors approved an amendment to reserve for issuance an additional <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized_pid_c20221103__20221103__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_z8RMuCVDnyid" title="Number of additionl shares reserve for issuance">2,000,000</span> shares of common stock. The 2021 BC Plan has <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20221103__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zWjat4ZfK3Kc" title="Number of shares authorized for issuance">4,000,000</span> shares authorized for issuance. As of March 31, 2026, <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_ztc8XZqE76fb" title="Number of shares available for grant">1,745,500</span> shares were available under the 2021 BC Plan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_hus-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zIGS8sGiUi2b" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the change in stock options for Beyond Cancer for the years ended March 31, 2026 and March 31, 2025 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BC_zfNCVrREUPoa" style="display: none">SCHEDULE OF OPTION ACTIVITY FOR BEYOND CANCER</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Of</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exercise</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Price–-</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Remaining</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contractual</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Life- </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Aggregate</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Intrinsic</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Value</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(thousands)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Options outstanding as of March 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zltD0lFKYr29" style="width: 11%; text-align: right" title="Number of Options, Outstanding at beginning of period">3,819,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zPStOfDJJPha" style="width: 11%; text-align: right" title="Weighted Average Exercise Price of Options, Outstanding at beginning of period">5.50</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230401__20240331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zC49XGIPXeB4" title="Weighted average remaining contractual life - options, outstanding at beginning of period">8.3</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zQkQLohCA7H2" style="width: 11%; text-align: right" title="Aggregate Intrinsic Value, Outstanding at beginning of period">                   <span style="-sec-ix-hidden: xdx2ixbrl1241">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_z9HQ10n1f8q1" style="text-align: right" title="Number of Options, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1243">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zXJCIIyEQqsi" style="text-align: right" title="Weighted Average Exercise Price of Options, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1245">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_pid_di_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zltdWXYxbUwe" style="text-align: right" title="Number of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1247">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zlfL50p2nf13" style="text-align: right" title="Weighted Average Exercise Price of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1249">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zJVpcZOWGyt5" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Forfeited">(1,002,750</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zAOoFNdvqLue" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price of Options, Forfeited">5.50</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Options outstanding as of March 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zXK1Ydo1CHvg" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding at beginning of period">2,816,250</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_ziyVB8iwOtZ9" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price of Options, Outstanding at beginning of period">5.50</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zXJXgcJK8rt6" title="Weighted average remaining contractual life - options, outstanding at beginning of period">7.2</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zxp6GCLrGnW5" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Outstanding at beginning of period"><span style="-sec-ix-hidden: xdx2ixbrl1261">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zlzImYg5etR9" style="text-align: right" title="Number of Options, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1263">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zZDm8lqi3LR7" style="text-align: right" title="Weighted Average Exercise Price of Options, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1265">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_pid_di_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zoq5ry3qY7ag" style="text-align: right" title="Number of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1267">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zD5GzidrBIub" style="text-align: right" title="Weighted Average Exercise Price of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1269">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zBUKt3EcL5bd" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Forfeited">(561,750</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_z3mQDWmOLBU7" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price of Options, Forfeited">5.50</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_z5dckoFlZlg9" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding at ending of period">2,254,500</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zyCXarkEuvMa" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price of Options, Outstanding at ending of period">5.50</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zIckJ2fTos8i" title="Weighted average remaining contractual life - options, outstanding at beginning of period">6.2</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zqkBxlY4doP" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, outstanding at end of period"><span style="-sec-ix-hidden: xdx2ixbrl1281">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable as of March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zBQOTMmBnKuh" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options Outstanding, Exercisable">1,975,750</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zBInmxPusKql" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price of Options, Exercisable">5.50</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zC6JnOcvBVvk" title="Weighted Average Remaining Contractual Life of Options, Exercisable">6.1</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_c20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zmg18381u15a" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Exercisable"><span style="-sec-ix-hidden: xdx2ixbrl1289">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A1_zpuVNGb6PPE6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, the Company had unrecognized stock-based compensation expense for the stock options in the 2021 BC Plan of approximately $<span id="xdx_902_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_pn5n6_c20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zNY33knzW7lc" title="Unrecognized stock-based compensation expense">0.4</span> million which is expected to be expensed over the weighted average remaining service period of <span id="xdx_909_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zcvrBj2eEqGi" title="Weighted average remaining service period">1.0</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s 2023 NeuroNos Ltd. Equity Incentive Plan (the “2023 NNOS Plan”) allows for awards to officers, directors, employees, and consultants of stock options, restricted stock units and restricted shares of NeuroNos Ltd.’s common stock. The vesting terms of the options issued under the 2023 NNOS Plan are generally four years and they expire ten years from the grant date. On March 31, 2025, the Company’s Board of Directors approved to reserve for issuance <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zBNAjntTRQ85" title="Stock option shares authorized for issuance">1,725,000</span> shares of common stock. As of March 31, 2026, <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zFZlWNrsgHt" title="Number of shares available for grant">465,670</span> shares were available under the 2023 NNOS Plan.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_hus-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zh9GKH4NRrL3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the change in stock options for NeuroNos for the years ended March 31, 2026 and March 31, 2025 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zzqGzZlZI6Se">SCHEDULE OF OPTION ACTIVITY FOR NEURONOS</span> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Of</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exercise</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Price–-</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Remaining</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contractual</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Life- </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Aggregate</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Intrinsic</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Value</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(thousands)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Options outstanding as of March 31, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zzh1y1MycSpa" style="text-align: right" title="Number of Options, Outstanding at beginning of period"><span style="-sec-ix-hidden: xdx2ixbrl1301">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zePHo2mON8Nk" style="text-align: right" title="Weighted Average Exercise Price of Options, Outstanding at beginning of period"><span style="-sec-ix-hidden: xdx2ixbrl1303">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zRuWKHUO1Mxc" style="text-align: right" title="Aggregate Intrinsic Value, Outstanding at beginning of period"><span style="-sec-ix-hidden: xdx2ixbrl1305">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zKXJyXen5OXc" style="width: 11%; text-align: right" title="Number of Options, Granted">1,224,139</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_z3HPlgV7lHh9" style="width: 11%; text-align: right" title="Weighted Average Exercise Price of Options, Granted">0.14</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_pid_di_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zBGUDjzUIFMg" style="text-align: right" title="Number of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1311">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zYMwGOOXRvJi" style="text-align: right" title="Weighted Average Exercise Price of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1313">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zapFoZDRg2ni" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Forfeited"><span style="-sec-ix-hidden: xdx2ixbrl1315">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zEolIhcf8rt8" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price - options, forfeited"><span style="-sec-ix-hidden: xdx2ixbrl1317">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Options outstanding as of March 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zgHjMFZpIVri" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding at beginning of period">1,224,139</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zqTaYDZ2V9xf" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price of Options, Outstanding at beginning of period">0.14</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zzFD91herDCk" title="Weighted average remaining contractual life - options, outstanding at beginning of period">9.1</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_za87e7pYMJwa" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Outstanding at beginning of period">3,501</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_z5YWYvHEN6g1" style="text-align: right" title="Number of Options, Granted">169,913</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_ziEsb2HyfQW3" style="text-align: right" title="Weighted Average Exercise Price of Options, Granted">3.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_pid_di_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zecF9JIVa7hf" style="text-align: right" title="Number of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1331">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_z3K6NYELNkK4" style="text-align: right" title="Weighted Average Exercise Price of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1333">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zCx9aDsAiMYh" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Forfeited">(134,723</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zRDQ9XILrgp" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price - options, forfeited">2.82</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zfEaOkfKvcG1" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding at ending of period">1,259,329</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zx5hb3vD5vla" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price of Options, Outstanding at ending of period">0.24</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zhz8aKY5TdIa" title="Weighted Average Remaining Contractual Life of Options, Outstanding">8.1</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_znqU4pApiRS8" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Outstanding at ending of period">3,477</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable as of March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zCGea6Lpnox2" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options Outstanding, Exercisable">622,341</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zNIF39u3q2A1" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price of Options, Exercisable">0.19</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zLCSAYm36C8j" title="Weighted Average Remaining Contractual Life of Options, Exercisable">8.1</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_c20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_znZ7QXjs68d9" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Exercisable">1,748</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AF_zVs91w4EOC65" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2025, the Company had unrecognized stock-based compensation expense for the stock options in the 2023 NNOS Plan of approximately $<span id="xdx_903_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_pn5n6_c20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zagRgEKWfWx7" title="Unrecognized stock-based compensation expense">0.1</span> million which is expected to be expensed over the weighted average remaining service period of <span id="xdx_90E_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_ze9eKe5Zg4K6" title="Weighted average remaining service period">1.5</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended March 31, 2026 and March 31, 2025, the weighted average fair value of options granted was $<span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_z4oMCTJiTphg" title="Weighted average fair value of options">2.38</span> and $<span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_z4dSNfx9BgQ" title="Weighted average fair value of options">0.11</span> per share, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 4 STOCKHOLDERS’ EQUITY (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_znuBCNu7JmO5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following was utilized to calculate the fair value of options on the date of grant:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_z5l5Hkq90oM9" style="display: none">SCHEDULE OF FAIR VALUE OF OPTION</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk -free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20250401__20260331__srt--RangeAxis__srt--MinimumMember_ztqHuUTMVkU6" title="Risk-free interest rate">3.7</span>-<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20250401__20260331__srt--RangeAxis__srt--MaximumMember_z5Weo3qWwYK6" title="Risk-free interest rate">4.2</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240401__20250331__srt--RangeAxis__srt--MinimumMember_zOk3WASdJaOc" title="Risk-free interest rate">3.6</span>-<span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240401__20250331__srt--RangeAxis__srt--MaximumMember_zD0V6CXOeHYk" title="Risk-free interest rate">4.4</span></span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility (Beyond Air)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20250401__20260331__dei--LegalEntityAxis__custom--BeyondAirIncMember__srt--RangeAxis__srt--MinimumMember_zV4T83F0opSe" title="Expected volatility">91.6</span>-<span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20250401__20260331__dei--LegalEntityAxis__custom--BeyondAirIncMember__srt--RangeAxis__srt--MaximumMember_z8EHPpW1UOH2" title="Expected volatility">106.2</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240401__20250331__dei--LegalEntityAxis__custom--BeyondAirIncMember__srt--RangeAxis__srt--MinimumMember_z8BzrqrUvkL6" title="Expected volatility">83.6</span>-<span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240401__20250331__dei--LegalEntityAxis__custom--BeyondAirIncMember__srt--RangeAxis__srt--MaximumMember_z8rmUTALNZgf" title="Expected volatility">89.9</span></span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected volatility (Beyond Cancer)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20250401__20260331__dei--LegalEntityAxis__custom--BeyondCancerLtdMember_zl2io9hAH0Rl" title="Expected volatility">N/A</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240401__20250331__dei--LegalEntityAxis__custom--BeyondCancerLtdMember_zaRevvw1K9Bc" title="Expected volatility">N/A</span></span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Expected volatility (NeuroNos)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20250401__20260331__dei--LegalEntityAxis__custom--NeuroNosLtdMember_zVJpALKf2QR1" title="Expected volatility">95.0</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240401__20250331__dei--LegalEntityAxis__custom--NeuroNosLtdMember_zJibdoGTAv21" title="Expected volatility">95.0</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20250401__20260331_zYE7J99l4Uc7" title="Dividend yield">0</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20240401__20250331_zh1kgth8vmC5" title="Dividend yield">0</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected terms (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250401__20260331_zXpIeUoRAko2" title="Expected term (in years)">6.25</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240401__20250331_zh1VdwzsZHpd" title="Expected term (in years)">6.25</span></td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AC_zoeQvMI5zFue" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company determined that the fair value per share of NeuroNos’ common stock to be $<span id="xdx_902_eus-gaap--SharePrice_iI_c20250331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--BeyondCancerLtdMember__srt--RangeAxis__srt--MinimumMember_zxB9DeC3pbbe" title="Fair value per share">0.14</span> at the grant date during the year ended March 31, 2025 based on a third-party valuation, and to be $<span id="xdx_905_eus-gaap--SharePrice_iI_c20260331__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--BeyondCancerLtdMember__srt--RangeAxis__srt--MinimumMember_zFL8ZWaYAvEg" title="Fair value per share">3.00</span> at the grant date during the year ended March 31, 2026 based on the valuation of common stock purchased by external investors during the fiscal year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--ScheduleOfShareBasedCompensationActivityTableTextBlock_zC0pH738OJH8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following summarizes the components of stock-based compensation expense which included stock options and restricted stock for the years ended March 31, 2026 and March 31, 2025 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zEz0Aj0KcgYk" style="display: none">SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250401__20260331_zq7dXjpYPMUl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240401__20250331_zveT734dr9Ck" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40B_eus-gaap--ShareBasedCompensation_pn3n3_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--ResearchAndDevelopmentExpense_zphXUEaGZq5c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,153</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">471</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ShareBasedCompensation_pn3n3_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--GeneralAndAdministrativeExpense_zRBl1sXybtyd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,129</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,675</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ShareBasedCompensation_pn3n3_z3LePV7u1DXh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total stock-based compensation expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,282</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,146</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zfF4diNi9jN3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Warrants</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 8, 2025, the Company entered into an inducement offer letter agreement (“Inducement Letter”) with certain holders of the September 2024 equity offering common stock warrants (“Existing Warrants”). Pursuant to the Inducement Letter, such holders immediately exercised some of all of their respective outstanding Existing Warrants to purchase up to an aggregate of <span id="xdx_904_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20250908__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zCWggDhRYsrf" title=" Warrants to purchase">1,439,128</span> shares of common stock at a reduced exercise price of $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250908__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zXRCVt4TGSg4" title="Warrants exercise price">2.21</span>. The proceeds to the Company from the exercise of the Existing Warrants were approximately $<span id="xdx_904_eus-gaap--ProceedsFromWarrantExercises_pn5n6_c20250908__20250908__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zcY3l8xsTcV3" title="Warrants Exercise">2.9</span> million, net of placement agent fees and other offering expenses of $<span id="xdx_900_eus-gaap--PaymentsForFees_pn5n6_c20250908__20250908__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zOBFXVVzcqni" title="Other fees">0.2</span> million and $<span id="xdx_906_eus-gaap--DeferredCostsCurrent_iI_pn5n6_c20250908__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zhPEtRmUtj17" title="Other fees">0.1</span> million, respectively. In consideration of the inducement offer, the Company issued new common stock warrants to purchase up to <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250908__20250908__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zTNLVz8hWp3c" title="Stock issues during the period, shares">719,562</span> shares of common stock for a purchase price of $<span id="xdx_901_eus-gaap--WarrantExercisePriceIncrease_c20250908__20250908__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zBCIjLgWKzq6" title="Warrant exercise price">0.125</span> per share of common stock underlying the new warrant. The new warrants have an exercise price of $<span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250908__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z29sbL2ZXUv9" title="Warrant exercise price">2.21</span> per share and are immediately exercisable, with a term of <span id="xdx_90C_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20250908__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zcd4mUbteaX7" title="Weighted average remaining service period">five years</span> from the issuance date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 3, 2025, warrants to purchase up to an aggregate of <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20251103__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--TypeOfArrangementAxis__custom--AmendedLoanAgreementMember_zpsuzE1mXdri" title="Warrants to purchase">512,821</span> of Company common stock were issued as part of the Amended Loan Agreement with certain lenders including its director Robert Carey at an exercise price of $<span id="xdx_903_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20251103__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--TypeOfArrangementAxis__custom--AmendedLoanAgreementMember_zJrg5qzIF9O9" title="Warrants price">1.95</span> per common stock warrant.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 16, 2026, warrants to purchase up to an aggregate of <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260116__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zSBViBSPGM7f" title="Warrants to purchase">3,930,818</span> of Company common stock were issued to certain institutional investors at an exercise price of $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260116__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zJVtliP4DcM" title="Warrants price">1.147</span> per common stock warrant. The warrant exercise price was calculated at the 5-trading day average closing share price as of January 13, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 16, 2026, pre-funded warrants to purchase up to <span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260116__us-gaap--StatementEquityComponentsAxis__custom--TwoThousandTwentySixPreFundedWarrantsMember_z4FMmTJtfNxl" title="Warrants to purchase">3,405,828 </span>of Company common stock were issued to certain institutional investors at an exercise price of $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20260116__us-gaap--StatementEquityComponentsAxis__custom--TwoThousandTwentySixPreFundedWarrantsMember_zAvFRcAkgBal" title="Warrants price">0.0001</span> per common stock warrant. During the year ended March 31, 2026, holders exercised <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesOther_c20250116__20250116__us-gaap--StatementEquityComponentsAxis__custom--TwoThousandTwentySixPreFundedWarrantsMember_zOYbEb15o8a8" title="Stock issued during the period, shares">1,263,215</span> of these 2026 Pre-Funded Warrants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zVuaGqiwngbe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the Company’s outstanding warrants as of March 31, 2026 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_znadyXZOO54l" style="display: none">SUMMARY OF OUTSTANDING WARRANTS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Warrant Holders</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number of</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Warrants</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exercise</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Price</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Intrinsic Value</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(in thousands)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Date of</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Expiration</b></span></p></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: justify">NitricGen agreement</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--NitricGenAgreementMember_z4kShwuooEzd" style="width: 11%; text-align: right" title="Number of Warrants">4,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--NitricGenAgreementMember_zrrfqWfjyFs9" style="width: 11%; text-align: right" title="Exercise Price">138.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--NitricGenAgreementMember_z82UsnuOhuai" style="width: 11%; text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1450">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 17%; text-align: center"><span id="xdx_90B_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--NitricGenAgreementMember_z67dCquqcvBe" title="Date of Expiration">January 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Avenue agreement</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--AvenueAgreementMember_z3qE4BXpSG88" style="text-align: right" title="Number of Warrants">11,693</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--AvenueAgreementMember_zE1o60N5QRK3" style="text-align: right" title="Exercise Price">7.59</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--AvenueAgreementMember_zYBi17WHaRG6" style="text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1458">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_902_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--AvenueAgreementMember_zV23M8znsHYj" title="Date of Expiration">June 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">March 2024 raise</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--MarchTwoThousandTwentyFourRaiseMember_zw5FeoLMNUkg" style="text-align: right" title="Number of Warrants">481,936</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--MarchTwoThousandTwentyFourRaiseMember_zvFMa9PYPi5" style="text-align: right" title="Exercise Price">45.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--MarchTwoThousandTwentyFourRaiseMember_z4lkHpV5luNi" style="text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1466">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90F_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--MarchTwoThousandTwentyFourRaiseMember_zLdjKKNcg7hk" title="Date of Expiration">March 2027</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Avenue extension agreement</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--AvenueExtensionAgreementMember_zPAZzCg5Omcj" style="text-align: right" title="Number of Warrants">5,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--AvenueExtensionAgreementMember_zcfOWm9cqmn5" style="text-align: right" title="Exercise Price">25.60</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--AvenueExtensionAgreementMember_zx4ik2vBNlC5" style="text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1474">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_909_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--AvenueExtensionAgreementMember_zwt1QWSGlGCl" title="Date of Expiration">June 2029</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">September 2024 equity offering</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFourEquityOfferingMember_zP5rs7vYn62b" style="text-align: right" title="Number of Warrants">555,229</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFourEquityOfferingMember_z8gTZM698Bt8" style="text-align: right" title="Exercise Price">7.59</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFourEquityOfferingMember_zeKM7h9fB06" style="text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1482">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_905_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFourEquityOfferingMember_zmGsa4tmgTH2" title="Date of Expiration">September 2029</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">September 2024 debt instrument</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFourDebtInstrumentMember_zFkIDRzrQlDh" style="text-align: right" title="Number of Warrants">1,270,796</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFourDebtInstrumentMember_zicWS367XVkj" style="text-align: right" title="Exercise Price">1.95</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFourDebtInstrumentMember_zvtoJXRSuLOc" style="text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1490">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_902_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFourDebtInstrumentMember_zKYCGJ3Wszh7" title="Date of Expiration">September 2029 / November 2030</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">September 2025 inducement</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFiveInducementMember_zrk8L3PstUP1" style="text-align: right" title="Number of Warrants">719,562</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFiveInducementMember_zcTuX5vJXQ04" style="text-align: right" title="Exercise Price">2.21</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFiveInducementMember_zJ9gj1dntk87" style="text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1498">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90D_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFiveInducementMember_zTonXyrH1eCj" title="Date of Expiration">September 2030</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">January 2026 equity offering</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--JanuaryTwoThousandTwentySixEquityOfferingMember_zMqAK5J6CSs3" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Warrants">3,930,818</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--JanuaryTwoThousandTwentySixEquityOfferingMember_zUXDNfH4EXAj" style="border-bottom: Black 1pt solid; text-align: right" title="Exercise Price">1.147</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--JanuaryTwoThousandTwentySixEquityOfferingMember_z5zH5sGpVSNl" style="border-bottom: Black 1pt solid; text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1506">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><span id="xdx_902_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--JanuaryTwoThousandTwentySixEquityOfferingMember_zReAqHOnTIq8" title="Date of Expiration">January 2031</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Subtotal</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SubTotalMember_zpqKgoG7zFA3" style="text-align: right" title="Number of Warrants">6,979,034</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SubTotalMember_zRyE1w5e87e4" style="text-align: right" title="Exercise Price">5.05</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SubTotalMember_zpF3Vh78GCg2" style="text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1514">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Pre-funded warrants (Sep-2024 offering)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--PreFundedWarrantsSepTwoThousandTwentyFourMember_ziNtUpjIizjh" style="text-align: right" title="Number of Warrants">220,006</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--PreFundedWarrantsSepTwoThousandTwentyFourMember_zut3bvqrXnz9" style="text-align: right" title="Exercise Price">0.002</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--PreFundedWarrantsSepTwoThousandTwentyFourMember_ziio5DBdmHZj" style="text-align: right" title="Intrinsic Value">151</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_909_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--PreFundedWarrantsSepTwoThousandTwentyFourMember_zTe4TE5Bfixi" title="Date of Expiration">September 2029</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Pre-funded warrants (Jan-2026 offering)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--PreFundedWarrantsJanTwoThousandTwentySixMember_zTM446FKRBO9" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Warrants">2,142,613</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--PreFundedWarrantsJanTwoThousandTwentySixMember_zzgI25s9Rhc1" style="border-bottom: Black 1pt solid; text-align: right" title="Exercise Price">0.0001</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98C_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--PreFundedWarrantsJanTwoThousandTwentySixMember_zzhhUwr98aWk" style="border-bottom: Black 1pt solid; text-align: right" title="Intrinsic Value">1,479</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><span id="xdx_901_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--PreFundedWarrantsJanTwoThousandTwentySixMember_zTy0FS3fMkb9" title="Date of Expiration">January 2031</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331_zDKoi3QCk5ye" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Warrants">9,341,653</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331_zGE9blo9TObb" style="border-bottom: Black 2.5pt double; text-align: right" title="Exercise Price">3.773</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331_zsRu6JJ5ajh5" style="border-bottom: Black 2.5pt double; text-align: right" title="Intrinsic Value">1,630</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </td></tr> </table> <p id="xdx_8AC_zCs78da6MJB5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>ESPP</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 4, 2021, the stockholders approved the 2021 Employee Stock Purchase Plan (“ESPP”). The purpose of the ESPP is to encourage and to enable eligible employees of the Company, through after-tax payroll deductions, to acquire proprietary interests in the Company through the purchase and ownership of shares of Stock. The ESPP is intended to benefit the Company and its stockholders by (a) incentivizing participants to contribute to the success of the Company and to operate and manage the Company’s business in a manner that will provide for the Company’s long-term growth and profitability and that will benefit its stockholders and other important stakeholders and (b) encouraging participants to remain in the employ of the Company. As of March 31, 2026 and March 31, 2025, <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_do_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneEmployeeStockPurchasePlanMember_zTKJ4Bf4f9Lc" title="Number of shares issued"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_do_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneEmployeeStockPurchasePlanMember_zXsTm3f4PXRl" title="Number of shares issued">no</span></span> shares were issued under the ESPP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 35000000.0 0.025 75000000.0 75000000.0 8100000 2441775 2100000 337100 20000000 1600000 1600000 2.09 3300000 25000 0.0499 524990 3405828 3930818 1.272 1.272 1.2719 5000000.0 0.0001 1.147 4500000 300000 200000 850000 1680000 894276 P5Y <p id="xdx_899_eus-gaap--ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock_zLPikjit4Xa2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the Company’s restricted stock unit awards for the years ended March 31, 2026 and March 31, 2025 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BD_zExED22KtKVf" style="display: none">SCHEDULE OF RESTRICTED STOCK AWARDS</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number Of</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shares</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average Grant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Date Fair </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Value</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Unvested as of March 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z6MuNpET45r8" style="width: 16%; text-align: right" title="Unvested Number of Shares, Beginning balance">30,945</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zB0SKhNOdUK3" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value, Beginning balance">139.60</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zzCJpLPJ4tW7" style="text-align: right" title="Number of Shares, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1087">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zW9veaMoeSR8" style="text-align: right" title="Weighted Average Grant Date Fair Value, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1089">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zMg8cv71H9Og" style="text-align: right" title="Number of Shares, Vested">(12,240</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zbnKrhCW15E" style="text-align: right" title="Weighted Average Grant Date Fair Value, Vested">137.20</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zkc6cTHzSkZ2" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares, Forfeited">(440</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240401__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zjoEnOhgqtnl" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, Forfeited">229.60</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Unvested as of March 31, 2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zeg4dH5hz1Ul" style="border-bottom: Black 1pt solid; text-align: right" title="Unvested Number of Shares, Beginning balance">18,265</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z1iho2up2q8b" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, Beginning balance">139.40</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zlnBw6qwW5lf" style="text-align: right" title="Number of Shares, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1103">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zroJU2kT7Eq8" style="text-align: right" title="Weighted Average Grant Date Fair Value, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1105">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zB3PfQsrwQCg" style="text-align: right" title="Number of Shares, Vested">(8,630</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zjrLsw2vGFIe" style="text-align: right" title="Weighted Average Grant Date Fair Value, Vested">150.26</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zacVs3383fwl" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares, Forfeited">(150</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zhQ6nv5gB0rg" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, Forfeited">137.40</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Unvested as of March 31, 2026</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zx0uM3ife9Ta" style="border-bottom: Black 1pt solid; text-align: right" title="Unvested Number of Shares, Ending balance">9,485</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20250401__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zyzVzIbf5x27" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value, ending balance">129.41</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 30945 139.60 12240 137.20 440 229.60 18265 139.40 8630 150.26 150 137.40 9485 129.41 500000 1000000.0 300000 P1Y P4Y P10Y <p id="xdx_89F_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_hus-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zcILgvnqjbS4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the change in stock options for the years ended March 31, 2026 and March 31, 2025 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BD_zPMO2ul4ry35" style="display: none">SCHEDULE OF OPTION ACTIVITY</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Of</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exercise</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Price–-</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Remaining</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contractual</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Life- </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Aggregate</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Intrinsic</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Value</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(thousands)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Options outstanding as of March 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zDIuTD1HmBn" style="width: 11%; text-align: right" title="Number of Options, Outstanding at beginning of period">566,645</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zRrEUPyqxF9d" style="width: 11%; text-align: right" title="Weighted Average Exercise Price - Options, Outstanding at beginning of period">88.39</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"><span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230401__20240331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zfw3evrr2Fr4" title="Weighted Average Remaining Contractual Life - Options">8.0</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zylzEpHSyxIi" style="width: 11%; text-align: right" title="Aggregate Intrinsic Value, Outstanding at beginning of period">760</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zoGAg1pOcH3b" style="text-align: right" title="Number of Options Outstanding, Granted">227,550</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zRupONoHugJj" style="text-align: right" title="Weighted Average Exercise Price - Options, Granted">6.06</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zquTALQYQDWd" style="text-align: right" title="Number of Options Outstanding, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1145">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zVGjiqWEuihd" style="text-align: right" title="Weighted Average Exercise Price - Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1147">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zLvDY8NIKuYd" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Outstanding, Forfeited">(54,976</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zVt55UyXj6sf" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price - Options, Forfeited">61.74</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Options outstanding as of March 31, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zNHc46gRgZF3" style="text-align: right" title="Number of Options, Outstanding at beginning of period">739,219</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zAkxzGO3xqE7" style="text-align: right" title="Weighted Average Exercise Price - Options, Outstanding at beginning of period">9.34</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zRMUh8b5pHG5" title="Weighted Average Remaining Contractual Life - Options, Outstanding at beginning of period">7.9</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zdQWrl0Ptc3c" style="text-align: right" title="Aggregate Intrinsic Value, Outstanding at beginning of period"><span style="-sec-ix-hidden: xdx2ixbrl1159">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zb0DsRAuUdI1" style="text-align: right" title="Number of Options Outstanding, Granted">94,800</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zKPnzEy7Uty3" style="text-align: right" title="Weighted Average Exercise Price - Options, Granted">0.92</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zuv9Dih4ZqF3" style="text-align: right" title="Number of Options Outstanding, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1165">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zdBZ78oloXib" style="text-align: right" title="Weighted Average Exercise Price - Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1167">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_z63B4wYthsHf" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options Outstanding, Forfeited">(77,270</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zMHfWM2AW9B2" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price - Options, Forfeited">1.95</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zcVHxVYaJAw2" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding at ending of period">756,749</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_z28O37ZACZJ8" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price - Options, Outstanding at ending of period">1.82</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zSybYciOzyp5" title="Weighted Average Remaining Contractual Life - Options, Outstanding at end of period">7.2</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zjffWXBkOv75" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Outstanding at end of period"><span style="-sec-ix-hidden: xdx2ixbrl1179">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable as of March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zcU09AUzmzRi" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options Outstanding, Exercisable">497,591</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zZWvfCXaIUQ4" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price - Options, Exercisable">1.95</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zc3N8Wp4PdLi" title="Weighted Average Remaining Contractual Life - Options, Exercisable">6.3</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_c20260331__us-gaap--PlanNameAxis__custom--TwoThousandAndThirteenBeyondAirEquityIncentivePlanMember_zONx7x7i0Pkc" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Exercisable"><span style="-sec-ix-hidden: xdx2ixbrl1187">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 566645 88.39 P8Y 760000 227550 6.06 54976 61.74 739219 9.34 P7Y10M24D 94800 0.92 77270 1.95 756749 1.82 P7Y2M12D 497591 1.95 P6Y3M18D 1700000 P1Y8M12D 0.80 5.03 100000 726618 1.95 1.95 300000 100000 P1Y6M 10.80 10.80 300000 1600000 100000 P1Y P4Y P10Y 2000000 4000000 1745500 <p id="xdx_898_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_hus-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zIGS8sGiUi2b" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the change in stock options for Beyond Cancer for the years ended March 31, 2026 and March 31, 2025 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BC_zfNCVrREUPoa" style="display: none">SCHEDULE OF OPTION ACTIVITY FOR BEYOND CANCER</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Of</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exercise</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Price–-</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Remaining</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contractual</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Life- </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Aggregate</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Intrinsic</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Value</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(thousands)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Options outstanding as of March 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zltD0lFKYr29" style="width: 11%; text-align: right" title="Number of Options, Outstanding at beginning of period">3,819,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zPStOfDJJPha" style="width: 11%; text-align: right" title="Weighted Average Exercise Price of Options, Outstanding at beginning of period">5.50</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230401__20240331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zC49XGIPXeB4" title="Weighted average remaining contractual life - options, outstanding at beginning of period">8.3</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zQkQLohCA7H2" style="width: 11%; text-align: right" title="Aggregate Intrinsic Value, Outstanding at beginning of period">                   <span style="-sec-ix-hidden: xdx2ixbrl1241">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_z9HQ10n1f8q1" style="text-align: right" title="Number of Options, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1243">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zXJCIIyEQqsi" style="text-align: right" title="Weighted Average Exercise Price of Options, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1245">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_pid_di_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zltdWXYxbUwe" style="text-align: right" title="Number of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1247">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zlfL50p2nf13" style="text-align: right" title="Weighted Average Exercise Price of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1249">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zJVpcZOWGyt5" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Forfeited">(1,002,750</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zAOoFNdvqLue" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price of Options, Forfeited">5.50</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Options outstanding as of March 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zXK1Ydo1CHvg" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding at beginning of period">2,816,250</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_ziyVB8iwOtZ9" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price of Options, Outstanding at beginning of period">5.50</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zXJXgcJK8rt6" title="Weighted average remaining contractual life - options, outstanding at beginning of period">7.2</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zxp6GCLrGnW5" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Outstanding at beginning of period"><span style="-sec-ix-hidden: xdx2ixbrl1261">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zlzImYg5etR9" style="text-align: right" title="Number of Options, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1263">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zZDm8lqi3LR7" style="text-align: right" title="Weighted Average Exercise Price of Options, Granted"><span style="-sec-ix-hidden: xdx2ixbrl1265">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_pid_di_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zoq5ry3qY7ag" style="text-align: right" title="Number of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1267">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zD5GzidrBIub" style="text-align: right" title="Weighted Average Exercise Price of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1269">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zBUKt3EcL5bd" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Forfeited">(561,750</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_z3mQDWmOLBU7" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price of Options, Forfeited">5.50</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_z5dckoFlZlg9" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding at ending of period">2,254,500</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zyCXarkEuvMa" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price of Options, Outstanding at ending of period">5.50</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zIckJ2fTos8i" title="Weighted average remaining contractual life - options, outstanding at beginning of period">6.2</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zqkBxlY4doP" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value, outstanding at end of period"><span style="-sec-ix-hidden: xdx2ixbrl1281">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable as of March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zBQOTMmBnKuh" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options Outstanding, Exercisable">1,975,750</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zBInmxPusKql" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price of Options, Exercisable">5.50</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zC6JnOcvBVvk" title="Weighted Average Remaining Contractual Life of Options, Exercisable">6.1</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_c20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyOneBeyondCancerLtdEquityIncentivePlanMember_zmg18381u15a" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Exercisable"><span style="-sec-ix-hidden: xdx2ixbrl1289">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 3819000 5.50 P8Y3M18D 1002750 5.50 2816250 5.50 P7Y2M12D 561750 5.50 2254500 5.50 P6Y2M12D 1975750 5.50 P6Y1M6D 400000 P1Y 1725000 465670 <p id="xdx_892_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_hus-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zh9GKH4NRrL3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the change in stock options for NeuroNos for the years ended March 31, 2026 and March 31, 2025 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zzqGzZlZI6Se">SCHEDULE OF OPTION ACTIVITY FOR NEURONOS</span> </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Of</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exercise</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Price–-</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Weighted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Average</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Remaining</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Contractual</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Life- </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Options</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Aggregate</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Intrinsic</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Value</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(thousands)</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Options outstanding as of March 31, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zzh1y1MycSpa" style="text-align: right" title="Number of Options, Outstanding at beginning of period"><span style="-sec-ix-hidden: xdx2ixbrl1301">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zePHo2mON8Nk" style="text-align: right" title="Weighted Average Exercise Price of Options, Outstanding at beginning of period"><span style="-sec-ix-hidden: xdx2ixbrl1303">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zRuWKHUO1Mxc" style="text-align: right" title="Aggregate Intrinsic Value, Outstanding at beginning of period"><span style="-sec-ix-hidden: xdx2ixbrl1305">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zKXJyXen5OXc" style="width: 11%; text-align: right" title="Number of Options, Granted">1,224,139</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_z3HPlgV7lHh9" style="width: 11%; text-align: right" title="Weighted Average Exercise Price of Options, Granted">0.14</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_pid_di_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zBGUDjzUIFMg" style="text-align: right" title="Number of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1311">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zYMwGOOXRvJi" style="text-align: right" title="Weighted Average Exercise Price of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1313">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zapFoZDRg2ni" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Forfeited"><span style="-sec-ix-hidden: xdx2ixbrl1315">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zEolIhcf8rt8" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price - options, forfeited"><span style="-sec-ix-hidden: xdx2ixbrl1317">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Options outstanding as of March 31, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zgHjMFZpIVri" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding at beginning of period">1,224,139</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zqTaYDZ2V9xf" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price of Options, Outstanding at beginning of period">0.14</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240401__20250331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zzFD91herDCk" title="Weighted average remaining contractual life - options, outstanding at beginning of period">9.1</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_za87e7pYMJwa" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Outstanding at beginning of period">3,501</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_z5YWYvHEN6g1" style="text-align: right" title="Number of Options, Granted">169,913</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_ziEsb2HyfQW3" style="text-align: right" title="Weighted Average Exercise Price of Options, Granted">3.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_pid_di_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zecF9JIVa7hf" style="text-align: right" title="Number of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1331">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_z3K6NYELNkK4" style="text-align: right" title="Weighted Average Exercise Price of Options, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1333">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zCx9aDsAiMYh" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Forfeited">(134,723</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zRDQ9XILrgp" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price - options, forfeited">2.82</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding as of March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zfEaOkfKvcG1" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding at ending of period">1,259,329</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zx5hb3vD5vla" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price of Options, Outstanding at ending of period">0.24</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zhz8aKY5TdIa" title="Weighted Average Remaining Contractual Life of Options, Outstanding">8.1</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_znqU4pApiRS8" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Outstanding at ending of period">3,477</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable as of March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zCGea6Lpnox2" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options Outstanding, Exercisable">622,341</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zNIF39u3q2A1" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price of Options, Exercisable">0.19</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250401__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_zLCSAYm36C8j" title="Weighted Average Remaining Contractual Life of Options, Exercisable">8.1</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_c20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwentyThreeNeuroNosLtdEquityIncentivePlanMember_znZ7QXjs68d9" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate Intrinsic Value, Exercisable">1,748</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1224139 0.14 1224139 0.14 P9Y1M6D 3501000 169913 3.00 134723 2.82 1259329 0.24 P8Y1M6D 3477000 622341 0.19 P8Y1M6D 1748000 100000 P1Y6M 2.38 0.11 <p id="xdx_890_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_znuBCNu7JmO5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following was utilized to calculate the fair value of options on the date of grant:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_z5l5Hkq90oM9" style="display: none">SCHEDULE OF FAIR VALUE OF OPTION</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk -free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20250401__20260331__srt--RangeAxis__srt--MinimumMember_ztqHuUTMVkU6" title="Risk-free interest rate">3.7</span>-<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20250401__20260331__srt--RangeAxis__srt--MaximumMember_z5Weo3qWwYK6" title="Risk-free interest rate">4.2</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240401__20250331__srt--RangeAxis__srt--MinimumMember_zOk3WASdJaOc" title="Risk-free interest rate">3.6</span>-<span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20240401__20250331__srt--RangeAxis__srt--MaximumMember_zD0V6CXOeHYk" title="Risk-free interest rate">4.4</span></span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility (Beyond Air)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20250401__20260331__dei--LegalEntityAxis__custom--BeyondAirIncMember__srt--RangeAxis__srt--MinimumMember_zV4T83F0opSe" title="Expected volatility">91.6</span>-<span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20250401__20260331__dei--LegalEntityAxis__custom--BeyondAirIncMember__srt--RangeAxis__srt--MaximumMember_z8EHPpW1UOH2" title="Expected volatility">106.2</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240401__20250331__dei--LegalEntityAxis__custom--BeyondAirIncMember__srt--RangeAxis__srt--MinimumMember_z8BzrqrUvkL6" title="Expected volatility">83.6</span>-<span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240401__20250331__dei--LegalEntityAxis__custom--BeyondAirIncMember__srt--RangeAxis__srt--MaximumMember_z8rmUTALNZgf" title="Expected volatility">89.9</span></span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected volatility (Beyond Cancer)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20250401__20260331__dei--LegalEntityAxis__custom--BeyondCancerLtdMember_zl2io9hAH0Rl" title="Expected volatility">N/A</span></span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240401__20250331__dei--LegalEntityAxis__custom--BeyondCancerLtdMember_zaRevvw1K9Bc" title="Expected volatility">N/A</span></span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Expected volatility (NeuroNos)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20250401__20260331__dei--LegalEntityAxis__custom--NeuroNosLtdMember_zVJpALKf2QR1" title="Expected volatility">95.0</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20240401__20250331__dei--LegalEntityAxis__custom--NeuroNosLtdMember_zJibdoGTAv21" title="Expected volatility">95.0</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20250401__20260331_zYE7J99l4Uc7" title="Dividend yield">0</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20240401__20250331_zh1kgth8vmC5" title="Dividend yield">0</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected terms (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20250401__20260331_zXpIeUoRAko2" title="Expected term (in years)">6.25</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240401__20250331_zh1VdwzsZHpd" title="Expected term (in years)">6.25</span></td><td style="text-align: left"> </td></tr> </table> 0.037 0.042 0.036 0.044 0.916 1.062 0.836 0.899 0.950 0.950 0 0 P6Y3M P6Y3M 0.14 3.00 <p id="xdx_894_eus-gaap--ScheduleOfShareBasedCompensationActivityTableTextBlock_zC0pH738OJH8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following summarizes the components of stock-based compensation expense which included stock options and restricted stock for the years ended March 31, 2026 and March 31, 2025 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_zEz0Aj0KcgYk" style="display: none">SCHEDULE OF STOCK-BASED COMPENSATION EXPENSE</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250401__20260331_zq7dXjpYPMUl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240401__20250331_zveT734dr9Ck" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40B_eus-gaap--ShareBasedCompensation_pn3n3_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--ResearchAndDevelopmentExpense_zphXUEaGZq5c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,153</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">471</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ShareBasedCompensation_pn3n3_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--GeneralAndAdministrativeExpense_zRBl1sXybtyd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,129</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,675</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ShareBasedCompensation_pn3n3_z3LePV7u1DXh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total stock-based compensation expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,282</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,146</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1153000 471000 4129000 8675000 5282000 9146000 1439128 2.21 2900000 200000 100000 719562 0.125 2.21 P5Y 512821 1.95 3930818 1.147 3405828 0.0001 1263215 <p id="xdx_896_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zVuaGqiwngbe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the Company’s outstanding warrants as of March 31, 2026 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B7_znadyXZOO54l" style="display: none">SUMMARY OF OUTSTANDING WARRANTS</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Warrant Holders</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number of</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Warrants</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exercise</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Price</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Intrinsic Value</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(in thousands)</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Date of</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Expiration</b></span></p></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%; text-align: justify">NitricGen agreement</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--NitricGenAgreementMember_z4kShwuooEzd" style="width: 11%; text-align: right" title="Number of Warrants">4,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--NitricGenAgreementMember_zrrfqWfjyFs9" style="width: 11%; text-align: right" title="Exercise Price">138.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--NitricGenAgreementMember_z82UsnuOhuai" style="width: 11%; text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1450">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 17%; text-align: center"><span id="xdx_90B_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--NitricGenAgreementMember_z67dCquqcvBe" title="Date of Expiration">January 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Avenue agreement</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--AvenueAgreementMember_z3qE4BXpSG88" style="text-align: right" title="Number of Warrants">11,693</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--AvenueAgreementMember_zE1o60N5QRK3" style="text-align: right" title="Exercise Price">7.59</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--AvenueAgreementMember_zYBi17WHaRG6" style="text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1458">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_902_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--AvenueAgreementMember_zV23M8znsHYj" title="Date of Expiration">June 2028</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">March 2024 raise</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--MarchTwoThousandTwentyFourRaiseMember_zw5FeoLMNUkg" style="text-align: right" title="Number of Warrants">481,936</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--MarchTwoThousandTwentyFourRaiseMember_zvFMa9PYPi5" style="text-align: right" title="Exercise Price">45.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--MarchTwoThousandTwentyFourRaiseMember_z4lkHpV5luNi" style="text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1466">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90F_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--MarchTwoThousandTwentyFourRaiseMember_zLdjKKNcg7hk" title="Date of Expiration">March 2027</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Avenue extension agreement</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--AvenueExtensionAgreementMember_zPAZzCg5Omcj" style="text-align: right" title="Number of Warrants">5,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--AvenueExtensionAgreementMember_zcfOWm9cqmn5" style="text-align: right" title="Exercise Price">25.60</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--AvenueExtensionAgreementMember_zx4ik2vBNlC5" style="text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1474">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_909_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--AvenueExtensionAgreementMember_zwt1QWSGlGCl" title="Date of Expiration">June 2029</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">September 2024 equity offering</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFourEquityOfferingMember_zP5rs7vYn62b" style="text-align: right" title="Number of Warrants">555,229</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFourEquityOfferingMember_z8gTZM698Bt8" style="text-align: right" title="Exercise Price">7.59</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFourEquityOfferingMember_zeKM7h9fB06" style="text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1482">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_905_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFourEquityOfferingMember_zmGsa4tmgTH2" title="Date of Expiration">September 2029</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">September 2024 debt instrument</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFourDebtInstrumentMember_zFkIDRzrQlDh" style="text-align: right" title="Number of Warrants">1,270,796</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFourDebtInstrumentMember_zicWS367XVkj" style="text-align: right" title="Exercise Price">1.95</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFourDebtInstrumentMember_zvtoJXRSuLOc" style="text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1490">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_902_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFourDebtInstrumentMember_zKYCGJ3Wszh7" title="Date of Expiration">September 2029 / November 2030</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">September 2025 inducement</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFiveInducementMember_zrk8L3PstUP1" style="text-align: right" title="Number of Warrants">719,562</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFiveInducementMember_zcTuX5vJXQ04" style="text-align: right" title="Exercise Price">2.21</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFiveInducementMember_zJ9gj1dntk87" style="text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1498">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_90D_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--SeptemberTwoThousandTwentyFiveInducementMember_zTonXyrH1eCj" title="Date of Expiration">September 2030</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">January 2026 equity offering</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--JanuaryTwoThousandTwentySixEquityOfferingMember_zMqAK5J6CSs3" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Warrants">3,930,818</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_982_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--JanuaryTwoThousandTwentySixEquityOfferingMember_zUXDNfH4EXAj" style="border-bottom: Black 1pt solid; text-align: right" title="Exercise Price">1.147</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--JanuaryTwoThousandTwentySixEquityOfferingMember_z5zH5sGpVSNl" style="border-bottom: Black 1pt solid; text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1506">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><span id="xdx_902_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--JanuaryTwoThousandTwentySixEquityOfferingMember_zReAqHOnTIq8" title="Date of Expiration">January 2031</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Subtotal</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SubTotalMember_zpqKgoG7zFA3" style="text-align: right" title="Number of Warrants">6,979,034</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SubTotalMember_zRyE1w5e87e4" style="text-align: right" title="Exercise Price">5.05</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--SubTotalMember_zpF3Vh78GCg2" style="text-align: right" title="Intrinsic Value"><span style="-sec-ix-hidden: xdx2ixbrl1514">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Pre-funded warrants (Sep-2024 offering)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--PreFundedWarrantsSepTwoThousandTwentyFourMember_ziNtUpjIizjh" style="text-align: right" title="Number of Warrants">220,006</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--PreFundedWarrantsSepTwoThousandTwentyFourMember_zut3bvqrXnz9" style="text-align: right" title="Exercise Price">0.002</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--PreFundedWarrantsSepTwoThousandTwentyFourMember_ziio5DBdmHZj" style="text-align: right" title="Intrinsic Value">151</td><td style="text-align: left"> </td><td> </td> <td style="text-align: center"><span id="xdx_909_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--PreFundedWarrantsSepTwoThousandTwentyFourMember_zTe4TE5Bfixi" title="Date of Expiration">September 2029</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Pre-funded warrants (Jan-2026 offering)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--PreFundedWarrantsJanTwoThousandTwentySixMember_zTM446FKRBO9" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Warrants">2,142,613</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--PreFundedWarrantsJanTwoThousandTwentySixMember_zzgI25s9Rhc1" style="border-bottom: Black 1pt solid; text-align: right" title="Exercise Price">0.0001</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98C_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331__us-gaap--TypeOfArrangementAxis__custom--PreFundedWarrantsJanTwoThousandTwentySixMember_zzhhUwr98aWk" style="border-bottom: Black 1pt solid; text-align: right" title="Intrinsic Value">1,479</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><span id="xdx_901_ecustom--WarrantsExpirationDateDescription_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--PreFundedWarrantsJanTwoThousandTwentySixMember_zTy0FS3fMkb9" title="Date of Expiration">January 2031</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260331_zDKoi3QCk5ye" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Warrants">9,341,653</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260331_zGE9blo9TObb" style="border-bottom: Black 2.5pt double; text-align: right" title="Exercise Price">3.773</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_ecustom--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1IntrinsicValue_iI_pid_c20260331_zsRu6JJ5ajh5" style="border-bottom: Black 2.5pt double; text-align: right" title="Intrinsic Value">1,630</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: center; padding-bottom: 2.5pt"> </td></tr> </table> 4000 138.00 January 2028 11693 7.59 June 2028 481936 45.00 March 2027 5000 25.60 June 2029 555229 7.59 September 2029 1270796 1.95 September 2029 / November 2030 719562 2.21 September 2030 3930818 1.147 January 2031 6979034 5.05 220006 0.002 151 September 2029 2142613 0.0001 1479 January 2031 9341653 3.773 1630 0 0 <p id="xdx_80A_eus-gaap--OtherCurrentAssetsTextBlock_zFJmrFKcjcPg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 5 <span id="xdx_829_z8Bw8CKCb5M5">OTHER CURRENT ASSETS AND PREPAID EXPENSES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_z12r0YX9rOK8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of other current assets and prepaid expenses as of March 31, 2026 and March 31, 2025 is as follows (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_zWlHKa80qD8c" style="display: none">SCHEDULE OF OTHER CURRENT ASSETS AND PREPAID EXPENSES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260331_zTQvj9c1CA6i" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250331_z3gnSdYgdLL5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_ecustom--PrepaidResearchAndDevelopment_iI_maPEAOAzff3_z3DrsaFKYFsj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">696</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">108</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PrepaidInsurance_iI_maPEAOAzff3_z17lBgx71299" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid insurance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">579</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">817</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PrepaidRent_iI_maPEAOAzff3_zzYTebrULgoc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid rents and tenant improvement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PrepaidTaxes_iI_maPEAOAzff3_zVlyDEphLZT3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Value added tax receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">150</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DepositsAssets_iI_maPEAOAzff3_zsExCHma4Syg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deposits to secure manufacturing materials</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,420</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,377</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--Supplies_iI_maPEAOAzff3_zLHwcz0ZdJjc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Demonstration materials</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">78</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OtherAssetsCurrent_iI_maPEAOAzff3_zAoTAMHnW28f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">190</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">203</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pn3n3_mtPEAOAzff3_z1LDZg4eceVg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total other current assets and prepaid expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,012</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,743</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zZjeLdcENH49" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_z12r0YX9rOK8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of other current assets and prepaid expenses as of March 31, 2026 and March 31, 2025 is as follows (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BA_zWlHKa80qD8c" style="display: none">SCHEDULE OF OTHER CURRENT ASSETS AND PREPAID EXPENSES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260331_zTQvj9c1CA6i" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250331_z3gnSdYgdLL5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_ecustom--PrepaidResearchAndDevelopment_iI_maPEAOAzff3_z3DrsaFKYFsj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">696</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">108</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PrepaidInsurance_iI_maPEAOAzff3_z17lBgx71299" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid insurance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">579</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">817</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PrepaidRent_iI_maPEAOAzff3_zzYTebrULgoc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Prepaid rents and tenant improvement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PrepaidTaxes_iI_maPEAOAzff3_zVlyDEphLZT3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Value added tax receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">105</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">150</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DepositsAssets_iI_maPEAOAzff3_zsExCHma4Syg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deposits to secure manufacturing materials</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,420</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,377</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--Supplies_iI_maPEAOAzff3_zLHwcz0ZdJjc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Demonstration materials</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">78</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OtherAssetsCurrent_iI_maPEAOAzff3_zAoTAMHnW28f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">190</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">203</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_pn3n3_mtPEAOAzff3_z1LDZg4eceVg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total other current assets and prepaid expenses</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,012</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,743</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 696000 108000 579000 817000 8000 10000 105000 150000 3420000 4377000 14000 78000 190000 203000 5012000 5743000 <p id="xdx_80E_eus-gaap--AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_zcVMWyY4y1j" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 6 <span id="xdx_828_zKczuug6aX78">ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zZTkvZpdS6Ah" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of accrued expenses and other current liabilities as of March 31, 2026 and March 31, 2025 is as follows (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zIdDrAHEKJdb" style="display: none">SUMMARY OF ACCRUED EXPENSES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20260331_zgmGMcKnZwQ" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250331_zt51FMOpjwUb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_ecustom--AccruedResearchAndDevelopmentExpenses_iI_pn3n3_maTSAEzACS_zI7vqb8Et3Ib" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">16</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">360</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedProfessionalFeesCurrent_iI_pn3n3_maTSAEzACS_z07t4i6zH1yf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">252</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">440</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AccruedEmployeeBenefitsCurrent_iI_pn3n3_maTSAEzACS_zSO1iQsJpyy3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Employee salaries and benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">465</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">924</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--InterestSeveranceCurrent_iI_pn3n3_maTSAEzACS_z2jeCUo66EU9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued severance<span id="xdx_F4C_zPEwRQVV9dUg">*</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">696</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="margin: 0"><span style="-sec-ix-hidden: xdx2ixbrl1584">-</span></p></td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--InterestPayableCurrent_iI_pn3n3_maTSAEzACS_zAZ3jpsVd2n5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">750</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1587">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredRevenueCurrent_iI_pn3n3_maTSAEzACS_z9sLbDACDPh1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">777</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1590">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--GoodsReceivedNotInvoiced_iI_pn3n3_maTSAEzACS_z6hXfThxgJmg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Goods received not invoiced</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">273</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">98</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maTSAEzACS_zFG2iVnQ3jS" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">143</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">223</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_pn3n3_mtTSAEzACS_zMAwvGTeAEbc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total accrued expenses and other current liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,372</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,045</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A6_zBXqbMPPsWId" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F08_zPeN4BuLIU4e" style="width: 15pt; text-align: right">*</td><td style="text-align: justify"><span id="xdx_F15_zBxnU1wW0g4i" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the terms of the Release Agreement with Steve Lisi, former CEO, the Company is obligated to pay Mr. Lisi $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNVTU1BUlkgT0YgQUNDUlVFRCBFWFBFTlNFUyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_901_eus-gaap--Cash_iI_c20260331__srt--TitleOfIndividualAxis__custom--SteveLisiMember_zzRrwFGbAO1b">650,000</span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in cash compensation over 12 months. After expected employer taxes and benefits, the Company accrued $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNVTU1BUlkgT0YgQUNDUlVFRCBFWFBFTlNFUyAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_eus-gaap--TaxesPayableCurrent_iI_pn5n6_c20260331__srt--TitleOfIndividualAxis__custom--SteveLisiMember_zi71LrIwbDJe">0.7</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million The Company shall also pay Mr. Lisi COBRA premiums for 12 months, as more specifically described in the Release Agreement. All unvested options and all unvested stock restriction unit awards held by Mr. Lisi as of March 27, 2026, shall be accelerated and shall immediately vest, and shall continue to remain exercisable for twenty-four (24) months from March 27, 2026.</span></span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zZTkvZpdS6Ah" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of accrued expenses and other current liabilities as of March 31, 2026 and March 31, 2025 is as follows (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B6_zIdDrAHEKJdb" style="display: none">SUMMARY OF ACCRUED EXPENSES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20260331_zgmGMcKnZwQ" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250331_zt51FMOpjwUb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_ecustom--AccruedResearchAndDevelopmentExpenses_iI_pn3n3_maTSAEzACS_zI7vqb8Et3Ib" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Research and development</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">16</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">360</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedProfessionalFeesCurrent_iI_pn3n3_maTSAEzACS_z07t4i6zH1yf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">252</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">440</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AccruedEmployeeBenefitsCurrent_iI_pn3n3_maTSAEzACS_zSO1iQsJpyy3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Employee salaries and benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">465</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">924</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--InterestSeveranceCurrent_iI_pn3n3_maTSAEzACS_z2jeCUo66EU9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued severance<span id="xdx_F4C_zPEwRQVV9dUg">*</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">696</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><p style="margin: 0"><span style="-sec-ix-hidden: xdx2ixbrl1584">-</span></p></td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--InterestPayableCurrent_iI_pn3n3_maTSAEzACS_zAZ3jpsVd2n5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">750</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1587">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredRevenueCurrent_iI_pn3n3_maTSAEzACS_z9sLbDACDPh1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">777</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1590">-</span></td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--GoodsReceivedNotInvoiced_iI_pn3n3_maTSAEzACS_z6hXfThxgJmg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Goods received not invoiced</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">273</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">98</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maTSAEzACS_zFG2iVnQ3jS" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">143</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">223</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_pn3n3_mtTSAEzACS_zMAwvGTeAEbc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total accrued expenses and other current liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,372</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,045</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 16000 360000 252000 440000 465000 924000 696000 750000 777000 273000 98000 143000 223000 3372000 2045000 650000000 700000 <p id="xdx_80C_eus-gaap--LesseeOperatingLeasesTextBlock_zcWR3kj6vu7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 7 <span id="xdx_820_zlb7WdAgQu14">LEASES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Lease population</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company leases various office facilities under non-cancelable operating leases that expire at various dates through 2031. The Company does not have any finance leases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In March 2026, <span id="xdx_908_eus-gaap--LesseeOperatingLeaseDescription_c20260301__20260331_zzqP9gcxdedc" title="Operation lease description">the Company entered into a second amendment to lease of one of its facilities (the “Lease Amendment”). The Lease Amendment extended the lease for an additional three years through May 31, 2029 with fixed monthly base rent amounts through the extended term</span>. The Company accounted for the Lease Amendment on the effective date, resulting in the remeasurement of the operating lease liability with a corresponding adjustment to the right-of-use asset in the amount of $<span id="xdx_90A_eus-gaap--OperatingLeaseRightOfUseAssetAmortizationExpense_pn5n6_c20260301__20260331_zKALk18yntGe" title="Operating lease liability">0.1</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In April 2025, <span id="xdx_903_eus-gaap--LesseeOperatingLeaseDescription_c20250401__20250430_zvnCLbyvoJU4" title="Operation lease description">the Company entered into an agreement to sublease the Beyond Cancer office space in Atlanta, Georgia beginning June 1, 2025 and continuing through September 30, 2026 coinciding with the termination of the existing lease.</span> The sublease has been classified as an operating lease by the Company. Sublease rental income offsets the monthly rental expense from the Company’s lease of the office, and is recorded as reduction of selling, general, and administrative expenses in the Company’s consolidated statements of operation and comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There were no new leases entered into during the years ended March 31, 2026 and March 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Lease position</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the lease-related assets and liabilities recorded on the Company’s consolidated balance sheets as of March 31, 2026 and March 31, 2025 (in thousands):</span></p> <p id="xdx_895_ecustom--ScheduleOfOperatingLeaseLiabilityTableTextBlock_zzGG9uvKCL88" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zWw6wivgAbN8" style="display: none">SCHEDULE OF OPERATING LEASE LIABILITY</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260331_ztxAbLxHn2Sk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250331_zUIRFzHnw3P6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_zGiI7WhnLF96" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 2.5pt">Right-of-use assets</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">1,193</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">1,706</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_maOLLzD8e_zijA2SGcibBf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating lease liability short-term</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">321</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">396</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_maOLLzD8e_zZY66ViD8VS6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Operating lease liability long-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,023</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,486</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_mtOLLzD8e_zwYBqLLf2B5h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,344</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,882</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted-average remaining lease term – operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260331_znOjxmBlimJ4" title="Weighted Average Remaining Lease Term">4.5 </span>years</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20250331_zzCirPO695al" title="Weighted Average Remaining Lease Term">5.0</span> years</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted-average discount rate – operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20260331_zWu3VTFvafml" title="Weighted-average discount rate - operating leases">8.9</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20250331_zaZgJwELdgHh" title="Weighted-average discount rate - operating leases">8.3</span></td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A4_z2t3MkU6Ptg3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Lease costs</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p id="xdx_89E_eus-gaap--LeaseCostTableTextBlock_zF2ZNa3nJYH5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the lease-related costs for the years ended March 31, 2026 and March 31, 2025 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B4_zpu05L1SLtJ7">SCHEDULE OF LEASE RELATED COSTS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250401__20260331_zENbH7iuWro5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240401__20250331_zBYPaefONGOj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseCost_pn3n3_maLCzzCQ_z0My6r6OOnOd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">505</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">539</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ShortTermLeaseCost_pn3n3_maLCzzCQ_z2H9Zw5Chtsc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Short-term lease costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">88</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">261</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--SubleaseIncome_iN_pn3n3_di_msLCzzCQ_zxSykFRXTka2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Sublease income</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(49</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1643">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LeaseCost_iT_pn3n3_mtLCzzCQ_zXlAIoIONgAi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">544</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">800</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A1_zWf1ZEDrGz98" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Other lease information</i></span></p> <p id="xdx_890_ecustom--OtherLeaseTableTextBlock_zKiHMb2MucUa" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zb9C4Lawqlg" style="display: none">SCHEDULE OF LEASE OTHER INFORMATION</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250401__20260331_zWe37xsnyjM2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash paid for amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeasePayments_pn3n3_zOlj2msqDkfl" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Operating cash flows for operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">532</td><td style="width: 1%; text-align: left"> </td></tr> </table> <p id="xdx_8A6_zzcHPX81UPI6" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-cash operating lease right-of-use assets obtained in exchange for operating lease liabilities were $<span id="xdx_90B_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_pn5n6_c20250401__20260331_zKuv5wkJEpOg">0.1</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million and $<span id="xdx_901_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_c20240401__20250331_zYEConylG9sf" title="Operating lease liability in exchange">0 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million during the years ended March 31, 2026 and March 31, 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_892_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zYXW08BCXxjd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_zfZ5k3klDSH3">SCHEDULE OF MATURITY OF LEASE LIABILITIES</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left; font-weight: bold">Maturity of Lease Liabilities</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260331_zhBNqVEJf3R2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating Leases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Payments remaining for the year ended March 31:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzQlL_z6NZJokfnDB4" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">419</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzQlL_zRBqnociW0W5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">301</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPzQlL_zEHihp9ptXke" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">309</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_maLOLLPzQlL_zxRICOmjHPt5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">268</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_pn3n3_maLOLLPzQlL_zYy81r2jjSLd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2031</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">266</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_pn3n3_maLOLLPzQlL_zNPYuOxJJLYb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">60</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzQlL_zEIJB56tliha" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,623</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zJZIK5zKLAK6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: amount of lease payments representing interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(279</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiability_iI_pn3n3_z6oBkRfqQNGg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Present value of future lease payments</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,344</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AE_zA20lp6ReG84" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> the Company entered into a second amendment to lease of one of its facilities (the “Lease Amendment”). The Lease Amendment extended the lease for an additional three years through May 31, 2029 with fixed monthly base rent amounts through the extended term 100000 the Company entered into an agreement to sublease the Beyond Cancer office space in Atlanta, Georgia beginning June 1, 2025 and continuing through September 30, 2026 coinciding with the termination of the existing lease. <p id="xdx_895_ecustom--ScheduleOfOperatingLeaseLiabilityTableTextBlock_zzGG9uvKCL88" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8BF_zWw6wivgAbN8" style="display: none">SCHEDULE OF OPERATING LEASE LIABILITY</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260331_ztxAbLxHn2Sk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250331_zUIRFzHnw3P6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_zGiI7WhnLF96" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 2.5pt">Right-of-use assets</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">1,193</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">1,706</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_maOLLzD8e_zijA2SGcibBf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating lease liability short-term</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">321</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">396</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_maOLLzD8e_zZY66ViD8VS6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Operating lease liability long-term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,023</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,486</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_mtOLLzD8e_zwYBqLLf2B5h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,344</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,882</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted-average remaining lease term – operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260331_znOjxmBlimJ4" title="Weighted Average Remaining Lease Term">4.5 </span>years</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20250331_zzCirPO695al" title="Weighted Average Remaining Lease Term">5.0</span> years</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted-average discount rate – operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20260331_zWu3VTFvafml" title="Weighted-average discount rate - operating leases">8.9</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20250331_zaZgJwELdgHh" title="Weighted-average discount rate - operating leases">8.3</span></td><td style="text-align: left">%</td></tr> </table> 1193000 1706000 321000 396000 1023000 1486000 1344000 1882000 P4Y6M P5Y 0.089 0.083 <p id="xdx_89E_eus-gaap--LeaseCostTableTextBlock_zF2ZNa3nJYH5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the lease-related costs for the years ended March 31, 2026 and March 31, 2025 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B4_zpu05L1SLtJ7">SCHEDULE OF LEASE RELATED COSTS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250401__20260331_zENbH7iuWro5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240401__20250331_zBYPaefONGOj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseCost_pn3n3_maLCzzCQ_z0My6r6OOnOd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">505</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">539</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ShortTermLeaseCost_pn3n3_maLCzzCQ_z2H9Zw5Chtsc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Short-term lease costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">88</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">261</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--SubleaseIncome_iN_pn3n3_di_msLCzzCQ_zxSykFRXTka2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Sublease income</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(49</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1643">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LeaseCost_iT_pn3n3_mtLCzzCQ_zXlAIoIONgAi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">544</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">800</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 505000 539000 88000 261000 49000 544000 800000 <p id="xdx_890_ecustom--OtherLeaseTableTextBlock_zKiHMb2MucUa" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zb9C4Lawqlg" style="display: none">SCHEDULE OF LEASE OTHER INFORMATION</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250401__20260331_zWe37xsnyjM2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash paid for amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeasePayments_pn3n3_zOlj2msqDkfl" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Operating cash flows for operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">532</td><td style="width: 1%; text-align: left"> </td></tr> </table> 532000 100000 0 <p id="xdx_892_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zYXW08BCXxjd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B7_zfZ5k3klDSH3">SCHEDULE OF MATURITY OF LEASE LIABILITIES</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left; font-weight: bold">Maturity of Lease Liabilities</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260331_zhBNqVEJf3R2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating Leases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Payments remaining for the year ended March 31:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzQlL_z6NZJokfnDB4" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">419</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzQlL_zRBqnociW0W5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">301</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPzQlL_zEHihp9ptXke" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">309</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_maLOLLPzQlL_zxRICOmjHPt5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">268</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_pn3n3_maLOLLPzQlL_zYy81r2jjSLd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2031</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">266</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_pn3n3_maLOLLPzQlL_zNPYuOxJJLYb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">60</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzQlL_zEIJB56tliha" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,623</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zJZIK5zKLAK6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: amount of lease payments representing interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(279</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiability_iI_pn3n3_z6oBkRfqQNGg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Present value of future lease payments</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,344</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 419000 301000 309000 268000 266000 60000 1623000 279000 1344000 <p id="xdx_805_eus-gaap--EarningsPerShareTextBlock_zIltlnQJNM19" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 8 <span id="xdx_820_zKKZ4fiPRS2">BASIC AND DILUTED NET LOSS PER SHARE OF COMMON STOCK</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In accordance with ASC 260, <i>Earnings Per Share,</i> warrants that are accounted for as liabilities which are potentially dilutive have not been included in diluted earnings per share as they would have been anti-dilutive during the years ended March 31, 2026 and March 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_znacKb9NFTD1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following potentially dilutive securities were not included in the calculation of diluted net loss per share attributable to common stockholders of Beyond Air, Inc. because their effect would have been anti-dilutive for the periods presented:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_z0HFVm5qSmd3" style="display: none">SCHEDULE OF POTENTIAL ANTI-DILUTIVE SECURITIES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250401__20260331_zyCJZViThJc3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240401__20250331_zvW3CQlTZx3h" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zYcoqRAL4887" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Common stock warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">6,979,034</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,254,967</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--StockOptionMember_zsqFJjyPz7d7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common stock options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">756,749</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">739,214</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockMember_zHMyFKgsmVJ3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Restricted shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,485</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18,265</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zShpzar5v0Ak" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,745,268</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">4,012,446</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_znCfEUbDVO44" style="display: none; vertical-align: bottom; background-color: White"> <td style="display: none; padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif">Anti-dilutive securities</span></td><td style="display: none; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; display: none; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; display: none; text-align: right">7,745,268</td><td style="display: none; padding-bottom: 2.5pt; text-align: left"> </td><td style="display: none; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; display: none; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; display: none; text-align: right">4,012,446</td><td style="display: none; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AA_zI6lxCq6umm9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s pre-funded warrants of <span id="xdx_90B_eus-gaap--WeightedAverageNumberDilutedSharesOutstandingAdjustment_pid_c20250401__20260331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PreFundedWarrantsMember_zTydC4CF8WE4" title="Warrants included in calculation of diluted net loss per share">2,362,619</span> and <span id="xdx_90A_eus-gaap--WeightedAverageNumberDilutedSharesOutstandingAdjustment_pid_c20240401__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PreFundedWarrantsMember_zkgDqDhZVBQj" title="Warrants included in calculation of diluted net loss per share">606,367</span> as of March 31, 2026 and March 31, 2025, respectively, were included in the calculation of diluted net loss per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_znacKb9NFTD1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following potentially dilutive securities were not included in the calculation of diluted net loss per share attributable to common stockholders of Beyond Air, Inc. because their effect would have been anti-dilutive for the periods presented:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_z0HFVm5qSmd3" style="display: none">SCHEDULE OF POTENTIAL ANTI-DILUTIVE SECURITIES</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250401__20260331_zyCJZViThJc3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240401__20250331_zvW3CQlTZx3h" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zYcoqRAL4887" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Common stock warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">6,979,034</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,254,967</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--StockOptionMember_zsqFJjyPz7d7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Common stock options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">756,749</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">739,214</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockMember_zHMyFKgsmVJ3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Restricted shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,485</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18,265</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zShpzar5v0Ak" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">7,745,268</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">4,012,446</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_znCfEUbDVO44" style="display: none; vertical-align: bottom; background-color: White"> <td style="display: none; padding-bottom: 2.5pt"><span style="display: none; font-family: Times New Roman, Times, Serif">Anti-dilutive securities</span></td><td style="display: none; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; display: none; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; display: none; text-align: right">7,745,268</td><td style="display: none; padding-bottom: 2.5pt; text-align: left"> </td><td style="display: none; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; display: none; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; display: none; text-align: right">4,012,446</td><td style="display: none; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 6979034 3254967 756749 739214 9485 18265 7745268 4012446 7745268 4012446 2362619 606367 <p id="xdx_804_eus-gaap--LongTermDebtTextBlock_zPjnGYjQDMTd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 9 <span id="xdx_82A_zvqtcOxFaPn6">LOANS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_eus-gaap--ScheduleOfDebtTableTextBlock_zzHzFpRkT6p1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of long-term debt as of March 31, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zojEY2G15B6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_z3ToXf20G5Gk" style="display: none">SCHEDULE OF LONG-TERM DEBT</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20261231__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember_zL5Ig4WSDLR9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Loan</p> <p style="margin-top: 0; margin-bottom: 0">Agreement</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20261231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zMhw6lWWPJd6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Promissory</p> <p style="margin-top: 0; margin-bottom: 0">Note</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20261231_zX7s1Eq1UJHe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_maDICAzlrH_zCCbDbJ9awai" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Principal balance outstanding</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">13,500</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">12,799</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">26,299</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--PaidInKindInterestAmount_iI_pn3n3_maDICAzlrH_ztTaDTxYSjp2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Paid in kind interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,459</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1707">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,459</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_pn3n3_di_msDICAzlrH_zLKaDOiByFV9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Debt discount</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,343</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,576</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,919</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--AmortizationOfDebtDiscount_iI_pn3n3_maDICAzlrH_zfUWhpFBibKb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Amortization of debt discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">427</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">373</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">800</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DebtInstrumentCarryingAmount_iTI_pn3n3_mtDICAzlrH_zG0CTfZdDvje" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">12,043</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">9,596</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">21,639</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of long-term debt as of March 31, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260331__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember_zGAkSp7buzkh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Loan</p> <p style="margin-top: 0; margin-bottom: 0">Agreement</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_maDICAzlrH_zc6Xv80Oarij" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">Principal balance outstanding</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">11,500</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--PaidInKindInterestAmount_iI_pn3n3_maDICAzlrH_zTk7sSSosZaf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Paid in kind interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">696</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_pn3n3_di_msDICAzlrH_zAnx0rBu8kUj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Debt discount</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,249</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--AmortizationOfDebtDiscount_iI_pn3n3_maDICAzlrH_zSSEH88fYNYj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Amortization of debt discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">250</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DebtInstrumentCarryingAmount_iTI_pn3n3_mtDICAzlrH_zunJpsAhuoKe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">9,197</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8AD_zfumGkXDjAvf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Loan Agreement</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 1, 2024, the Company entered into a Loan and Security Agreement (the “Loan Agreement”) for a secured loan with certain lenders, including its former Chief Executive Officer Steven Lisi and director Robert Carey, for an aggregate principal balance of $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20241101__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember_zSeJPuwhb726" title="Principal amount">11.5</span> million. The Loan Agreement was approved by each of the Company’s independent and disinterested directors, following the receipt of a recommendation from an independent investment bank. The Loan Agreement provides for the following terms: (i) principal amount of $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_c20241101__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember_zRQL7pDpS4Dk" title="Principal amount">11,500,000</span>; (ii) ten-year term; (iii) interest of <span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20241101__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember_zv4Ssb4RvABg" title="Interest rate">15</span>% per annum of which <span id="xdx_900_ecustom--DebtInstrumentInterestRatePayableInCashPercentage_iI_pid_dp_c20241101__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember_zzCfJ9qBsOXj" title="Percentage of interest payable in cash">3</span>% shall be payable in cash and <span id="xdx_90A_ecustom--DebtInstrumentInterestRatePayableInKindPercentage_iI_pid_dp_c20241101__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember_zHW6qMqYPyX1" title="Percentage of interest payable in kind">12</span>% payable in kind through June 30, 2026 and thereafter all in cash; (iv) a royalty interest of <span id="xdx_907_ecustom--RoyaltyInterestPercentage_iI_pid_dp_c20241101__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember_z9cYMlNaL328" title="Royalty interest percentage">8</span>% of the Company’s net sales on a quarterly basis from July 2026 until the facility is repaid in full; (v) the Company’s obligations will be secured by substantially all of the Company’s assets and (vi) the Company issued the lenders warrants to purchase shares of the Company’s common stock at an exercise price, adjusted for the 2025 Reverse Stock Split, of $<span id="xdx_908_eus-gaap--SharePrice_iI_pid_c20241101__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember_zB33Q5uLvPx2" title="Share price">7.59</span> per share. On November 3, 2025, the parties entered into a waiver agreement pursuant to which the Loan Agreement lenders consented to the Company’s issuance of the Streeterville Note in exchange for reducing the exercise price from $<span id="xdx_903_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20251102__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember_z8g3hh55rqac" title="Exercise price">7.59</span> per share to $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20251103__us-gaap--TypeOfArrangementAxis__custom--LoanAndSecurityAgreementMember_zAXn0zNfRGfl" title="Exercise price">1.95</span> per share.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 2, 2025, the Company received $<span id="xdx_90F_eus-gaap--ProceedsFromSaleOfLoansReceivable_pn5n6_c20250602__20250602__srt--TitleOfIndividualAxis__srt--DirectorMember_znqGLQQn1lSg" title="Advanced financing from related party">2.0</span> million of advanced financing from a related party, director Robert Carey who is also an existing lender under its Loan Agreement (“Additional Loans”). On November 3, 2025, the Company amended and restated the original Loan Agreement (as amended, the “Amended Loan Agreement”) to provide for and finalize the terms of the $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20251103__us-gaap--TypeOfArrangementAxis__custom--AmendedLoanAgreementMember_zT8xvJ2u5Tel" title="Principal amount">2.0</span> million Additional Loans and the issuance of new <span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_pid_dtY_c20251103__us-gaap--TypeOfArrangementAxis__custom--AmendedLoanAgreementMember_zdJ0ifcXUBie" style="display: none" title="Warrants term">5</span>five-year warrants to purchase up to <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20251103__us-gaap--TypeOfArrangementAxis__custom--AmendedLoanAgreementMember_zX9VFPNobrT6" title="Warrants to purchase common stock">512,821</span> shares of the Company’s common stock (the “Supplemental Warrants”) with an exercise price of $<span id="xdx_900_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20251103__us-gaap--TypeOfArrangementAxis__custom--AmendedLoanAgreementMember_zqjqxcdpwhOl" title="Warrants exercise price">1.95</span> per share and subject to the same terms and conditions applicable to the existing warrants issued under the original Loan and Security Agreement. The amendment was accounted for as a modification under ASC 470, <i>Debt</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As the repayments under the Amended Loan Agreement are based on a fixed percentage of future net sales, the timing and amounts of future principal payments may vary with the Company’s performance. The outstanding debt balance has been classified in the consolidated balance sheets based on the Company’s current estimate of the repayment timing.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Promissory Note</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 4, 2025, the Company entered into and closed on a note purchase agreement (the “Note Purchase Agreement”) with Streeterville Capital LLC (“Streeterville”), which provided for the issuance of a secured promissory note in the principal amount of $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20251104__us-gaap--TypeOfArrangementAxis__custom--NotePurchaseAgreementMember_zCBNIXvczykb" title="Principal amount">12.0</span> million (the “Note”). The principal amount of the Note is due <span id="xdx_906_eus-gaap--DebtInstrumentTerm_pid_dtM_c20251104__20251104__us-gaap--TypeOfArrangementAxis__custom--NotePurchaseAgreementMember_zSiqX6fqwHSb" title="Debt instrument term">24</span> months following the date of issuance. <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateTerms_c20251104__20251104__us-gaap--TypeOfArrangementAxis__custom--NotePurchaseAgreementMember_zMrBQLqdvquk" title="Interest rate description">Interest will accrue at the rate of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_c20251104__20251104__us-gaap--TypeOfArrangementAxis__custom--NotePurchaseAgreementMember_z5kx00jXTu8k" title="Debt instrument, interest rate">15</span>% per annum, with no interest accruing for the first 12 months following issuance; provided however, that Streeterville is guaranteed 12 months of interest, or $1.8 million, even if the Note is redeemed or prepaid prior to the maturity date.</span> Of the total $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20251104__us-gaap--TypeOfArrangementAxis__custom--NotePurchaseAgreementMember_zZSx1ylf8VO7" title="Principal amount">12.0</span> million Note, $<span id="xdx_909_ecustom--DebtInstrumentOfRestrictedAccount_pn5n6_c20251104__20251104__us-gaap--TypeOfArrangementAxis__custom--NotePurchaseAgreementMember_zI4KD9inYF8j" title="Principal in restricted account">6.0</span> million was placed in a restricted account and will be accessible by the Company as the first $<span id="xdx_902_eus-gaap--DebtInstrumentRepaidPrincipal_pn5n6_c20251104__20251104__us-gaap--TypeOfArrangementAxis__custom--NotePurchaseAgreementMember_z9uOGdR4QJkg" title="Debt instrument, principal repayable">6.0</span> million is repaid.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Note contains an embedded put feature that meet the definition of an embedded derivative in accordance with ASC 815 (Note 2).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During January 2026, Streeterville elected to purchase <span id="xdx_90B_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pn5n6_c20260101__20260131__dei--LegalEntityAxis__custom--StreetervilleCapitalLLCMember_zcFwmtSSawUe" title="Shares issued of common stock">1.6</span> million shares of common stock at an average price of $<span id="xdx_908_eus-gaap--SharePrice_iI_c20260131__dei--LegalEntityAxis__custom--StreetervilleCapitalLLCMember_zxyUVRsywd98" title="Share price">0.73</span> per share based on the average closing stock price during the five trading days immediately preceding delivery of the offset notice, which offset principal of approximately $<span id="xdx_908_eus-gaap--DebtConversionOriginalDebtAmount1_pn5n6_c20260101__20260131__dei--LegalEntityAxis__custom--StreetervilleCapitalLLCMember_zM6t6AWrO1yf" title="Debt amount">1.2 </span>million outstanding under the Note. The average fair value of the <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pn5n6_c20260101__20260131__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zF3tFo0PyJJf" title="Shares available for resale">1.6 </span>million shares of common stock issued during January 2026 was $<span id="xdx_909_eus-gaap--SharePrice_iI_pid_c20260131__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zzHkEVtbanTi" title="Price per share">2.09</span> per share (Note 4). The difference in the principal offset and the fair value of stock issued of $<span id="xdx_902_eus-gaap--CreditRiskDerivativeLiabilitiesAtFairValue_iI_pn5n6_c20260331_zg1IjJM7KZFl" title="Fair value of the derivative liability">2.2</span> million was recorded to the fair value of the embedded derivative liability and subsequent settlement of such feature (Note 2). The conversion of debt to equity through the embedded put feature is treated as a partial extinguishment of the Note, and therefore proportionate amounts of unamortized debt discount and financing costs were written-off during the year ended March 31, 2026, resulting in a loss of $<span id="xdx_908_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pn5n6_c20250401__20260331__dei--LegalEntityAxis__custom--StreetervilleCapitalLLCMember_zHv1yINTMnJk" title="Loss on extinguishment of debt">0.2</span> million recorded within Loss on extinguishment of debt in the consolidated statement of operations and comprehensive loss. In connection with this reduction to the principal balance outstanding, approximately $<span id="xdx_90E_ecustom--UnrestrictedCash_pn5n6_c20250401__20260331__dei--LegalEntityAxis__custom--StreetervilleCapitalLLCMember_zhC1OZx6xyN9" title="Unrestricted cash">0.6</span> million was released from restricted cash during the year ended March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the contractual terms of the Note, the Company was charged a one-time monitoring fee (as defined within the Note) of $<span id="xdx_90C_eus-gaap--ProfessionalFees_pn5n6_c20260204__20260204__dei--LegalEntityAxis__custom--StreetervilleCapitalLLCMember_zkKSyLMEbBo8" title="Monitoring fees">1.9</span> million that is recognized as part of the Note’s principal outstanding balance on February 4, 2026. The monitoring fee will be credited back to the Company, on a pro-rata basis, if any principal payment is made in cash and certain market conditions are met. The Company determined the monitoring fee is accounted for as an additional debt discount equivalent, with the offsetting increase to the long-term debt principal balance and will be amortized into interest expense over the remaining term of the Note under the effective interest method. If cash principal payments occur in the future, a pro-rata portion of the monitoring fee will be waived, which will reduce the obligation and a gain on extinguishment (or reduction of interest expense) will be recognized at such time.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_eus-gaap--ScheduleOfDebtTableTextBlock_zzHzFpRkT6p1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of long-term debt as of March 31, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zojEY2G15B6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B2_z3ToXf20G5Gk" style="display: none">SCHEDULE OF LONG-TERM DEBT</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20261231__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember_zL5Ig4WSDLR9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Loan</p> <p style="margin-top: 0; margin-bottom: 0">Agreement</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20261231__us-gaap--DebtInstrumentAxis__custom--PromissoryNoteMember_zMhw6lWWPJd6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Promissory</p> <p style="margin-top: 0; margin-bottom: 0">Note</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20261231_zX7s1Eq1UJHe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_maDICAzlrH_zCCbDbJ9awai" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Principal balance outstanding</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">13,500</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">12,799</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">26,299</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--PaidInKindInterestAmount_iI_pn3n3_maDICAzlrH_ztTaDTxYSjp2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Paid in kind interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,459</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1707">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,459</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_pn3n3_di_msDICAzlrH_zLKaDOiByFV9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Debt discount</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,343</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,576</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,919</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--AmortizationOfDebtDiscount_iI_pn3n3_maDICAzlrH_zfUWhpFBibKb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Amortization of debt discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">427</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">373</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">800</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DebtInstrumentCarryingAmount_iTI_pn3n3_mtDICAzlrH_zG0CTfZdDvje" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">12,043</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">9,596</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">21,639</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following is a summary of long-term debt as of March 31, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260331__us-gaap--TypeOfArrangementAxis__custom--LoanAgreementMember_zGAkSp7buzkh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">Loan</p> <p style="margin-top: 0; margin-bottom: 0">Agreement</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_maDICAzlrH_zc6Xv80Oarij" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">Principal balance outstanding</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">11,500</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--PaidInKindInterestAmount_iI_pn3n3_maDICAzlrH_zTk7sSSosZaf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Paid in kind interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">696</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_pn3n3_di_msDICAzlrH_zAnx0rBu8kUj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Debt discount</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,249</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_ecustom--AmortizationOfDebtDiscount_iI_pn3n3_maDICAzlrH_zSSEH88fYNYj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Amortization of debt discount</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">250</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DebtInstrumentCarryingAmount_iTI_pn3n3_mtDICAzlrH_zunJpsAhuoKe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">9,197</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 13500000 12799000 26299000 2459000 2459000 4343000 3576000 7919000 427000 373000 800000 12043000 9596000 21639000 11500000 696000 3249000 250000 9197000 11500000 11500000 0.15 0.03 0.12 0.08 7.59 7.59 1.95 2000000.0 2000000.0 P5Y 512821 1.95 12000000.0 P24M Interest will accrue at the rate of 15% per annum, with no interest accruing for the first 12 months following issuance; provided however, that Streeterville is guaranteed 12 months of interest, or $1.8 million, even if the Note is redeemed or prepaid prior to the maturity date. 0.15 12000000.0 6000000.0 6000000.0 1600000 0.73 1200000 1600000 2.09 2200000 200000 600000 1900000 <p id="xdx_808_eus-gaap--ShortTermDebtTextBlock_zHH8DUE0t7B7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 10 <span><span id="xdx_822_zVsF2eJzsJce">LOAN PAYABLE</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_eus-gaap--ScheduleOfShortTermDebtTextBlock_zWmY6WlW2Bhj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026 and March 31, 2025 in connection with the Company’s insurance policy, a loan was used to finance part of the premium. The details concerning the loan are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BB_zZnUqiWNQjDe" style="display: none">SCHEDULE OF LOAN PAYABLE</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Amount outstanding (thousands)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--LoansPayable_iI_pn3n3_c20260331_ztKcuScFwnHj" style="width: 16%; text-align: right" title="Amount outstanding">401</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--LoansPayable_iI_pn3n3_c20250331_zRCA5yIsJiHc" style="width: 16%; text-align: right" title="Amount outstanding">579</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Monthly payments (thousands)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--DebtInstrumentPeriodicPayment_pn3n3_c20250401__20260331_z1kwqspy89c" style="text-align: right" title="Monthly payments">59</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--DebtInstrumentPeriodicPayment_pn3n3_c20240401__20250331_zW8jO4dHw282" style="text-align: right" title="Monthly payments">117</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Number of monthly payments remaining</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--NumberOfPayments_pp0p0_uInteger_c20250401__20260331_zHgrPBwgodW1" style="text-align: right" title="Amount outstanding">7</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--NumberOfPayments_pp0p0_uInteger_c20240401__20250331_zjA4lwbY4aC7" style="text-align: right" title="Amount outstanding">5</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260331_zqdl6NpFItlj" title="Interest rate">6.60</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250331_zkMSnfzxTKt2" title="Interest rate">6.25</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Due date</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_ecustom--LoanPayableDueDateDescription_c20250401__20260331_zGarnnkgKp2i" title="Due date">October 2026</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_ecustom--LoanPayableDueDateDescription_c20240401__20250331_zXXQMTKBYW6j" title="Due date">August 2025</span></span></td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A6_z8TM3awNRtB1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_eus-gaap--ScheduleOfShortTermDebtTextBlock_zWmY6WlW2Bhj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026 and March 31, 2025 in connection with the Company’s insurance policy, a loan was used to finance part of the premium. The details concerning the loan are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BB_zZnUqiWNQjDe" style="display: none">SCHEDULE OF LOAN PAYABLE</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Amount outstanding (thousands)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--LoansPayable_iI_pn3n3_c20260331_ztKcuScFwnHj" style="width: 16%; text-align: right" title="Amount outstanding">401</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--LoansPayable_iI_pn3n3_c20250331_zRCA5yIsJiHc" style="width: 16%; text-align: right" title="Amount outstanding">579</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Monthly payments (thousands)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--DebtInstrumentPeriodicPayment_pn3n3_c20250401__20260331_z1kwqspy89c" style="text-align: right" title="Monthly payments">59</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_987_eus-gaap--DebtInstrumentPeriodicPayment_pn3n3_c20240401__20250331_zW8jO4dHw282" style="text-align: right" title="Monthly payments">117</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Number of monthly payments remaining</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--NumberOfPayments_pp0p0_uInteger_c20250401__20260331_zHgrPBwgodW1" style="text-align: right" title="Amount outstanding">7</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--NumberOfPayments_pp0p0_uInteger_c20240401__20250331_zjA4lwbY4aC7" style="text-align: right" title="Amount outstanding">5</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260331_zqdl6NpFItlj" title="Interest rate">6.60</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250331_zkMSnfzxTKt2" title="Interest rate">6.25</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Due date</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_ecustom--LoanPayableDueDateDescription_c20250401__20260331_zGarnnkgKp2i" title="Due date">October 2026</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_ecustom--LoanPayableDueDateDescription_c20240401__20250331_zXXQMTKBYW6j" title="Due date">August 2025</span></span></td><td style="text-align: left"> </td></tr> </table> 401000 579000 59000 117000 7 5 0.0660 0.0625 October 2026 August 2025 <p id="xdx_808_eus-gaap--IncomeTaxDisclosureTextBlock_zeqA2gPyTPbc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 11 <span id="xdx_82A_zcexPyvWrTHi">INCOME TAXES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, the Company has approximately $<span id="xdx_906_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20250331__us-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember_zBe4VGp0mmo7" title="Operating loss carryforwards">185.0</span> million, $<span id="xdx_902_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20250331__us-gaap--IncomeTaxAuthorityAxis__us-gaap--IsraelTaxAuthorityMember_zrNJtb4XaJh2" title="Operating loss carryforwards">30.9</span> million, $<span id="xdx_90F_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20250331__us-gaap--IncomeTaxAuthorityAxis__us-gaap--RevenueCommissionersIrelandMember_zWxZwPTLyqMc" title="Operating loss carryforwards">10.2</span> million and $<span id="xdx_90A_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20250331__us-gaap--IncomeTaxAuthorityAxis__custom--CypriotTaxMember_zTcCBz1t9Gxk" title="Operating loss carryforwards">3.5</span> million of net operating losses (“NOL”) carryforwards for U.S. federal, Israeli, Irish and Cypriot tax purposes, respectively. The U.S. federal NOL carryforwards of approximately $<span id="xdx_906_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20250331_zRZUv0hWphqk" title="Operating loss carryforwards">1.4</span> million, which were generated prior to March 2018 expire starting in 2035 through 2037. The NOL of approximately $<span id="xdx_906_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20250331__us-gaap--AwardDateAxis__custom--NoExpirationMember_zHImlo3wUwcc" title="Operating loss carryforwards">183.6</span> million can be carried forward indefinitely but limited to offset <span id="xdx_908_ecustom--OffsetTaxableIncomeRate_pid_dp_uPure_c20240401__20250331__us-gaap--AwardDateAxis__custom--NoExpirationMember_zjdKM5XtW356" title="Taxable income">80</span>% of taxable income. The entire NOL for Israel, Ireland and Australia can be carried forward indefinitely. The Company also has state NOL carryforwards in the amount of approximately $<span id="xdx_90E_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20250331__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_zefIREUv0yhf" title="Operating loss carryforwards">89.6</span> million <span id="xdx_90D_ecustom--OperatingLossCarryforwardsExpirationYears_c20240401__20250331__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_zdkNjzcW7mOg">expiring during the years from 2036 to 2043</span>. The Tax Cuts and Jobs Act of 2017 (“TCJA”) has modified the Internal Revenue Code (“IRC”) 174 expenses related to research and development for tax years beginning after December 31, 2021. Under the TCJA, the Company must now capitalize the expenditures related to research and development activities and amortize over five years for U.S. activities and 15 years for non-U.S. activities using a mid-year convention. Therefore, the capitalization of research and development costs in accordance with IRC 174 resulted in a gross deferred tax asset of $<span id="xdx_903_eus-gaap--DeferredTaxLiabilitiesDeferredExpenseCapitalizedResearchAndDevelopmentCosts_iI_pn5n6_c20250331_zBIwA0oQSA7" title="Deferred tax liabilities, deferred expense, capitalized research and development costs">27.2</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company also has R&amp;D tax credits of $<span id="xdx_905_eus-gaap--TaxCreditCarryforwardAmount_iI_pn5n6_c20250331__us-gaap--TaxCreditCarryforwardAxis__us-gaap--ResearchMember_zw4fPTsn8Arg" title="Tax credit carryforward, amount">3.3</span> million <span id="xdx_90F_eus-gaap--TaxCreditCarryforwardDescription_c20240401__20250331__us-gaap--TaxCreditCarryforwardAxis__us-gaap--ResearchMember_zWIDdc2o6qo8" title="Tax credit carryforward, description">expiring during the years from 2038 to 2042</span>. The Company has not, as yet, conducted a study of R&amp;D credit carryforwards. This study may result in an adjustment to the Company’s R&amp;D credit carryforwards. The Company assessed its uncertain tax positions and determined that a <span id="xdx_902_ecustom--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRatePercentage_pid_dp_uPure_c20240401__20250331_zDkwvLdOdANe" title="Federal tax percentage">25</span>% reserve on federal research and development credit is appropriate and in line with industry standards. As of March 31, 2026, the total amount of unrecognized tax benefits was $<span id="xdx_900_eus-gaap--UnrecognizedTaxBenefits_iI_pn5n6_c20260331_zpQZf5PLtSC2" title="Unrecognized tax benefits">0.8</span> million, exclusive of interest and penalties. A full valuation allowance has been provided against the Company’s R&amp;D credits and, if an adjustment is required, this adjustment would be offset by an adjustment to the valuation allowance. Thus, there would be no impact to the consolidated balance sheets and the consolidated statements of operations and comprehensive loss if an adjustment were required. No estimated interest or penalties related to unrecognized tax benefits have been recorded as of March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to Section 382 of the Internal Revenue Code, changes in the Company’s ownership may limit the amount of its NOL carryforwards that could be utilized annually to offset future taxable income, if any. <span id="xdx_90F_eus-gaap--OperatingLossCarryforwardsLimitationsOnUse_c20240401__20250331_zTT7mIhN47Se" title="Income tax limitation description">This limitation would generally apply in the event of a cumulative change in ownership of the Company of more than 50% within a three-year period.</span> The Company has performed a study as of March 31, 2021 and determined that on or around February 15, 2017 and February 15, 2020 ownership changes for purposes of Section 382 have occurred. The annual limitations caused by these prior ownership changes will no longer impact the utilizations of NOL’s after March 31, 2022. The Company has not updated the study since March 31, 2021 and therefore has not determined if any other NOL limitations exist.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_890_eus-gaap--ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_zNLfHyoe1cL5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of net loss before the provision for income taxes are as follows (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zIJHDNGoDaSe" style="display: none">SCHEDULE OF PROFIT (LOSS) BEFORE TAXES</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250401__20260331_zxB4ZQUTwzIj" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For the Year</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>March 31,</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2026</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240401__20250331_zVAMGKvLM326" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For the Year</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>March 31,</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40E_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_maCITEBzGXx_zjogKc9EmxT4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Domestic</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(27,066</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(42,186</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_maCITEBzGXx_z2q1Y7cILYui" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,268</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,293</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_mtCITEBzGXx_zQEImN4wkX2a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(34,334</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(48,479</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p id="xdx_8A5_zH8hVD7BoDRj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zZjOPK0bXZmf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets were as follows (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zNonrJrOSKbj" style="display: none">SCHEDULE OF DEFERRED TAX ASSET/LIABILITY</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260331_zllFfvIlsgTh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250331_zH5Q6jejfeY9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pn3n3_maDTAGz1sA_zL1Z4GsGKgkb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net operating loss carryforwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">55,607</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">48,702</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_iI_pn3n3_maDTAGz1sA_znnSsjr9QRUj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Research and development tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,506</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,197</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--ResearchAndDevelopmentTaxCreditCapitalization_iI_pn3n3_maDTAGz1sA_zI2WPQtet8x3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development tax credit capitalization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,572</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,066</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsOther_iI_pn3n3_maDTAGz1sA_z2scwFmtHa5" style="vertical-align: bottom; background-color: White"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(111</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--DeferredTaxAssetsTaxDeferredExpenseCompensationAndDepreciation_iI_pn3n3_maDTAGz1sA_zPSD444Stk56" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,803</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,337</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_pn3n3_maDTAGz1sA_z2ADsIKu6imb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,714</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,556</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--DeferredTaxAssetsReservesAndAccruels_iI_pn3n3_maDTAGz1sA_zuLImAvDWkO2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Reserves and accruals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--DeferredTaxAssetsRightofuseAsset_iI_pn3n3_maDTAGz1sA_z49r2VUBTyRl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Right-of-use asset</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(282</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(298</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--DeferredTaxAssetsLeaseLiability_iI_pn3n3_maDTAGz1sA_ziQc5X8Kf8j6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">314</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">333</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsGross_iTI_pn3n3_maDTALNzJp8_mtDTAGz1sA_zbZ8VTOv1jya" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net deferred tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">69,550</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64,240</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pn3n3_di_msDTALNzJp8_z4uqPMwirJv" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(69,550</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(64,240</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_pn3n3_mtDTALNzJp8_zfAyL6nNPT1e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Net deferred tax asset</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1893">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1894">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <p id="xdx_8A7_zZrPOmSULSM" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 11 INCOME TAXES (continued)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p id="xdx_897_ecustom--ScheduleOfDifferenceEffectiveIncomeTaxRateReconciliationTableTextBlock_zoRiUd8BE8gb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the principal reasons for the difference between the effective tax rate and the U.S. federal enacted statutory income tax rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIElOQ09NRSBUQVhFUyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_905_ecustom--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRates_pid_dp_uPure_c20250401__20260331_zmMXL9IdAiP" title="Federal income tax rate">21</span>% for the year ended March 31, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BC_z0aG5edMi1p3" style="display: none">SCHEDULE OF DIFFERENCE EFFECTIVE INCOME TAX RATE</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250401__20260331_zF8Hw48YEEAb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percent</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percent</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_pn3n3_maITEBzUaV_zb2NKG1uDnL3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; text-indent: 0pt; padding-left: 0pt">U.S. federal statutory tax rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(7,210</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20250401__20260331_zTy0B0cm9yB9" style="width: 16%; text-align: right" title="U.S. federal statutory tax rate">21.00</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40C_ecustom--IncomeTaxReconciliationDifferenceStateAndLocalIncomeTaxes_pn3n3_maITEBzUaV_zjl1AesKcEP4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Current state and local income taxes, net of federal benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1904">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--EffectiveIncomeTaxRateReconciliationDifferenceStateAndLocalIncomeTaxes_pid_dp_uPure_c20250401__20260331_zjNpHs698BZk" style="text-align: right" title="Current state and local income taxes, net of federal benefit"><span style="-sec-ix-hidden: xdx2ixbrl1906">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Foreign Tax Effects</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 0pt; padding-left: 10pt">Ireland</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_pn3n3_hsrt--StatementGeographicalAxis__country--IE_zt0Laqf10zx7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 20pt">Change in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">440</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_iN_pid_dpi_uPure_c20250401__20260331__srt--StatementGeographicalAxis__country--IE_zn3rzANx1XP8" style="text-align: right" title="Change in valuation allowance">(1.28</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--IncomeTaxReconciliationOtherAdjustments_pn3n3_hsrt--StatementGeographicalAxis__country--IE_z9jkx9jgZP7" style="vertical-align: bottom; background-color: White"> <td style="text-indent: 0pt; padding-left: 20pt">Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">235</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_iN_pid_dpi_uPure_c20250401__20260331__srt--StatementGeographicalAxis__country--IE_zXIOqsaaI4sj" style="text-align: right" title="Other">(0.69</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 0pt; padding-left: 10pt">Israel</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_pn3n3_hsrt--StatementGeographicalAxis__country--IL_maITEBzUaV_zq2weZSM9Nk5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 20pt">Change in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">371</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_iN_pid_dpi_uPure_c20250401__20260331__srt--StatementGeographicalAxis__country--IL_zFCvdfFx5DQ9" style="text-align: right" title="Change in valuation allowance">(1.08</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationOtherAdjustments_pn3n3_hsrt--StatementGeographicalAxis__country--IL_maITEBzUaV_zTsqgrFydRuc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 0pt; padding-left: 20pt">Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_iN_pid_dpi_uPure_c20250401__20260331__srt--StatementGeographicalAxis__country--IL_zaRkF3HMSD61" style="text-align: right" title="Other">(0.29</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxReconciliationOtherReconcilingItems_pn3n3_maITEBzUaV_zpeZ9pXeYC6e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 10pt">Other foreign jurisdictions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">88</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent_iN_pid_dpi_uPure_c20250401__20260331_zZWVvzKz8NUh" style="text-align: right" title="Other foreign jurisdictions">(0.26</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--IncomeTaxReconciliationDifferenceTaxCreditsResearch_iN_pn3n3_di_msITEBzUaV_zHeUTb8N4yp" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 10pt">Research and development tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(308</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--EffectiveIncomeTaxRateReconciliationDifferenceTaxCreditsResearch_iN_pid_dpi_uPure_c20250401__20260331_z4zOLsxtNNq1" style="text-align: right" title="Other foreign jurisdictions">0.90</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationTaxCreditsOther_pn3n3_msITEBzUaV_zWZSRF3WbmM4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Changes in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,759</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxCreditsOther_pid_dp_uPure_c20250401__20260331_zaEKltgnCeYk" style="text-align: right" title="Changes in valuation allowance">(10.95</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Effect of cross-border tax laws</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--IncomeTaxReconciliationTaxSubpartFIncome_pn3n3_msITEBzUaV_zKYQySrZlrMe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 10pt">Subpart F Income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--EffectiveIncomeTaxRateReconciliationSubpartFIncome_iN_pid_dpi_uPure_c20250401__20260331_z1fCXvjJqqN9" style="text-align: right" title="Subpart F Income">(0.02</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Nontaxable or nondeductible items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--EffectiveIncomeTaxRateReconciliationDifferenceShareBasedCompensationExcessTaxBenefitAmount_pn3n3_maITEBzUaV_z2jxG5Lijki8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 10pt">Share-based payment awards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,878</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--EffectiveIncomeTaxRateReconciliationDifferenceShareBasedCompensationExcessTaxBenefitPercent_iN_pid_dpi_uPure_c20250401__20260331_zcOHtY9CV2k9" style="text-align: right" title="Share-based payment awards">(5.47</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--IncomeTaxReconciliationDifferenceOtherAdjustments_pn3n3_maITEBzUaV_z8fwdzqDUi9a" style="vertical-align: bottom; background-color: White"> <td style="text-indent: 0pt; padding-left: 10pt">Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">293</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--EffectiveIncomeTaxRateReconciliationDifferenceOtherAdjustments_iN_pid_dpi_uPure_c20250401__20260331_zjcogF9fNaWf" style="text-align: right" title="Other">(0.85</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--IncomeTaxReconciliationDifferenceOtherReconcilingItems_pn3n3_maITEBzUaV_zpssULizKaLk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Other adjustments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">346</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--EffectiveIncomeTaxRateReconciliationDifferenceOtherReconcilingItemsPercent_iN_pid_dpi_uPure_c20250401__20260331_zYUlD6ISgii6" style="border-bottom: Black 1pt solid; text-align: right" title="Other adjustments">(1.01</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 0pt; padding-left: 0pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxExpenseBenefit_iT_pn3n3_mtITEBzUaV_zTL6ep64Xhqj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Provision for income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1952">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_c20250401__20260331_zgCeK0OrfWD2" style="border-bottom: Black 2.5pt double; text-align: right" title="Other adjustments">0.00</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> <p id="xdx_8AC_zT3o1gYW48q9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zZO1ZpwSPAT2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reconciliation of income tax expense calculated at the federal enacted statutory income tax rate of 21% is as follows for the year ended March 31 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BE_z6TWAqXJARvi" style="display: none">SCHEDULE OF STATUTORY US FEDERAL EFFECTIVE RATE</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240401__20250331_zclPp73dxxf4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31, 2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_ecustom--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRates_iN_pid_dpi_uPure_maancd_z5YdzhxqsDTe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 77%; text-align: left">Federal income tax at statutory rate</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 19%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_maancd_zfuIl3OK4d96" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State income tax, net of federal benefit</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.73</td><td style="text-align: left"></td></tr> <tr id="xdx_406_eus-gaap--EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_pid_dp_uPure_maancd_zkTjVegcMzhd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Permanent items</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.58</td><td style="text-align: left"></td></tr> <tr id="xdx_405_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_iN_pid_dpi_uPure_maancd_zZQ5gY3Ikow8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Non-deductible compensation</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10.45</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_iN_pid_dpi_uPure_maancd_z2xfmwl9ERYh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Change in valuation allowance</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10.46</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxCreditsResearch_pid_dp_uPure_msancd_zlYSTgFCY1t2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Research and development tax credits</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.12</td><td style="text-align: left"></td></tr> <tr id="xdx_401_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_iN_pid_dpi_uPure_maancd_z2RpVoJJqTE3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Foreign tax rate differential</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.65</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_iN_pid_dpi_uPure_maancd_z9DaXmyYvOUf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Other</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2.87</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_ecustom--EffectiveIncomeTaxRateReconciliationChangeToForeignNetOperatingLoss_pid_dp_uPure_maancd_zm7BOtXE93a3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Change to foreign NOL’s</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1974">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtancd_zDncT245Hms5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Effective income tax expense rate</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.00</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> <p id="xdx_8AB_zcrMT1YsFO1a" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Taxes paid across all jurisdictions were immaterial for all periods presented.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 4, 2025, the One Big Beautiful Bill Act (the “OBBBA”) was signed into law. The OBBBA includes significant tax provisions, including the permanent extension of certain provisions of the Tax Cuts and Jobs Act of 2017 (“TCJA”), modifications to the international tax framework, and the restoration of favorable tax treatment for certain business expenditures. The legislation contains multiple effective dates, with certain provisions effective for tax years beginning in 2025 and others phased in through 2027.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has evaluated the provisions of the OBBBA and their applicability to its operations. Based on this assessment, the OBBBA did not have a material impact on the Company’s consolidated financial statements for the fiscal year ended March 31, 2026. The Company will continue to monitor regulatory guidance and assess the potential impact of provisions with future effective dates on its consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 185000000.0 30900000 10200000 3500000 1400000 183600000 0.80 89600000 expiring during the years from 2036 to 2043 27200000 3300000 expiring during the years from 2038 to 2042 0.25 800000 This limitation would generally apply in the event of a cumulative change in ownership of the Company of more than 50% within a three-year period. <p id="xdx_890_eus-gaap--ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock_zNLfHyoe1cL5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The components of net loss before the provision for income taxes are as follows (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B3_zIJHDNGoDaSe" style="display: none">SCHEDULE OF PROFIT (LOSS) BEFORE TAXES</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250401__20260331_zxB4ZQUTwzIj" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For the Year</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>March 31,</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2026</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240401__20250331_zVAMGKvLM326" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>For the Year</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Ended</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>March 31,</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>2025</b></span></p></td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40E_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_maCITEBzGXx_zjogKc9EmxT4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Domestic</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(27,066</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(42,186</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_maCITEBzGXx_z2q1Y7cILYui" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,268</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,293</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_mtCITEBzGXx_zQEImN4wkX2a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(34,334</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(48,479</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> -27066000 -42186000 -7268000 -6293000 -34334000 -48479000 <p id="xdx_898_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zZjOPK0bXZmf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets were as follows (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B8_zNonrJrOSKbj" style="display: none">SCHEDULE OF DEFERRED TAX ASSET/LIABILITY</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260331_zllFfvIlsgTh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2026</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250331_zH5Q6jejfeY9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31,</p> <p style="margin-top: 0; margin-bottom: 0">2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pn3n3_maDTAGz1sA_zL1Z4GsGKgkb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net operating loss carryforwards</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">55,607</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">48,702</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_iI_pn3n3_maDTAGz1sA_znnSsjr9QRUj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Research and development tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,506</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,197</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--ResearchAndDevelopmentTaxCreditCapitalization_iI_pn3n3_maDTAGz1sA_zI2WPQtet8x3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development tax credit capitalization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,572</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,066</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsOther_iI_pn3n3_maDTAGz1sA_z2scwFmtHa5" style="vertical-align: bottom; background-color: White"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(111</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--DeferredTaxAssetsTaxDeferredExpenseCompensationAndDepreciation_iI_pn3n3_maDTAGz1sA_zPSD444Stk56" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,803</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,337</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_pn3n3_maDTAGz1sA_z2ADsIKu6imb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,714</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,556</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--DeferredTaxAssetsReservesAndAccruels_iI_pn3n3_maDTAGz1sA_zuLImAvDWkO2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Reserves and accruals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--DeferredTaxAssetsRightofuseAsset_iI_pn3n3_maDTAGz1sA_z49r2VUBTyRl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Right-of-use asset</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(282</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(298</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--DeferredTaxAssetsLeaseLiability_iI_pn3n3_maDTAGz1sA_ziQc5X8Kf8j6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Lease liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">314</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">333</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsGross_iTI_pn3n3_maDTALNzJp8_mtDTAGz1sA_zbZ8VTOv1jya" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net deferred tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">69,550</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64,240</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pn3n3_di_msDTALNzJp8_z4uqPMwirJv" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(69,550</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(64,240</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_pn3n3_mtDTALNzJp8_zfAyL6nNPT1e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Net deferred tax asset</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1893">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1894">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> 55607000 48702000 2506000 2197000 6572000 8066000 -111000 -15000 -1803000 -2337000 6714000 7556000 33000 36000 -282000 -298000 314000 333000 69550000 64240000 69550000 64240000 <p id="xdx_897_ecustom--ScheduleOfDifferenceEffectiveIncomeTaxRateReconciliationTableTextBlock_zoRiUd8BE8gb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table presents the principal reasons for the difference between the effective tax rate and the U.S. federal enacted statutory income tax rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIElOQ09NRSBUQVhFUyAoRGV0YWlscyBOYXJyYXRpdmUpAA__" id="xdx_905_ecustom--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRates_pid_dp_uPure_c20250401__20260331_zmMXL9IdAiP" title="Federal income tax rate">21</span>% for the year ended March 31, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BC_z0aG5edMi1p3" style="display: none">SCHEDULE OF DIFFERENCE EFFECTIVE INCOME TAX RATE</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250401__20260331_zF8Hw48YEEAb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percent</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percent</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_pn3n3_maITEBzUaV_zb2NKG1uDnL3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; text-indent: 0pt; padding-left: 0pt">U.S. federal statutory tax rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(7,210</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20250401__20260331_zTy0B0cm9yB9" style="width: 16%; text-align: right" title="U.S. federal statutory tax rate">21.00</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40C_ecustom--IncomeTaxReconciliationDifferenceStateAndLocalIncomeTaxes_pn3n3_maITEBzUaV_zjl1AesKcEP4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Current state and local income taxes, net of federal benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1904">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--EffectiveIncomeTaxRateReconciliationDifferenceStateAndLocalIncomeTaxes_pid_dp_uPure_c20250401__20260331_zjNpHs698BZk" style="text-align: right" title="Current state and local income taxes, net of federal benefit"><span style="-sec-ix-hidden: xdx2ixbrl1906">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Foreign Tax Effects</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 0pt; padding-left: 10pt">Ireland</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_pn3n3_hsrt--StatementGeographicalAxis__country--IE_zt0Laqf10zx7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 20pt">Change in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">440</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_iN_pid_dpi_uPure_c20250401__20260331__srt--StatementGeographicalAxis__country--IE_zn3rzANx1XP8" style="text-align: right" title="Change in valuation allowance">(1.28</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--IncomeTaxReconciliationOtherAdjustments_pn3n3_hsrt--StatementGeographicalAxis__country--IE_z9jkx9jgZP7" style="vertical-align: bottom; background-color: White"> <td style="text-indent: 0pt; padding-left: 20pt">Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">235</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_iN_pid_dpi_uPure_c20250401__20260331__srt--StatementGeographicalAxis__country--IE_zXIOqsaaI4sj" style="text-align: right" title="Other">(0.69</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 0pt; padding-left: 10pt">Israel</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_pn3n3_hsrt--StatementGeographicalAxis__country--IL_maITEBzUaV_zq2weZSM9Nk5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 20pt">Change in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">371</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_iN_pid_dpi_uPure_c20250401__20260331__srt--StatementGeographicalAxis__country--IL_zFCvdfFx5DQ9" style="text-align: right" title="Change in valuation allowance">(1.08</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationOtherAdjustments_pn3n3_hsrt--StatementGeographicalAxis__country--IL_maITEBzUaV_zTsqgrFydRuc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 0pt; padding-left: 20pt">Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_iN_pid_dpi_uPure_c20250401__20260331__srt--StatementGeographicalAxis__country--IL_zaRkF3HMSD61" style="text-align: right" title="Other">(0.29</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxReconciliationOtherReconcilingItems_pn3n3_maITEBzUaV_zpeZ9pXeYC6e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 10pt">Other foreign jurisdictions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">88</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent_iN_pid_dpi_uPure_c20250401__20260331_zZWVvzKz8NUh" style="text-align: right" title="Other foreign jurisdictions">(0.26</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--IncomeTaxReconciliationDifferenceTaxCreditsResearch_iN_pn3n3_di_msITEBzUaV_zHeUTb8N4yp" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 10pt">Research and development tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(308</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--EffectiveIncomeTaxRateReconciliationDifferenceTaxCreditsResearch_iN_pid_dpi_uPure_c20250401__20260331_z4zOLsxtNNq1" style="text-align: right" title="Other foreign jurisdictions">0.90</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationTaxCreditsOther_pn3n3_msITEBzUaV_zWZSRF3WbmM4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Changes in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,759</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxCreditsOther_pid_dp_uPure_c20250401__20260331_zaEKltgnCeYk" style="text-align: right" title="Changes in valuation allowance">(10.95</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Effect of cross-border tax laws</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--IncomeTaxReconciliationTaxSubpartFIncome_pn3n3_msITEBzUaV_zKYQySrZlrMe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 10pt">Subpart F Income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--EffectiveIncomeTaxRateReconciliationSubpartFIncome_iN_pid_dpi_uPure_c20250401__20260331_z1fCXvjJqqN9" style="text-align: right" title="Subpart F Income">(0.02</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 0pt; padding-left: 0pt">Nontaxable or nondeductible items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--EffectiveIncomeTaxRateReconciliationDifferenceShareBasedCompensationExcessTaxBenefitAmount_pn3n3_maITEBzUaV_z2jxG5Lijki8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 0pt; padding-left: 10pt">Share-based payment awards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,878</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--EffectiveIncomeTaxRateReconciliationDifferenceShareBasedCompensationExcessTaxBenefitPercent_iN_pid_dpi_uPure_c20250401__20260331_zcOHtY9CV2k9" style="text-align: right" title="Share-based payment awards">(5.47</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_ecustom--IncomeTaxReconciliationDifferenceOtherAdjustments_pn3n3_maITEBzUaV_z8fwdzqDUi9a" style="vertical-align: bottom; background-color: White"> <td style="text-indent: 0pt; padding-left: 10pt">Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">293</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--EffectiveIncomeTaxRateReconciliationDifferenceOtherAdjustments_iN_pid_dpi_uPure_c20250401__20260331_zjcogF9fNaWf" style="text-align: right" title="Other">(0.85</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--IncomeTaxReconciliationDifferenceOtherReconcilingItems_pn3n3_maITEBzUaV_zpssULizKaLk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt">Other adjustments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">346</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--EffectiveIncomeTaxRateReconciliationDifferenceOtherReconcilingItemsPercent_iN_pid_dpi_uPure_c20250401__20260331_zYUlD6ISgii6" style="border-bottom: Black 1pt solid; text-align: right" title="Other adjustments">(1.01</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 0pt; padding-left: 0pt"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxExpenseBenefit_iT_pn3n3_mtITEBzUaV_zTL6ep64Xhqj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt">Provision for income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1952">-</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_c20250401__20260331_zgCeK0OrfWD2" style="border-bottom: Black 2.5pt double; text-align: right" title="Other adjustments">0.00</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> 0.21 -7210000 0.2100 440000 0.0128 235000 0.0069 371000 0.0108 101000 0.0029 88000 0.0026 308000 -0.0090 3759000 -0.1095 7000 0.0002 1878000 0.0547 293000 0.0085 346000 0.0101 0.0000 <p id="xdx_89C_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zZO1ZpwSPAT2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reconciliation of income tax expense calculated at the federal enacted statutory income tax rate of 21% is as follows for the year ended March 31 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BE_z6TWAqXJARvi" style="display: none">SCHEDULE OF STATUTORY US FEDERAL EFFECTIVE RATE</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240401__20250331_zclPp73dxxf4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="margin-top: 0; margin-bottom: 0">March 31, 2025</p></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_ecustom--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRates_iN_pid_dpi_uPure_maancd_z5YdzhxqsDTe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 77%; text-align: left">Federal income tax at statutory rate</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 19%; text-align: right">21.00</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_uPure_maancd_zfuIl3OK4d96" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State income tax, net of federal benefit</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.73</td><td style="text-align: left"></td></tr> <tr id="xdx_406_eus-gaap--EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent_pid_dp_uPure_maancd_zkTjVegcMzhd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Permanent items</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.58</td><td style="text-align: left"></td></tr> <tr id="xdx_405_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpense_iN_pid_dpi_uPure_maancd_zZQ5gY3Ikow8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Non-deductible compensation</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10.45</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_iN_pid_dpi_uPure_maancd_z2xfmwl9ERYh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Change in valuation allowance</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10.46</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxCreditsResearch_pid_dp_uPure_msancd_zlYSTgFCY1t2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Research and development tax credits</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.12</td><td style="text-align: left"></td></tr> <tr id="xdx_401_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_iN_pid_dpi_uPure_maancd_z2RpVoJJqTE3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Foreign tax rate differential</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.65</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_iN_pid_dpi_uPure_maancd_z9DaXmyYvOUf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Other</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2.87</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_ecustom--EffectiveIncomeTaxRateReconciliationChangeToForeignNetOperatingLoss_pid_dp_uPure_maancd_zm7BOtXE93a3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Change to foreign NOL’s</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1974">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtancd_zDncT245Hms5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Effective income tax expense rate</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.00</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> -0.2100 0.0273 0.0058 0.1045 0.1046 0.0012 0.0065 0.0287 0.0000 <p id="xdx_807_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zULR8jPfhpQ5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 12 <span id="xdx_82C_zrwgeOAWCRvh">COMMITMENTS AND CONTINGENCIES</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>License Agreements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In August 2015, Beyond Air Ltd., a wholly-owned subsidiary of the Company (“BA Ltd.”) entered into an Option Agreement (the “Option Agreement”) with Pulmonox Technologies Corporation (“Pulmonox”) whereby BA Ltd. acquired the option (the “Option”) to purchase certain intellectual property assets and rights. On January 13, 2017, BA Ltd. exercised the Option and paid $<span id="xdx_90B_ecustom--PaymentsForDevelopmentAndMilestonePayment_pn5n6_c20170112__20170113__us-gaap--TypeOfArrangementAxis__custom--OptionAgreementMember_zudNIE6PbzKd" title="Payments for development and milestone payment">0.5</span> million to Pulmonox. BA Ltd. became obligated to make certain one-time development and sales milestone payments to Pulmonox, commencing with the date on which BA Ltd. receives regulatory approval for the commercial sale of the first product candidate qualifying under the Option Agreement. These milestone payments are capped at a total of $<span id="xdx_905_ecustom--MilestonePayments_pn6n6_c20170112__20170113__us-gaap--TypeOfArrangementAxis__custom--OptionAgreementMember_zv6nmTh67RZf" title="Milestone payments">87</span> million across three separate and distinct indications that fall under the agreement, with the majority of them, approximately $<span id="xdx_902_ecustom--SalesRelatedMilestonesPayments_pn6n6_c20170112__20170113__us-gaap--TypeOfArrangementAxis__custom--OptionAgreementMember_zM49v1QyKc4g" title="Sales related milestones payments">83</span> million, being sales-related based on cumulative sales milestones for each of the three products. BA Ltd. is not currently developing any qualifying products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 31, 2018, the Company entered into an agreement (the “NitricGen Agreement”) with NitricGen, Inc. (“NitricGen”) to acquire a global, exclusive, transferable license and associated assets including intellectual property, know-how, trade secrets and confidential information from NitricGen related to the LungFit^®. The Company acquired the licensing right to use the technology and agreed to pay NitricGen a total of $<span id="xdx_902_ecustom--MilestonePayments_pn5n6_c20180130__20180131__dei--LegalEntityAxis__custom--NitricGenIncMember__us-gaap--TypeOfArrangementAxis__custom--NitricGenAgreementMember_zMa61sn70Ild" title="Future payments based on certain milestones">2.0</span> million in future payments based upon achieving certain milestones, as defined in the NitricGen Agreement, and single-digit royalties on sales of the LungFit^®. The Company paid NitricGen $<span id="xdx_905_ecustom--PaymentForMilestoneMethodRevenueRecognized_pn5n6_c20180130__20180131__us-gaap--TypeOfArrangementAxis__custom--NitricGenAgreementMember__dei--LegalEntityAxis__custom--NitricGenIncMember_zXlV4mRAxEx4" title="Payment for Milestone method revenue recognized">0.1 </span>million upon the execution of the NitricGen Agreement, $<span id="xdx_90B_ecustom--PaymentForMilestoneMethodRevenueRecognized_pn5n6_c20180130__20180131__dei--LegalEntityAxis__custom--NitricGenIncMember__us-gaap--TypeOfArrangementAxis__custom--NitricGenAgreementMember__us-gaap--AwardDateAxis__custom--NextMilestonesMember_zVUSrIjhD0ua" title="Payment for Milestone method revenue recognized">0.1</span> million upon achieving the next milestone and $<span id="xdx_901_ecustom--PaymentForMilestoneMethodRevenueRecognized_pn5n6_c20180130__20180131__us-gaap--TypeOfArrangementAxis__custom--NitricGenAgreementMember__us-gaap--AwardDateAxis__custom--AfterSixMonthsMember__dei--LegalEntityAxis__custom--NitricGenIncMember_zFtV2xaT1ikd" title="Future payments based on certain milestones">1.5</span> million in January 2023, six months after approval of the LungFit^®by the FDA, and issued <span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pp0p0_c20180131__dei--LegalEntityAxis__custom--NitricGenIncMember__us-gaap--TypeOfArrangementAxis__custom--NitricGenAgreementMember_z0tpDPjUmhn" title="Warrants to purchase common stock">100,000</span> warrants to purchase the Company’s common stock valued at $<span id="xdx_904_eus-gaap--WarrantsAndRightsOutstanding_iI_pn5n6_c20180131__dei--LegalEntityAxis__custom--NitricGenIncMember__us-gaap--TypeOfArrangementAxis__custom--NitricGenAgreementMember_zLbX0YfyYeM6" title="Warrants to purchase common stock, value">0.3</span> million upon executing the NitricGen Agreement. As of March 31, 2026, the remaining future milestone payments total $<span id="xdx_901_ecustom--MilestonePayments_pn5n6_c20240401__20250331__us-gaap--TypeOfArrangementAxis__custom--NitricGenAgreementMember_zAGAgqkmf932" title="Remaining future milestone payments">0.3</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Supply Agreement and Purchase Order</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In August 2020, the Company entered into a supply agreement with an initial expiration date of December 31, 2024. The Company has opened several non-cancellable purchase orders and the outstanding amount remaining under the purchase order as of March 31, 2026 was approximately $<span id="xdx_904_eus-gaap--PurchaseObligation_iI_pn5n6_c20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierMember_zCzR94Su0Cc3" title="Outstanding amount under purchase">0.5</span> million with this supplier. This supplier holds $<span id="xdx_90A_eus-gaap--DepositAssets_iI_pn5n6_c20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierMember_zUG20OVBzI0h" title="Cash deposits">3.4</span> million of restricted cash to partially secure materials on the Company’s behalf recorded in other current assets and prepaid expenses. This agreement will expire on March 31, 2027. At that time all excess inventory will be returned to the Company and any excess restricted cash will be released.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company entered into a new supply agreement with Plexus Corp. for the manufacturing of its second generation device and service of all devices beginning on April 1, 2027.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Contingencies</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time, the Company is involved in various legal matters arising in the normal course of business. The Company does not expect the outcome of such proceedings, either individually or in the aggregate, to have a material effect on its financial position, cash flows or results of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 500000 87000000 83000000 2000000.0 100000 100000 1500000 100000 300000 300000 500000 3400000 <p id="xdx_80A_eus-gaap--SegmentReportingDisclosureTextBlock_zWaHnwDxRDnc" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 13 <span id="xdx_826_z7PRuJXLaYK9">SEGMENTS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 4, 2021, the Company announced that Beyond Air and Beyond Cancer, Ltd agreed to terms to which the Company, through its subsidiaries would be licensing certain intellectual property and other assets related to, or necessary for the development, commercialization, manufacture and distribution of certain cancer treatment products and/or technologies to a subsidiary of the Company (the “2021 Transaction”). In connection and concurrently with the closing of the 2021 Transaction, Beyond Cancer issued and sold common shares, par value $<span id="xdx_90A_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20211104__dei--LegalEntityAxis__custom--BeyondCancerLtdMember__srt--TitleOfIndividualAxis__custom--CertainInvestorsMember_zBnRPrEDnaYj" title="Sle of stock per share">1.00</span> to certain investors pursuant to a subscription agreement (the “2021 Offering”). The 2021 Offering consisted of an aggregate of <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pn6n6_c20211102__20211104__dei--LegalEntityAxis__custom--BeyondCancerLtdMember_zBdh0Uh3aUyh" title="Number of shares issued">3 </span>million common shares of Beyond Cancer at a purchase price of $<span id="xdx_90B_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20211104__dei--LegalEntityAxis__custom--BeyondCancerLtdMember_zcVOfNO3lY0k" title="Shares issued price per share">10.00</span> per share. On November 18, 2021, the Company announced that the maximum amount of shares offered had been purchased for a total of $<span id="xdx_908_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn6n6_c20211116__20211118__dei--LegalEntityAxis__custom--BeyondCancerLtdMember_ztvWMCK1QWy7" title="Proceeds from issuance of common stock">30</span> million (including $<span id="xdx_907_ecustom--AmountOfTerminatedLoan_pn5n6_c20211116__20211118__dei--LegalEntityAxis__custom--BeyondCancerLtdMember_z9klbz9tOtC4" title="Amount of terminated loan">4.8</span> million from the terminated Loan Facility and $<span id="xdx_90C_eus-gaap--ProceedsFromRelatedPartyDebt_pn5n6_c20211116__20211118__dei--LegalEntityAxis__custom--BeyondCancerLtdMember_zmEWJGUo1HJc" title="Proceeds from related party debt">1.1</span> million from related parties) for <span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20211104__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BeyondCancerLtdMember__srt--TitleOfIndividualAxis__custom--InvestorsMember_zmqjedVuAQx2" title="Equity, ownership percentage">20</span>% of the equity in Beyond Cancer. The Company retained <span id="xdx_90B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20211104__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BeyondCancerLtdMember_zXDMFuY96PV9" title="Equity, ownership percentage">80</span>% ownership of Beyond Cancer, which will have exclusive right to the intellectual property portfolio utilizing UNO for the treatment of solid tumors. Beyond Cancer will pay Beyond Air a single digit royalty on all future revenues.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Members of the Board of Directors of Beyond Air who are also members of the Board of Directors of Beyond Cancer, and their families, are considered related parties to the 2021 Offering. Related parties invested $<span id="xdx_90E_eus-gaap--OtherReceivables_iI_pn5n6_c20211104__dei--LegalEntityAxis__custom--BeyondCancerLtdMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zB6EiR63vtj7" title="Related party invested">1.1</span> million in the 2021 Offering.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 24, 2025, the Company announced that Beyond Air and NeuroNos Limited agreed to terms to which the Company, through its subsidiaries would be licensing certain intellectual property and other assets related to, or necessary for the development, commercialization, manufacture and distribution of certain neurological treatment products and/or technologies to a subsidiary of the Company (the “2025 Transaction”). In connection and concurrently with the closing of the 2025 Transaction, NeuroNos issued and sold common shares, par value $<span id="xdx_90F_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20250324__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember_z9rSsC0H6jSe" title="Common stock, par value">0.001</span> to certain investors pursuant to a subscription agreement (the “2025 Offering”). The 2025 Offering consisted of an aggregate of <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250324__20250324__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember_zmry5MeFyxok" title="Number of shares issued">666,667</span> common shares of NeuroNos at a purchase price of $<span id="xdx_905_eus-gaap--SharePrice_iI_c20250324__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember_zeKQrGgnY1fe" title="Per share price">3.00</span> per share. On March 31, 2025, the offered shares had been purchased for a total of $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20240401__20250331__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember_z1kYqCtaezhf" title="Proceeds from issuance of common stock">2.0</span> million for <span id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20250331__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NeuroNosLtdMember_zBqkQYrjI9Qa" title="Equity ownership percentage">11.76</span>% of the equity in NeuroNos. During the year ended March 31, 2026, an additional <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250401__20260331__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember_zikgfPzEKlf8" title="Number of shares issued">233,333</span> common shares of NeuroNos were issued and sold to certain investors at a purchase price of $<span id="xdx_90B_eus-gaap--SharePrice_iI_c20260331__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember_zLOJgFx6U5B9" title="Per share price">3.00</span> per share. As of March 31, 2026, <span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20260331__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NeuroNosLtdMember_zULQlSUxhmi6" title="Equity ownership percentage">15.25</span>% of the equity in NeuroNos was held by non-controlling interests. Beyond Air retained <span id="xdx_900_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20260321__us-gaap--TypeOfArrangementAxis__custom--SubscriptionAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NeuroNosLtdMember_zA79IQmRIqPj" title="Equity ownership percentage">84.75</span>% ownership of NeuroNos and will have exclusive right to the intellectual property portfolio for the regulation of nitric oxide as it relates to neurological therapies. NeuroNos will pay Beyond Air a single digit royalty on all future revenues.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 13 SEGMENTS (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_hus-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zi35rnQZDH44" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes segment financial information by business segment for the year ended and at March 31, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zZcAXe4hCHL7" style="display: none">SCHEDULE OF SEGMENT FINANCIAL INFORMATION BY BUSINESS SEGMENT</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250401__20260331__dei--LegalEntityAxis__custom--BeyondAirMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zgNStXblWzyk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beyond Air</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250401__20260331__dei--LegalEntityAxis__custom--BeyondCancerLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zrohAMv6szfk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beyond Cancer</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250401__20260331__dei--LegalEntityAxis__custom--NeuroNosLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zW4cVuxAUe2e" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NeuroNos</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250401__20260331__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zfzya6K0k5If" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Capital expenditures</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_ecustom--CapitalExpendituresCost_iI_pn3n3_c20260331__dei--LegalEntityAxis__custom--BeyondAirMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zaRmoaTQJekb" style="width: 11%; text-align: right" title="Capital expenditures">1,024</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_ecustom--CapitalExpendituresCost_iI_pn3n3_c20260331__dei--LegalEntityAxis__custom--BeyondCancerLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zJ4ykdiSy4E6" style="width: 11%; text-align: right" title="Capital expenditures"><span style="-sec-ix-hidden: xdx2ixbrl2046">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_ecustom--CapitalExpendituresCost_iI_pn3n3_c20260331__dei--LegalEntityAxis__custom--NeuroNosLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zqfUEiOI5Ytd" style="width: 11%; text-align: right" title="Capital expenditures">2</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_ecustom--CapitalExpendituresCost_iI_pn3n3_c20260331__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zPOCp9oyeNOk" style="width: 11%; text-align: right" title="Capital expenditures">1,026</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zYC7W16bsKIb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenues</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,679</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2053">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2054">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,679</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--CostOfRevenue_iN_pn3n3_di_zsF7fuTED9V5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,427</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2058">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2059">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,427</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--ResearchAndDevelopmentExpense_iN_pn3n3_di_zv81KCo3nG5e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,677</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,170</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,394</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,241</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--SellingGeneralAndAdministrativeExpense_iN_pn3n3_di_zU1UMJJfVMkg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Selling, general, and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,418</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,207</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,430</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,055</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--OperatingIncomeLoss_pn3n3_z5DvcCbw0551" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(22,843</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,377</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,824</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(29,044</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--InterestExpenseNonoperating_iN_pn3n3_di_zwm6AW51Md8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest and finance expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,515</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2078">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2079">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,515</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--OtherNonoperatingIncomeExpense_pn3n3_ztk81NjYlHV7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Other non-operating income/(expense)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,668</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(323</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">216</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,775</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--NetIncomeLoss_pn3n3_zOPF7kgxtz2a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss before income taxes</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(28,026</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,700</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(2,608</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(34,334</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating activities included in net loss:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DepreciationAndAmortization_pn3n3_z9J9woXZHIW5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,228</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">23</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2094">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,251</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ShareBasedCompensation_pn3n3_zeJR6trJe1Z8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Stock-based compensation expense</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,813</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,373</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">96</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,282</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_zbbBYU29PRel" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash used in operations</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(14,775</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,314</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(2,055</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(18,144</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInInvestingActivities_pn3n3_z3RK8MDJS42i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash used in (provided by) investing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,660</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">988</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,674</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--NetCashProvidedByUsedInFinancingActivities_pn3n3_zh70pOLjOBnd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash provided by financing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,390</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2113">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">700</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,090</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent_pn3n3_zYgHbHhOoasj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Impact of exchange rates</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">228</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">164</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(198</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">194</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_pn3n3_zw5LfUvnRZbe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net change for the year</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">9,183</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(162</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,555</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,466</td><td style="text-align: left"></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes segment financial information by business segment for the year ended and at March 31, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240401__20250331__dei--LegalEntityAxis__custom--BeyondAirMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zDUICAtIvEQ9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beyond Air</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240401__20250331__dei--LegalEntityAxis__custom--BeyondCancerLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zCttKZP1DMJf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beyond Cancer</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240401__20250331__dei--LegalEntityAxis__custom--NeuroNosLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zrtcmnTEofrl" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NeuroNos</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240401__20250331__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zxYQug0DaJD1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Capital expenditures</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_ecustom--CapitalExpendituresCost_iI_pn3n3_c20250331__dei--LegalEntityAxis__custom--BeyondAirMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_z5bLU8nNP0Qk" style="width: 11%; text-align: right" title="Capital expenditures">5,859</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_ecustom--CapitalExpendituresCost_iI_pn3n3_c20250331__dei--LegalEntityAxis__custom--BeyondCancerLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zyTaBK3RHHF4" style="width: 11%; text-align: right" title="Capital expenditures">24</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_ecustom--CapitalExpendituresCost_iI_pn3n3_c20250331__dei--LegalEntityAxis__custom--NeuroNosLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_z9aaCtJIZigl" style="width: 11%; text-align: right" title="Capital expenditures"><span style="-sec-ix-hidden: xdx2ixbrl2131">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_ecustom--CapitalExpendituresCost_iI_pn3n3_c20250331__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zZWsdloUZI1i" style="width: 11%; text-align: right" title="Capital expenditures">5,883</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zj9qM7N2ZII6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenues</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,705</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2136">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2137">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,705</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--CostOfRevenue_iN_pn3n3_di_zYttFNkJGdmi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,368</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2141">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2142">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,368</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--ResearchAndDevelopmentExpense_iN_pn3n3_di_zkl7QSK36Gvh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(13,780</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,062</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,857</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--SellingGeneralAndAdministrativeExpense_iN_pn3n3_di_z4VhBJnqO6Q8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Selling, general, and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,565</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,344</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(108</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,017</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--OperatingIncomeLoss_pn3n3_zRjKyHfJzj02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(35,008</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,406</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(123</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(44,537</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--InterestExpenseNonoperating_iN_pn3n3_di_zRE84GqWecie" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest and finance expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,019</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2161">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2162">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,019</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--OtherNonoperatingIncomeExpense_pn3n3_zsOS9HV5kXQ8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Other non-operating income/(expense)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,132</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">209</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2167">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(923</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--NetIncomeLoss_pn3n3_z2z2DFjUjva7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss before income taxes</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(39,159</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(9,197</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(123</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(48,479</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating activities included in net loss:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DepreciationAndAmortization_pn3n3_zqq3H6aDymtb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,143</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">61</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2177">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,204</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ShareBasedCompensation_pn3n3_zQVdfhJgEsya" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Stock-based compensation expense</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,920</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">72</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">9,146</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_zYjo82QwFx87" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash used in operations</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(29,599</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(8,619</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2187">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(38,218</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInInvestingActivities_pn3n3_zAZ1ayaZF4c5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash provided by investing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,844</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2192">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,905</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--NetCashProvidedByUsedInFinancingActivities_pn3n3_z5OGb8uYgR6c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash provided by financing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,646</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2196">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,646</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent_pn3n3_zaOK9HH5cgU8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Impact of exchange rates</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(39</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2202">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(45</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_pn3n3_zNXBQkkl7Kd6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net change for the year</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,148</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(5,564</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(6,712</td><td style="text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes financial information by business segment at March 31, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260331__dei--LegalEntityAxis__custom--BeyondAirMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zkHW1x9eSm2e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beyond Air</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260331__dei--LegalEntityAxis__custom--BeyondCancerLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_z0tiVauo7HOk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beyond Cancer</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260331__dei--LegalEntityAxis__custom--NeuroNosLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_z2knifpaVRRk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NeuroNos</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260331__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zAla1t9MXcQ3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--CashCashEquivalentsAndShortTermInvestments_iI_pn3n3_zCfjlHyodPn7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Cash, cash equivalents and marketable securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">10,140</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,043</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">458</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">11,641</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherAssets_iI_pn3n3_z3ayk8KTRVHl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">All other assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">23,901</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(219</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">62</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">23,744</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--Assets_iTI_pn3n3_zlGW8DL0F2wf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">34,041</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">824</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">520</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">35,385</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Liabilities_iNI_pn3n3_di_zE1rBqqEVTYa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(28,224</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(378</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(573</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(29,175</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--AssetsNet_iI_pn3n3_zDt5YU21tEvj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Net assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">5,817</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">446</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(53</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">6,210</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--MinorityInterest_iI_pn3n3_zVnZK7fL9DEh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-controlling interest</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2235">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">64</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">84</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes financial information by business segment at March 31, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250331__dei--LegalEntityAxis__custom--BeyondAirMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zSA9AsWRpzMg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beyond Air</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250331__dei--LegalEntityAxis__custom--BeyondCancerLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zCxOqn4syFP9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beyond Cancer</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250331__dei--LegalEntityAxis__custom--NeuroNosLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zOxgLgxbG0k8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NeuroNos</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250331__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_z8gsJTjpZK0e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--CashCashEquivalentsAndShortTermInvestments_iI_pn3n3_zLnYOb3zGpcf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Cash, cash equivalents and marketable securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">2,750</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">2,167</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">2,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">6,917</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherAssets_iI_pn3n3_zW5DAdFO3a42" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">All other assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">22,116</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,029</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2247">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">23,145</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--Assets_iTI_pn3n3_zcP9z74j4n6a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">24,866</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,196</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">30,062</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Liabilities_iNI_pn3n3_di_zyKjyhnoMRT1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(15,082</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(589</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(50</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(15,721</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--AssetsNet_iI_pn3n3_zHfTWeM53Vcj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Net assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">9,784</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,607</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,950</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">14,341</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--MinorityInterest_iI_pn3n3_zhU46w6oGcCc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-controlling interest</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2265">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">529</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">229</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">758</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AC_zJAkw7x9kMB9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BEYOND AIR, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 1.00 3000000 10.00 30000000 4800000 1100000 0.20 0.80 1100000 0.001 666667 3.00 2000000.0 0.1176 233333 3.00 0.1525 0.8475 <p id="xdx_895_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_hus-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zi35rnQZDH44" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes segment financial information by business segment for the year ended and at March 31, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zZcAXe4hCHL7" style="display: none">SCHEDULE OF SEGMENT FINANCIAL INFORMATION BY BUSINESS SEGMENT</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250401__20260331__dei--LegalEntityAxis__custom--BeyondAirMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zgNStXblWzyk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beyond Air</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250401__20260331__dei--LegalEntityAxis__custom--BeyondCancerLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zrohAMv6szfk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beyond Cancer</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250401__20260331__dei--LegalEntityAxis__custom--NeuroNosLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zW4cVuxAUe2e" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NeuroNos</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250401__20260331__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zfzya6K0k5If" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Capital expenditures</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_ecustom--CapitalExpendituresCost_iI_pn3n3_c20260331__dei--LegalEntityAxis__custom--BeyondAirMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zaRmoaTQJekb" style="width: 11%; text-align: right" title="Capital expenditures">1,024</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_ecustom--CapitalExpendituresCost_iI_pn3n3_c20260331__dei--LegalEntityAxis__custom--BeyondCancerLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zJ4ykdiSy4E6" style="width: 11%; text-align: right" title="Capital expenditures"><span style="-sec-ix-hidden: xdx2ixbrl2046">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_ecustom--CapitalExpendituresCost_iI_pn3n3_c20260331__dei--LegalEntityAxis__custom--NeuroNosLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zqfUEiOI5Ytd" style="width: 11%; text-align: right" title="Capital expenditures">2</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_ecustom--CapitalExpendituresCost_iI_pn3n3_c20260331__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zPOCp9oyeNOk" style="width: 11%; text-align: right" title="Capital expenditures">1,026</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zYC7W16bsKIb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenues</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,679</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2053">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2054">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,679</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--CostOfRevenue_iN_pn3n3_di_zsF7fuTED9V5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,427</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2058">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2059">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,427</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--ResearchAndDevelopmentExpense_iN_pn3n3_di_zv81KCo3nG5e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,677</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,170</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,394</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,241</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--SellingGeneralAndAdministrativeExpense_iN_pn3n3_di_zU1UMJJfVMkg" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Selling, general, and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,418</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,207</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,430</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,055</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--OperatingIncomeLoss_pn3n3_z5DvcCbw0551" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(22,843</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,377</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,824</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(29,044</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--InterestExpenseNonoperating_iN_pn3n3_di_zwm6AW51Md8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest and finance expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,515</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2078">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2079">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,515</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--OtherNonoperatingIncomeExpense_pn3n3_ztk81NjYlHV7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Other non-operating income/(expense)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,668</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(323</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">216</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,775</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--NetIncomeLoss_pn3n3_zOPF7kgxtz2a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss before income taxes</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(28,026</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,700</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(2,608</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(34,334</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating activities included in net loss:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DepreciationAndAmortization_pn3n3_z9J9woXZHIW5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,228</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">23</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2094">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,251</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ShareBasedCompensation_pn3n3_zeJR6trJe1Z8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Stock-based compensation expense</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,813</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,373</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">96</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,282</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_zbbBYU29PRel" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash used in operations</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(14,775</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,314</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(2,055</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(18,144</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInInvestingActivities_pn3n3_z3RK8MDJS42i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash used in (provided by) investing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,660</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">988</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,674</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--NetCashProvidedByUsedInFinancingActivities_pn3n3_zh70pOLjOBnd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash provided by financing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,390</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2113">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">700</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,090</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent_pn3n3_zYgHbHhOoasj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Impact of exchange rates</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">228</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">164</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(198</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">194</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_pn3n3_zw5LfUvnRZbe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net change for the year</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">9,183</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(162</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,555</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,466</td><td style="text-align: left"></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes segment financial information by business segment for the year ended and at March 31, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20240401__20250331__dei--LegalEntityAxis__custom--BeyondAirMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zDUICAtIvEQ9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beyond Air</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240401__20250331__dei--LegalEntityAxis__custom--BeyondCancerLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zCttKZP1DMJf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beyond Cancer</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240401__20250331__dei--LegalEntityAxis__custom--NeuroNosLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zrtcmnTEofrl" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NeuroNos</b></span></p></td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240401__20250331__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zxYQug0DaJD1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Capital expenditures</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_ecustom--CapitalExpendituresCost_iI_pn3n3_c20250331__dei--LegalEntityAxis__custom--BeyondAirMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_z5bLU8nNP0Qk" style="width: 11%; text-align: right" title="Capital expenditures">5,859</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_ecustom--CapitalExpendituresCost_iI_pn3n3_c20250331__dei--LegalEntityAxis__custom--BeyondCancerLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zyTaBK3RHHF4" style="width: 11%; text-align: right" title="Capital expenditures">24</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_ecustom--CapitalExpendituresCost_iI_pn3n3_c20250331__dei--LegalEntityAxis__custom--NeuroNosLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_z9aaCtJIZigl" style="width: 11%; text-align: right" title="Capital expenditures"><span style="-sec-ix-hidden: xdx2ixbrl2131">-</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_ecustom--CapitalExpendituresCost_iI_pn3n3_c20250331__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zZWsdloUZI1i" style="width: 11%; text-align: right" title="Capital expenditures">5,883</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zj9qM7N2ZII6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Revenues</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,705</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2136">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2137">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,705</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--CostOfRevenue_iN_pn3n3_di_zYttFNkJGdmi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,368</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2141">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2142">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,368</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--ResearchAndDevelopmentExpense_iN_pn3n3_di_zkl7QSK36Gvh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(13,780</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,062</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(16,857</td><td style="text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--SellingGeneralAndAdministrativeExpense_iN_pn3n3_di_z4VhBJnqO6Q8" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Selling, general, and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,565</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,344</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(108</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,017</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--OperatingIncomeLoss_pn3n3_zRjKyHfJzj02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loss from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(35,008</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,406</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(123</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(44,537</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--InterestExpenseNonoperating_iN_pn3n3_di_zRE84GqWecie" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Interest and finance expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,019</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2161">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2162">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,019</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--OtherNonoperatingIncomeExpense_pn3n3_zsOS9HV5kXQ8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Other non-operating income/(expense)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,132</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">209</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2167">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(923</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--NetIncomeLoss_pn3n3_z2z2DFjUjva7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss before income taxes</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(39,159</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(9,197</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(123</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(48,479</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating activities included in net loss:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DepreciationAndAmortization_pn3n3_zqq3H6aDymtb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,143</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">61</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2177">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,204</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ShareBasedCompensation_pn3n3_zQVdfhJgEsya" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Stock-based compensation expense</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,920</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,154</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">72</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">9,146</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_zYjo82QwFx87" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash used in operations</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(29,599</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(8,619</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2187">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(38,218</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--NetCashProvidedByUsedInInvestingActivities_pn3n3_zAZ1ayaZF4c5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash provided by investing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,844</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,061</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2192">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,905</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--NetCashProvidedByUsedInFinancingActivities_pn3n3_z5OGb8uYgR6c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash provided by financing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,646</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2196">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,646</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent_pn3n3_zaOK9HH5cgU8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Impact of exchange rates</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(39</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2202">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(45</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_pn3n3_zNXBQkkl7Kd6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net change for the year</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(3,148</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(5,564</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(6,712</td><td style="text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes financial information by business segment at March 31, 2026:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260331__dei--LegalEntityAxis__custom--BeyondAirMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zkHW1x9eSm2e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beyond Air</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260331__dei--LegalEntityAxis__custom--BeyondCancerLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_z0tiVauo7HOk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beyond Cancer</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260331__dei--LegalEntityAxis__custom--NeuroNosLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_z2knifpaVRRk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NeuroNos</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260331__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zAla1t9MXcQ3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--CashCashEquivalentsAndShortTermInvestments_iI_pn3n3_zCfjlHyodPn7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Cash, cash equivalents and marketable securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">10,140</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,043</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">458</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">11,641</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherAssets_iI_pn3n3_z3ayk8KTRVHl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">All other assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">23,901</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(219</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">62</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">23,744</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--Assets_iTI_pn3n3_zlGW8DL0F2wf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">34,041</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">824</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">520</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">35,385</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Liabilities_iNI_pn3n3_di_zE1rBqqEVTYa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(28,224</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(378</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(573</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(29,175</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--AssetsNet_iI_pn3n3_zDt5YU21tEvj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Net assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">5,817</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">446</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(53</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">6,210</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--MinorityInterest_iI_pn3n3_zVnZK7fL9DEh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-controlling interest</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2235">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">64</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">84</td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes financial information by business segment at March 31, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250331__dei--LegalEntityAxis__custom--BeyondAirMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zSA9AsWRpzMg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beyond Air</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250331__dei--LegalEntityAxis__custom--BeyondCancerLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zCxOqn4syFP9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Beyond Cancer</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250331__dei--LegalEntityAxis__custom--NeuroNosLtdMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_zOxgLgxbG0k8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NeuroNos</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20250331__srt--ConsolidatedEntitiesAxis__srt--ParentCompanyMember__us-gaap--StatementBusinessSegmentsAxis__custom--SegmentMember__us-gaap--AwardTypeAxis__custom--VariableInterestEntitiesMember_z8gsJTjpZK0e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--CashCashEquivalentsAndShortTermInvestments_iI_pn3n3_zLnYOb3zGpcf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Cash, cash equivalents and marketable securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">2,750</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">2,167</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">2,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">6,917</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherAssets_iI_pn3n3_zW5DAdFO3a42" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">All other assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">22,116</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,029</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2247">-</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">23,145</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--Assets_iTI_pn3n3_zcP9z74j4n6a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">24,866</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">3,196</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">30,062</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Liabilities_iNI_pn3n3_di_zyKjyhnoMRT1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(15,082</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(589</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(50</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(15,721</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--AssetsNet_iI_pn3n3_zHfTWeM53Vcj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Net assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">9,784</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,607</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,950</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">14,341</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--MinorityInterest_iI_pn3n3_zhU46w6oGcCc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-controlling interest</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl2265">-</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">529</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">229</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">758</td><td style="text-align: left"> </td></tr> </table> 1024000 2000 1026000 7679000 7679000 7427000 7427000 7677000 1170000 1394000 10241000 15418000 2207000 1430000 19055000 -22843000 -3377000 -2824000 -29044000 3515000 3515000 -1668000 -323000 216000 -1775000 -28026000 -3700000 -2608000 -34334000 3228000 23000 3251000 3813000 1373000 96000 5282000 -14775000 -1314000 -2055000 -18144000 -4660000 988000 -2000 -3674000 28390000 700000 29090000 228000 164000 -198000 194000 9183000 -162000 -1555000 7466000 5859000 24000 5883000 3705000 3705000 5368000 5368000 13780000 3062000 15000 16857000 19565000 6344000 108000 26017000 -35008000 -9406000 -123000 -44537000 3019000 3019000 -1132000 209000 -923000 -39159000 -9197000 -123000 -48479000 3143000 61000 3204000 7920000 1154000 72000 9146000 -29599000 -8619000 -38218000 11844000 3061000 14905000 14646000 2000000 16646000 -39000 -6000 -45000 -3148000 -5564000 2000000 -6712000 10140000 1043000 458000 11641000 23901000 -219000 62000 23744000 34041000 824000 520000 35385000 28224000 378000 573000 29175000 5817000 446000 -53000 6210000 64000 20000 84000 2750000 2167000 2000000 6917000 22116000 1029000 23145000 24866000 3196000 2000000 30062000 15082000 589000 50000 15721000 9784000 2607000 1950000 14341000 529000 229000 758000 <p id="xdx_802_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_z1TtN1x98yCg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 14 <span id="xdx_829_zMQBLvLkaLq4">RELATED PARTY TRANSACTIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With the exception of the related party transactions referred to in Note 4 and Note 9, there were no additional related party transactions in the fiscal years ended March 31, 2026 and March 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_809_ecustom--OperatingLeasesTextBlock_zQQFLTbxl6If" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 15 <span id="xdx_828_zm9El36vu4Si">LEASE REVENUES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company leases the LungFit® PH device to customers and receives a fixed rental fee over the term of the arrangement. Contract terms (generally one<span id="xdx_90F_eus-gaap--LesseeOperatingLeaseTermOfContract_iI_dtY_c20260331__srt--RangeAxis__srt--MinimumMember_z4ODoxPTi5y6" style="display: none" title="Contract term">1</span>-to-<span id="xdx_900_eus-gaap--LesseeOperatingLeaseTermOfContract_iI_dc_c20260331__srt--RangeAxis__srt--MaximumMember_zt1uSwsGzKij" title="Contract term">three years</span>) vary by customer and may include options to terminate the contract or options to extend the contract. The LungFit® PH lease agreements are accounted for as operating leases. The non-lease components, including consumables and device-related services are combined with the predominant lease component under the practical expedient. The fixed rental fee is recognized over the period of the lease agreement on a straight-line basis.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognized $<span id="xdx_906_ecustom--OperatingLeaseIncome_pn5n6_c20250401__20260331__srt--ConsolidatedEntitiesAxis__custom--LungFitPHMember_z8ATVr61rtXl" title="Lease revenue">6.2</span> million and $<span id="xdx_907_ecustom--OperatingLeaseIncome_pn5n6_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--LungFitPHMember_zVkudFLhyJ36" title="Lease revenue">3.7 </span>million in LungFit® PH lease revenues for the years ended March 31, 2026 and March 31, 2025, respectively, reported as revenues in the consolidated statements of operations and comprehensive loss. The Company received approximately $<span id="xdx_907_eus-gaap--Cash_iI_pn5n6_c20260331__srt--ConsolidatedEntitiesAxis__custom--LungFitPHMember_zvs4AmWWTw26" title="Cash">5.8</span> million and $<span id="xdx_90C_eus-gaap--Cash_iI_pn5n6_c20250331__srt--ConsolidatedEntitiesAxis__custom--LungFitPHMember_zbpvfmxHQLSj" title="Cash">3.2</span> million in cash associated with leases which the Company is the lessor for the years ended March 31, 2026 and March 31, 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_hdei--LegalEntityAxis__custom--LungFitRPHMember_z7Y2qSMmBDJl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following schedule presents the minimum future lease payments under the LungFit® PH lease arrangements that were in place as of March 31, 2026 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B3_zsIXGXh71AE" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">SCHEDULE OF MATURITY OF FUTURE LEASE PAYMENTS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left; font-weight: bold">Future lease payments under the LungFit® PH lease arrangements (in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260331__dei--LegalEntityAxis__custom--LungFitRPHMember_zNvnnCb3rpc6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzQlL_zIa0UjmJMzD8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,919</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzQlL_zegw9FRxUGJa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,512</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPzQlL_zo5adO8PMz6l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">2029</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,560</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzQlL_zKzjTDVvGvzl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,991</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A0_zT2Rs0h3kuy3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The LungFit® PH devices are included in Property and Equipment (Note 3) and have the useful life of <span id="xdx_900_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dc_c20260331__dei--LegalEntityAxis__custom--LungFitPHMember_zuFKS1oPrS2f" title="Useful Life">five years</span>. Depreciation expense related to leased LungFit® PH devices was $<span id="xdx_901_eus-gaap--Depreciation_pn5n6_c20250401__20260331__dei--LegalEntityAxis__custom--LungFitPHMember_z2xJ4qSmHzSb" title="Depreciation expense">2.7</span> million and $<span id="xdx_90D_eus-gaap--Depreciation_pn5n6_c20240401__20250331__dei--LegalEntityAxis__custom--LungFitPHMember_zA9JgDd2w5Zd" title="Depreciation expense">2.3 </span>million for the years ended March 31, 2026 and March 31, 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The depreciation expense related to customer leased devices is included in the cost of revenues in the consolidated statements of operations and comprehensive loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Capitalized sales commissions</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales commissions related to obtaining LungFit® PH lease agreements are accounted for as initial direct costs and are capitalized and amortized on a straight-line basis over the lease term. Total capitalized costs for the years ended March 31, 2026 and March 31, 2025 were immaterial.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> P1Y P3Y 6200000 3700000 5800000 3200000 <p id="xdx_89B_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_hdei--LegalEntityAxis__custom--LungFitRPHMember_z7Y2qSMmBDJl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following schedule presents the minimum future lease payments under the LungFit® PH lease arrangements that were in place as of March 31, 2026 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B3_zsIXGXh71AE" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">SCHEDULE OF MATURITY OF FUTURE LEASE PAYMENTS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left; font-weight: bold">Future lease payments under the LungFit® PH lease arrangements (in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260331__dei--LegalEntityAxis__custom--LungFitRPHMember_zNvnnCb3rpc6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzQlL_zIa0UjmJMzD8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,919</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzQlL_zegw9FRxUGJa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,512</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPzQlL_zo5adO8PMz6l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">2029</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,560</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzQlL_zKzjTDVvGvzl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,991</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 4919000 3512000 1560000 9991000 P5Y 2700000 2300000 <p id="xdx_80D_eus-gaap--SubsequentEventsTextBlock_ziqoSPmcnM0h" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 16 <span id="xdx_82A_zgJYNhHoEbEg">SUBSEQUENT EVENTS</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 24, 2026, the Company’s Board of Directors approved a change in Company’s fiscal year from the twelve-month period ending on March 31 to the twelve-month period ending on December 31 of each year. The Company will complete a transition period commencing on April 1, 2026, and ending on December 31, 2026, after which the Company’s fiscal years shall consist of the twelve-month periods ending on December 31 of each calendar year.</p> Prior period results have been adjusted to reflect the one-for-twenty stock split in July 2025. See Note 1, Organization and Business for details. Prior period results have been adjusted to reflect the one-for-twenty stock split in July 2025. See Note 1, Organization and Business for details. Prior period results have been adjusted to reflect the one-for-twenty stock split in July 2025. See Note 1, Organization and Business for details. Pursuant to the terms of the Release Agreement with Steve Lisi, former CEO, the Company is obligated to pay Mr. Lisi $650,000in cash compensation over 12 months. After expected employer taxes and benefits, the Company accrued $0.7million The Company shall also pay Mr. Lisi COBRA premiums for 12 months, as more specifically described in the Release Agreement. All unvested options and all unvested stock restriction unit awards held by Mr. Lisi as of March 27, 2026, shall be accelerated and shall immediately vest, and shall continue to remain exercisable for twenty-four (24) months from March 27, 2026.