Airship AI, a company listed in the US, has not recorded any provision for income taxes for the nine months ended September 30, 2024, maintaining an effective tax rate of 0% for the same period in both 2024 and 2023. The company's future lease payments through 2028 total $1,105,893, with a lease liability of $986,053 after accounting for imputed interest. In business development, Airship AI completed a reverse recapitalization on December 21, 2023, with BYTS as the legal acquirer but Airship AI being the accounting acquirer. The merger resulted in net proceeds of $2.8 million, after transaction costs, and no goodwill or intangible assets were recorded. Airship AI's stockholders retained the majority voting interest post-merger, and its senior management and business operations continued to lead the combined entity...Show More

Airship AI, a company listed in the US, has not recorded any provision for income taxes for the nine months ended September 30, 2024, maintaining an effective tax rate of 0% for the same period in both 2024 and 2023. The company's future lease payments through 2028 total $1,105,893, with a lease liability of $986,053 after accounting for imputed interest. In business development, Airship AI completed a reverse recapitalization on December 21, 2023, with BYTS as the legal acquirer but Airship AI being the accounting acquirer. The merger resulted in net proceeds of $2.8 million, after transaction costs, and no goodwill or intangible assets were recorded. Airship AI's stockholders retained the majority voting interest post-merger, and its senior management and business operations continued to lead the combined entity. The company also reduced the exercise price of outstanding warrants to potentially raise capital for working capital and general corporate purposes. Regarding future plans, Airship AI has set earnout milestones related to company revenue and stock performance, with up to 5,000,000 earnout shares contingent on meeting these targets. As of September 30, 2024, the fair value of the earnout liability increased to $6,229,390 due to a rise in the company's share price. The company also recognized stock-based compensation expense for the vesting of earnout shares and expects to issue 1,250,000 shares in early January 2025 upon achieving the first operating performance milestone.