SEC Info - Beyond Air, Inc. - ‘10-K’ for 12/31/17

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML    995K 
 2: EX-23.1     Consent of Experts or Counsel -- exhibit_23-1       HTML     22K 
 3: EX-31.1     Certification -- §302 - SOA'02 -- exhibit_31-1      HTML     31K 
 4: EX-31.2     Certification -- §302 - SOA'02 -- exhibit_31-2      HTML     30K 
 5: EX-32.1     Certification -- §906 - SOA'02 -- exhibit_32-1      HTML     24K 
 6: EX-32.2     Certification -- §906 - SOA'02 -- exhibit_32-2      HTML     23K 
13: R1          Document and Entity Information                     HTML     49K 
14: R2          Consolidated Balance Sheets                         HTML    108K 
15: R3          Consolidated Balance Sheets (Parenthetical)         HTML     40K 
16: R4          Consolidated Statements of Comprehensive Loss       HTML     51K 
17: R5          Statements of Changes in Consolidated               HTML     97K 
                Stockholders' Equity Deficiency                                  
18: R6          Statements of Consolidated Cash Flows               HTML    119K 
19: R7          General                                             HTML     39K 
20: R8          Significant Accounting Policies                     HTML     68K 
21: R9          Other Accounts Receivable                           HTML     34K 
22: R10         Property and Equipment, Net                         HTML     40K 
23: R11         Other Accounts Payable                              HTML     33K 
24: R12         Bank Loan                                           HTML     25K 
25: R13         Convertible Notes                                   HTML     41K 
26: R14         Fair Value Measurement                              HTML     53K 
27: R15         Taxes on Income                                     HTML     65K 
28: R16         Contingent Liabilities and Commitments              HTML     27K 
29: R17         Stockholders' Deficiency                            HTML    101K 
30: R18         Related Party Balances and Transactions             HTML     51K 
31: R19         Financial Expense, Net                              HTML     40K 
32: R20         Basic and Diluted Net Loss Per Share                HTML     37K 
33: R21         Subsequent Events                                   HTML     29K 
34: R22         Significant Accounting Policies (Policies)          HTML    123K 
35: R23         Significant Accounting Policies (Tables)            HTML     32K 
36: R24         Other Accounts Receivable (Tables)                  HTML     31K 
37: R25         Property and Equipment, Net (Tables)                HTML     39K 
38: R26         Other Accounts Payable (Tables)                     HTML     32K 
39: R27         Convertible Notes (Tables)                          HTML     36K 
40: R28         Fair Value Measurement (Tables)                     HTML     48K 
41: R29         Taxes on Income (Tables)                            HTML     57K 
42: R30         Stockholders' Deficiency (Tables)                   HTML     76K 
43: R31         Related Party Balances and Transactions (Tables)    HTML     50K 
44: R32         Financial Expense, Net (Tables)                     HTML     38K 
45: R33         Basic and Diluted Net Loss Per Share (Tables)       HTML     36K 
46: R34         General (Narrative) (Details)                       HTML     55K 
47: R35         Significant Accounting Policies (Schedule of        HTML     30K 
                Estimated useful lives)) (Details)                               
48: R36         Significant Accounting Policies (Fair Value of      HTML     39K 
                Options) (Details)                                               
49: R37         Other Accounts Receivable (Schedule of Other        HTML     28K 
                Accounts Receivable) (Details)                                   
50: R38         Property and Equipment, Net (Schedule of Property   HTML     38K 
                and Equipment) (Details)                                         
51: R39         Other Accounts Payable (Schedule of Other Accounts  HTML     32K 
                Payable) (Details)                                               
52: R40         Bank Loan (Details)                                 HTML     29K 
53: R41         Convertible Notes (Narrative) (Details)             HTML     38K 
54: R42         Convertible Notes (Schedule of Convertible Notes)   HTML     41K 
                (Details)                                                        
55: R43         Fair Value Measurement (Schedule of assumptions to  HTML     41K 
                estimate the Investors' and placement agent's                    
                warrants) (Details)                                              
56: R44         Fair Value Measurement (Schedule of components of   HTML     42K 
                the liability associated with such warrants)                     
                (Details)                                                        
57: R45         Taxes on Income (Narrative) (Details)               HTML     33K 
58: R46         Taxes on Income (Schedule of Deferred Tax Assets)   HTML     37K 
                (Details)                                                        
59: R47         Taxes on Income (Schedule of Income Loss Before     HTML     30K 
                Taxes) (Details)                                                 
60: R48         Taxes on Income (Schedule of Reconciliation of      HTML     26K 
                Unrecognized Tax Benefits) (Details)                             
61: R49         Contingent Liabilities and Commitments (Other)      HTML     27K 
                (Details)                                                        
62: R50         Contingent Liabilities and Commitments (Option      HTML     33K 
                Agreement) (Details)                                             
63: R51         Stockholders' Deficiency (Narrative) (Details)      HTML    191K 
64: R52         Stockholders' Deficiency (Summary of Option         HTML     58K 
                Activity For Employees And Directors) (Details)                  
65: R53         Stockholders' Deficiency (Summary of Options        HTML     44K 
                Granted to Non-Employees) (Details)                              
66: R54         Stockholders' Deficiency (Schedule of Share Based   HTML     33K 
                Compensation Expense) (Details)                                  
67: R55         Related Party Balances and Transactions             HTML     47K 
                (Narrative) (Details)                                            
68: R56         Related Party Balances and Transactions (Schedule   HTML     43K 
                of Related Party Transactions) (Details)                         
69: R57         Financial Expense, Net (Details)                    HTML     40K 
70: R58         Basic and Diluted Net Loss Per Share (Details)      HTML     34K 
71: R59         Subsequent Events (Details)                         HTML     48K 
73: XML         IDEA XML File -- Filing Summary                      XML    133K 
72: EXCEL       IDEA Workbook of Financial Reports                  XLSX     75K 
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10: EX-101.DEF  XBRL Definitions -- aitb-20171231_def                XML    458K 
11: EX-101.LAB  XBRL Labels -- aitb-20171231_lab                     XML    943K 
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74: ZIP         XBRL Zipped Folder -- 0001178913-18-001051-xbrl      Zip    131K

‘R13’ — Convertible Notes

This is an IDEA Financial Report. [ Alternative Formats ]

CONVERTIBLE NOTES

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

CONVERTIBLE NOTES

NOTE 7:-

CONVERTIBLE NOTES

Starting in December 2013 and continuing until December 31, 2016, AIT entered into Convertible Notes Agreements ("Notes Agreement") and received an aggregate amount of $3,342 in proceeds from these convertible notes - ("Convertible Notes"), of which $892 was received from related parties as of December 31, 2016.

With respect to the Convertible Notes, AIT applied ASC 470, "Debt with Conversion and Other Options", pursuant to which AIT recognized and measured the Beneficial Conversion Feature ("BCF") in the Convertible Notes at the commitment date by allocating a portion of the proceeds equal to the intrinsic value of the feature to additional paid-in-capital. The intrinsic value of the feature is calculated on the commitment date using the effective conversion price. The discount resulting from the BCF is amortized over the life of the Convertible Notes and is contained in financial expenses (income), net in the Company’s statements of consolidated comprehensive loss unless mandatorily converted earlier.

In September and October 2016, the Convertible Notes' terms were modified such that subject to and effective immediately upon the consummation of a transaction whereby AIT’s ordinary shares were to become quoted on the OTC Market, the holders of the Convertible Notes had the right to convert the Convertible Notes and the outstanding accrued interest into ordinary shares of AIT. Following the consummation of the Merger, the holders of the Convertible Notes elected to change the conversion terms such that the Convertible Notes and the outstanding accrued interest will convert into 1,397,068 ordinary shares of AIT. Following the conversion, the holders will no longer have any rights or claims under the Notes Agreement. AIT accounted for this amendment as modification according to ASC 470-50 "Modifications and Extinguishments".

On January 13, 2017, upon the Closing of the Merger (see Note 1b) all Convertible Notes and the accrued interest were converted into 1,397,068 shares of Common Stock of the Company (including 6,473 shares that were issued as a finders’ fee), and the remaining BCF and capitalized debts issuance costs were amortized immediately into statement of comprehensive loss as finance expenses (see also Note 13).

The Convertible Notes balance consists of the following:

	December 31,
	2017			2016

Opening balance	$	2,895		$	1,552
Receipt of Convertible Notes		-			184
BCF in respect of Convertible Notes		-			(177	)
Amortization of BCF		1,031			1,034
Amortization of debts issuance costs		15			16
Imputed interest		14			286
Conversion of Convertible Notes into Common Stock		(3,955	)		-

	$	-		$	2,895

Dates Referenced Herein and Documents Incorporated by Reference

This ‘10-K’ Filing	Date	Other Filings

Filed on:	3/30/18
For Period end:	12/31/17	10-KT
	1/13/17
	12/31/16	10-K
		List all Filings

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Filing Submission 0001178913-18-001051 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Beyond Air, Inc. – ‘10-K’ for 12/31/17 – ‘R13’

On: Friday, 3/30/18, at 9:20am ET · For: 12/31/17 · Accession #: 1178913-18-1051 · File #: 0-55759

Previous ‘10-K’: ‘10-K’ on 3/31/17 for 12/31/16 · Next: ‘10-K’ on 6/28/19 for 3/31/19 · Latest: ‘10-K’ on 6/22/23 for 3/31/23

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

‘R13’ — Convertible Notes

This is an IDEA Financial Report. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

Beyond Air, Inc. – ‘10-K’ for 12/31/17 – ‘R13’

On: Friday, 3/30/18, at 9:20am ET · For: 12/31/17 · Accession #: 1178913-18-1051 · File #: 0-55759

Previous ‘10-K’: ‘10-K’ on 3/31/17 for 12/31/16 · Next: ‘10-K’ on 6/28/19 for 3/31/19 · Latest: ‘10-K’ on 6/22/23 for 3/31/23

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34Filing Table of Contents

‘R13’ — Convertible Notes

This is an IDEA Financial Report. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents