<SEC-DOCUMENT>0001829126-25-003922.txt : 20250523
<SEC-HEADER>0001829126-25-003922.hdr.sgml : 20250523
<ACCEPTANCE-DATETIME>20250523170546
ACCESSION NUMBER:		0001829126-25-003922
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20250523
DATE AS OF CHANGE:		20250523

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CXApp Inc.
		CENTRAL INDEX KEY:			0001820875
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		ORGANIZATION NAME:           	06 Technology
		EIN:				852104918
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-281452
		FILM NUMBER:		25983296

	BUSINESS ADDRESS:	
		STREET 1:		FOUR PALO ALTO SQUARE, SUITE 200
		STREET 2:		3000 EL CAMINO REAL
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94306
		BUSINESS PHONE:		(650) 999-4009

	MAIL ADDRESS:	
		STREET 1:		FOUR PALO ALTO SQUARE, SUITE 200
		STREET 2:		3000 EL CAMINO REAL
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94306

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KINS Technology Group, Inc.
		DATE OF NAME CHANGE:	20200812
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Filed Pursuant to Rule&#160;424(b)(3)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No.&#160;333-281452</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Prospectus Supplement No.&nbsp;7</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(to prospectus dated October&nbsp;3, 2024)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="img_001.jpg" ALT="" STYLE="height: 70px; width: 70px"></P>

<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-size: 6pt"><B>&#160;</B></FONT></P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>CXApp Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>RESALE OF UP TO 10,026,776
SHARES OF COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>10,280,000 WARRANTS
TO PURCHASE SHARES OF COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>24,080,000 SHARES OF
COMMON STOCK UNDERLYING WARRANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>BY THE SELLING SECURITYHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">This prospectus supplement
is being filed to update and supplement the information contained in the prospectus dated October 3, 2024 (as supplemented to date, the
&ldquo;Prospectus&rdquo;), <FONT STYLE="background-color: white">related to</FONT>&nbsp;(i) the resale of up to 6,977,776 shares of common
stock, par value $0.0001 per share (the &ldquo;common stock&rdquo;) previously issued to certain of the Selling Securityholders (as defined
in the Prospectus) at a price of approximately $0.004 per share, (ii) the resale of up to 10,280,000 private placement warrants to purchase
common stock at an exercise price of $11.50 per share, which were originally issued to our Sponsor (as defined below) and the Direct
Anchor Investors (as defined below) in a private placement at a price of $1.00 per private placement warrant, (iii) 24,080,000 shares
of common stock reserved for issuance upon the exercise of warrants to purchase common stock, which are comprised of 13,800,000 shares
of common stock issuable upon exercise of the public warrants and 10,280,000 shares of common stock issuable upon exercise of the private
placement warrants, (iv) the resale of up to 10,280,000 shares of common stock issuable upon exercise of the private warrants held by
KINS Capital LLC (&ldquo;Sponsor&rdquo;), its affiliates and certain funds and accounts managed by BlackRock, Inc. (the &ldquo;Direct
Anchor Investors&rdquo;), (v) the resale from time to time of up to 40,000 shares of common stock by Streeterville Capital, LLC (&ldquo;Streeterville&rdquo;),
or a Selling Securityholder, which were issued pursuant to that certain Securities Purchase Agreement, dated as of May&nbsp;22, 2024
(the &ldquo;Securities Purchase Agreement&rdquo;), by and between CXApp and Streeterville, and (vi) the resale from time to time of the
maximum number of up to 3,009,000 shares of common stock by Streeterville, or a Selling Securityholder, that Streeterville may, at their
sole discretion, take delivery of in satisfaction of an outstanding balance of a pre-paid purchase according to the terms of the pre-paid
purchase consummated on May 22, 2024, and the Company will issue to Streeterville pursuant to the Securities Purchase Agreement, subject
to certain limitations, <FONT STYLE="background-color: white">with the information contained in our Quarterly Report on Form 10-Q, filed
with the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on May 20, 2025 (the &ldquo;Quarterly Report&rdquo;). Accordingly,
we have attached the Quarterly Report to this prospectus supplement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">This prospectus supplement
updates and supplements the information in the Prospectus and is not complete without, and may not be delivered or utilized except in
combination with, the Prospectus, including any amendments or supplements thereto. This prospectus supplement should be read in conjunction
with the Prospectus and if there is any inconsistency between the information in the Prospectus and this prospectus supplement, you should
rely on the information in this prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Our common stock and warrants
are traded on the The Nasdaq Capital Market (&ldquo;Nasdaq&rdquo;) under the symbols &ldquo;CXAI&rdquo; and &ldquo;CXAIW&rdquo;, respectively.
On May&nbsp;22, 2025, the closing price of our common stock was $0.97 per share and the closing price of our warrants was $0.06 per warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><FONT STYLE="background-color: white"><B>Investing
in our securities involves risks. See</B> <I>&ldquo;<B>Risk Factors</B>&rdquo; </I><B>beginning on page&nbsp;13 of the Prospectus and in any
applicable prospectus supplement.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><B>Neither the SEC nor any
state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of the Prospectus
or this prospectus supplement. Any representation to the contrary is a criminal offense. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The date of this prospectus supplement is May&nbsp;23, 2025.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>FORM&#160;10-Q</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(MARK ONE)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT> <B>QUARTERLY REPORT PURSUANT TO SECTION&#160;13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the quarter ended March 31, 2025</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT> <B>TRANSITION REPORT PURSUANT TO SECTION&#160;13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the transition period from&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;to&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-39642</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>CXApp Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of Registrant as Specified in Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; width: 49%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 2%; font-size: 10pt; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 49%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>85-2104918</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other jurisdiction of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">incorporation or organization)</P></TD>
    <TD STYLE="font-size: 10pt; text-align: center">&#160;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(I.R.S. Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Four Palo Alto Square, Suite 200</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>3000 El Camino Real</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Palo Alto, CA 94306</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices, zip code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(650) 785-7171</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&#8217;s telephone number)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Securities registered pursuant to Section&#160;12(b) of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; width: 38%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title of each class</B></FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 20%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Trading Symbol</B></FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 38%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Name of each exchange on which registered</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Class A common stock, $0.0001 par value per share</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">CXAI</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">The Nasdaq Stock Market LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Warrants to purchase common stock</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">CXAIW</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">The Nasdaq Stock Market LLC</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section&#160;13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes&#160;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT>&#160;&#160;&#160;No&#160;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule&#160;405 of Regulation S-T (&#167; 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes&#160;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT>&#160;&#160;&#160;No&#160;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule&#160;12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

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    <TD STYLE="text-align: left; white-space: nowrap; width: 21%"><FONT STYLE="font-size: 10pt">Large accelerated filer </FONT></TD>
    <TD STYLE="text-align: left; white-space: nowrap; width: 36%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
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    <TD STYLE="text-align: left; white-space: nowrap; width: 18%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD></TR>
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    <TD STYLE="text-align: left; white-space: nowrap"><FONT STYLE="font-size: 10pt">Non-accelerated filer</FONT></TD>
    <TD STYLE="text-align: left; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
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    <TD STYLE="text-align: left; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD></TR>
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    <TD STYLE="text-align: left; white-space: nowrap">&#160;</TD>
    <TD STYLE="text-align: left; white-space: nowrap">&#160;</TD>
    <TD STYLE="text-align: left; white-space: nowrap"><FONT STYLE="font-size: 10pt">Emerging growth company </FONT></TD>
    <TD STYLE="text-align: left; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&#160;13(a) of the Exchange Act.&#160;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant is a shell company (as defined in Rule&#160;12b-2 of the Act). Yes&#160;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT>&#160;&#160;&#160;No&#160;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of May 15, 2025, there were 20,776,997 shares of Class A common stock, $0.0001 par value, issued and outstanding.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><B>CXAPP INC.</B></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><B>TABLE OF CONTENTS</B></P>

<P STYLE="margin: 0">&#160;</P>

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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="4" STYLE="text-align: left; vertical-align: top"><A HREF="#a_001"><FONT STYLE="font-size: 10pt">Part I. FINANCIAL INFORMATION</FONT></A></TD>
    <TD>&#160;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&#160;</TD>
    <TD COLSPAN="3">&#160;</TD>
    <TD>&#160;</TD>
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  <TR STYLE="background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left; vertical-align: top">&#160;</TD>
    <TD>&#160;</TD>
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    <TD STYLE="text-align: left; vertical-align: top">&#160;</TD>
    <TD>&#160;</TD>
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    <TD STYLE="text-align: left; vertical-align: top">&#160;</TD>
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    <TD STYLE="text-align: left; vertical-align: top">&#160;</TD>
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    <TD STYLE="text-align: left; vertical-align: top">&#160;</TD>
    <TD>&#160;</TD>
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  <TR STYLE="background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left; vertical-align: top; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_009">Item&#160;3.</A></FONT></TD>
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  <TR STYLE="background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_010">Item&#160;4.</A></FONT></TD>
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    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">41</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD COLSPAN="3">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD>&#160;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD COLSPAN="3">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&#160;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_012">Item&#160;1.</A></FONT></TD>
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    <TD STYLE="text-align: left; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_013">Item&#160;1A.</A></FONT></TD>
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  <TR STYLE="background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_014">Item&#160;2.</A></FONT></TD>
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    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42</FONT></TD></TR>
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    <TD STYLE="text-align: left; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_015">Item&#160;3.</A></FONT></TD>
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    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42</FONT></TD></TR>
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    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42</FONT></TD></TR>
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    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
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    <TD COLSPAN="3">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&#160;</TD></TR>
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    <TD>&#160;</TD>
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<P STYLE="margin: 0">&#160;</P>

<P STYLE="margin: 0">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><FONT ID="a_001"></FONT>PART I. FINANCIAL INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT ID="a_002"></FONT>Item 1: Interim Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><FONT ID="a_003"></FONT>CXAPP INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONDENSED CONSOLIDATED BALANCE SHEETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(in thousands, except share and per share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: bottom; text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</TD>
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    <TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1pt; vertical-align: bottom">&#160;</TD>
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    <TD STYLE="vertical-align: bottom; text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&#160;</TD>
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    <TD STYLE="text-align: center; vertical-align: bottom">&#160;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&#160;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: center">&#160;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: right">&#160;</TD>
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    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
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    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</TD>
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    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="text-align: right">39</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">4,280</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">4,512</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">16,211</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
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    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</TD>
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    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: right">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
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    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD>
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    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&#160;</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&#160;</FONT></TD>
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    <TD STYLE="text-align: right">94,205</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="text-align: right">92,583</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: right">&#160;</TD>
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    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
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    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right">29,252</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD>
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    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right">31,803</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><FONT ID="a_005"></FONT>CXAPP INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS&#8217; EQUITY</B></P>

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    <TD>&#160;</TD>
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    <TD STYLE="text-align: right">&#160;</TD>
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    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
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<TR STYLE="vertical-align: bottom">
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  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="vertical-align: bottom; text-align: center; font-weight: bold"><B>&#160;</B></TD>
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    <TD STYLE="vertical-align: bottom; text-align: center"><B>&#160;</B></TD>
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    <TD STYLE="vertical-align: bottom; text-align: center"><B>&#160;</B></TD>
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    <TD STYLE="vertical-align: bottom; text-align: center"><B>&#160;</B></TD>
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    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; width: 28%; font-weight: bold; text-align: left">Balance at January&#160;1, 2025</TD>
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    <TD STYLE="width: 9%; text-align: right">2</TD>
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    <TD STYLE="width: 9%; text-align: right">92,583</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD>
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    <TD STYLE="width: 9%; text-align: right">216</TD>
    <TD STYLE="width: 1%; text-align: left"></TD>
    <TD STYLE="width: 1%">&#160;</TD>
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    <TD STYLE="width: 9%; text-align: right">15,592</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD></TR>
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    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">(1,616</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">(1,616</TD>
    <TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; vertical-align: top; text-align: left">Stock-based compensation</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">624</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">624</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; vertical-align: top; text-align: left">Common shares issued for extinguishment of debt</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">556,274</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">1,003</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">1,003</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; vertical-align: top; text-align: left">Common shares issued for vested RSUs</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">3,120</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; vertical-align: top; text-align: left">Taxes withheld on stock-based compensation</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">(5</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">(5</TD>
    <TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; vertical-align: top; text-align: left; padding-bottom: 1pt">Cumulative translation adjustment</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">)</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1</TD>
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    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Balance at March&#160;31, 2025</TD>
    <TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right">19,807,784</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right">94,205</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(78,825</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD>
    <TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right">215</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right">15,597</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.25in; text-align: left; width: 28%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="text-align: left; width: 1%">&#160;</TD>
    <TD STYLE="text-align: right; width: 9%">&#160;</TD>
    <TD STYLE="text-align: left; width: 1%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="text-align: left; width: 1%">&#160;</TD>
    <TD STYLE="text-align: right; width: 9%">&#160;</TD>
    <TD STYLE="text-align: left; width: 1%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="text-align: left; width: 1%">&#160;</TD>
    <TD STYLE="text-align: right; width: 9%">&#160;</TD>
    <TD STYLE="text-align: left; width: 1%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="text-align: left; width: 1%">&#160;</TD>
    <TD STYLE="text-align: right; width: 9%">&#160;</TD>
    <TD STYLE="text-align: left; width: 1%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="text-align: left; width: 1%">&#160;</TD>
    <TD STYLE="text-align: right; width: 9%">&#160;</TD>
    <TD STYLE="text-align: left; width: 1%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="text-align: left; width: 1%">&#160;</TD>
    <TD STYLE="text-align: right; width: 9%">&#160;</TD>
    <TD STYLE="text-align: left; width: 1%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; vertical-align: top; font-weight: bold; text-align: left"><B>&#160;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center; vertical-align: bottom"><B>&#160;</B></TD>
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    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; text-align: center"><B>&#160;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center; vertical-align: bottom"><B>&#160;</B></TD>
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    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; text-align: center"><B>&#160;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center; vertical-align: bottom"><B>&#160;</B></TD>
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    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; text-align: center"><B>&#160;</B></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center; vertical-align: bottom"><B>&#160;</B></TD>
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    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; text-align: center"><B>&#160;</B></TD>
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    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; text-align: center"><B>&#160;</B></TD></TR>
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    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; padding-bottom: 1pt; font-weight: bold; text-align: left"><B>&#160;</B></TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt; vertical-align: bottom"><B>&#160;</B></TD>
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    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; text-align: center"><B>&#160;</B></TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt; vertical-align: bottom"><B>&#160;</B></TD>
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    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; text-align: center"><B>&#160;</B></TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt; vertical-align: bottom"><B>&#160;</B></TD>
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    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; text-align: center"><B>&#160;</B></TD>
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    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; text-align: center"><B>&#160;</B></TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt; vertical-align: bottom"><B>&#160;</B></TD>
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    <TD STYLE="font-style: normal; font-weight: normal; text-align: left">&#160;</TD>
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    <TD STYLE="text-align: right">(5,170</TD>
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    <TD STYLE="text-align: right">&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">54</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">54</TD>
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    <TD STYLE="border-bottom: Black 2.5pt double; font-style: normal; font-weight: normal; text-align: right">15,254,389</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-align: left">&#160;</TD>
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    <TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-align: left">&#160;</TD>
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<P STYLE="margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><FONT ID="a_006"></FONT>CXAPP INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Unaudited, in thousands)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0">&#160;</P>

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    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</TD>
    <TD>&#160;</TD>
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    <TD STYLE="text-align: right">&#160;</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="vertical-align: bottom; text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</TD>
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    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
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    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="text-align: right">&#160;</TD>
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    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="text-align: right">103</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&#160;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><FONT ID="a_007"></FONT>CXAPP INC. AND SUBSIDIARIES<BR>NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTE 1 &#8211; Organization, Nature of Business and Basis of Presentation</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CXApp Inc. and its subsidiaries (&#8220;CXApp&#8221; or the &#8220;Company&#8221;) is in the business of delivering intelligent enterprise workplace experiences. The CXApp SaaS platform is anchored on the intersection of customer experience (CX) and artificial intelligence (AI) providing digital transformation for the physical workplace for enhanced experiences across people, places and things.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The CXApp SaaS platform offers a suite of leading-edge technology workplace experience solutions including an enterprise employee application, indoor mapping, on-device positioning, augmented reality technologies, generative AI applications and an AI-based analytics platform, targeting the emerging hybrid workplace market. CXApp creates a connected workplace by reducing app overload, data fragmentation, and complex workflows and streamlines all capabilities through The Workplace SuperApp. All features, services and integrations are housed in one easy-to-access platform allowing businesses to deliver a more holistic employee experience in a hybrid workplace.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September&#160;25, 2022, an Agreement and Plan of Merger (the &#8220;Merger Agreement&#8221;), was entered into by and among Inpixon, KINS, CXApp, and KINS Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of KINS (&#8220;Merger Sub&#8221;), pursuant to which KINS acquired Inpixon&#8217;s enterprise apps business (including its workplace experience technologies, indoor mapping, events platform, augmented reality and related business solutions) (&#8220;Legacy CXApp&#8221;) in exchange for the issuance of shares of KINS capital stock (the &#8220;Business Combination&#8221;). As a result of the Business Combination, KINS changed their name to CXApp Inc. (&#8220;CXApp&#8221;). The shares are now trading on the Nasdaq using the ticker CXAI. The transaction closed on March&#160;14, 2023.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unless the context otherwise requires, &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; &#8220;CXApp&#8221; and the &#8220;Company&#8221; refer to CXApp Inc., a Delaware corporation, and its consolidated subsidiaries following the Business Combination (as defined below), which closed in March&#160;2023. Unless the context otherwise requires, references to &#8220;KINS&#8221; refer to KINS Technology Group Inc., a Delaware corporation (&#8220;KINS&#8221;), prior to the Business Combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOTE 2 &#8211; Summary of Significant Accounting Policies</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Liquidity</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;U.S. GAAP&#8221;) for interim financial information and the requirements of the Securities and Exchange Commission (the &#8220;SEC&#8221;) for interim reporting. Accordingly, since they are interim statements, they do not include all of the information and disclosures required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March&#160;31, 2025 are not necessarily indicative of the results that may be expected for other quarters or the year ending December&#160;31, 2025. The condensed consolidated balance sheet as of December&#160;31, 2024 has been derived from the audited financial statements as of that date. For more complete financial information, these condensed consolidated financial statements and the notes thereto should be read in conjunction with the audited financial statements included in our Annual Report on Form 10-K for the year ended December&#160;31, 2024, which was filed with the SEC on April&#160;7, 2025.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances have been eliminated in consolidation.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT 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, cash equivalents, and trade receivables. The Company&#8217;s cash is placed with high-credit-quality financial institutions, which periodically exceed federally insured limits. The Company&#8217;s cash equivalents are certificates of deposit held by a number of banks limited to $250 thousand per bank with a duration of 90 days or less. The Company has not realized any losses relating to its cash, cash equivalents, and trade receivables.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Emerging Growth Company</I></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is an &#8220;emerging growth company,&#8221; as defined in Section&#160;2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the &#8220;JOBS Act&#8221;), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section&#160;404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Accounts Receivable and Allowance for Credit Losses</I></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivables are stated at the amount the Company expects to collect. The Company recognizes an allowance for credit losses to ensure accounts receivables are not overstated due to un-collectability. Allowance for credit losses are maintained for various customers based on a variety of factors, including the length of time the receivables are past due, significant one-time events and historical experience. An additional reserve for individual accounts is recorded when the Company becomes aware of a customer&#8217;s inability to meet its financial obligation, such as in the case of bankruptcy filings, or deterioration in such customer&#8217;s operating results or financial position. If circumstances related to a customer change, estimates of the recoverability of receivables would be further adjusted. The Company has no allowance for credit losses as of March&#160;31, 2025 and December&#160;31, 2024.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company tests goodwill for potential impairment at least annually, or more frequently if an event or other circumstance indicates that the Company may not be able to recover the carrying amount of the net assets of the reporting unit. The Company has determined that the reporting unit is the entire company, due to the integration of all of the Company&#8217;s activities. In evaluating goodwill for impairment, the Company may assess qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50%) that the fair value of a reporting unit is less than its carrying amount. If the Company bypasses the qualitative assessment, or if the Company concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying value, then the Company performs a quantitative impairment test by comparing the fair value of a reporting unit with its carrying amount.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT 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. Income 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Comprehensive Loss and Foreign Currency Translation</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company reports comprehensive loss and its components in its condensed consolidated financial statements. Comprehensive loss consists of net loss and foreign currency translation adjustments, affecting stockholders&#8217; equity that, under GAAP, are excluded from net loss.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assets
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translated at end-of-period exchange rates, while the related revenues and expenses are translated at average exchange rates prevailing
during the period. Gains or losses resulting from transactions denominated in foreign currencies are included in general and administrative
expenses in the condensed consolidated statements of operations. The Company engages in foreign currency denominated transactions with
customers that operate in functional currencies other than the U.S. dollar. Aggregate foreign currency net transaction loss was approximately
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Debt Extinguishment</I></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The note exchanges are accounted for under ASC 470-50 on Modifications and Extinguishments. This standard requires the recognition of a gain or loss on the difference between the reacquisition price and the net carrying amount of the extinguished debt.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Revenue Recognition</I></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes revenue, in accordance with ASC 606, when control is transferred of the promised products or services to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products or services. The Company derives revenue from its software as a service for cloud-based software, as well as design, implementation and other professional services for work performed in conjunction with its cloud-based software. The Company enters into contracts with its customers whereby it grants a non-exclusive cloud-based license for the use of its proprietary software and for professional services. The contracts may also provide for on-going services for a specified price, which may include maintenance services, designated support, and enhancements, upgrades and improvements to the software, depending on the contract. Licenses for cloud software provide the customer with a right to use the software as it exists when made available to the customer. All software provides customers with the same functionality and differs mainly in the duration over which the customer benefits from the software.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I><FONT STYLE="text-decoration: underline">Professional Services Revenue Recognition</FONT></I></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company provides integration and software customization professional services to its customers.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Professional
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specified direct costs, are reimbursed as actual costs and may include markup. The Company has elected the practical expedient to recognize
revenue for the right to invoice because the Company&#8217;s right to consideration corresponds directly with the value to the customer
of the performance completed to date. For fixed fee contracts provided by in house personnel, the Company recognizes revenue evenly over
the service period using a time-based measure because the Company is providing continuous service. Because the Company&#8217;s contracts
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information about its remaining performance obligations. Anticipated losses are recognized as soon as they become known. For the three
months ended March&#160;31, 2025 and March&#160;31, 2024, the Company did not incur any such losses. These amounts are based on known
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I><FONT STYLE="text-decoration: underline">Cost to Fulfill a Contract</FONT></I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company incurs costs to fulfill their obligations under a contract once it has obtained the contract. These costs are generally not significant and are recorded to expense as incurred.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I><FONT STYLE="text-decoration: underline">Sales and Use Taxes</FONT></I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I><FONT STYLE="text-decoration: underline">Shipping and Handling Costs</FONT></I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Stock-Based Compensation</I></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for convertible debt under the fair value option election using Level 3 inputs. For the three months ended March&#160;31, 2025 and March&#160;31, 2024, the Company recognized an unrealized loss in the Consolidated Statements of Operations and Comprehensive Loss of $118 thousand and $0 respectively, which are presented as change in fair value of derivative liability. See additional details within <I>Note 11, Convertible debt</I>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Pre-Paid Purchase #2</I></FONT></P>

<P STYLE="margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Fair Value of Financial Instruments</I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial instruments consist of cash and cash equivalents, accounts receivable, unbilled and other receivables and accounts payable. The Company determines the estimated fair value of such financial instruments presented in the financial statements is equal to its carrying value due to their short-term nature.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Carrying Value, Recoverability and Impairment of Long-Lived Assets</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company follows FASB ASC 360 &#8220;Property, Plant, and Equipment&#8221; (&#8220;ASC 360&#8221;) for its long-lived assets. Pursuant to ASC 360-10-35-17, an impairment loss shall be recognized only if the carrying amount of a long-lived asset (asset group) is not recoverable and exceeds its fair value. The carrying amount of a long-lived asset (asset group) is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset (asset group). That assessment shall be based on the carrying amount of the asset (asset group) at the date it is tested for recoverability. An impairment loss shall be measured as the amount by which the carrying amount of a long-lived asset (asset group) exceeds its fair value. Pursuant to ASC 360-10-35-20 if an impairment loss is recognized, the adjusted carrying amount of a long-lived asset shall be its new cost basis. For a depreciable long-lived asset, the new cost basis shall be depreciated (amortized) over the remaining useful life of that asset. Restoration of a previously recognized impairment loss is prohibited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Recently Issued Accounting Standards Not Yet Adopted</I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December&#160;2023, the FASB issued ASU No. 2023-09,
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to provide additional information in their tax rate reconciliation and additional disclosures about income taxes paid by jurisdiction.
ASU 2023-09 is effective for annual reporting periods beginning after December&#160;15, 2024 with early adoption permitted. The guidance
should be applied prospectively, but entities have the option to apply it retrospectively for each period presented. We are currently
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



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to remove references to various FASB Concepts Statements and impacts a variety of Topics in the Codification. The amendments apply to
all reporting entities within the scope of the affected accounting guidance, but in most instances the references removed are extraneous
and are not required to understand or apply the guidance. Generally, the amendments in ASU 2024-02 are not intended to result in significant
accounting changes for most entities. ASU 2024-02 is effective for the Company for fiscal years beginning after December&#160;15, 2024
and interim periods within those fiscal years. Entities may apply the guidance either retrospectively to the beginning of the earliest
comparative period presented or prospectively to all new or modified transactions recognized on or after the date of adoption. We adopted
this guidance as of January 1, 2025, on a prospective basis and the adoption did not have a material impact on our condensed consolidation
financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In November&#160;2024, the FASB issued ASU No. 2024-04 &#8220;Debt&#8212;Debt with Conversion and Other Options (Subtopic 470-20)&#8221;. The amendment requires companies to apply a preexisting contract approach. Under this approach, a settlement qualifies for induced conversion accounting if the inducement offer preserves the form of consideration and results in an amount of consideration that is no less than that issuable pursuant to the preexisting conversion privileges. The ASU is effective for all entities in annual and interim reporting periods in fiscal years beginning after December&#160;15, 2025. Early adoption permitted for entities that have adopted the amendments in Update 2020-06. The amendments may be applied either (1) prospectively to any settlements of convertible debt instruments that occur after the effective date of this ASU or (2) retrospectively to all prior periods that occurred after the adoption of the amendments in Update 2020-06. We are currently evaluating the impact of this standard on our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 3 &#8211; Disaggregation of Revenue</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD>&#160;</TD>
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    <TD STYLE="text-align: right">&#160;</TD>
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<TR STYLE="vertical-align: bottom">
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
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    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <TD STYLE="padding-bottom: 1pt; vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; width: 9%; text-align: right">1,224</TD>
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    <TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,224</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&#160;</TD>
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    <TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<!-- Field: Rule-Page --><DIV STYLE="width: 25%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&#160;</DIV></DIV><!-- Field: /Rule-Page -->



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    <TD STYLE="vertical-align: top; width: 0.25in">(1)</TD>
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  <TR>
    <TD STYLE="vertical-align: top">(2)</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 4 &#8211; Property and Equipment, net</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 5 &#8211; Goodwill and Intangible Assets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company reviews goodwill for impairment on a reporting unit basis annually on November&#160;30 (beginning with fiscal year 2024) and whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The carrying amount of goodwill as of March&#160;31, 2025 and December&#160;31, 2024, was $8,737 thousand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We first assess qualitative factors, such as macroeconomic conditions, changes in the business environment, and reporting unit-specific events, to determine whether it is more likely than not that the fair value of a reporting unit is less than it carrying amount. If we bypass the qualitative assessment or conclude that it is more likely than not that the fair value of a reporting unit is less than its carrying value, we perform a quantitative impairment test by comparing the fair value of the reporting unit with its carrying amount. For the quantitative test, we calculate the estimated fair value using a weighting of the income and market approaches.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company completed a qualitative goodwill impairment assessment as of March&#160;31, 2025 and determined that no impairment was necessary for the three months ended March&#160;31, 2025. No goodwill impairment was recognized for the year ended December&#160;31, 2024 based on the annual goodwill impairment evaluation as of November&#160;30, 2024 for the year ended December&#160;31, 2024. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="padding-bottom: 1pt; font-weight: bold">&#160;</TD>
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    <TD STYLE="width: 1%; text-align: left">&#160;</TD>
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    <TD STYLE="width: 1%; text-align: left">&#160;</TD>
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    <TD STYLE="width: 7%; text-align: right">2,333</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD>
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    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 7%; text-align: right">3,294</TD>
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    <TD STYLE="width: 1%; text-align: left">)</TD>
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    <TD STYLE="text-align: right">5,604</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="text-align: right">3,316</TD>
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    <TD STYLE="text-align: right">5,604</TD>
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    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
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    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,703</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
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    <TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</TD>
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    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&#160;</TD>
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    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">20,298</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(4,894</TD>
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    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">15,404</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Future amortization expense on intangible assets as of March&#160;2025 is anticipated to be as follows (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD>&#160;</TD>
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    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 6 &#8211; Deferred Revenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Deferred revenue consisted of the following for the
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<P STYLE="margin: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><B>&#160;</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold"><B>&#160;</B></TD>
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    <TD STYLE="padding-bottom: 1pt; font-weight: bold"><B>&#160;</B></TD>
    <TD STYLE="padding-bottom: 1pt"><B>&#160;</B></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><B>Professional<BR> Service Agreements</B></TD>
    <TD STYLE="padding-bottom: 1pt"><B>&#160;</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold"><B>&#160;</B></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><B>Hardware</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold"><B>&#160;</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold"><B>&#160;</B></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><B>Total</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold"><B>&#160;</B></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; width: 52%; vertical-align: top">Deferred Revenue &#8211; January&#160;1, 2025</TD>
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    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 9%; text-align: right">2,604</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 9%; text-align: right">61</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 9%; text-align: right">18</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 9%; text-align: right">2,683</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">(1,211</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">(13</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">(1,224</TD>
    <TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.25in; text-align: left">Revenue deferred</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">1,261</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">28</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">1,289</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1pt">Advance from customer</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">56</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">56</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; padding-bottom: 2.5pt; vertical-align: top">Deferred Revenue &#8211; March&#160;31, 2025</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,710</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">76</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">18</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,804</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</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-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; vertical-align: top; text-align: left"><B>&#160;</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold"><B>&#160;</B></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><B>License Agreements</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold"><B>&#160;</B></TD>
    <TD STYLE="padding-bottom: 1pt"><B>&#160;</B></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><B>Professional<BR> Service Agreements</B></TD>
    <TD STYLE="padding-bottom: 1pt"><B>&#160;</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold"><B>&#160;</B></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><B>Hardware</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold"><B>&#160;</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold"><B>&#160;</B></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><B>Total</B></TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold"><B>&#160;</B></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; width: 52%; vertical-align: top">Deferred Revenue &#8211; January&#160;1, 2024</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 9%; text-align: right">2,404</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 9%; text-align: right">474</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 9%; text-align: right">-</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 9%; text-align: right">2,878</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.25in; text-align: left">Revenue recognized</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">(6,202</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">(798</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">(142</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">(7,142</TD>
    <TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1pt">Revenue deferred</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,402</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">385</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">160</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,947</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; padding-bottom: 2.5pt; vertical-align: top">Deferred Revenue &#8211; December&#160;31, 2024</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,604</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">61</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">18</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,683</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Deferred revenues was approximately $2,804 thousand and $2,683 thousand as of March&#160;31, 2025 and December&#160;31, 2024 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The fair value of the deferred revenue approximates the services to be rendered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 7 &#8211; Accrued Liabilities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accrued liabilities consisted of the following for the three months ended March&#160;31, 2025 and year ended December&#160;31, 2025(in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
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    <TD STYLE="width: 9%; text-align: right">1,773</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="text-align: right">271</TD>
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    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="text-align: right">93</TD>
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    <TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: right">13</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD>
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    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Financed Director &amp; Officers Insurance</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company entered into a Directors &amp; Officers (&#8220;D&amp;O&#8221;) insurance agreement with Oakwood D&amp;O Insurance, effective on March&#160;14, 2024. The agreement states that the Company will pay a total of $310 thousand in premiums at an annual percentage rate of 9.5%. The first of ten monthly separate installment payments begin on April&#160;14, 2024. The Company paid a down payment on the policy of $85 thousand. As of March&#160;31, 2025 and December&#160;31, 2024, the Company currently owes $240 thousand and $23 thousand, respectively on the D&amp;O insurance policy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 8 &#8211; Promissory Note</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Note payable consisted of the following (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</TD>
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    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</TD>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 1pt">&#160;</TD>
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    <TD STYLE="padding-bottom: 1pt; font-weight: bold">&#160;</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 1pt">&#160;</TD>
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    <TD STYLE="padding-bottom: 1pt; font-weight: bold">&#160;</TD></TR>
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    <TD STYLE="text-align: right">603</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="text-align: left; width: 1%">&#160;</TD>
    <TD STYLE="text-align: right; width: 9%">2</TD>
    <TD STYLE="text-align: left; width: 1%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="text-align: left; width: 1%">&#160;</TD>
    <TD STYLE="text-align: right; width: 9%">372</TD>
    <TD STYLE="text-align: left; width: 1%">&#160;</TD></TR>
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    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Accrued monitoring fee</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">273</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; text-align: right">&#160;</TD>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">605</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">4,530</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">605</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,927</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 2.5pt; text-align: right">&#160;</TD>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right">603</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December&#160;15, 2023, we entered into a note purchase agreement (&#8220;Streeterville note&#8221;) with Streeterville Capital, LLC (the &#8220;Lender&#8221;), pursuant to which we agreed to issue and sell to the Lender an unsecured promissory note (the &#8220;Note&#8221;) in an aggregate initial principal amount of $3,885 thousand, which is payable on or before the date that is 12 months from the issuance date. The initial principal amount includes an original issue discount of $870 thousand and $15 thousand that we agreed to pay to the Lender to cover the Lender&#8217;s legal fees, accounting costs, due diligence, monitoring and other transaction costs. The net proceeds of the Note are $3,000 thousand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Interest on the Note accrues at a rate of 10% per annum and is payable on the maturity date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A monitoring fee of 10% of the outstanding balance will be charged starting six (6) months from the issuance of the Note to cover Lender&#8217;s accounting, legal and other costs incurred in monitoring. The foregoing fee shall automatically be added to the outstanding balance on the applicable date without any further action by either party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Lender shall have the right to redeem up to an aggregate of 1/6th of the initial principal balance of the Note plus any interest accrued thereunder each month by providing written notice delivered to us; provided, however, that if the Lender does not exercise any monthly redemption amount in its corresponding month then such monthly redemption amount shall be available for the Lender to redeem in any further month in addition to such future month&#8217;s monthly redemption amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Upon receipt of any monthly redemption notice, we shall pay the applicable monthly redemption amount in cash to the Lender within five (5) business days of the Company&#8217;s receipt of such monthly redemption notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Note includes customary event of default provisions, subject to certain cure periods, and provides for a default interest rate of 22%. Upon the occurrence of an event of default, interest would accrue on the outstanding balance beginning on the date the applicable event of default occurred at an interest rate equal to the lesser of twenty-two percent (22%) or the maximum rate permitted under applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Note Exchanges</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period from July&#160;15, 2024 to December&#160;26, 2024, the Company exchanged $3,428 thousand of the outstanding balance of the Note for approximately 2,012,107 shares of the Company&#8217;s Class A Common Stock at exchange prices between $1.47 and $2.23 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company analyzed the exchange of principal under the note as an extinguishment and compared the net carrying value of the debt being extinguished to the reacquisition price (shares of common stock being issued) and recorded an approximately $1,052 thousand loss on the exchange of debt for equity as a separate item in the other income (expense) section of the consolidated statements of operations for the year ended December&#160;31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of January&#160;17, 2025, the Company paid down the entire Streeterville note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Interest expense recognized on the condensed consolidated statement of operations and comprehensive loss were approximately $2 thousand and $320 thousand for the three months ended March&#160;31, 2025 and March&#160;31, 2024 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 9 &#8211; Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Public Warrants</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of March&#160;31, 2025 and December&#160;31, 2024, there were 10,751,862 Public Warrants outstanding. Each whole warrant entitles the holder thereof to purchase one share of the Company&#8217;s Class A common stock at a price of $11.50 per share, subject to adjustments described in the Company&#8217;s registration statement on Form S-1 (Registration No. 333-249177) filed in connection with its initial public offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Public Warrants is exercisable and will expire on March&#160;15, 2028 or earlier upon redemption or liquidation. Public Warrants may only be exercised for a whole number of shares. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Private Warrants</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of March&#160;31, 2025 and December&#160;31, 2024, there were 10,280,000 Private Placement Warrants outstanding. The Private Placement Warrants are identical to the Public Warrants, except that the Private Placement Warrants and the shares of Class A common stock issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable or salable until April&#160;14, 2023 subject to certain limited exceptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Additionally, the Private Placement Warrants will be exercisable on a cashless basis and be non-redeemable, except as described above, so long as they are held by the initial purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the periods ended March&#160;31, 2025 and December&#160;31, 2024, there were no exercises or exchanges made in relation with the Company&#8217;s Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 10 &#8211; Stock Option Plan and Stock-Based Compensation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>2023 Equity Incentive Plan</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At the special meeting held on March&#160;10,
2023, the KINS stockholders considered and approved, among other things, the Incentive Plan. The Incentive Plan was previously
approved, subject to stockholder approval, by KINS&#8217; board of directors. The Incentive Plan became effective immediately upon
the closing of the Business Combination. Pursuant to the terms of the Incentive Plan, there were 2,110,500 shares of CXApp Class A
Common Stock available for issuance under the Incentive Plan, which is equal to 15% of the aggregate number of shares of CXApp
common stock issued and outstanding immediately after the closing of the Business Combination (giving effect to the
redemptions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Employee Stock Options</I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February&#160;6, 2024, a total of 705,000 stock options to purchase the Company&#8217;s common stock were granted to employees and consultants of the Company. These options vest over a 4-year period. The options have a life of 10 years and an exercise price of $1.20 per option. The stock options were valued using the Black-Scholes option valuation model and the weighted average fair value of the awards granted during the period was determined to be $0.74 per option on the grant date. The fair value of the common stock as of the grant date utilized in the Black-Scholes option valuation model was $1.21 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August&#160;26, 2024, the Board approved the award of 230,000 options to purchase common stock pursuant to the 2023 Equity Incentive Plan to Joy Mbanugo, the Chief Financial Officer of the Company. The option has an exercise price of $2.40 per share. The options expire on August&#160;26, 2034. The stock options were valued using the Black-Scholes option valuation model and the fair value of the awards granted was determined to be $1.49 per option on the grant date. The fair value of the common stock as of the grant date utilized in the Black-Scholes option valuation model was $2.40 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



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    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="text-align: right">&#160;</TD>
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<TR STYLE="vertical-align: bottom">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Restricted Stock Units</I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The grant date fair value for Restricted Stock Units (RSU) are valued using the closing price of the Company&#8217;s common stock on the date of grant.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: right">&#160;</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="text-align: right">&#160;</TD>
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<TR STYLE="vertical-align: bottom">
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    <TD STYLE="padding-bottom: 1pt; font-weight: bold">&#160;</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
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    <TD STYLE="padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
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    <TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: right">&#160;</TD>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <TD>&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of March&#160;31, 2025 and March&#160;31, 2024, the Company has approximately $656 thousand and $1,454 thousands of unrecognized restricted stock unit compensation to be expensed over a weighted average period of 0.78 year and 1.76 years, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 11 &#8211; Convertible Debt</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Securities Purchase Agreement with Avondale Capital, LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March&#160;26, 2025, the Company entered into a Securities Purchase Agreement (&#8220;SPA&#8221;) with Avondale Capital, LLC (&#8220;Avondale&#8221;), pursuant to which the Company may issue and sell up to $20,000 thousand of Pre-Paid Purchase agreements (&#8220;Pre-Paid Purchases&#8221;) in tranches over time. The initial Pre-Paid Purchase (&#8220;Pre-Paid Purchase #1&#8221;) included a $4,200 thousand Pre-Paid Purchase, structured with a $200 thousand original issue discount (&#8220;OID&#8221;) and $10 thousand in transaction-related fees, resulting in net proceeds of $3,990 thousand, received on April&#160;8, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the initial closing, the Company was required to issue 80,000 commitment shares to Avondale. As of March&#160;31, 2025, the commitment shares were not issued and the Company recorded a liability of $69 thousand on March&#160;26, 2025 for the shares to be issued within other current liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Avondale convertible Pre-Paid Purchase #1 accrues interest on the outstanding balance at 5% per annum. Avondale may redeem all or any part of the outstanding balance of the Avondale convertible Pre-Paid Purchase #1 at any time following earlier of six months from the purchase price date and the effectiveness of the Initial Registration Statement by providing a written notice, in cash or converting into shares of the Company&#8217;s common stock at a price equal to the lower of (a) Fixed Price of $1.106 and (b) Market Price which is 91% multiplied by the lowest daily volume weighted average price (&#8220;VWAP&#8221;) during the ten (10) consecutive trading days immediately prior to the written notice date, but in any event not lower than the Floor Price of $0.1843, subject to certain adjustments and ownership limitations specified in the Avondale convertible Pre-Paid Purchase #1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Securities Purchase Agreement with Streeterville Capital LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May&#160;22, 2024, the Company entered into a Securities Purchase Agreement (the &#8220;SPA&#8221;) with Streeterville Capital, LLC (&#8220;Streeterville&#8221;), pursuant to which Streeterville desired to purchase up to $10,000,000 shares of the Company&#8217;s Common Stock and the Company issued an unsecured convertible Pre-Paid Purchase #1 to Streeterville. The SPA required 40,000 common shares of the Company&#8217;s Class A Common Stock to be issued as of closing date (May&#160;22, 2024). The Company recorded a liability of $130 thousand on May&#160;22, 2024, for the shares to be issued within contract to issue common stock. The Company issued the Class A Common Stock on October&#160;10, 2024, and recorded a gain of $68 thousand on settlement of the contract to issue common stock.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The convertible Pre-Paid Purchase #1 has the original principal amount of $2,625 thousand and Streeterville gave consideration of $2,480 thousand, reflecting original issue discount of $125 thousand and Streeterville&#8217;s transaction cost of $20 thousand. On June&#160;3, 2024, the Company received the net proceeds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The convertible Pre-Paid Purchase #1 accrues interest on the outstanding balance at 5% per annum. Streeterville may redeem all or any part of the outstanding balance of the convertible Pre-Paid Purchase #1, at any time following earlier of six months from the purchase price date and the effectiveness of the Initial Registration Statement by providing a written notice, in cash or converting into shares of the Company&#8217;s common stock at a price equal to the lower of (a) Fixed Price of $3.996 and (b) Market Price which is 91% multiplied by the lowest daily volume weighted average price (&#8220;VWAP&#8221;) during the ten (10) consecutive trading days immediately prior to the written notice date, but in any event not lower than the Floor Price of $0.666, subject to certain adjustments and ownership limitations specified in the convertible Pre-Paid Purchase. The Pre-Paid Purchase #1 was recorded at its initial fair value of $2,562 thousand and the Company recognized an unrealized gain on change in fair value of convertible debt of $63 thousand. As of March&#160;31, 2025, Pre-Paid Purchase #1 is recorded at fair value of $226 thousand and is within convertible debt on the accompanying consolidated balance sheets. For the three months ended March&#160;31, 2025, the Company recognized an unrealized loss on change in fair value of Pre-Paid Purchase #1 of $33 thousand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September&#160;30, 2024, the Company issued an unsecured convertible Pre-Paid Purchase #2 to Streeterville, pursuant to the SPA. The convertible Pre-Paid Purchase #2 has the original principal amount of $1,050 thousand and Streeterville gave consideration of $1,000 thousand, reflecting original issue discount of $50 thousand. On September&#160;30, 2024, the Company received the net proceeds from Streeterville.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December&#160;9, 2024, the Company issued an unsecured convertible Pre-Paid Purchase #3 to Streeterville, pursuant to the SPA. The convertible Pre-Paid Purchase #3 has the original principal amount of $3,150 thousand and Streeterville gave consideration of $3,000 thousand, reflecting original issue discount of $150 thousand. On December&#160;9, 2024, the Company received the net proceeds from Streeterville.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The convertible Pre-Paid Purchase #3 accrues interest on the outstanding balance at 5% per annum. Streeterville may redeem all or any part of the outstanding balance of the convertible Pre-Paid Purchase #3, at any time following earlier of six months from the purchase price date and the effectiveness of the Initial Registration Statement by providing a written notice, in cash or converting into shares of the Company&#8217;s common stock at a price equal to the lower of (a) Fixed Price of $1.987 and (b) Market Price which is 91% multiplied by the lowest daily volume weighted average price (&#8220;VWAP&#8221;) during the ten (10) consecutive trading days immediately prior to the written notice date, but in any event not lower than the Floor Price of $0.331, subject to certain adjustments and ownership limitations specified in the convertible Pre-Paid Purchase. The Pre-Paid Purchase #3 was recorded at its initial fair value of $2,986 thousand. The Company recognized an unrealized gain on change in fair value of pre-paid #3 of $164 thousand. As of March&#160;31, 2025, Pre-Paid Purchase #3 is recorded at fair value of $2,994 and is within convertible debt on the accompanying consolidated balance sheets. For the three months ended March&#160;31, 2025, the Company recognized an unrealized loss on change in fair value of Pre-Paid Purchase #3 of $52 thousand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table presents changes in convertible debt measured at fair value for the three months ended March&#160;31, 2025 and for the year ended December&#160;31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<TR STYLE="vertical-align: bottom">
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<P STYLE="margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(1)</P> </TD>
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended March&#160;31, 2025, the company have issued 242,491 shares of the company&#8217;s Class A Common stock pursuant to purchase notices related to Pre-Paid Purchase#1. The shares issued have a total exchange amount of $350 thousand with exchange price of $1.44.</P> </TD> </TR>
  <TR>
    <TD STYLE="text-align: justify; vertical-align: top; background-color: #FFFFFF">(2)</TD>
    <TD STYLE="text-align: justify; vertical-align: top; background-color: #FFFFFF">During the year ended December&#160;31, 2024, the Company has issued 1,683,104 shares of the Company&#8217;s Class A Common Stock pursuant to multiple purchase notices related to Pre-Paid Purchase #1. The shares issued have a total exchange amount of $2,100 thousand with exchange prices ranging from $1.18 to $1.41.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 12 &#8211; Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In June&#160;2024, the Company received a notice for a net exercise of 70,350 options to purchase shares of common stock resulting in the issuance of 12,570 shares of the Company&#8217;s Class A Common Stock with par value $0.0001 per share. In accordance with the terms of the Incentive Plan, 51,012 shares were withheld by the Company to cover the exercise price, and 6,768 shares were withheld in satisfaction of the taxes required to be paid in connection with the exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October&#160;10, 2024, the Company issued 40,000 shares of the Company&#8217;s Class A Common Stock as part of the Securities Purchase Agreement. The issued shares serve as the commitment shares of the agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the year ended December&#160;31, 2024, the Company issued 246,220 shares of Class A Common Stock, net of 69,445 shares of Class A Common Stock to cover the withholding tax, for the 315,665 vested Restricted Stock Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended March&#160;31, 2025, the Company issued total of 554,274 shares of Class A Common Stock to satisfy obligations due under the promissory note and convertible debt. See <I>Note 8, Promissory Note and Note 11, Convertible Debt</I>, in the accompanying notes to the consolidated financial statements for further detail.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 13 &#8211; Income Taxes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recorded an income tax benefit of approximately $0 and $207 thousand for the three months ended March&#160;31, 2025 and March&#160;31, 2024 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The effective tax rate for three months ended March&#160;31, 2025 and March&#160;31, 2024 was 0% and 3.85%, respectively. The effective tax rate differs from the U.S. Federal statutory rate primarily due to recording a valuation allowance against deferred tax assets in the foreign jurisdictions and the significant permanent differences including change in fair value of derivative warrant liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 14 &#8211; Credit Risk and Concentrations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial instruments that subject the Company to credit risk consist principally of trade accounts receivable and cash and cash equivalents. The Company performs certain credit evaluation procedures and does not require collateral for financial instruments subject to credit risk. The Company believes that credit risk is limited because the Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk of its customers, establishes an allowance for credit losses and, consequently, believes that its accounts receivable credit risk exposure beyond such allowances is limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company maintains cash deposits with financial institutions, which, from time to time, may exceed federally insured limits. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company&#8217;s financial condition, results of operations, and cash flows. Cash is also maintained at foreign financial institutions for its Canadian and Philippines subsidiaries and its majority-owned India subsidiary. Cash in foreign financial institutions as of March&#160;31, 2025 and December&#160;31, 2024 was $170 thousand and $166 thousand respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has not experienced any losses and
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 15 &#8211; Segment Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has determined that it operates as a single operating segment. The Company offers a vertical software-as-a-service (or SaaS) platform for the enterprise. The flagship product, the CXAI Platform (pronounced &#8220;Sky&#8221;), provides a comprehensive suite of tools designed to empower employees and enable organizations to create smarter workplaces. The Company&#8217;s Chief Executive Officer is the Chief Operating Decision Maker (&#8220;CODM&#8221;). The CODM allocates resources and makes operating decisions based on consolidated net income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The CODM does not evaluate profitability below the level of the consolidated company. The Company uses net income (loss) as the primary measure of financial performance. However, in evaluating operating results on a budget versus actual basis, the Company focuses on cash-based operating expenses as a more cost of revenue, professional services, marketing, research and development, and other general and administrative expenses&#8212;to be significant. In contrast, the Company does not place significant emphasis on stock-based compensation, amortization of intangibles, change in fair value of warrant liabilities, loss on debt extinguishment, and other non-cash adjustments in its internal analysis of period-over-period operating results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table presents selected financial information with respect to the Company&#8217;s single operating segment:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
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    <TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.25in; text-align: left">Loss on debt extinguishment</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
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    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Add:</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1pt">Income tax benefit</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">207</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
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    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
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    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">(3,886</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Less:</TD>
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    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,307</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD>
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    <TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
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    <TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD>
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    <TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<!-- Field: Rule-Page --><DIV STYLE="width: 25%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&#160;</DIV></DIV><!-- Field: /Rule-Page -->



<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="vertical-align: top; width: 0.25in; background-color: #FFFFFF; text-align: justify">(1)</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 16 &#8211; Foreign Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <TD STYLE="display: none; vertical-align: top; text-indent: -0.25in; padding-left: 0.25in; text-align: left">Schedule of financial data by geographic area</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-indent: -0.25in; padding-left: 0.25in; text-align: left">&#160;</TD>
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    <TD STYLE="padding-bottom: 1pt; font-weight: bold">&#160;</TD>
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    <TD STYLE="padding-bottom: 1pt; font-weight: bold">&#160;</TD>
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    <TD STYLE="padding-bottom: 1pt; font-weight: bold">&#160;</TD>
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    <TD STYLE="padding-bottom: 1pt; font-weight: bold">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-decoration: underline; vertical-align: top; text-indent: -0.25in; padding-left: 0.25in; font-weight: bold; text-align: left">For the three months Ended March&#160;31, 2025</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="width: 1%">&#160;</TD>
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    <TD STYLE="width: 1%; text-align: left">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
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    <TD STYLE="width: 9%; text-align: right">27</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 9%; text-align: right">207</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 9%; text-align: right">(207</TD>
    <TD STYLE="width: 1%; text-align: left">)</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD>
    <TD STYLE="width: 9%; text-align: right">1,224</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(3,315</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(440</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">10</TD>
    <TD STYLE="text-align: left"></TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(3,745</TD>
    <TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.25in; padding-left: 0.25in; text-align: left">Net loss by geographic area</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(1,182</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(442</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">8</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(1,616</TD>
    <TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-indent: -0.25in; padding-left: 0.25in; text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-decoration: underline; vertical-align: top; text-indent: -0.25in; padding-left: 0.25in; font-weight: bold; text-align: left">For the three months Ended March 31, 2024</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">1,667</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">151</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">240</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(240</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">1,818</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(3,000</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(602</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">15</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(3,587</TD>
    <TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-indent: -0.25in; padding-left: 0.25in; text-align: left">Net income (loss) by geographic area</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(4,527</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(657</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">14</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(5,170</TD>
    <TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.25in; padding-left: 0.25in; text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-decoration: underline; vertical-align: top; text-indent: -0.25in; padding-left: 0.25in; font-weight: bold; text-align: left">As of March&#160;31, 2025</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.25in; padding-left: 0.25in; text-align: left">Identifiable assets by geographic area</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">28,535</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">261</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">456</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">29,252</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-indent: -0.25in; padding-left: 0.25in; text-align: left">Long lived assets by geographic area</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">14,978</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">144</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">21</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">15,143</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.25in; padding-left: 0.25in; text-align: left">Goodwill by geographic area</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">8,737</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">-</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">8,737</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-indent: -0.25in; padding-left: 0.25in; text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-decoration: underline; vertical-align: top; text-indent: -0.25in; padding-left: 0.25in; font-weight: bold; text-align: left">As of December&#160;31, 2024</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-indent: -0.25in; padding-left: 0.25in; text-align: left">Identifiable assets by geographic area</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">38,143</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">627</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">434</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">(2,623</TD>
    <TD STYLE="text-align: left">)</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">36,581</TD>
    <TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: -0.25in; padding-left: 0.25in; text-align: left">Long lived assets by geographic area</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">18,269</TD>
    <TD STYLE="text-align: left">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD>
    <TD STYLE="text-align: right">320</TD>
    <TD STYLE="text-align: left">&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 17 &#8211; Leases</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has operating leases for administrative offices in Canada, the Philippines, and the United States. The Manila, Philippines office lease expires in May&#160;2025, the Canada lease expires in May&#160;2026, and the United States office lease expires in April&#160;2026. The Company has no other operating or financing leases with terms greater than 12 months.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Lease expense for operating leases recorded on the balance sheet is based on the future minimum lease payments recognized on a straight-line basis over the term of the lease plus any variable lease costs. Operating lease expenses, inclusive of short-term and variable lease expenses, recognized in the Company&#8217;s unaudited condensed consolidated statement of operations for the three months ended March&#160;31, 2025 and for the year ended March&#160;31, 2024 was approximately $107 thousand, and $113 thousand, respectively.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 18 &#8211; Commitments and Contingencies</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Risks and Uncertainties</I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Various social and political circumstances in the United States and around the world (including wars and other forms of conflict, including rising trade tensions between the United States and China, and other uncertainties regarding actual and potential shifts in the United States and foreign, trade, economic and other policies with other countries, terrorist acts, security operations and catastrophic events such as fires, floods, earthquakes, tornadoes, hurricanes and global health epidemics) may also contribute to increased market volatility and economic uncertainties or deterioration in the United States and worldwide. Specifically, the rising conflict between Russia and Ukraine, and resulting market volatility could adversely affect the Company&#8217;s ability to complete a Business Combination. In response to the conflict between Russia and Ukraine, the United States and other countries have imposed sanctions or other restrictive actions against Russia. Any of the above factors, including sanctions, export controls, tariffs, trade wars and other governmental actions, could have a material adverse effect on the Company and the value of the Company&#8217;s securities.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management continues to evaluate the impact of these types of risks and has concluded that while it is reasonably possible that these risks and uncertainties could have a negative effect on the Company&#8217;s financial position, results of its operations and/or search for a target company, the specific impact is not readily determinable as of the date of these condensed consolidated financial statements. The condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Litigation</I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company&#8217;s financial statements. If the assessment indicates that a potentially material loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability and an estimate of the range of possible losses, if determinable and material, would be disclosed.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Loss contingencies considered remote are generally not disclosed, unless they involve guarantees, in which case the guarantees would be disclosed. There can be no assurance that such matters will not materially and adversely affect the Company&#8217;s business, financial position, and results of operations or cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 19 &#8211; Subsequent Events</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Draw from Avondale Pre-Paid Purchase.</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April&#160;8, 2025, the Company received net cash proceeds of $3,990 thousand from the initial tranche of the Pre-Paid Purchase Agreement with Avondale, as per the SPA entered into on March&#160;26, 2025. The initial tranche was structured with a principal amount of $4,200 thousand, less a $200 thousand OID and $10 thousand in transaction-related fees, resulting in the net cash proceeds mentioned above. </P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT ID="a_008"></FONT>Item 2. Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>You should read the following discussion of our financial condition and results of operations in conjunction with the unaudited condensed consolidated financial statements and related notes included elsewhere in this Form 10-Q, with the audited condensed consolidated financial statements included in our Annual Report on 10-K filed with the Securities and Exchange Commission (&#8220;SEC&#8221;) on April&#160;7, 2025 (the &#8220;Annual Report&#8221;). References in this report (the &#8220;Quarterly Report&#8221;) to &#8220;we&#8221;, &#8220;us&#8221; or the &#8220;Company&#8221; refer to CXApp Inc. References to our &#8220;management&#8221; or our &#8220;management team&#8221; refer to our officers and directors. The following management&#8217;s discussion and analysis of financial condition and results of operations describes the principal factors affecting the results of our operations, financial condition, and changes in financial condition for the three months ended March&#160;31, 2025.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Special Note Regarding Forward-Looking Statements</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This Quarterly Report includes &#8220;forward-looking statements&#8221; within the meaning of Section&#160;27A of the Securities Act of 1933 and Section&#160;21E of the Exchange Act that are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. All statements, other than statements of historical fact included in this Form 10-Q including, without limitation, statements in this &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; regarding the Company&#8217;s financial position, business strategy and the plans and objectives of management for future operations, are forward-looking statements. Words such as &#8220;expect,&#8221; &#8220;believe,&#8221; &#8220;anticipate,&#8221; &#8220;intend,&#8221; &#8220;estimate,&#8221; &#8220;seek&#8221; and variations and similar words and expressions are intended to identify such forward-looking statements. Such forward-looking statements relate to future events or future performance, but reflect management&#8217;s current beliefs, based on information currently available. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors section of the Company&#8217;s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;). The Company&#8217;s securities filings can be accessed on the EDGAR section of the SEC&#8217;s website at www.sec.gov. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Overview of Our Business</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Executive Overview</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At CXApp, we are at the forefront of transforming the modern workplace through AI-powered solutions that enhance employee experience, operational efficiency, and workplace intelligence. As a leader in this evolving market, our strategic focus is to drive sustainable growth, scale our enterprise customer base, and deliver innovative solutions that leverage data and artificial intelligence to optimize workplace experiences.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In fiscal year 2025, we prioritized three strategic pillars:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Financial Performance Summary</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Revenue Growth and Customer Expansion</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Cash Flow and Liquidity Position</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Competitive Positioning and Market Outlook</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Conclusion</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As we advance our strategic roadmap, CXApp remains focused on executing with discipline and precision. Our AI-first approach, financial discipline, and emphasis on customer-centric innovation are key drivers of our long-term vision to redefine employee experiences in the hybrid workplace. By leveraging our strong foundation and expanding our enterprise footprint, we are well-positioned to deliver sustained growth and value for our stakeholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Recent Events</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of January&#160;17, 2025, the Company paid down the entire December&#160;2023 Note. On April&#160;8, 2025, the Company received proceeds from the Avondale convertible Pre-Paid Purchase #1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>RESULTS OF OPERATIONS</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table sets forth our results of operations. This data should be read together with our unaudited financial statements and related notes.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Revenues</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Non-GAAP Financial information</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This non-GAAP measure excludes certain items required by U.S. GAAP and should not be considered as an alternative to information reported in accordance with U.S. GAAP. The table below presents our adjusted EBITDA, reconciled to net income, which is the most comparable GAAP measure, for the periods indicated (in thousands).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We rely on Adjusted EBITDA, which is a non-GAAP financial measure for the following:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Even though we believe Adjusted EBITDA is useful for investors, it does have limitations as an analytical tool. Thus, we strongly urge investors not to consider this metric in isolation or as a substitute for net income (loss) and the other condensed consolidated statement of operations data prepared in accordance with GAAP. Some of these limitations include the fact that:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of March&#160;31, 2025, the Company has a working capital deficiency of approximately $4,017 thousand and cash of approximately $3,893 thousand. For the three months ended March&#160;31, 2025, the Company incurred net loss of approximately $1,611 thousand and used approximately $979 thousand of cash for operating activities.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Cash Flows from Financing Activities for the three months ended March&#160;31, 2025 and March&#160;31, 2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There were no cash flows provided by or used in financing activities during three months ended March&#160;31, 2025 or March&#160;31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Off-Balance Sheet Arrangements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We do not have any off-balance sheet guarantees, interest rate swap transactions or foreign currency contracts. We do not engage in trading activities involving non-exchange traded contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Contractual Obligations and Commitments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Contractual obligations are cash that we are obligated to pay as part of certain contracts that we have entered during our course of business. Our contractual obligations consist of operating lease liabilities that are included in our balance sheet. As of March&#160;31, 2025, the total obligation for operating leases is approximately $365 thousand, of which approximately $274 thousand is expected to be paid in the next twelve months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Quantitative and Qualitative Disclosures about Market Risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Critical Accounting Policies and Estimates</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our unaudited condensed consolidated financial statements are prepared in accordance with U.S. Generally Accepted Accounting Principles (&#8220;GAAP&#8221;). In connection with the preparation of our financial statements, we are required to make assumptions and estimates about future events, and apply judgments that affect the reported amounts of assets, liabilities, revenue, expenses and the related disclosures. We base our assumptions, estimates and judgments on historical experience, current trends and other factors that management believes to be relevant at the time our unaudited condensed consolidated financial statements are prepared. On a regular basis, we review the accounting policies, assumptions, estimates and judgments to ensure that our financial statements are presented fairly and in accordance with GAAP. However, because future events and their effects cannot be determined with certainty, actual results could differ from our assumptions and estimates, and such differences could be material.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><FONT STYLE="text-decoration: underline">Critical Accounting Policies</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our significant accounting policies are discussed in Note 2 of the unaudited condensed consolidated financial statements which are included elsewhere in this filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I><FONT STYLE="text-decoration: underline">Critical Accounting Estimates</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We consider an accounting judgment, estimate or assumption to be critical when (1) the estimate or assumption is complex in nature or requires a high degree of judgment and (2) the use of different judgments, estimates and assumptions could have a material impact on our unaudited condensed consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company believes there have been no significant changes during the three months ended March&#160;31, 2025 to the items disclosed as critical accounting estimates in management&#8217;s discussion and analysis in the Company&#8217;s Annual Report on Form 10-K for the year ended December&#160;31, 2024 that was filed with the SEC on April&#160;7, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>JOBS Act Accounting Election</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Following the transaction, CXApp will be an &#8220;emerging growth company&#8221; as defined in the JOBS Act. As such, the Company will be eligible to take advantage of certain exemptions from various reporting requirements that apply to other public companies that are not emerging growth companies, including compliance with the auditor attestation requirements of Section&#160;404 of the Sarbanes-Oxley Act and the requirements to hold a non-binding advisory vote on executive compensation and any golden parachute payments not previously approved. The Company has not made a decision whether to take advantage of any or all of these exemptions. If the Company does take advantage of some or all of these exemptions, some investors may find the Company&#8217;s common stock less attractive. The result may be a less active trading market for the Company&#8217;s common stock and its stock price may be more volatile.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, Section&#160;107 of the JOBS Act provides that an emerging growth company may take advantage of the extended transition period provided in Section&#160;13(a) of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), for complying with new or revised accounting standards, meaning that CXApp, as an emerging growth company, can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company has elected to take advantage of this extended transition period, and therefore our financial statements may not be comparable to those of companies that comply with such new or revised accounting standards. Section&#160;107 of the JOBS Act provides that our decision not to opt out of the extended transition period for complying with new or revised accounting standards is irrevocable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT ID="a_009"></FONT>Item 3. Quantitative and Qualitative Disclosures About Market Risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT ID="a_010"></FONT>Item 4. Controls and Procedures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Disclosure Controls and Procedures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Disclosure controls are procedures that are designed with the objective of ensuring that information required to be disclosed in our reports filed under the Exchange Act is recorded, processed, summarized, and reported within the time period specified in the SEC&#8217;s rules and forms. Disclosure controls are also designed with the objective of ensuring that such information is accumulated and communicated to our management, including the chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We conducted an evaluation, under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, of our disclosure controls and procedures (as defined in Rule&#160;13a-15(e) and Rule&#160;15d-15(e) of the Exchange Act). Based upon this evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective as of March&#160;31, 2025. The material weakness and remediation activities were discussed in Part II, Item 9A &#8220;Controls and Procedures&#8221; of the Company&#8217;s 2024 Annual Report filed on April&#160;7, 2025. The company is planning to file its Q1 2025 reporting by May&#160;20, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Changes in Internal Control over Financial Reporting</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There have been no changes in our internal control over financial reporting (as defined in Rule&#160;13a-15(f) under the Exchange Act) during the three months ended March&#160;31, 2025 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT ID="a_011"></FONT><B>PART II. OTHER INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT ID="a_012"></FONT><B>Item 1. Legal Proceedings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There is no material litigation, arbitration or governmental proceeding currently pending against CXApp or any members of its management team in their capacity as such.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT ID="a_013"></FONT><B>Item 1A. Risk Factors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Factors that could cause our actual results to differ materially from those in this Quarterly Report include the risk factors described in the Annual Report on Form 10-K filed with the SEC. As of the date of this Quarterly Report, there have been no material changes to the risk factors disclosed in our Annual Report on Form 10-K filed with the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT ID="a_014"></FONT><B>Item 2. Unregistered Sales of Equity Securities and Use of Proceeds</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT ID="a_015"></FONT><B>Item 3. Defaults Upon Senior Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT ID="a_016"></FONT><B>Item 4. Mine Safety Disclosures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT ID="a_017"></FONT><B>Item 5. Other Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Insider Trading Arrangements and Policies</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended March&#160;31, 2025, no director or officer of CXApp notified CXApp of the adoption or termination of a &#8220;Rule&#160;10b5-1 trading arrangement&#8221; or &#8220;non-Rule&#160;10b5-1 trading arrangement,&#8221; as each term is defined in Item 408(a) of Regulation S-K</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT ID="a_018"></FONT><B>Item 6. Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following exhibits are filed as part of, or incorporated by reference into, this Quarterly Report on Form 10-Q.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 9%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
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  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.2<SUP>(1)</SUP></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1820875/000110465922102856/tm2226567d1_ex2-2.htm">Separation and Distribution Agreement, dated as of September 25, 2022, by and among KINS Technology Group Inc., Inpixon, CXApp Holding Corp. and Design Reactor, Inc.</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3<SUP>(1)</SUP></FONT></TD>
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    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1820875/000110465922102856/tm2226567d1_ex2-3.htm">Sponsor Support Agreement, dated as of September 25, 2022, by and among KINS Capital LLC, KINS Technology Group Inc., Inpixon and CXApp Holding Corp.</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1<SUP>(2)</SUP></FONT></TD>
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    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/0001820875/000110465923034553/tm239336d1_ex3-1.htm">Amended and Restated Certificate of Incorporation of the Company.</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2<SUP>(3)</SUP></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1820875/000182912624007426/cxappinc_ex3-2.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amended and Restated Bylaws of the Company, effective as of November 8, 2024.</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1820875/000110465920138071/tm2038766d1ex4-1.htm">Warrant Agreement, dated as of December 14, 2020, by and between KINS and Continental Stock Transfer &amp; Trust Company, as warrant agent (incorporated herein by reference from Exhibit 4.1 on KINS&#8217; Form 8-K, filed December 21, 2020).</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2<SUP>(2)</SUP></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/0001820875/000110465923034553/tm239336d1_ex4-2.htm">Specimen CXApp Inc. Class A Common Stock Certificate.</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3<SUP>(2)</SUP></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/0001820875/000110465923034553/tm239336d1_ex4-3.htm">Specimen CXApp Inc. Class C Common Stock Certificate.</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4<SUP>(2)</SUP></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1820875/000110465920138071/tm2038766d1ex4-1.htm">Specimen Warrant Certificate of the Company.</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1<SUP>(2)(#)</SUP></FONT></TD>
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  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/0001820875/000110465923034553/tm239336d1_ex10-11.htm">Transition Services Agreement, dated March 14, 2023, by and between Inpixon and Legacy CXApp.</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.4<SUP>(2)(#)</SUP></FONT></TD>
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    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.5<SUP>(#)</SUP></FONT></TD>
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    <TD STYLE="vertical-align: top; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1820875/000182912625002438/cxappinc_ex10-19.htm">Exchange Agreement, dated as of January&#160;17, 2025, by and between CXApp Inc. and Streeterville Capital, LLC.</A></TD></TR>
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    <TD STYLE="text-align: center">10.10<SUP>(5)</SUP></TD>
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    <TD STYLE="vertical-align: top; text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/1820875/000182912625002438/cxappinc_ex10-20.htm">Securities Purchase Agreement, dated as of March&#160;26, 2025, by and between CXApp Inc. and Avondale Capital, LLC.</A></TD></TR>
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    <TD STYLE="text-align: justify; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/0001820875/000110465923034553/tm239336d1_ex14-1.htm">Code of Ethics and Business Conduct of CXApp Inc.</A></FONT></TD></TR>
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    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31.1<SUP>(*)</SUP></FONT></TD>
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    <TD STYLE="text-align: justify"><A HREF="cxappinc_ex31-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</FONT></A></TD></TR>
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    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31.2<SUP>(*)</SUP></FONT></TD>
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    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32.1<SUP>(**)</SUP></FONT></TD>
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    <TD STYLE="text-align: justify"><A HREF="cxappinc_ex32-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</FONT></A></TD></TR>
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    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32.2<SUP>(**)</SUP></FONT></TD>
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    <TD STYLE="text-align: justify"><A HREF="cxappinc_ex32-2.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</FONT></A></TD></TR>
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    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">XBRL Instance Document</FONT></TD></TR>
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    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">XBRL Taxonomy Extension Calculation Linkbase Document</FONT></TD></TR>
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    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">XBRL Taxonomy Extension Definition Linkbase Document</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Incorporated by reference to the Company&#8217;s Current Report on Form 8-K filed on September&#160;26, 2022.</FONT></TD></TR>
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    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Incorporated by reference to the Company&#8217;s Current Report on Form 8-K filed on March&#160;20, 2023.</FONT></TD></TR>
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    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Incorporated by reference to the Company's Quarterly Report on Form 10-Q filed on November&#160;12, 2024.</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT ID="a_019"></FONT><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; width: 50%; vertical-align: bottom">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 5%; vertical-align: bottom">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 45%; vertical-align: bottom">&#160;</TD> </TR>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">Name:</TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">Title:</TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 5%; vertical-align: bottom">&#160;</TD>
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<DESCRIPTION>EXHIBIT 31.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 31.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION PURSUANT TO RULES&nbsp;13a-14(a)
AND 15d-14(a) UNDER THE SECURITIES EXCHANGE ACT OF 1934,<BR>
AS ADOPTED PURSUANT TO SECTION&nbsp;302 OF THE SARBANES-OXLEY ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I, Khurram Sheikh, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1. I have reviewed this Quarterly
Report on Form&nbsp;10-Q of CXApp Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2. Based on my knowledge,
this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3. Based on my knowledge,
the financial statements, and other financial information included in this report, fairly present in all material respects the financial
condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4. The registrant&rsquo;s
other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange
Act Rules&nbsp;13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules&nbsp;13a-15(f)
and 15d-15(f)) for the registrant and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a) Designed such
disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure
that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b) Designed such
internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision,
to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c) Evaluated the
effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d) Disclosed in
this report any change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s
most recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report) that has materially affected,
or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5. The registrant&rsquo;s
other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to
the registrant&rsquo;s auditors and the audit committee of the registrant&rsquo;s board of directors (or persons performing the equivalent
functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a) All significant
deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely
to adversely affect the registrant&rsquo;s ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b) Any fraud, whether
or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s internal control over
financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Date: May&nbsp;20, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="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: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 50%"><FONT STYLE="font-size: 10pt">/s/ Khurram Sheikh</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Khurram Sheikh</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">
Chairman, Chief Executive Officer and Director </TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(Principal Executive Officer)</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>



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<TYPE>EX-31.2
<SEQUENCE>3
<FILENAME>cxappinc_ex31-2.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 31.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION PURSUANT TO RULES&nbsp;13a-14(a)
AND 15d-14(a) UNDER THE SECURITIES EXCHANGE ACT OF 1934,<BR>
AS ADOPTED PURSUANT TO SECTION&nbsp;302 OF THE SARBANES-OXLEY ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I, Joy Mbanugo, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1. I have reviewed this Quarterly
Report on Form&nbsp;10-Q of CXApp Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2. Based on my knowledge,
this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3. Based on my knowledge,
the financial statements, and other financial information included in this report, fairly present in all material respects the financial
condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4. The registrant&rsquo;s
other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange
Act Rules&nbsp;13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules&nbsp;13a-15(f)
and 15d-15(f)) for the registrant and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a) Designed such
disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure
that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b) Designed such
internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision,
to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(c) Evaluated the
effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(d) Disclosed in
this report any change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s
most recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report) that has materially affected,
or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5. The registrant&rsquo;s
other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to
the registrant&rsquo;s auditors and the audit committee of the registrant&rsquo;s board of directors (or persons performing the equivalent
functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a) All significant
deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely
to adversely affect the registrant&rsquo;s ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b) Any fraud, whether
or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s internal control over
financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Date: May&nbsp;20, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="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: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 50%">/s/ Joy Mbanugo</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Joy Mbanugo</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Chief Financial Officer </TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(Principal Financial Officer and Principal Accounting Officer)</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>



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<TYPE>EX-32.1
<SEQUENCE>4
<FILENAME>cxappinc_ex32-1.htm
<DESCRIPTION>EXHIBIT 32.1
<TEXT>
<HTML>
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<P STYLE="margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 32.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION PURSUANT TO<BR>
18 U.S.C. SECTION&nbsp;1350<BR>
AS ADOPTED PURSUANT TO<BR>
SECTION&nbsp;906 OF THE SARBANES-OXLEY ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with the Quarterly
Report of CXApp Inc. (the &ldquo;Company&rdquo;) on Form&nbsp;10-Q for the quarterly period ended March&nbsp;31, 2025, as filed with
the Securities and Exchange Commission (the &ldquo;Report&rdquo;), I, Khurram Sheikh, Chairman, Chief Executive Officer and Director of
the Company, certify, pursuant to 18 U.S.C. &sect;1350, as adopted pursuant to &sect;906 of the Sarbanes-Oxley Act of 2002, that, to the
best of my knowledge:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">1. The Report fully complies
with the requirements of Section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">2. The information contained
in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Date: May&nbsp;20, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="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: bottom">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 50%"><FONT STYLE="font-size: 10pt">/s/ Khurram Sheikh</FONT></TD>
    </TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Khurram Sheikh</FONT></TD>
    </TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Chairman, Chief Executive Officer and Director </TD>
    </TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(Principal Executive Officer)</TD>
    </TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>



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<TYPE>EX-32.2
<SEQUENCE>5
<FILENAME>cxappinc_ex32-2.htm
<DESCRIPTION>EXHIBIT 32.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 32.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>CERTIFICATION
PURSUANT TO<BR>
18 U.S.C. SECTION&nbsp;1350<BR>
(AS ADOPTED PURSUANT TO<BR>
SECTION&nbsp;906 OF THE SARBANES-OXLEY ACT OF 2002)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with the
Quarterly Report of CXApp Inc. (the &#8220;Company&#8221;) on Form&nbsp;10-Q for the quarterly period ended March&nbsp;31, 2025, as filed
with the Securities and Exchange Commission (the &#8220;Report&#8221;), I, Joy Mbanugo, Chief Financial Officer of the Company,
certify, pursuant to 18 U.S.C. &sect;1350, as adopted pursuant to &sect;906 of the Sarbanes-Oxley Act of 2002, that, to the best of
my knowledge:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">1. The Report fully complies
with the requirements of Section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">2. The information contained
in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Date: May&nbsp;20, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="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: bottom">
    <TD STYLE="text-align: left; width: 50%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 50%">/s/ Joy Mbanugo</TD>
    </TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Joy Mbanugo</TD>
    </TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Chief Financial Officer </TD>
    </TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">(Principal Financial Officer and Principal Accounting Officer)</TD>
    </TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>



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<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>img_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 img_001.jpg
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MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
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M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
