The air bubbles are normal. It's just air dissolving in the liquid. The air is denser than the liquid, so it comes to the surface and tries to escape. It's normal. The same thing happens if you leave a bottle of water on a table for a couple of hours. When you come back, you will see air bubbles at the top and sides of the bottle. It's just air that has dissolved in the water and sticks to the bottle because it has nowhere to go. The N is still good as long as the liquid is clear. If the liquid gets cloudy, and you see solid particles floating in it, then you will know it has gone bad.