Company: CERO
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112619
Chunk: 11

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 1
Chunk 11
---
    $- 
  
    Issuance of common shares to Arena Investors LP for equity line of credit 
    $-  
    $500,000  
    $- 
  
    Conversion of Series A, Series B, Series C and Series D Preferred Stock to common stock 
    $2,271,098  
    $-  
    $- 
  
    Reclassification of deferred offering costs to additional paid-in capital 
    $112,232  
    $-  
    $- 
  
    Reclassification of accrued expenses to accounts payable 
    $1,143,826  
    $-  
    $- 
  
    Issuance of Series D Preferred Stock for investment in equity securities 
    $500,000  
    $-  
    $- 
  
    Write off of subscription receivable deemed offering cost 
    $78,750  
    $-  
    $- 

See accompanying notes to the condensed consolidated
financial statements

5

CERO THERAPEUTICS HOLDINGS,
INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
September 30, 2025

(Unaudited)

NOTE 1 – ORGANIZATION AND DESCRIPTION
OF THE BUSINESS

Nature of Operations –
CERo Therapeutics Holdings, Inc. (OTC PINK: CERO) (“CERo”, “Successor” or the “Company”), F/K/A Phoenix
Biotech Acquisition Corp. (“PBAX”) was incorporated in Delaware on June 8, 2021. PBAX was formed for the purpose of effecting
a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more
businesses (a “business combination”).

The Company is an innovative
immunotherapy company advancing the development of next generation engineered T cell therapeutics for the treatment of cancer. The Company’s
proprietary approach to T cell engineering, which enables it to integrate certain desirable characteristics of both innate and adaptive
immunity into a single therapeutic construct, is designed to engage the body’s full immune repertoire to achieve optimized cancer
therapy. The Company is in early clinical development but has not yet begun product commercialization. The Company’s efforts will
focus on continued product development, including clinical development, to support regulatory approval to commercialize and subsequent
product commercialization.

In November 2024, the U.S. Food and Drug