Company: CDT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022373
Chunk: 79

Company: CDT Equity Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 79
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 is primarily due to a $0.8 million cash outflow from accounts payable, a $0.1 million cash
outflow from operating lease liabilities and a $0.2 million cash outflow from prepaid expenses and other current assets, partially offset
by a $0.5 million cash inflow from accrued expenses and other current liabilities.

Net
cash used in operating activities for the nine months ended September 30, 2024, was $5.9 million, resulting primarily from a net loss
of $15.4 million and a change in the fair value of warrants of $0.1 million, adjusted for non-cash items including $1.3 million of stock-based
compensation, $1.4 million of amortization expense, $2.7 million expense on the issuance of warrants, $0.2 million interest expense of
the deferred commission payable, $1.7 million non-cash share issuance and a $2.3 million cash inflow from operating assets and liabilities.
The $2.3 million cash inflow from operating assets and liabilities is primarily due to a $2.5 million cash inflow from accounts payable
and accrued expenses and other current liabilities and a $0.2 million cash outflow from prepaid expenses.

Cash
Flows Used in Investing Activities

Net
cash used in investing activities for the nine months ended September 30, 2025, was $1.4 million, resulting from $0.4 million in diagnostic
asset purchases and $1.0 million in digital asset purchase as a part of our digital asset treasury strategy.

Net
cash used in investing activities for the nine months ended September 30, 2024, was $0.1 million, resulting from $0.5 million purchases
of short-term investments offset by the issuance of a loan to a related party of $0.4 million.

34

Cash
Flows Provided by Financing Activities

Net
cash provided by financing activities for the nine months ended September 30, 2025, was $15.7 million, resulting from proceeds from the
issuance of common shares related to the ATM program of $18.0 million, partially offset by repayments of notes payable of $0.2 million,
repayments of notes payable – related parties of $0.4 million, repayment of convertible notes payable – related parties of
$0.9 million, repayment of convertible notes payable of $0.7 million, and treasury stock purchases of $