Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 354

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 354
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 $(5,792,483) |     | $(981,031) |     | $(4,811,452) |     | 490%     |
| Net cash provided by financing activities |     |                              6,209,535 |     |  1,022,348 |     |    5,187,187 |     | 507%     |
| Net increase in cash                      |     |                               $417,052 |     |    $41,317 |     |     $375,735 |     | 909%     |

Net Cash Used in Operating Activities For the year ended December 31, 2024, Channel incurred a net loss of $7,955,338, and net cash flows used in operating activities was $5,792,483. The cash flow used in operating activities was primarily due to a net loss of $7,955,338, offset by stock-based compensation expense of $1,799,295, amortization of debt discount of $692,020, a change in account payable and accrued expense of $1,178,573, offset by a change in prepaid expenses of $65,300, a change of $45,786 in due from Chromocell Corporation, and a change in accrued compensation in the amount of $282,856, and deferred offering costs of $750,000. For the year ended December 31, 2023, Channel incurred a net loss of $7,380,793, and net cash flows used in operating activities was $981,031. The cash flow used in operating activities was primarily due to a net loss of $7,380,793, offset by stock-based compensation expense of $1,733,233, shares issued for license of $2,225,733, amortization of debt discount of $188,119, a change in account payable and accrued expense of $1,627,005, share issuance cost associated with the extension of the bridge loan in the amount of $201,600 and an increase in accrued compensation in the amount of $424,072. Net Cash (Used in) Provided by Investing Activities The Company neither received nor used cash in investing activities during the years ended December 31, 2024 and 2023. Net Cash Provided by Financing Activities For the year ended December 31, 2024, net cash flows provided by financing activities were $6,209,535 resulting from net proceeds from common stock issued for cash of $5,972,000