Company: TELO
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023970
Chunk: 7

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 7
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30, 2025
and 2024, outstanding aggregate stock options and warrants of 7,054,227 and 2,824,057,
respectively, were not included in the computation of diluted earnings per share, because to do so would have had an antidilutive
effect.

Recent
accounting pronouncements not yet adopted 

In
November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic
220-40), which requires entities to provide more detailed disaggregation of expenses in the income statement, focusing on the nature
of the expenses rather than their function. The new disclosures will require entities to separately present expenses for significant
line items, including but not limited to, depreciation, amortization, and employee compensation. Entities will also be required to provide
a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively,
disclose the total amount of selling expenses and, in annual reporting periods, provide a definition of what constitutes selling expenses.
This pronouncement is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning
after December 15, 2027, with early adoption permitted. The Company does not expect the adoption of this new guidance to have a material
impact on the consolidated financial statements.

    8

TELOMIR
PHARMACEUTICALS, INC.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

JUNE
30, 2025

(Unaudited)

In
December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This new standard
requires a company to expand its existing income tax disclosures, specifically related to the rate reconciliation and income taxes paid.
The standard will be effective beginning in fiscal year 2025, with early adoption permitted. The new standard is expected to be applied
prospectively, but retrospective application is permitted. We are currently evaluating the impact of ASU 2023-09 on the consolidated
financial statements and related disclosures. The Company does not expect the adoption of this new guidance to have a material impact
on the consolidated financial statements.

Management
has considered all other recent accounting pronouncements that are issued, but not effective, and it does not believe that they will
have a significant impact on the Company