Company: TELO
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010298
Chunk: 80

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 80
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 the Starwood Note, the Company has the right to borrow up to an aggregate of $5 million from the Starwood Trust at any time up
until the second anniversary of the note. The Company’s right to borrow funds under the Starwood Note is subject to the absence
of a material adverse change in its assets, operations, or prospects. The Starwood Note, together with accrued interest, is to become
due and payable on the second anniversary of the issuance of the note, provides for prepayment at any time without penalty, and accrues
simple interest at a rate equal 7% per annum. As of March 31, 2025, the Company has not borrowed any amounts under the Starwood Note.

We
have incurred significant losses and negative cash flows from operations since inception and expect to incur additional losses until
such time that we can generate significant revenue and profit, which we do not expect to occur in the near future. We had negative cash
flow from operations of approximately $0.9 million for the three months ended March 31, 2025. As of March 31, 2025, we had cash and cash
equivalents of approximately $0.4 million and an accumulated deficit of approximately $32.8 million.

We
currently expect that our cash and cash equivalents will only be sufficient to fund our operations, development plans, and capital expenditures
through the second quarter of 2025. As such, there is substantial doubt about the Company’s ability to continue as a going concern.

We
did not have any material non-cancellable contractual obligations as of March 31, 2025.

16

Cash
Flows

The
following table provides information regarding our cash flows for the periods presented:

    Three
    Months Ended March 31, 

    2025  
    2024 
  
    Net cash provided by (used
    in): 

    Operating activities 
    $(863,132) 
    $(1,939,415)
  
    Financing
    activities 
     -  
     5,212,498 
  
    Net
    change in cash 
    $(863,132  
    $3,273,083 

Net
Cash from Operating Activities

The
cash used in operating activities resulted primarily from our net losses, stock-based compensation expenses and changes in components
of accounts payable and prepaid expenses.

For
the three months ended March 31, 2025, operating activities used $