Company: SERV
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001832483-25-000010
Chunk: 140

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-03-06
Form: 10-K
Item: Item 8
Chunk 140
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 outstanding as of December 31, 2024 and 2023— — Common stock, $0.0001 par value; 300,000,000 shares authorized, 51,396,574 and 24,832,814 shares issued and 51,288,566 and 24,508,795 shares outstanding as of December 31, 2024 and 2023, respectively5,127 2,450 Additional paid-in capital239,201,220 64,468,141 Subscription receivable— (169,616)Accumulated deficit(107,525,433)(68,334,381)Total stockholders’ equity (deficit)131,680,914 (4,033,406)Total liabilities and stockholders’ equity (deficit)$139,600,873 $2,804,549 See accompanying notes to these consolidated financial statements.

F-3

Serve Robotics Inc.

Consolidated Statements of Operations Year Ended December 31, 20242023   Revenues$1,812,483 $207,545 Cost of revenues1,887,639 1,730,262 Gross loss(75,156)(1,522,717)   Operating expenses:   General and administrative10,092,911 4,618,499 Operations3,288,779 2,564,930 Research and development24,255,023 9,947,258 Sales and marketing577,075 605,205 Impairment of long-lived assets— 1,468,995 Total operating expenses38,213,788 19,204,887    Loss from operations(38,288,944)(20,727,604)   Other income (expense), net:   Interest income (expense), net(680,548)(2,264,426)Change in fair value of derivative liability(221,560)(149,000)Change in fair value of simple agreements for future equity— (1,672,706)Total other income (expense), net (902,108)(4,086,132)   Provision for income taxes— — Net loss$(39,191,052)$(24,813,736)  Weighted average common shares outstanding - basic and diluted36,658,83414,204,078Net loss per common share - basic and diluted $(1.07)