Company: TELO
Filing Date: 2025-02-04
Form Type: 10-K
Source: 0001493152-25-004872
Chunk: 537

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-02-04
Form: 10-K
Item: Item 1B
Chunk 537
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 31, 2024. As of December
31, 2024 we had cash and cash equivalents of approximately $1.3 million.

50

We
currently expect that our cash and cash equivalents will be sufficient to fund our operations, development plans, and capital expenditures
midway 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 December 31, 2024.

Cash
Flows

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

    Year Ended December 31, 

    2024  
    2023 
  
    Net cash provided by (used in): 

    Operating activities 
    $(5,070,428) 
    $(3,859,796)
  
    Financing
    activities 
     6,335,328  
     3,859,608 
  
    Net change in cash 
    $1,264,900  
    $(188)

Net
Cash Used in Operating Activities

For
the year ended December 31, 2024, operating activities used $5.1 million of cash, primarily due to a net loss of $16.5 million, offset
by a $0.11 million change in accounts payable, accrued and prepaid expenses, $4.4 million in amortization of debt issuance costs and
$6.9 million of stock compensation expense. Accounts payable was composed of research and development payables, and accounting and legal
expenses.

For
the year ended December 31, 2023, operating activities used $3.9 million of cash, primarily due to a net loss of $13.1 million, a $0.10
million net increase in accounts payable, accrued expenses and prepaid expenses, offset by $1.6 million in amortization of debt issuance
costs and $7.5 million of a loss on the conversion of debt to common stock. Accounts payable was composed of research and development
payables, rent and legal expenses.

Net
Cash Provided by Financing Activities

For
the year ended December 31, 2024, financing activities provided $6.3 million of cash, resulting primarily from $6.8 million from the
sale of common stock and offset by $0.5 million in repayments to a related party.

For
the year ended December 31