Company: CDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010405
Chunk: 142

Company: CDT Equity Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 142
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 Net cash provided by (used in): 

    Operating Activities 
    $(4,329) 
    $(2,357)
  
    Investing Activities 
     (4) 
     - 
  
    Financing Activities 
     5,927  
     - 
  
    Effect of exchange rate changes on cash and cash equivalents 
     (18) 
     (27)
  
    Net increase (decrease) in cash and cash equivalents 
    $1,576  
    $(2,384)

Cash
Flows Used in Operating Activities

Net cash used in operating
activities for the three months ended March 31, 2025, was $4.3 million, resulting primarily from a net loss of $5.1 million, adjusted
for non-cash items including a $1.8 million loss on the change in fair value of convertible notes payable, a $0.3 million gain on debt
extinguishment, $0.3 million gain on waiver of accrued interest, a $0.1 million gain on change in fair value of warrant liability, $0.2
million of stock-based compensation expense, $0.2 million of non-cash interest expense, $0.2 million of amortization expense, $0.4 million
of prepaid directors and officers insurance amortization and a $1.6 million cash outflow from operating assets and liabilities. The $1.6
million cash outflow from operating assets and liabilities is primarily due to a $0.7 million cash outflow from accounts payable, a $0.2
million cash outflow from accrued expenses and other current liabilities, and a $0.3 million cash outflow from prepaid expenses and other
current assets.

Net
cash used in operating activities for the three months ended March 31, 2024, was $2.4 million, resulting primarily from a net loss
of $3.6 million, adjusted for non-cash items including $0.4 million of stock-based compensation, a $0.4 million of amortization
expense, a $0.5 million expense on the issuance of warrants and a $0.1 million interest expense of the deferred commission payable.
The $0.2 million cash outflow from operating assets and liabilities is primarily due to a $0.1 million cash inflow from accrued
expense and other current liabilities due to differences in the timing of disbursements and a $0.2 million cash outflow from