Company: REVB
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034584
Chunk: 42

Company: REVELATION BIOSCIENCES, INC.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 16
Chunk 42
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 property and equipment, gross

        151,134

        131,963

        Accumulated depreciation

        (94,802
        )

        (66,879
        )

        Total property and equipment, net
         
        $
        56,332

        $
        65,084

       Depreciation expense was $27,923 for year ended December 31, 2024 and $25,049 for the year ended December 31, 2023. Accrued ExpensesAccrued expenses consisted of the following: 

        December 31,2024

        December 31,2023

        Accrued payroll and related expenses
         
        $
        835,724

        $
        768,720

        Accrued clinical study expenses

        183,824

        10,268

        Accrued professional fees

        67,049

        219,888

        Accrued clinical development costs

        41,203

        153,584

        Total accrued expenses
         
        $
        1,127,800

        $
        1,152,460

 F-13

4. Commitments and ContingenciesLease CommitmentsThe Company leases 2,140 square feet of laboratory space located at 11011 Torreyana Road, Suite 102, San Diego, California (the “Lease”). In December 2024, the Company signed an amendment extending the Lease until February 28, 2025, with a base monthly rent equal to $5,350. The Company is required to maintain a security deposit of $5,564. The Lease contains customary default provisions, representations, warranties and covenants. In addition to rent, the Lease requires the Company to pay certain taxes, insurance and operating costs relating to the leased premises. The Company has applied the short-term lease exception as the amendment is less than twelve months. The Lease is classified as an operating lease. Rent expense was $64,200 for the year ended December 31, 2024 and $111,661 for the year ended December 31, 2023.Future minimum lease payments under the operating lease as of December 31, 2024 is $10,700.CommitmentsThe Company enters into contracts in the normal course of business with third party service providers and vendors. These contracts generally provide for termination on notice and, therefore, are cancellable contracts and not