Company: TELO
Filing Date: 2025-02-04
Form Type: 10-K
Source: 0001493152-25-004872
Chunk: 108

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-02-04
Form: 10-K
Item: Item 9B
Chunk 108
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 of diluted earnings per share, because to do so would have an antidilutive
effect.

Note
2. Going Concern

The
accompanying financial statements have been prepared assuming the Company will continue as a going concern which contemplates the realization
of assets and settlement of liabilities and commitments in the normal course of business.

As
of December 31, 2024, the Company had cash of approximately $1.3
million. The Company raised approximately $6.9 million in 2024 and used approximately $5.1
million of cash in operations during the year ended December 31, 2024, had a net loss of $16.5 million in 2024 and had stockholders’ equity of approximately $0.6
million at December 31, 2024, versus stockholders’ equity of approximately $3.4
million at December 31, 2023.

Historically,
the Company has been primarily engaged in developing Telomir-1. During these activities, the Company sustained substantial losses. The
Company’s ability to fund ongoing operations and future clinical trials required for FDA approval is dependent on the Company’s
ability to obtain significant additional external funding in the near term. Since inception, the Company has financed its operations
through related party financings-see Note 4 and an initial public offering – see Note 1. Additional sources of financing may be
sought by the Company. However, there can be no assurance that any fundraising will be achieved on commercially reasonable terms, if
at all.

As
of the date of filing this Annual Report, the Company will continue to generate losses and have insufficient cash and cash equivalents
on hand to support its operations for at least the 12 months following the date the financial statements are issued.  These factors raise substantial doubt about the Company’s ability to continue as a going concern for
a period of twelve months from the issuance date of this report. Management cannot provide assurance that the Company will ultimately
achieve profitable operations or become cash flow positive or raise additional debt and/or equity capital. The Company is seeking to
raise capital through additional debt and/or equity financings to fund our operations in the future. If the Company is unable to raise
additional capital or secure additional lending in the near future, management expects that the Company will need to curtail its operations.
These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and
classification of liabilities that might be necessary should