Company: TELO
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023970
Chunk: 40

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 40
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 warrants herein consist of 2,429,025 warrants issued to Bay Shore Trust
    that have a remaining contractual term of 2.95 years as of June 30, 2025, 335,032 warrants issued to investors associated with the
    2023 Private Placement that currently have an indeterminable contractual term, and 50,000 warrants issued to underwriters as part
    of the IPO with a remaining contractual life of 2.65 years. See disclosures below for more information on these warrants.

    11

TELOMIR
PHARMACEUTICALS, INC.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

(Unaudited)

Underwriter
warrants

In
connection with the IPO in February 2024, the Company issued 50,000 warrants to purchase common stock to the IPO underwriter (or its
designees) at an exercise price of $7.00 are exercisable immediately and will expire in the four-and-a-half-year period commencing six
months after the IPO. The warrants will be exercisable at any time and from time to time, in whole or in part. The warrants provide for
registration rights (including a one-time demand registration right and piggyback registration rights that expire 5 years from the commencement
of sales of the offering) and customary anti-dilution provisions as permitted under FINRA Rule 5110(g)(8).

2023
Omnibus Incentive Plan

In
December 2023, the Company’s Board of Directors adopted the Company’s 2023 Omnibus Incentive Plan, (“2023 Omnibus Plan”).
The 2023 Omnibus Plan authorizes the grant of incentive stock options, within the meaning of Section 422 of the Internal Revenue Code,
to the Company’s employees and any of its parent and subsidiary corporations’ employees, and for the grant of nonstatutory
stock options, restricted stock, restricted stock units, stock appreciation rights, performance units and performance shares to the Company’s
employees, directors, and consultants and any of its future subsidiary corporations’ employees and consultants

The
2023 Omnibus Plan provides that 6,500,000 shares of the Company’s Common Stock are reserved for issuance under the 2023 Omnibus
Plan, all of which may be issued pursuant to the exercise of incentive stock options.

Stock-based
compensation

The
fair value of each option award is