Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 1363

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 9C
Chunk 1363
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 Registered Public Accounting Firms (PCAOB ID 52 & PCAOB ID 34)
    F-2
  
    Consolidated
    Financial Statements

    Consolidated Balance Sheets
    F-4
  
    Consolidated Statements of Operations
    F-5
  
    Consolidated
Statements of Stockholders’ Deficit
    F-6
  
    Consolidated Statements of Cash Flows
    F-7
  
    Notes to Consolidated Financial Statements
    F-8

F-1

REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To
the Stockholders and the Board of Directors of Ocean Biomedical, Inc.

Opinion
on the Financial Statements

We
have audited the accompanying consolidated balance sheet of Ocean Biomedical, Inc. and subsidiaries (the “Company”) as
of December 31, 2024, and the related consolidated statements of operations, stockholders’ deficit, and cash flows for the
year then ended, and the related notes (collectively referred to as the “consolidated financial statements”). In our
opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of
December 31, 2024, and the results of its operations and its cash flows for the year then ended, in conformity
with accounting principles generally accepted in the United States of America.

Substantial
Doubt about the Company’s Ability to Continue as a Going Concern

The
accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed
in Note 1 to the consolidated financial statements, the Company has suffered recurring losses from operations and has a working capital
deficiency that raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these
matters are also described in Note 1. The consolidated financial statements do not include any adjustments that might result from the
outcome of this uncertainty.

Basis
for Opinion

These
consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an
opinion on the Company’s consolidated financial statements based on our audit. We are a public accounting firm registered
with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the
Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange
Commission and the PCAOB.