Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2684

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1
Chunk 2684
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 during such fiscal year (as indexed for inflation), (iii) the date
on which we have issued more than $1.0 million in non-convertible debt in the prior three-year period or (iv) the last day of the fiscal
year following the fifth anniversary of the date of the first sale of our common stock, as defined by the JOBS Act. Investors may find
our securities less attractive because we will rely on these exemptions. If some investors find our securities less attractive as a result
of its reliance on these exemptions, the trading prices of our securities may be lower than they otherwise would be, there may be a less
active trading market for its securities and the trading prices of its securities may be more volatile.

Further,
Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting
standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do
not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting
standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements
that apply to non-emerging growth companies but any such an election to opt out is irrevocable. We intend to take advantage of such extended
transition period, which means that when a standard is issued or revised and it has different application dates for public or private
companies, we, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised
standard. This may make comparison of our financial statements with another public company which is neither an emerging growth company
nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential
differences in accounting standards used.

Additionally,
we qualify as a “smaller reporting company” as defined in Item 7A of Regulation S-K promulgated by the SEC. Smaller
reporting companies may take advantage of certain reduced disclosure obligations, including, among other things, providing only two years
of audited financial statements. We will remain a smaller reporting company for so long as the market value of its common stock held
by non-affiliates is less than $250.0 million measured on the last business day of its second fiscal quarter, or its annual revenue is
less than $100.0 million during