Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 64

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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 capital resources sooner
than we currently expect. If, for any reason, our expenses differ materially from our assumptions or we utilize our cash more quickly
than anticipated, or if we are unable to obtain funding on a timely basis we may be required to revise our business plan and strategy,
which may result in significantly curtailing, delaying or discontinuing one or more of our research or development programs or the commercialization
of any product candidates or may result in our being unable to expand our operations or otherwise capitalize on our business opportunities.
As a result, our business, financial condition, and results of operations could be materially affected.

Management
has concluded that there is substantial doubt regarding our ability to continue as a going concern for a period of at least 12 months
from the date of the filing of this Quarterly Report. This is based on our analysis under applicable accounting principles. These financial
statements have been prepared assuming the Company will continue as a going concern and do not include adjustments to reflect the possible
effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the
outcome of this uncertainty.

Cash
Requirements

Our
material cash requirements include the following contractual and other obligations.

A.G.P
Convertible Note

On
November 25, 2024, the Company issued to A.G.P. a convertible promissory note (the “A.G.P. Convertible Note”) in the principal
amount of $5.7 million to evidence A.G.P.’s currently owed deferred commission payable. Unless earlier converted as specified in
the A.G.P. Convertible Note, the principal amount plus all accrued but unpaid interest is due on November 25, 2025 (the “Maturity
Date”). The A.G.P. Convertible Note accrues interest at 5.5% per annum.

At
any time prior to the full payment of the A.G.P. Convertible Note, provided that A.G.P. has given at least three business days written
notice to the Company, A.G.P., in its sole discretion, may elect to have all or any portion of the outstanding principal amount and all
interest accrued converted into shares of the Company’s Common Stock, at the lower of the Reverse Split price and the market price
per share at the time of the conversion date, but in no event less than $1.00, subject to adjustment as provided therein and to take
into account any future share splits or reverse splits. However, the conversion of the A.G