Company: SERV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001832483-25-000038
Chunk: 16

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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Item 1. Financial Statements

Serve Robotics Inc.

Condensed Consolidated Balance Sheets

(unaudited)

 March 31,2025December 31,2024ASSETSCurrent assets:Cash$197,758,836 $123,266,437 Accounts receivable381,455 86,805 Inventory- 309,711 Prepaid expenses1,112,309 1,396,874 Other receivables717,714 191,643 Total current assets199,970,314 125,251,470 Property and equipment, net14,279,402 11,963,461 Operating lease right-of-use assets1,927,493 1,807,705 Other non-current assets417,407 578,237 Total assets$216,594,616 $139,600,873    LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)  Current liabilities:  Accounts payable$3,654,931 $4,901,665 Accrued liabilities890,294 654,466 Deferred revenue- 20,097 Operating lease liabilities, current712,562 666,136 Financing lease liabilities, current- 564,383 Total current liabilities5,257,787 6,806,747 Operating lease liabilities, non-current1,173,161 1,113,212 Total liabilities6,430,948 7,919,959 Commitments and contingencies (Note 8)Stockholders’ equity (deficit):Preferred stock, $0.0001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of both March 31, 2025 and December 31, 2024- - Common stock, $0.0001 par value; 300,000,000 shares authorized, 56,971,632 and 51,396,574 shares issued and 56,845,515 and 51,288,566 shares outstanding as of March 31, 2025 and December 31, 2024, each respectively.5,682 5,127 Additional paid-in capital330,899,711 239,201,220 Accumulated deficit(120,741,725)(107,525,433)Total stockholders’ equity (deficit)210,163,668 131,680,914 Total