Company: LRHC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032211
Chunk: 110

Company: La Rosa Holdings Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 110
---
 funds that might not be readily
available or might not be on terms that are acceptable to us, or at all. Until such time that we fully implement our growth
strategy, we expect to continue to generate operating losses in the foreseeable future, mostly due to corporate overhead and costs
of being a public company. As such, we anticipate that our existing working capital, including cash on hand and cash generated from
operations, will not be sufficient to meet projected operating expenses for the foreseeable future through at least twelve months
from the issuance of this Annual Report on Form 10-K. The Company will be required to raise additional capital to service the
remaining note and to fund ongoing operations.

 On
October 10, 2024, the Company received a letter from Nasdaq notifying the Company that it was no longer in compliance with the $1.00
minimum bid price requirement for continued listing on Nasdaq under Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”).
Nasdaq has granted the Company 180 calendar days, or until April 8, 2025, to regain compliance with the Bid Price Rule. On April 9, 2025,
Nasdaq notified the Company that Nasdaq’s Staff has determined that the Company is eligible for an additional 180 calendar day
period, or until October 6, 2025, to regain compliance. If the Company does not regain compliance with the Bid Price Rule by October
6, 2025, or if the Company fails to continue to meet all applicable continued listing requirements for Nasdaq in the future, Nasdaq could
delist our securities. 

On February 4, 2025, the Company and an institutional
investor (the “Investor”) entered into a Securities Purchase Agreement (the “SPA”), pursuant to which the Company
issued to the Investor: (i) a Senior Secured Convertible Note in the original principal amount of $5,500,000 which matures on February
4, 2027 (the “Initial Note”); and (ii) sixteen (16) warrants (“Incremental Warrants”), each to purchase additional
Notes in an original principal amount up to $2,500,000 at an exercise price of $2,256,250, in substantially the same form as the Initial
Note and together with the Initial Note, the “Notes”). The purchase price paid by the Investor under the SPA for the Initial
Note and Incremental Warrants was $