Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 975

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9C
Chunk 975
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 accumulated other comprehensive
income in the accompanying consolidated statements of changes in stockholders’ deficit. Non-monetary items in the subsidiaries’
functional currency are re-measured into the reporting currency at the historical exchange rate (i.e., the rate of exchange at the date
of the transaction).

    F-12

Emerging
Growth Company Status

The
Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under
the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of
the JOBS Act until such time as those standards apply to private companies. The Company has elected to use this extended transition period
for complying with new or revised accounting standards that have different effective dates for public and private companies until the
earlier of the date that: (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended
transition period provided in the JOBS Act. As a result, these financial statements may not be comparable to companies that comply with
the new or revised accounting pronouncements as of public company effective dates.

Following
the Merger, the Company will remain an emerging growth company, as defined by the Jumpstart Our Business Startups act of 2012, until
the earliest of (i) the last day of the combined entity’s first fiscal year following the fifth anniversary of the completion of
MURF’s initial public offering (the “MURF IPO”), (ii) the last day of the fiscal year in which the combined entity
has total annual gross revenue of at least $1.235 billion, (iii) the last day of the fiscal year in which the combined entity is deemed
to be a large accelerated filer, which means the market value of the combined entity’s common stock that is held by non-affiliates
exceeds $700.0 million as of the prior December 31st or (iv) the date on which the combined entity has issued more than $1.0 billion
in non-convertible debt securities during the prior three year period.

Recently
Adopted Accounting Pronouncements

In
November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) (“ASU 2023-07”), which enhances the segment disclosure
requirements for public entities on an annual and interim basis.