Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q/A
Source: 0001641172-25-024123
Chunk: 53

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q/A
Chunk 53
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 reasons, and resigned as a member of the Board of the Company and from all
committees on which she served, effective immediately. Ms. Charles’s resignation was not due to any disagreement with management
or the Company’s operations, policies or practices.

Partial Conversion of A.G.P. Convertible Note

On April 11, 2025, and April 16, 2025, the holder of the A.G.P. convertible note converted $ 0.5million and $ 0.8million of principal and interest into 430,000and 1,065,395shares of the Company’s common stock, respectively. As of the date of this Quarterly Report on Form 10-Q, approximately $ 4.2million in principal and interest remain outstanding under the A.G.P. Convertible Note.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the financial statements and the related notes included under Part I, Item 1 of this Quarterly Report on Form 10-Q (this “Quarterly Report”) as well as the Company’s audited financial statements and notes thereto included in its Annual Report on Form 10-K for the year ended December 31, 2024 that was filed with the SEC on March 28, 2025. Certain information contained in the discussion and analysis set forth below includes forward-looking statements that involve risks and uncertainties. The following discussion contains forward-looking statements based upon current expectations that involve risks, uncertainties and assumptions. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of various factors, including those set forth under the section titled “Risk Factors” or in other parts of this Quarterly Report. Our historical results are not necessarily indicative of the results that may be expected for any period in the future. All dollar amounts are expressed in thousands of United States dollars (“$”), unless otherwise indicated.

Restatement of Previously Issued Financial Statements

As discussed in the Explanatory Note above, the Company has restated its unaudited consolidated financial statements
for the quarter ended March 31, 2025 As a result, the previously reported financial information for the quarter ended March 31, 2025 in
this Management’s Discussion and Analysis of Financial Condition and Results of Operations has been amended and restated to reflect
the restatement. See Note 2, entitled “Restatement of Previously Iss