Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 546

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 2
Chunk 546
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 the consolidated statements of operations is based on the following:

    For the year ended December 31, 2024  
    For the year ended December 31, 2023 
  
    Net (loss)/income 
    $(167,306) 
    $632,536 
  
    Accretion of temporary equity to redemption value 
     (1,968,370) 
     (5,643,271)
  
    Net loss including accretion of temporary equity 
    $(2,135,676) 
    $(5,010,735)

    For the Year Ended  
    For the Year Ended 

    December 31, 2024  
    December 31, 2023 

    Non-  
       
    Non- 

    Redeemable  
    Redeemable  
    Redeemable  
    Redeemable 

    Common  
    Common  
    Common  
    Common 

    Stock  
    Stock  
    Stock  
    Stock 
  
    Basic and diluted net income (loss) per share: 

    Numerators: 

    Allocation of net loss including accretion of temporary equity 
    $(1,098,113) 
    $(1,037,563) 
    $(3,720,244) 
    $(1,290,491)
  
    Accretion of temporary equity to redemption value 
     1,968,370  
     -  
     5,643,271  
     - 
  
    Allocation of net income/(loss) 
    $870,257  
    $(1,037,563) 
    $1,923,027  
    $(1,290,491)

    Denominators: 

    Weighted-average shares outstanding 
     2,722,627  
     2,572,500  
     7,416,033  
     2,572,500 
  
    Basic and diluted net income/ (loss) per share 
    $0.32  
    $(0.40) 
    $0.26  
    $(0.50)

Income
Taxes

The
Company accounts for income taxes under FASB ASC 740, “Income Taxes” (“ASC 740”). ASC 740 requires the recognition
of deferred tax assets and liabilities for both the expected impact of differences between