Company: SERV
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001832483-25-000010
Chunk: 139

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-03-06
Form: 10-K
Item: Item 8
Chunk 139
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 material misstatement of the financial statements, whether

due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test

basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the

accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of

the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ dbbmckennon

Newport Beach, California

March 6, 2025

We have served as the Company’s auditor since 2022

F-2

Serve Robotics Inc.

Consolidated Balance Sheets

 Year Ended December 31, 20242023ASSETSCurrent assets:Cash and cash equivalents$123,266,437 $6,756 Accounts receivable86,805 2,955 Inventory309,711 774,349 Prepaid expenses1,396,874 676,969 Other receivables191,643 — Total current assets125,251,470 1,461,029 Property and equipment, net11,963,461 48,422 Operating lease right-of-use assets1,807,705 782,439 Security deposits578,237 512,659 Total assets$139,600,873 $2,804,549    LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)  Current liabilities:  Accounts payable$4,901,665 $2,050,605 Accrued liabilities654,466 255,849 Deferred revenue20,097 — Note payable, current— 1,000,000 Note payable - related party— 70,000 Operating lease liabilities, current666,136 496,963 Financing lease liabilities, current564,383 2,363,807 Total current liabilities6,806,747 6,237,224 Note payable, net of current portion— 230,933 Restricted stock award liability— 158,617 Operating lease liabilities, non-current1,113,212 211,181 Total liabilities7,919,959 6,837,955 Commitments and contingencies (Note 9)Stockholders’ equity (deficit):  Preferred stock, $0.0001 par value, 10,000,000 shares authorized, no shares issued or