Company: OCEA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-011080
Chunk: 25

Company: Ocean Biomedical, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 3
Chunk 25
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 weaknesses in our internal control over financial
reporting, or if we identify any additional material weaknesses, the accuracy and timing of our financial reporting may be adversely affected,
we may be unable to maintain compliance with securities law requirements regarding timely filing of periodic reports in addition to applicable
stock exchange listing requirements, investors may lose confidence in our financial reporting, and our share price may decline as a result.

We also could become subject
to investigations by Nasdaq, the SEC, or other regulatory authorities. Any failure to develop or maintain effective controls or any difficulties
encountered in its implementation or improvement could negatively impact our operating results or cause us to fail to meet its reporting
obligations and may result in a restatement of our financial statements for prior periods, which could cause the price of our common stock
and warrants to decline.

Changes in Internal Control
over Financial Reporting

There were no changes in our
internal control over financial reporting during the three months ended March 31, 2025, that materially affected, or are reasonably likely
to materially affect, our internal control over financial reporting.

48

PART II-OTHER INFORMATION

Item 1. Legal Proceedings

From time to time, we may become
involved in legal proceedings arising in the ordinary course of our business. As of the date of this Quarterly Report on Form 10-Q, we
were not a party to any material legal matters or claims except as set forth in our audited financial statements for the year ended December
31, 2024, in our Annual Report on Form 10-K for the year ended December, 31, 2024.

In the future, we may become party
to legal matters and claims in the ordinary course of business, the resolution of which we do not anticipate would have a material adverse
impact on our financial position, results of operations or cash flows except as set forth in our audited financial statements for the
year ended December 31, 2024, in our Annual Report on Form 10-K for the year ended December, 31, 2024.

Item 1A. Risk Factors

In addition to those the risk
factors set forth in Part I “Item 1A: Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024,
and other reports we filed with the SEC, below are certain risk factors related to the Company and its operations.

Our level of indebtedness
and significant debt service obligations could adversely affect our