Company: REVB
Filing Date: 2025-05-20
Form Type: S-1
Source: 0001213900-25-045828
Chunk: 217

Company: REVELATION BIOSCIENCES, INC.
Filing Date: 2025-05-20
Form: S-1
Chunk 217
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 |     | 4.38 | % |
| Expected dividend yield |     |  0.0 | % |

11. Income Taxes

The Company did t record
a provision for income taxes for the years ended December 31, 2024 and December 31, 2023 due to a full valuation allowance
against its deferred tax assets.

The difference between the
provision for income taxes and income taxes computed using the effective U.S. federal statutory rate is as follows:

|                                                       |     | Year Ended   
 December 31, |  2024 |   |     |     |     2023 |   |
|:------------------------------------------------------|:----|:-------------|------:|:--|:----|:----|---------:|:--|
| Federal tax statutory rate                            |     |              |  21.0 | % |     |     |     21.0 | % |
| State tax, net of federal benefit                     |     |              |   7.2 |   |     |     |      7.2 |   |
| Non-taxable change in fair value of warrant liability |     |              |   0.2 |   |     |     |  1,953.2 |   |
| Research and development credits                      |     |              |   0.5 |   |     |     |     37.8 |   |
| Change in valuation allowance                         |     |              | (28.9 | ) |     |     | (2,019.2 | ) |
| Effective tax rate                                    |     |              |     — | % |     |     |        — | % |

Significant components of the
Company’s deferred tax assets are as follows:

|                                            |     | Year Ended   
 December 31, |        2024 |   |     |   |        2023 |   |
|:-------------------------------------------|:----|:-------------|------------:|:--|:----|:--|------------:|:--|
| Net operating loss carryforwards           |     | $            |  10,949,394 |   |     | $ |   7,281,811 |   |
| Research and development credits           |     |              |     446,160 |   |     |   |     370,145 |   |
| Capitalized research and development costs |     |              |   2,122,632