Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 403

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 3
Chunk 403
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 after this
offering if either (i) the market value of our stock held by non-affiliates is less than $250 million or (ii) our annual revenue was
less than $100 million during the most recently completed fiscal year and the market value of our stock held by non-affiliates is less
than $700 million. If we are a smaller reporting company at the time that we cease to be an emerging growth company, we may continue
to rely on exemptions from certain disclosure requirements that are available to smaller reporting companies. Specifically, as a smaller
reporting company, we may choose to present only the two most recent fiscal years of audited financial statements in our Annual Report
on Form 10-K and, similar to emerging growth companies, smaller reporting companies have reduced disclosure obligations regarding executive
compensation.

159

ITEM 8. FINANCIAL STATEMENTS AND
SUPPLEMENTARY DATA

This information appears following
Item 16 of this Annual Report on Form 10-K and is incorporated herein by reference.

ITEM
9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

On
December 17, 2024, the Audit Committee approved the engagement of Berkowitz Pollack Brant (“BPB”) as the Company’s
independent registered public accounting firm for the fiscal year ending December 31, 2024. During the Company’s two most recent
fiscal years ended December 31, 2023 and 2022, and during the interim period through December 17, 2024, neither the Company nor anyone
acting on its behalf consulted with BPB regarding any of the matters described in Items 304(a)(2)(i) and (ii) of Regulation S-K. The
Company dismissed Deloitte & Touche LLP (the “Former Accounting Firm”) as its independent registered public accounting
firm, effective as of December 2, 2024. As described in Item 4.01(a) below, the change in independent registered public accounting firm
is not the result of any disagreement with the Former Accounting Firm.

ITEM
                                            9.A. INTERNAL CONTROL OVER FINANCIAL REPORTING

Evaluation of Disclosure Controls and Procedures

As of the end of the period covered by this annual
report, we evaluated, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief
Financial Officer, the effectiveness of our disclosure controls and procedures (as such term