Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 442

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 3
Chunk 442
---
, $0.0001
par value; 300,000,000 shares authorized
as of December 31, 2024 and 2023, respectively, 34,868,628
and 34,649,046 shares issued and outstanding
as of December 31, 2024 and 2023, respectively. 
     -  
     - 
  
    Additional paid-in capital 
     107,919  
     105,292 
  
    Accumulated deficit 
     (205,535) 
     (196,055)
  
    Total stockholders’ deficit 
     (97,616) 
     (90,763)
  
    TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 
    $902  
    $5,501 

See
accompanying notes to the consolidated financial statements

F-4

OCEAN
BIOMEDICAL, INC. AND SUBSIDIARIES

CONSOLIDATED
STATEMENTS OF OPERATIONS

(in
thousands, except per share information)

    2024  
    2023 

    Fiscal Years ended December 31, 

    2024  
    2023 
  
    OPERATING EXPENSES: 

    Research and development 
    $26  
    $709 
  
    General and administrative 
     3,772  
     9,505 
  
    Total operating expenses 
     3,798  
     10,214 
  
    OPERATING LOSS 
     (3,798) 
     (10,214)
  
    OTHER INCOME (EXPENSE): 

    Change in fair value of 2023 Convertible Note, SPA Warrant and the Ayrton Note Purchase Option 
     (1,469) 
     1,171 
  
    Loss in connection with the Share Consideration shares 
     -  
     (12,676)
  
    Loss in connection with Backstop Put Option Liability and Fixed Maturity Consideration 
     (1,983) 
     (62,646)
  
    Fair value of warrant issuances 
     -  
     (2,301)
  
    Fair value of non-cash stock issuances 
     -  
     (740)
  
    Transaction costs 
     (356) 
     (8,732)