Company: CERO
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112619
Chunk: 529

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part II, Item 1A
Chunk 529
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Item 1a. Risk Factors

Except as set forth below,
there have been no material changes to the risk factors disclosed in our Annual Report on Form 10-K for the year ended December 31, 2024,
filed with the SEC on April 15, 2025. Any of these factors could result in a significant or material adverse effect on our results of
operations or financial condition. Additional risk factors not presently known to us or that we currently deem immaterial may also impair
our business or results of operations.

Nasdaq has delisted our securities from
trading on Nasdaq, which could limit investors’ ability to make transactions in our securities and subject us to additional trading
restrictions.

On October 29, 2025, we received the determination
of the Nasdaq Hearings Panel (the “Panel”) to deny our request to continue the listing of our shares of common stock on Nasdaq
and that the trading in our securities would be suspended at the open of trading on October 31, 2025. We submitted a request for review
of the Panel’s decision by the Nasdaq Listing and Hearing Review Council. On October 31, 2025, we have since commenced trading
of our common stock on the OTC Pink Sheets.

As previously disclosed, we have not been in
compliance with the requirement set forth in Nasdaq Listing Rule 5550(b)(1) to maintain stockholders’ equity of at least $2.5 million
(the “Equity Rule”). In January 2025, a previous Nasdaq panel provided us with an extension until April 22, 2025 to obtain
compliance with the Equity Rule. On April 21, 2025, we announced that, following the completion of a financing round including the issuance
of shares of Series D Preferred Stock in exchange for marketable securities (the “Marketable Securities”) of another public
company convertible under its terms into shares of common stock of such other public company with an aggregate value of $5 million, as
well as the application of the proceeds of our February 2025 public offering of shares of common stock and warrants and the proceeds
of sales under its equity line of credit, as well as successful negotiations with service providers to reduce outstanding balances payable,
we believed that we had regained compliance with the Equity Rule, subject to Nasdaq’s determination, as well as the completion
of valuation procedures. In August 2025, in connection with the finalization of