Company: CERO
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032134
Chunk: 2549

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 2549
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3 (Predecessor)   F-5  Consolidated Statements of Cash Flows for the periods from January 1, 2024 to February 13, 2024 (Predecessor) and February 14, 2024 to December 31, 2024 (Successor) and for the year ended December 31, 2023 (Predecessor)   F-6  Notes to Consolidated Financial Statements   F-7 to F-33 

F-1

Report of Independent Registered Public Accounting
Firm

To the Stockholders and the Board of Directors of CERo Therapeutics
Holdings, Inc.:

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheets of CERo
Therapeutics Holdings, Inc. (the Company) as of December 31, 2024  (Successor) and December 31, 2023 (Predecessor), the related statements
of operations, convertible preferred stock and stockholders’ deficit, and cash flows for the periods from January 1, 2024 through
February 13, 2024 (Predecessor), and February 14, 2024 through December 31, 2024 (Successor) and for the year ended December 31, 2023
(Predecessor), and the related notes to the consolidated financial statements (collectively, the financial statements). In our opinion,
the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 (Successor)
and December 31, 2023 (Predecessor), and the results of its operations and its cash flows for the periods from January 1, 2024 through
February 13, 2024 (Predecessor), and February 14, 2024 through December 31, 2024 (Successor) and for the year ended December 31, 2023
(Predecessor), in conformity with accounting principles generally accepted in the United States of America.

Emphasis of a Matter Regarding Going Concern

The accompanying financial statements have been prepared assuming that
the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company has incurred net losses
since its inception, has negative cash flows from operations and will need additional funding to complete planned development efforts.
This raises substantial doubt about the Company’s ability to continue as a going concern. Management