Company: TELO
Filing Date: 2025-02-04
Form Type: 10-K
Source: 0001493152-25-004872
Chunk: 304

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-02-04
Form: 10-K
Item: Item 1
Chunk 304
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 property development company
owned by the Bay Shore Trust, which is an irrevocable trust established by our founder, Jonnie R. Williams, Sr., and in which Brian McNulty
is the trustee. The Bay Shore Trust is also our largest stockholder. We have an exclusive license from MIRALOGX to develop and commercialize
Telomir-1 in the U.S. for human and non-human applications. Although the interests of MIRALOGX are 100% owned by the Bay Shore Trust,
and Mr. Williams is not an officer or director of MIRALOGX and Mr. Williams does not have voting or dispositive power over the shares
of our company held by Bay Shore Trust, our relationship with the Bay Shore Trust, Mr. Williams may create, or may create the appearance
of, conflicts of interest when we are faced with decisions that could have different implications for MIRALOGX than the decisions have
for us. Furthermore, in light of the license agreement that we have with MIRALOGX, if a dispute were to arise between MIRALOGX and us
relating to our past or future relationship with MIRALOGX or with respect to intellectual property matters, these potential conflicts
of interest may make it more difficult for us to favorably resolve such disputes.

25

Risks
Relating to Our Business and Our Industry

Our
future success will largely depend on the success of Telomir-1 and any future product candidates, which development will require significant
capital resources and years of clinical development effort.

We
currently have no drug products on the market, and all of our drug development projects are in a pre-clinical stage of development. Our
business depends almost entirely on the successful pre-clinical and clinical development, FDA regulatory approval, and commercialization
of our product candidates, principally Telomir-1. Our stockholders need to be aware that substantial additional investments including
pre-clinical and clinical development and FDA regulatory submission and approval efforts will be required before we are permitted to
undertake clinical studies and market and commercialize our product candidates, if ever. It may be several years before we can commence
clinical trials, if ever. Any clinical trial will be subject to extensive and rigorous review and regulation by numerous government authorities
in the United States and other jurisdictions where we intend, if approved, to market our product candidates. Before obtaining regulatory
approvals for any of our product candidates, we