Company: RVRC
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001213900-25-013823
Chunk: 57

Company: Revium Rx.
Filing Date: 2025-02-14
Form: S-1
Chunk 57
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 $566 thousand, or 129.8%, compared to $436 thousand for the year ended December 31, 2022.

Financing income, Net

Predecessor’s recognized financing income, net of $15 thousand for the year ended December 31, 2023, representing an increase of $15 thousand, or 100.0%, compared to approximately nil for the year ended December 31, 2022. The increase was primarily attributable to exchange rate differences between the U.S. dollar and the New Israeli Shekel.

Net and Comprehensive Loss

As a result of the foregoing, Predecessor’s loss totaled $987 thousand for the year ended December 31, 2023, representing an increase of $551 thousand, or 126.4%, compared to $436 thousand for the year ended December 31, 2022.

Liquidity

To date, the Company has not generated any revenues
from its current operations, incurred losses, and therefore is dependent upon external sources for financing its operations. As of September
30, 2024, the Company had an accumulated deficit of $10,199 thousands. The Company intends to continue to finance its operating activities
by raising capital. Management believes that it will need to raise additional capital to realize its business plan. Between April and
December 2023, the Company received funds in the aggregate amount of $4,631.25 thousands from qualified investors subscribing into private
placement units of the Company’s securities, where each unit (a “Unit” and collectively the “Units”) is
comprised of (i) two (2) shares of the Company’s common stock and (ii) one common stock purchase warrant to purchase an additional
share of the Company’s Common Stock exercisable December 31, 2026, at a per share exercise price of $2.40. The price per Unit is
$3.20. In consideration thereof, the private placement investors were issued an aggregate of 2,894,532 of the Company’s Common Stock
and warrants to purchase an additional 1,447,266 shares of Common stock.

At present, no warrants have been exercised. Based on our current plans, we believe that with the net proceeds of our private placement offerings, we will have sufficient cash resources to fund our operations and business plan at least through the next twelve months. Our ongoing operations through the conduct of the clinical trial program will continue to consume cash resources without generating revenues. There is no guarantee that will be successful