Company: TELO
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010298
Chunk: 9

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 8
Chunk 9
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1)The warrants herein
                                                                                                                                                               consist of various contractual terms. The warrants herein consist of 2,429,025 warrants issued to Bay Shore Trust that have a
                                                                                                                                                               remaining contractual term of 4.5 years as of December 31, 2023, and 335,032 warrants issued to investors associated with the 2023
                                                                                                                                                               Private Placement that currently have an indeterminable contractual term. See disclosures below for more information on these
                                                                                                                                                               warrants.

(2)The warrants herein
                                                                                                                                                                consist of various contractual terms. The warrants herein consist of 2,429,025 warrants issued to Bay Shore Trust that have a
                                                                                                                                                                remaining contractual term of 3.2 years as of March 31, 2025, 335,032 warrants issued to investors associated with the 2023 Private
                                                                                                                                                                Placement that currently have an indeterminable contractual term, and 50,000 warrants issued to underwriters as part of the IPO with
                                                                                                                                                                a remaining contractual life of 2.9 years. See disclosures below for more information on these warrants.

    11

TELOMIR
PHARMACEUTICALS, INC.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

FOR
THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024

(Unaudited)

Underwriter
warrants

In
connection with the IPO in February 2024, the Company issued 50,000 warrants to purchase common stock to the IPO underwriter (or its
designees) at an exercise price of $7.00 are exercisable immediately and will expire in the four-and-a-half-year period commencing six
months after the IPO. The warrants will be exercisable at any time and from time to time, in whole or in part. The warrants provide for
registration rights (including a one-time demand registration right and piggyback registration rights that expire 5 years from the commencement
of sales of the offering) and customary anti-dilution provisions as permitted under FINRA Rule 5110(g)(8).

2023
Omnibus Incentive Plan

In
December 2023, the Company’s Board of Directors adopted the Company’s 2023 Omnibus Incentive Plan, (“2023 Omnibus Plan”).
The 2023 Omnibus Plan authorizes the grant of incentive stock options, within the meaning of Section 422 of the Internal Revenue Code,
to