Company: CDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010405
Chunk: 120

Company: CDT Equity Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 120
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.5 million in other income (expense) for the three months ended March 31, 2024 was primarily related to a $0.5
million loss on the issuance of warrants.

For
further details refer to Note 13, “Other income (expense), net,” in the unaudited financial statements as of March 31, 2025
and March 31, 2024 included elsewhere in this Quarterly Report.

Interest
Expense, Net

    Three Months ended March 31,  
    Change 
  
    (Dollar amounts in thousands) 
    2025  
    2024  
    Amount  
    % 
  
    Interest expense, net 
    $(176) 
    $(119) 
    $(57) 
     48%

Interest
expense was $0.2 million for the three months ended March 31, 2025 compared
to $0.1 million for the three months ended March 31, 2024. The change was driven by $77,000 of interest expense on the A.G.P. Convertible
Note, $24,000 of interest expense on the August 2024 Nirland Note, $8,000 of interest expense on the October 2025 Nirland Note, and $65,000
of debt issuance cost amortization related to the Convertible Promissory Note Payable, partially offset by a $79,000 decrease of interest
expense related to the Deferred Commission Payable balance and a $40,000 of decrease of interest expense on the Convertible Promissory
Note Payable.

Liquidity
and Capital Resources

Management
assesses liquidity in terms of our ability to generate cash to fund operating, investing and financing activities. Since our inception,
and in line with our growth strategy, we have prepared our financial statements assuming we will continue as a going concern. Since our
inception, we have incurred net losses and experienced negative cash flows from operations. To date, our primary sources of capital have
been through private placements of equity securities and convertible debt and the Sales Agreement with A.G.P. During the three months
ended March 31, 2025 and 2024, we incurred operating losses of $5.1 million and $3.6 million, respectively.

Sources
and Uses of Liquidity

Our
primary uses of cash are to fund our operations as we continue to grow our business. We will require a significant amount of cash for
expend