Company: OCEA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-011080
Chunk: 52

Company: Ocean Biomedical, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 52
---
  
    Deficit 
  
    Balances at December 31, 2023 
     35,249,046  
    $   -  
    $105,292  
    $(196,055) 
    $    (90,763)
  
    Balances  
     35,249,046  
    $   -  
    $105,292  
    $(196,055) 
    $    (90,763)

    Net loss 
     -  
     -  
        
     12,999  
     12,999 
  
    Stock-based compensation 
     -  
     -  
     186  
        
     186 
  
    Issuance of common stock 
     169,582  
     -  
     1,795  
        
     1,795 
  
    Balances at March 31, 2024 
     35,418,628  
    $-  
    $107,273  
    $(183,056) 
    $(75,783)
  
    Balances  
     35,418,628  
    $-  
    $107,273  
    $(183,056) 
    $(75,783)

See accompanying notes to the unaudited condensed consolidated
financial statements

6

OCEAN BIOMEDICAL, INC.

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

    2025

    2024 

    Three Months Ended March 31, 

    2025  
    2024 
  
    CASH FLOWS FROM OPERATING ACTIVITIES  

    Net (loss) income  
    $(8,240) 
    $12,999 
  
    Adjustments to reconcile net loss to net cash used in operating activities:  

    Non-cash debt issuance costs  
     73  
     - 
  
    Redemption premium on conversion of notes  
     1,736  
     - 
  
    Stock-based compensation  
     186  
     186 
  
    Loss on issuance of shares 
     2,614  
     - 
  
    Change in fair value of stock obligations  
     -  
     150 
  
    Loss in