Company: CERO
Filing Date: 2025-07-21
Form Type: S-1
Source: 0001213900-25-066152
Chunk: 310

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-07-21
Form: S-1
Chunk 310
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 | 20,000 |

|                   |     | December 31, 2024 |   |     |         |   |     |         |        |     |       |        |
|:------------------|:----|:------------------|:--|:----|:--------|:--|:----|:--------|-------:|:----|:------|-------:|
|                   |     | Level 1           |   |     | Level 2 |   |     | Level 3 |        |     | Total |        |
| Earnout liability |     | $                 | - |     | $       | - |     | $       | 20,000 |     | $     | 20,000 |

The change in the fair value measurement using
significant inputs (Level 3) is summarized below:

| Preferred stock warrant liability (Predecessor): |     |   |            |   |
|:-------------------------------------------------|:----|:--|-----------:|:--|
| Balance at December 31, 2023                     |     | $ |    320,117 |   |
| Gain on revaluation of warrant liability         |     |   |   (320,117 | ) |
| Balance at February 14, 2024                     |     | $ |          - |   |
| Earnout liability (Successor):                   |     |   |            |   |
| Balance at February 14, 2024                     |     | $ |  4,900,000 |   |
| Gain on revaluation of earnout liability         |     |   | (1,800,000 | ) |
| Balance at March 31, 2024                        |     | $ |  3,100,000 |   |

| Earnout liability (Successor):           |     |   |        |
|:-----------------------------------------|:----|:--|-------:|
| Balance at December 31, 2024             |     | $ | 20,000 |
| Gain on revaluation of earnout liability |     |   |      - |
| Balance at March 31, 2025                |     | $ | 20,000 |

F-9

Research and development – R&D
costs consist primarily of salaries and benefits, including stock-based compensation, occupancy, materials and supplies, contracted research,
consulting arrangements, and other expenses incurred in the pursuit of the Company’s R&D programs