Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 831

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 831
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 in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits
we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion
on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our
audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error
or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding
the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant
estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits
provide a reasonable basis for our opinion.

/s/
Marcum LLP

Marcum
LLP

We
have served as the Company’s auditor since 2022.

Morristown, NJ

March 28, 2025

F-2

CONDUIT
PHARMACEUTICALS INC.

CONSOLIDATED
BALANCE SHEETS 

(in
thousands, except share amounts)

    December 31,
2024  
    December 31,
2023 
  
    ASSETS 

    Current assets 

    Cash and cash equivalents 
    $554  
    $4,228 
  
    Prepaid expenses 
     2,161  
     1,505 
  
    Total current assets 
     2,715  
     5,733 
  
    Operating lease right-of-use assets. net 
     263  
     - 
  
    Property, plant and equipment, net 
     40  
     - 
  
    Prepaid expenses and other long-term assets 
     1,175  
     1,491 
  
    Total assets 
    $4,193  
    $7,224 
  
    LIABILITIES AND STOCKHOLDERS’ DEFICIT 

    Current liabilities 

    Accounts payable 
    $1,428  
    $215 
  
    Accrued expenses and other current liabilities 
     1,