Company: CDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010405
Chunk: 102

Company: CDT Equity Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 102
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 Share Attributable to Common Stockholders

Potentially
dilutive securities (upon conversion) that were not included in the diluted per share calculations because they would have been anti-dilutive
were as follows:

Schedule
of Potentially Dilutive Securities

    As of March 31,  
    As of March 31, 

    2025  
    2024 
  
    Public warrants 
     139,790  
     139,790 
  
    PIPE Warrants 
     -  
     200,000 
  
    A.G.P. Warrants 
     540  
     540 
  
    Convertible Promissory Notes Payable 
     -  
     805 
  
    Stock Options 
     65,090  
     10,717 
  
    Restricted stock Units 
     -  
     1,470 
  
    A.G.P. Convertible Note 
     1,816,695  
     - 
  
    March 2024 Warrants 
     2,600  
     2,600 
  
    April 2024 Warrants 
     14,477  
     - 
  
    A.G.P. 2024 Warrants 
     28,626  
     - 
  
    Antidilutive Securities 
     2,067,818  
     355,922 

    22

12.
Related Party Transactions

Corvus
Capital Limited

Corvus
Capital Limited (“Corvus”) is a significant investor in the Company through subscribing to 1,000
common shares prior to the closing of the Merger on September 22, 2023. Shares held by Corvus on the closing date of the Merger were
exchanged for shares of the Company’s Common Stock. The Chief Executive Officer and principal owner of Corvus, Dr. Andrew Regan,
is a member of Conduit’s board of directors and was appointed as the Chief Executive Officer of the Company on April 15, 2025.
Dr. Regan has not entered into any compensation plans and will continue to waive all compensation fees in connection with his service
as Chief Executive Officer of the Company, and is entitled to reimbursement of expenses incurred in connection with his role as Chief
Executive Officer.

For
the three months ended March 31, 2025 and 2024, the Company incurred