Company: CERO
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001213900-25-011071
Chunk: 371

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-07
Form: 424B3
Chunk 371
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 and planned regulatory filings with the Food and
Drug Administration (“FDA”). If the Company is unable to obtain necessary funds, significant reductions in spending and the
delay or cancellation of planned activities may be necessary. These actions would have a material adverse effect on the Company’s
business, results of operations, and prospects. These conditions raise substantial doubt about the Company’s ability to continue
as a going concern within one year from the date these financial statements are issued. The accompanying financial statements do not
include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification
of liabilities that might result from the outcome of this uncertainty.

<div align='center'>F-35

PHOENIX BIOTECH ACQUISITION CORP.

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2023</div>

Note 2 — Summary of Significant Accounting Policies

Basis of Presentation

The accompanying financial statements are presented
in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the
rules and regulations of the SEC.

Reclassifications

Certain prior year amounts have been reclassified
due to an immaterial correction of an error and for consistency with the current period presentation. These reclassifications had no
effect on the reported results of operations. An adjustment for $244,777 has been made to Class A common stock subject to possible
redemption and Accumulated deficit as of December 31, 2022 to correct the total amount redeemable to stockholders.

In the Form 10-Q for three months ended March 31,
2023, the Company discovered an error in the Statement of Cash Flows for the presentation of restricted cash. The error was not corrected
and persisted in the statements of cash flows in the quarterly reports on 10-Q for the three months ended June 30, 2023 and September
30, 2023. These errors had no impact on the balance sheets or the statements of operations in those periods. This error is corrected
in the statement of cash flows in the Company’s December 31, 2023 audited financial statements.

Emerging Growth Company

The Company is an “emerging growth company,”
as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”),
and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies