Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 1758

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 11
Chunk 1758
---
 management, as well as evaluating
the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

/s/ Marcum llp

Marcum llp

We have served as the Company’s auditor from 2022 to 2024.

Costa Mesa, CA

April 1, 2024

F-3

DENALI CAPITAL
ACQUISITION CORP.

CONSOLDATED
BALANCE SHEETS

    December 31,  2024  
    December 31, 2023 
  
    Assets 

    Cash on hand 
    $16,868  
    $204,464 
  
    Prepaid expenses 
     -  
     4,976 
  
    Total current assets 
     16,868  
     209,440 

    Cash and Investments held in trust 
     9,021,005  
     50,477,963 
  
    Total assets 
    $9,037,873  
    $50,687,403 

    Liabilities and Shareholders’ Deficit 

    Accounts Payable and accrued offering costs and expenses 
    $4,640,414  
    $3,749,581 
  
    Accrued interest expense -related party 
     74,555  
     18,021 
  
    Accrued interest expense - others 
     58,586  
     18,878 
  
    Promissory Note - related party 
     1,423,237  
     842,500 
  
    Promissory Note - Others 
     1,350,292  
     975,000 
  
    Total current liabilities 
     7,547,084  
     5,603,980 

    Deferred underwriter compensation 
     2,887,500  
     2,887,500 
  
    Total liabilities 
     10,434,584  
     8,491,480 

    Commitments and contingencies 

    Class A ordinary shares subject to possible redemption 751,837 and 4,537,829 shares at redemption value of $12.00 and $11.12 per share as of December 31, 2024 and 2023, respectively 
     9,021,005  
     50,477,963 

    Shareholders’ Def