Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 1367

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 9C
Chunk 1367
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 statements

F-4

OCEAN
BIOMEDICAL, INC. AND SUBSIDIARIES

CONSOLIDATED
STATEMENTS OF OPERATIONS

(in
thousands, except per share information)

    2024  
    2023 

    Fiscal Years ended December 31, 

    2024  
    2023 
  
    OPERATING EXPENSES: 

    Research and development 
    $26  
    $709 
  
    General and administrative 
     3,772  
     9,505 
  
    Total operating expenses 
     3,798  
     10,214 
  
    OPERATING LOSS 
     (3,798) 
     (10,214)
  
    OTHER INCOME (EXPENSE): 

    Change in fair value of 2023 Convertible Note, SPA Warrant and the Ayrton Note Purchase Option 
     (1,469) 
     1,171 
  
    Loss in connection with the Share Consideration shares 
     -  
     (12,676)
  
    Loss in connection with Backstop Put Option Liability and Fixed Maturity Consideration 
     (1,983) 
     (62,646)
  
    Fair value of warrant issuances 
     -  
     (2,301)
  
    Fair value of non-cash stock issuances 
     -  
     (740)
  
    Transaction costs 
     (356) 
     (8,732)
  
    Loss on extinguishment of debt 
     -  
     (15,080)
  
    Loss on exchange of notes 
     (85) 
     - 
  
    Interest expense, including amortization of debt issuance costs 
     (2,046) 
     (1,762)
  
    Net loss attributable to equity interest in Virion 
     (3,301) 
     (708)
  
    Change in fair value of Virion Contribution Liability 
     3,605  
     (777)
  
    Fair value of stock obligations 
     (47) 
     - 
  
    Other 
     -  
     (1)
  
    Total other income (expense) 
     (5,682) 
     (104,252)
  
    NET LOSS 
    $(9,480)