Company: SERV
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001832483-25-000010
Chunk: 135

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-03-06
Form: 10-K
Item: Item 8
Chunk 135
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 issuance costs- - - - - - - - 3,055,555 306 17,115,657 - - 17,115,963 Vested restricted stock units-- -- -- -- 377,28438 (38)- - - Exercise of warrants-- -- -- -- 5,264,799526 22,448,315 - - 22,448,841 Exercise of options-- -- -- -- 511,78751 367,246 - - 367,297 Stock-based compensation- - - - - - - - - - 14,554,926 - - 14,554,926 Net loss-- -- -- -- -- - - (39,191,052)(39,191,052)Balances at December 31, 2024-$- -$- -$- -$- 51,288,566$5,127 $239,201,220 $- $(107,525,433)$131,680,914 

See accompanying notes to these consolidated financial statements.

F-5

Serve Robotics Inc.

Consolidated Statements of Cash Flows

 Year Ended December 31 20242023Cash flows from operating activities:  Net loss$(39,191,052)$(24,813,736)Adjustments to reconcile net loss to net cash used in operating activities:  Depreciation309,712 1,863,924 Stock-based compensation14,554,926 544,375 Amortization of debt discount1,677,942 1,811,798 Change in fair value of derivative liability221,560 149,000 Change in fair value of simple agreements for future equity— 1,672,706 Impairment of long-lived assets— 1,468,995 Interest on recourse loan— (3,897)Changes in operating assets and liabilities:  Accounts receivable(83,850)20,742 Inventory464,638 (156,087)Prepaid expenses(719,905)(595,630)Other receivables(191,643)— Accounts payable872,251 1,888,568 Accrued liabilities477,157 228,020 Deferred revenue