Company: CERO
Filing Date: 2025-08-15
Form Type: NT 10-Q
Source: 0001213900-25-077436
Chunk: 2

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-08-15
Form: NT 10-Q
Chunk 2
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 of 1940 during the preceding 12 months or for 
 such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s). ☒         
 Yes ☐ No                                                                                                                               |

| (3) | Is it anticipated that any significant change in results of                                                                          
 operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the 
 subject report or portion thereof? ☒ Yes ☐                                                                                           
 No                                                                                                                                   |

If so: attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

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The Company estimates that net loss for the quarter ended June 30, 2025
was $18.5 million, compared to $2.4 million for the quarter ended June 30, 2024. This increased net loss in the quarter ended June 30,
2025 as compared to the quarter ended June 30, 2024 is primarily due to (1) the recording of a $2.9 million gain from change in value
of the Company’s earnout liability during the three months ended June 30, 2024 as compared to $0 during the three months ended June
30, 2025, (2) the recording of a gain on settlement of vendor liabilities of $447,000 during the three months ended June 30, 2024 as compared
to $0 during the three months ended June 30, 2025, (3) the recording of a stock-based inducement expense related to the conversion of
Series C preferred shares, and (4) the recording of an unrealized loss on equity securities of $1.1 million. These changes were offset
by (1) a decrease in operating expense of $424,000 during the three months ended June 30, 2025 as compared to the three months ended June
30, 2024, and (2) the recording of other expense of $631,000 during the three months ended June 30, 2024 related to registration rights
penalties recorded compared to $0 during the three months ended June 30, 2025, For the quarter ended June 30, 2025, there was a net loss
attributable to common shareholders of $33.4 million as compared to a net loss attributable