Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 961

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 6
Chunk 961
---
 1,795 
  
    Shares issued to vendors 
     50,000  
     -  
     87  
     -  
     87 
  
    Balances at December 31, 2024 
     35,468,628  
    $-  
    $107,919  
    $(205,535) 
    $(97,616)

    Balances 
     35,468,628  
    $-  
    $107,919  
    $(205,535) 
    $(97,616)

See
accompanying notes to the consolidated financial statements

F-6

OCEAN
BIOMEDICAL, INC. AND SUBSIDIARIES

CONSOLIDATED
STATEMENTS OF CASH FLOWS

(in
thousands)

    2024  
    2023 

    Fiscal Years ended December 31, 

    2024  
    2023 
  
    CASH FLOWS FROM OPERATING ACTIVITIES 

    Net loss 
    $(9,480) 
    $(114,466)
  
    Adjustments to reconcile net loss to net cash used in operating activities: 

    Non-cash interest expense 
     -  
     762 
  
    Non-cash debt issuance costs 
     279  
     627 
  
    Non-cash stock issuances 
     -  
     667 
  
    Stock-based compensation 
     745  
     1,205 
  
    Loss on issuance of warrants 
     -  
     2,301 
  
    Loss on extinguishment of debt 
     -  
     15,080 
  
    Loss on exchange of notes 
     85  
     - 
  
    Loss in connection with Share Consideration shares 
     -  
     12,676 
  
    Loss in connection with Backstop Put Option Liability and Fixed Maturity Consideration 
     1,983  
     62,646 
  
    Net loss attributable to equity interest in Virion 
     3,301  
     708 
  
    Change in fair value of Virion Contribution Liability 
     (3,605) 
     777 
  
    Change in fair value of 2023 Convertible Note, SPA Warrant and the Ayrton Note Purchase Option 
     1