Company: OCEA
Filing Date: 2025-01-13
Form Type: 10-Q
Source: 0001493152-25-001880
Chunk: 164

Company: Ocean Biomedical, Inc.
Filing Date: 2025-01-13
Form: 10-Q
Item: Item 8
Chunk 164
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 the computation of diluted loss per share in the periods presented, as their
effect would be anti-dilutive:

 Schedule of Securities Excluded From Computation of Diluted Loss Per Share 

    2024  
    2023  
    2024  
    2023 

    Three Months Ended September 30,  
    Nine months Ended September 30, 

    2024  
    2023  
    2024  
    2023 
  
    Stock options 
     600,000  
     600,000  
     600,000  
     600,000 
  
    Warrants to purchase common stock 
     13,935,001  
     12,602,195  
     13,935,001  
     12,602,195 
  
    Anti dilutive securities 
     13,935,001  
     12,602,195  
     13,935,001  
     12,602,195 

As
discussed in Note 3, Business Combination and Backstop Agreement, Legacy Ocean is also entitled to receive up to an additional
19,000,000 shares of the Company’s common stock, referred to herein as the Earnout Shares. These Earnout Shares are subject to
certain performance conditions that expire on the 36 month anniversary of Closing. None of these conditions have been met as of September
30, 2024.

12.
License and Manufacturing Agreements

Elkurt/Brown
License Agreements

In
2020, the Company entered into four separate Exclusive License Agreements (the “Initial Brown License Agreements”) with Elkurt,
Inc.(“Elkurt”), a licensee of Brown University, which were subsequently amended in 2021 and 2022. Elkurt is a company formed
by the Company’s scientific co-founders and members of our Board, Jack A. Elias, M.D., former Dean of Medicine and current Special
Advisor for Health Affairs to Brown University, and Jonathan Kurtis, M.D., PhD, Chair of the Department of Pathology and Laboratory Medicine
at Brown University. Under the Initial Brown License Agreements, Elkurt grants the Company exclusive, royalty-bearing licenses to patent
rights and nonexclusive, royalty-bearing licenses to know-how, solely to make, have made, market, offer for sale, use, and sell licensed
products for