Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 1480

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7A
Chunk 1480
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7,955,338) 
     (7,955,338)

    Balance December 31, 2024 
     —  
    $—  
     2,600  
    $—  
     6,103,813  
    $613  
    $18,760,320  
    $(21,474,987) 
    $(2,714,054)

The
accompanying notes are an integral part of these consolidated financial statements.

F-5 

CHANNEL
THERAPEUTICS CORP

CONSOLIDATED
STATEMENTS OF CASH FLOWS 

FOR
THE YEARS ENDED DECEMBER 31, 2024 AND 2023

    Years Ended December 31, 

    2024  
    2023 

    CASH FLOWS FROM OPERATING ACTIVITIES: 

    Net loss 
    $(7,955,338) 
    $(7,380,793)

    Adjustments to reconcile net loss to net cash used in operating activities 

    Amortization of debt discount 
     692,020  
     188,119 

    Issuance cost from shares issued on extension of investor note 
     —  
     201,600 

    Stock-based compensation 
     1,799,295  
     1,733,233 

    Shares issued for license 
     —  
     2,225,733 

    Gain on default judgement 
     (363,091) 
     — 

    Changes in operating assets and liabilities: 

    Accounts payable and accrued expenses 
     1,178,573  
     1,627,005 

    Accrued compensation 
     (282,856) 
     424,072 

    Due from Chromocell Corporation 
     (45,786) 
     — 

    Prepaid expenses 
     (65,300) 
     — 

    Deferred offering costs 
     (750,000) 
     — 

    Net Cash Used In Operating Activities 
     (5,792,483) 
     (981,031)

    CASH FLOWS FROM FINANCING ACTIVITIES: 

    Proceeds from loan payable, net of debt discount 
     536,184  
     201