Company: LRHC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032211
Chunk: 590

Company: La Rosa Holdings Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1B
Chunk 590
---
 Stock, par value $0.0001, at a
public offering price of $5.00 per share. The Company received net proceeds of $4,360,000 after deducting underwriter discounts, commissions,
and expenses. The Company also incurred other offering expenses of $2,544,459 and issued 1,393,618 common shares to service providers
related to the IPO. These expenses were recorded against the proceeds received from the IPO.

Liquidity – Going Concern and Management’s
Plans

On December 31, 2024, the Company had a cash balance
of $1,442,901 and negative working capital of $4,026,469.

On February 20, 2024, the Company entered into
securities purchase agreements with an accredited investor for the issuance of a 13% senior secured promissory note with a principal amount
of $1,052,632 and a purchase price of $1,000,000 after an original issue discount of $52,632. The note was convertible into shares of
the Company’s Common Stock at the option of the lender.

On April 1, 2024, the Company entered into securities
purchase agreements with the same accredited investor for the issuance of a 13% senior secured promissory note with a principal amount
of $1,316,000 and a purchase price of $1,250,200 after an original issue discount of $65,800.

On July 16, 2024, the Company entered into a third
securities purchase agreements with the same accredited investor for the issuance of a 13% senior secured promissory note with a principal
amount of $468,000 and a purchase price of $444,600 after an original issue discount of $23,400. The note was convertible into shares
of the Company’s Common Stock at the option of the lender. The promissory notes began amortizing five months after the date of each
loan, with full maturity occurring twelve months after the date of each loan.

On September 25, 2024, the Company entered into
an agreement to amend the three Senior Secured Promissory Notes entered into in February, April, and July of 2024. The amendment extended
the maturity date for all three notes to August 1, 2025, and delayed payments until February 1, 2025. See Note 6 — Borrowings and
Note 15 — Subsequent Events for additional information