Company: TELO
Filing Date: 2025-02-04
Form Type: 10-K
Source: 0001493152-25-004872
Chunk: 683

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-02-04
Form: 10-K
Item: Item 2
Chunk 683
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4 million in amortization of debt issuance costs and
$6.9 million of stock compensation expense. Accounts payable was composed of research and development payables, and accounting and legal
expenses.

For
the year ended December 31, 2023, operating activities used $3.9 million of cash, primarily due to a net loss of $13.1 million, a $0.10
million net increase in accounts payable, accrued expenses and prepaid expenses, offset by $1.6 million in amortization of debt issuance
costs and $7.5 million of a loss on the conversion of debt to common stock. Accounts payable was composed of research and development
payables, rent and legal expenses.

Net
Cash Provided by Financing Activities

For
the year ended December 31, 2024, financing activities provided $6.3 million of cash, resulting primarily from $6.8 million from the
sale of common stock and offset by $0.5 million in repayments to a related party.

For
the year ended December 31, 2023, financing activities provided $3.9 million of cash, resulting from $1.7 million in net borrowings from
a related party, $1.5 million in net borrowings under a related party line of credit, $1.0 million from the sale of common stock and
offset by a $0.3 million in deferred offering cost and $0.05 million in repayments to a related party.

To
date, we have not generated any revenue from product sales. We do not expect to generate revenue from product sales unless and until
we successfully complete pre-clinical and clinical development of, receive regulatory approval for, and commercialize a program and we
do not know when, or if at all, that will occur. We expect our expenses to increase substantially in connection with our ongoing activities,
particularly as we advance the pre-clinical activities and studies and initiate clinical trials. In addition, if we obtain regulatory
approval for any programs, we expect to incur significant expenses related to product sales, marketing, and distribution to the extent
that such sales, marketing and distribution are not the responsibility of potential collaborators. The timing and amount of our operating
expenditure will depend largely on the factors set out above.

51

Our
funding requirements and timing and amount of our operating expenditure will depend on many factors, including, but not limited to:

    ●
    the
    rate of progress in the