Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 182

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1A
Chunk 182
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843,271)
  
    Changes in current assets and liabilities: 

    Prepaid Expenses 
     4,976  
     83,113 
  
    Accounts payable and accrued expenses 
     890,833  
     2,457,940 
  
    Accrued interest expense -related party 
     56,534  
     18,021 
  
    Accrued interest expense - others 
     39,709  
     18,878 
  
    Net cash used in operating activities 
     (753,296) 
     (632,783)

    Cash Flows from Investing Activities: 

    Investment held in Trust Account 
     -  
     (825,000)
  
    Cash withdrawn from Trust Account in connection with redemption 
     43,425,328  
     40,536,908 
  
    Net cash provided by investing activities 
     43,425,328  
     39,711,908 

    Cash flows from financing activities: 

    Proceeds from issuance of promissory note to related party 
     565,700  
     842,500 
  
    Redemption of ordinary shares 
     (43,425,328) 
     (40,536,908)
  
    Net cash used in financing activities 
     (42,859,628) 
     (39,694,408)

    Net change in cash 
     (187,596) 
     (615,283)

    Cash, beginning of the year 
     204,464  
     819,747 
  
    Cash, end of the year 
    $16,868  
    $204,464 

    Supplemental disclosure of noncash investing and financing activities 

    Increase in investment held in Trust Account through issuance of promissory note 
    $390,329  
    $975,000 
  
    Remeasurement adjustment on class A ordinary shares subject to possible redemption 
    $1,968,370  
    $5,643,271 

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

F-7

Denali
Capital Acquisition Corp.

Notes
to Consolidated Financial Statements

NOTE
1 – ORGANIZATION AND BUSINESS OPERATION

Denali
Capital Acquisition Corp. (the “Company” or “Denali”) is a newly organized blank check