Company: TELO
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010298
Chunk: 67

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 67
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 that are issued, but not effective, and it does not believe that they will
have a significant impact on the Company’s results of operations or financial position.

Note
2. Going concern 

The
accompanying financial statements have been prepared assuming the Company will continue as a going concern which contemplates the realization
of assets and settlement of liabilities and commitments in the normal course of business.

As
of March 31, 2025, the Company had cash of approximately $0.4
million. The Company has used approximately $0.9
million of cash in operations during the three
months ended March 31, 2025, had a net loss of $2.2
million in the three months ended March 31, 2025
and had stockholders’ deficit and a working capital deficit of approximately $0.2
million, versus stockholders’ equity of
approximately $0.6 million
at December 31, 2024.

Historically,
the Company has been primarily engaged in developing Telomir-1. During these activities, the Company sustained substantial losses. The
Company’s ability to fund ongoing operations and future clinical trials required for FDA approval is dependent on the Company’s
ability to obtain significant additional external funding in the near term. Since inception, the Company has financed its operations
through its initial public offering in February 2024, and related party financings-see Note 4. Additional sources of financing will be
required by the Company to continue operations and its Telomir-1 programs. However, there can be no assurance that any fundraising will
be achieved on commercially reasonable terms, if at all.

As
of the date of filing this report, the Company will continue to generate losses and have insufficient cash and cash equivalents on hand
to support its operations for at least the 12 months following the date the financial statements are issued. These factors raise substantial
doubt about the Company’s ability to continue as a going concern for a period of twelve months from the issuance date of this report.
Management cannot provide assurance that the Company will ultimately achieve profitable operations or become cash flow positive or raise
additional debt and/or equity capital. The Company is seeking to raise capital through additional debt and/or equity financings to fund
our operations in the future. If the Company is unable to raise additional capital or secure additional lending in the near future, management
expects that the Company will need to curtail its operations. These financial statements do not include any adjustments related