Company: REVB
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034584
Chunk: 241

Company: REVELATION BIOSCIENCES, INC.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 241
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 As part of the 2025 Reverse Stock Split on January 28, 2025, the number of shares of common stock the Class G Common Stock Warrants are exercisable into was reset from 381,004 to 1,621,463 and the exercise price of the Class G Common Stock Warrants was reset from $16.00 to $3.7596.The fair value of the Class G Common Stock Warrants were estimated using the Black-Scholes option pricing model with the following assumptions:  

        Volatility

        100
        %

        Expected term (years)

        5

        Risk-free interest rate

        4.38
        %

        Expected dividend yield

        0.0
        %

 F-25

11. Income TaxesThe Company did not record a provision for income taxes for the years ended December 31, 2024 and December 31, 2023 due to a full valuation allowance against its deferred tax assets.The difference between the provision for income taxes and income taxes computed using the effective U.S. federal statutory rate is as follows: 

        Year EndedDecember 31,

        2024

        2023

        Federal tax statutory rate

        21.0
        %

        21.0
        %

        State tax, net of federal benefit

        7.2

        7.2

        Non-taxable change in fair value of warrant liability

        0.2

        1,953.2

        Research and development credits

        0.5

        37.8

        Change in valuation allowance

        (28.9
        )

        (2,019.2
        )

        Effective tax rate
         
        — %

        — %

      Significant components of the Company’s deferred tax assets are as follows:  

        Year EndedDecember 31,

        2024

        2023

        Net operating loss carryforwards
         
        $
        10,949,394

        $
        7,281,811

        Research and development credits

        446,160

        370,145

        Capitalized research and development costs

        2,122,632

        1,716,037

        Capitalized start-up costs

        922,340

        799,367

        Other, net

        478,830

        336,564

        Total