Company: HCWB
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0000950170-25-046724
Chunk: 278

Company: HCW Biologics Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 278
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 made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provide a reasonable basis for our opinion.

/s/ Crowe LLP

We have served as the Company's auditor since September 2024.

Indianapolis, Indiana

March 28, 2025

98

HCW Biologics Inc. 

Balance Sheets 

    December 31,

    December 31,

    2023

    2024

    ASSETS

    Current assets:

    Cash and cash equivalents
     
    $
    3,595,101

    $
    4,674,572

    Accounts receivable, net

    1,535,757

    582,201

    Prepaid expenses

    1,042,413

    328,181

    Other current assets

    230,916

    113,528

    Total current assets

    6,404,187

    5,698,482

    Investments

    1,599,751

    1,599,751

    Property, plant and equipment, net

    20,453,184

    22,909,869

    Other assets

    56,538

    28,476

    Total assets
     
    $
    28,513,660

    $
    30,236,578

    LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

    Liabilities

    Current liabilities:

    Accounts payable
     
    $
    6,167,223

    $
    22,332,261

    Accrued liabilities and other current liabilities

    2,580,402

    981,940

    Short-term debt, net

    —

    6,314,684

    Total current liabilities

    8,747,625

    29,628,885

    Debt, net

    6,304,318

    7,377,865

    Total liabilities

    15,051,943

    37,006,750

    Commitments and contingencies (Note 17)

    Stockholders’ equity (deficit):

    Common stock:

    Common, $0.0001 par value; 250,000,000 shares authorized   and 36,025,104 shares issued at December 31,