Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2867

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 8
Chunk 2867
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 future material weaknesses in our internal
control over financial reporting, or if we identify any additional material weaknesses, the accuracy and timing of our financial reporting
may be adversely affected, we may be unable to maintain compliance with securities law requirements regarding timely filing of periodic
reports in addition to applicable stock exchange listing requirements, investors may lose confidence in our financial reporting, and
our share price may decline as a result.

We
also could become subject to investigations by Nasdaq, the SEC, or other regulatory authorities. Any failure to develop or maintain effective
controls or any difficulties encountered in its implementation or improvement could negatively impact our operating results or cause
us to fail to meet its reporting obligations and may result in a restatement of our financial statements for prior periods, which could
cause the price of our common stock and warrants to decline

Management’s
Annual Report on Internal Control Over Financial Reporting

Our
management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rules
13a-15(f) and 15d-15(f) of the Exchange Act). Internal control over financial reporting is a process designed under the supervision
and with the participation of our management, including the individuals serving as our principal executive officer and principal
financial officer, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with accounting principles generally accepted in the United States of America.
Management conducted an assessment of the effectiveness of our internal control over financial reporting based on the criteria set
forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control-Integrated Framework (2013
Framework). Based on this assessment, our management concluded that, as of December 31, 2024, our internal control over financial
reporting was not effective based on those criteria.

Attestation
Report on Internal Control over Financial Reporting

This
Annual Report on Form 10-K does not include an attestation report of our independent registered public accounting firm due to the deferral
allowed given we are neither an accelerated nor a large accelerated filer.

Changes in Internal Control over Financial
Reporting

There were no changes in our internal control over
financial reporting during our most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect,
our internal control over financial reporting.

ITEM
9B. OTHER INFORMATION.

None.

ITEM
9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS.

Not
applicable