Company: TELO
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023970
Chunk: 62

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 62
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 the note. The Company’s right to borrow funds under the Starwood Note is subject to the absence
of a material adverse change in its assets, operations, or prospects. The Starwood Note, together with accrued interest, is to become
due and payable on the second anniversary of the issuance of the note, provides for prepayment at any time without penalty, and accrues
simple interest at a rate equal 7% per annum. As of June 30, 2025, the Company has not borrowed any amounts under the Starwood Note.

On May 19, 2025, Telomir Pharmaceuticals, Inc. (the “Company”)
entered into an agreement to raise $3 million in equity financing through a direct investment by The Bayshore Trust, an entity affiliated
with the Company’s largest shareholder. The transaction was structured as a straight restricted common stock deal with no warrants.
The Company issued 333,333 restricted shares of its common stock, no par value (the “Common Stock”) at a purchase price of
$3.00 per share, representing an 18% premium to the closing share price of the Common Stock of $2.54 on the date of execution (the “Bayshore
Financing”). The Company received the initial payment of $1 million for the Bayshore Financing on May 20, 2025. In July 2025, an
additional 666,666 common shares were issued for $2 million received.

We
have incurred significant losses and negative cash flows from operations since inception and expect to incur additional losses until
such time that we can generate significant revenue and profit, which we do not expect to occur in the near future. We had negative cash
flow from operations of approximately $1.6 million for the six months ended June 30, 2025. As of June 30, 2025, we had cash and cash
equivalents of approximately $0.8 million and an accumulated deficit of approximately $37.8 million.

We
currently expect that our cash and cash equivalents will only be sufficient to fund our operations, development plans, and capital expenditures
through the third quarter of 2026. As such, there is substantial doubt about the Company’s ability to continue as a going concern.

We
did not have any material non-cancellable contractual obligations as of June 30, 2025.

16

Cash
Flows

The
following table provides information regarding our cash flows for the periods presented:

    Six Months Ended