Company: CERO
Filing Date: 2025-11-20
Form Type: 424B3
Source: 0001213900-25-113117
Chunk: 118

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-11-20
Form: 424B3
Chunk 118
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of our product candidates. These risks also extend to indirect effects, such as retaliatory tariffs imposed by other countries or additional
non-tariff trade barriers. As a result, our research and development activities, manufacturing timelines, and overall financial condition
could be materially adversely affected.

Changes in tax laws or regulations that are applied adversely to us or our customers may have a material adverse effect on our business, cash flow, financial condition or results of operations.

New income, sales, use or
other tax laws, statutes, rules, regulations or ordinances could be enacted at any time, which could adversely affect our business operations
and financial performance. Further, existing tax laws, statutes, rules, regulations or ordinances could be interpreted, changed, modified
or applied adversely to us. For example, the OBBBA was signed into law on July 4, 2025 and made significant changes to U.S. federal tax
law. Under Section 174 of the Code, in taxable years beginning after December 31, 2021, expenses that are incurred for research and development
performed outside the U.S. will be capitalized and amortized, which may have an adverse effect on our cash flow. The OBBBA provides that
for taxable years beginning after December 31, 2024, expenses that are incurred for research and development performed in the United
States may, at the taxpayer’s election, be immediately deducted or capitalized and amortized. In addition, the OBBBA provides that
for taxable years beginning after December 31, 2021 and before January 1, 2025, certain eligible taxpayers generally may elect to retroactively
deduct expenses for research and development performed in the U.S. in such taxable years by filing amended tax returns for such taxable
years, and all other taxpayers that are not eligible to make such an election and that amortized expenses for research and development
performed in the U.S. in such taxable years generally may elect to accelerate and deduct the remaining unamortized amounts of such research
and development expenses (i) in the first taxable year beginning after December 31, 2024, or (ii) ratably over the two-taxable year period
beginning with the first taxable year beginning after December 31, 2024. In addition, it is uncertain if and to what extent various states
will conform to federal tax laws. Future tax reform legislation could have a material impact on the value of our deferred tax assets,
could result in significant