Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2553

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1
Chunk 2553
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 laws or regulatory requirements subjects firms to possible legal or regulatory action. Depending
on the circumstances, failure to meet applicable regulatory requirements can result in significant penalties, including criminal prosecution,
fines, injunctions, exclusion from federal healthcare programs, requests for recall, seizure of products, total or partial suspension
of production, denial or withdrawal of product approvals, or refusal to allow a firm to enter into supply contracts, including government
contracts. Any action against us for violation of these laws, even if we successfully defend against it, could cause us to incur significant
legal expenses and divert our management’s attention from the operation of our business. Prohibitions or restrictions on sales
or withdrawal of future products marketed by us could materially affect our business in an adverse way.

Changes
in regulations, statutes or the interpretation of existing regulations could impact our business in the future by requiring, for example:
(i) changes to our manufacturing and distribution arrangements; (ii) additions or modifications to product labeling; (iii) the recall
or discontinuation of our products; or (iv) additional record-keeping requirements. If any such changes were to be imposed, they could
adversely affect the operation of our business.

Other
United States Environmental, Health and Safety Laws and Regulations

We
may be subject to numerous environmental, health and safety laws and regulations, including those governing laboratory procedures and
the handling, use, storage, treatment and disposal of hazardous materials and wastes. From time to time and in the future, our operations
may involve the use of hazardous and flammable materials, including chemicals and biological materials, and may also produce hazardous
waste products. Even if we contract with third parties for the disposal of these materials and waste products, we cannot completely eliminate
the risk of contamination or injury resulting from these materials. In the event of contamination or injury resulting from the use or
disposal of our hazardous materials, we could be held liable for any resulting damages, and any liability could exceed our resources.
We also could incur significant costs associated with civil or criminal fines and penalties for failure to comply with such laws and
regulations.

We
maintain workers’ compensation insurance to cover us for costs and expenses we may incur due to injuries to our employees, but
this insurance may not provide adequate coverage against potential liabilities. However, we do not maintain insurance for environmental
liability or toxic tort claims that may be asserted against us.

60

In
addition, we may incur substantial costs in order to comply with current or future