Company: CERO
Filing Date: 2025-11-20
Form Type: 424B3
Source: 0001213900-25-113118
Chunk: 104

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-11-20
Form: 424B3
Chunk 104
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829 |   |     |                |  12,240,682 |   |     |            | (1,771,853 | ) |
| Net (decrease) increase in cash, restricted cash and cash equivalents |     | $                         |  (1,304,988 | ) |     | $              |     864,809 |   |     | $          | (2,169,797 | ) |

Net cash used in operating activities

Net cash used in operating activities for the nine months ended September
30, 2025 primarily reflected a net loss of $15,380,000, adjusted for the reconciliation of non-cash items such as depreciation expense
of $215,000, stock-based compensation of $836,000, stock-based inducement expense of $864,000, write off of deferred offering costs of
$500,000, and amortization of right-of-use asset of $595,000, and changes in operating asset and liabilities primarily consisting of an
increase in prepaid expenses and other current assets of $257,000, an increase in accounts payable of $1,426,000, a decrease in accrued
liabilities of $429,000, and a decrease in operating lease liabilities of $644,000.

Net cash used in operating
activities for the nine months ended September 30, 2024 primarily reflected a net loss of $8,976,000, adjusted for the reconciliation
of non-cash items such as a gain of settlement of liabilities with vendors of $589,000, depreciation expense of $342,000, stock-based
compensation of $1,904,000, amortization of right-of-use asset of $537,000 and a gain on revaluation of earnout liability and the preferred
stock warrant liability of $5,190,000, and changes in operating asset and liabilities primarily consisting of a decrease in accounts
payable of $232,000, an increase in accrued liabilities of $1,476,000, and a decrease in operating lease liabilities of $642,000.

Net cash provided by investing activities

Net cash provided by investing
activities for the nine months ended September 30, 2025 amounted to $500,000 as compared to $0 for the nine months ended September 30,
2024. During the nine months ended September 30, 2025, we received $500,000 from the sale of equity securities.

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Net cash provided