Company: SMNR
Filing Date: 2025-05-16
Form Type: 10-Q
Source: 0001213900-25-044889
Chunk: 3

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-05-16
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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264,330 
  
    Subsequent measurement of ordinary shares subject to possible redemption (interest earned on trust account and extension deposit) 
     -  
     -  
     -  
     -  
     (803,885) 
     (803,885)
  
    Balance as of March 31, 2024 (Unaudited) 
     510,000  
    $51  
    $2,062,500  
    $206  
    $(8,821,852) 
    $(8,821,595)

The accompanying notes are an integral part of
these unaudited condensed consolidated financial statements.

3

DENALI CAPITAL ACQUISITION CORP.

CONDENSED CONSOLIDATED STATEMENTS
OF CASH FLOWS

(Unaudited)

    For the Three Months  
    For the Three Months 

    Year Ended  
    Year Ended 

    March 31, 2025  
    March 31, 2024 
  
    Cash flows from operating activities: 

    Net income/loss 
    $(194,603) 
    $264,330 
  
    Formation costs paid by related party 
     -  
     - 
  
    Adjustments to reconcile net loss to net cash used in operating activities: 

    Income from Trust 
     (78,971) 
     (653,885)
  
    Changes in current assets and liabilities: 

    Prepaid Expenses 
     -  
     (59,423)
  
    Accounts payable and accrued expenses 
     132,468  
     53,524 
  
    Accrued interest expense -related party 
     17,209  
     11,430 
  
    Accrued interest expense - others 
     9,766  
     9,873 
  
    Net cash used in operating activities 
     (114,131) 
     (374,151)

    Cash flows from financing activities: 

    Proceeds from issuance of promissory note to related party 
     100,000  
     170,700 
  
    Net cash used in financing activities 
     100,000  
     170,700 

    Net change in cash 
     (14,132) 
     (203,451)

    Cash, beginning of the year