Company: OCEA
Filing Date: 2025-01-13
Form Type: 10-Q
Source: 0001493152-25-001880
Chunk: 1

Company: Ocean Biomedical, Inc.
Filing Date: 2025-01-13
Form: 10-Q
Item: Item 1
Chunk 1
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     (196,055)
  
    Total stockholders’ deficit 
     (98,085) 
     (90,763)
  
    TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 
    $1,132  
    $5,501 

See
accompanying notes to the unaudited condensed consolidated financial statements

4

OCEAN
BIOMEDICAL, INC.

Condensed
Consolidated Statements of Operations

(in
thousands, except per share data)

(unaudited)

    2024  
    2023  
    2024  
    2023 

    Three Months Ended  September 30,  
    Nine Months Ended  September 30, 

    2024  
    2023  
    2024  
    2023 
  
    OPERATING EXPENSES: 

    Research and development 
    $-  
    $305  
    $26  
    $726 
  
    General and administrative 
     768  
     2,350  
     2,019  
     10,148 
  
    Total operating expenses 
     768  
     2,655  
     2,045  
     10,874 
  
    OPERATING LOSS 
     (768) 
     (2,655) 
     (2,045) 
     (10,874)
  
    OTHER INCOME (EXPENSE) 

    Change in fair value of 2023 Convertible Note, SPA Warrant, and the Ayrton Note Purchase Option 
     (126) 
     570  
     (1,462) 
     (589)
  
    Loss in connection with Share Consideration shares 
     -  
     -  
     -  
     (12,676)
  
    Gain (loss) in connection with backstop put option liability and fixed
maturity consideration 
     (1,533) 
     (11,373) 
     442  
     (45,404)
  
    Fair value of warrant issuances 
     -  
     -  
     -  
     (2,301)
  
    Fair value of non-cash stock issuances 
     -  
     (109)