Company: CERO
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001213900-25-011071
Chunk: 86

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-07
Form: 424B3
Chunk 86
---
 value) in the equity
ownership of certain stockholders over a rolling three-year period), the corporation’s ability to use its pre-change net operating
loss carryforwards and other pre-change tax attributes to offset its post-change income or taxes may be limited. We have not yet completed
a Section 382 or Section 383 analysis, and therefore, there can be no assurances that any previously experienced ownership
changes have not materially limited our utilization of affected net operating loss carryforwards or other tax attributes. We may experience
ownership changes in the future, including in connection with the proposed Business Combination as a result of shifts in our stock ownership.
We anticipate incurring significant additional net losses for the foreseeable future, and our ability to utilize net operating loss carryforwards
associated with any such losses to offset future taxable income may be limited to the extent we incur future ownership changes. In addition,
at the state level, there may be periods during which the use of net operating loss carryforwards is suspended or otherwise limited,
which could accelerate or permanently increase state taxes owed. As a result, we may be unable to use all or a material portion of our
net operating loss carryforwards and other tax attributes, which could adversely affect our future cash flows.

<div align='center'>43</div>

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 incoming Trump administration proposed various U.S. federal tax law changes, which
if enacted could have a material impact on our business, cash flows, financial condition or results of operations. 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 one-time charges, and could increase our future U.S. tax
expense.

Even if we obtain FDA approval of any of our product candidates, we may never obtain approval or commercialize such products outside of the United States, which would limit our ability to realize their full market potential.

In order to market any products