Company: ARTL
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001640334-25-000825
Chunk: 124

Company: ARTELO BIOSCIENCES, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 124
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 2025  2024        Lease cost      Operating lease cost $8  $8          Other information        Cash paid for operating cash flows from operating leases $8  $8 Right-of-use assets obtained in exchange for new operating lease liability $-  $111          Weighted-average remaining lease term — operating leases (years)  2.33   3.33 Weighted-average discount rate — operating leases  7.50%  7.50%

 13Table of Contents

 Future minimum lease payments under the operating lease liability have non-cancellable lease payments at March 31, 2025, as follows:   Total Year Ended December 31,   2025 $31 2026  43 2027  30 2028  - Thereafter  -    104 Less: Imputed interest  (9)Operating lease liabilities  95      Operating lease liability - current  36 Operating lease liability - non-current $59 

NOTE 9 – COMMITMENTS AND CONTINGENCIES The Company has certain financial commitments relating to research and development contracts as of March 31, 2025, as follows:  ·The Company is invoiced monthly and quarterly in connection with several research and development contracts. ·The Company may be obligated to make additional payments related to research and development contracts entered into, dependent on the progress and milestones achieved through the programs. ·The Company’s principal executive office is currently located at 505 Lomas Santa Fe Drive, Suite 160, Solana Beach, CA, US. Additionally, we have an office outside Manchester, UK, which serves as administrative spaces for managing our subsidiaries, Trinity Reliant Ventures, Ltd (Ireland) and Artelo Biosciences Limited (UK). We do not currently own any properties, laboratories, or manufacturing facilities. The Solana Beach lease runs through August 2027 and the Manchester UK lease is month-to-month.

NOTE 10 – SUBSEQUENT EVENTS On May 1, 2025, the Company issued at-market, unsecured convertible notes with gross proceeds of $650. Funds totaling $236 received from investors as of March 31, 2025, prior to the issuance of the convertible notes, are reflected in the consolidated balance sheet as advances from investors. The convertible notes bear interest at