Company: CERO
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044335
Chunk: 29

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 29
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for the operating lease was recorded in the consolidated balance sheets as follows:

     March 31,   December 31,      2025   2024      (Successor)   (Successor)   Operating lease liabilities, current  $905,005   $876,392   Operating lease liabilities, non-current   461,580    699,107   Total operating lease liabilities  $1,366,585   $1,575,499                Weighted-average remaining lease term of operating leases (in years)   1.50    1.75   Weighted-average discount rate for operating leases   9.60%   9.60% 

The following table reconciles
the undiscounted future minimum lease payments under the non-cancelable operating lease with terms of more than one year to the total
operating lease liabilities recognized on the Company’s balance sheet as of March 31, 2025:

Maturity of the Company’s
lease liabilities as of March 31, 2025 is as follows:

    2025 (remainder of year) 
    $744,992 
  
    2026 
     726,394 
  
    Total lease payments 
     1,471,386 
  
    Less: imputed interest 
     (104,801)
  
    Total lease liabilities 
    $1,366,585 

NOTE 8 – STOCKHOLDERS’
DEFICIT

Successor Series A Convertible Preferred Stock

The Company designated 12,580
shares of its authorized preferred stock as the Series A Preferred Stock and the rights, preferences and privileges of the Series A Preferred
Stock are summarized below.

Each share of Series A Preferred
Stock has a stated value of $1,000 per share and, when issued, the Series A Preferred Stock was fully paid and non-assessable. The Series
A Preferred Stock, ranks senior to all other Company capital stock unless required holder votes are obtained to create a class of stock
senior to Series A Preferred Stock. The requisite holders of Series A Preferred Stock consented to the issuance of the Series C Preferred
Stock described below, which ranks senior to the Series A Preferred Stock and Series B Preferred Stock.

Dividend and Participation
Rights: The holders of Series A Preferred Stock will be entitled to dividends, on an as-if converted basis, equal to and