Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 1838

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 13
Chunk 1838
---
 plan, contract or arrangement.

    +
    As permitted by Regulation
    S-K, Item 601(b)(10)(iv) of the Securities Exchange Act of 1934, as amended, certain confidential portions of this exhibit have been
    redacted from the publicly filed document. The Registrant agrees to furnish supplementally an unredacted copy of the exhibit to the
    Securities and Exchange Commission upon its request.

Item
16. Form 10-K Summary.

Not
applicable.

177

OCEAN
BIOMEDICAL, INC.

(FKA
AESTHER HEALTHCARE ACQUISITION CORP.)

INDEX
TO FINANCIAL

STATEMENTS

Legacy
Ocean’s Consolidated Financial Statements for the Years Ended December 31, 2024 and 2023

    Page
  
    Reports of Independent Registered Public Accounting Firms (PCAOB ID 52 & PCAOB ID 34)
    F-2
  
    Consolidated
    Financial Statements

    Consolidated Balance Sheets
    F-4
  
    Consolidated Statements of Operations
    F-5
  
    Consolidated
Statements of Stockholders’ Deficit
    F-6
  
    Consolidated Statements of Cash Flows
    F-7
  
    Notes to Consolidated Financial Statements
    F-8

F-1

REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To
the Stockholders and the Board of Directors of Ocean Biomedical, Inc.

Opinion
on the Financial Statements

We
have audited the accompanying consolidated balance sheet of Ocean Biomedical, Inc. and subsidiaries (the “Company”) as
of December 31, 2024, and the related consolidated statements of operations, stockholders’ deficit, and cash flows for the
year then ended, and the related notes (collectively referred to as the “consolidated financial statements”). In our
opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of
December 31, 2024, and the results of its operations and its cash flows for the year then ended, in conformity
with accounting principles generally accepted in the United States of America.

Substantial
Doubt about the Company’s Ability to Continue as a Going Concern

The
accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed
in Note 1 to the consolidated financial statements, the Company has suffered