Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2644

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1
Chunk 2644
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, and our financial statements may be materially
misstated. We or our independent registered public accounting firm may not be able to conclude on an ongoing basis that we have effective
internal control over financial reporting, which could harm our operating results, cause investors to lose confidence in our reported
financial information and cause the trading price of our stock to fall. In addition, as a public company, we will be required to file
accurate and timely quarterly and annual reports with the SEC under the Exchange Act. Any failure to report our financial results on
an accurate and timely basis could result in sanctions, lawsuits, delisting of our shares from Nasdaq or other adverse consequences that
would materially harm our business. In addition, we could become subject to investigations by Nasdaq, the SEC, and other regulatory authorities,
and become subject to litigation from investors and stockholders, which could harm our reputation and our financial condition, or divert
financial and management resources from our core business.

109

Our
independent registered public accounting firm has not performed an evaluation of our internal control over financial reporting in accordance
with the provision of the Sarbanes-Oxley Act of 2002, as amended, or the Sarbanes-Oxley Act, because no such evaluation has been required.
Had an independent registered public accounting firm performed an evaluation of our internal control over financial reporting in accordance
with the provisions of the Sarbanes-Oxley Act, additional material weaknesses might have been identified.

If
we fail to maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial
results or prevent fraud. As a result, stockholders could lose confidence in our financial and other public reporting, which would harm
our business and the trading price of our common stock.

Effective
internal controls over financial reporting are necessary for us to provide reliable financial reports and, together with adequate disclosure
controls and procedures, are designed to prevent fraud. Any failure to implement required new or improved controls, or difficulties encountered
in their implementation could cause us to fail to meet our reporting obligations. In addition, any testing by us conducted in connection
with Section 404, may reveal deficiencies in our internal
controls over financial reporting that are deemed to be material weaknesses or that may require prospective or retroactive changes to
our financial statements or identify other areas for further attention or improvement. Inferior internal controls could also cause investors
to lose confidence in our reported financial information, which could have a negative effect on the trading price