Company: TELO
Filing Date: 2025-02-04
Form Type: 10-K
Source: 0001493152-25-004872
Chunk: 731

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-02-04
Form: 10-K
Item: Item 2
Chunk 731
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FDA”) in second half of 2025. National phase filings are expected to
be made during the first quarter of 2026.

As
 used herein, the Company’s common stock, no par value per share, is referred to as the “Common Stock” and the
Company’s preferred stock, no par value per share, is referred to as the “Preferred Stock”.

Reverse Stock Split

Effective December 11, 2023, the Company completed
a reverse stock split of its outstanding common stock upon the filing of the Company’s Second Amended and Restated Articles of Incorporation
with the Florida Secretary of State. No fractional shares were or will be issued in connection with the reverse stock split, and all such
fractional shares resulting from the reverse stock split were and will be rounded up to the nearest whole number. The shares issuable
upon the exercise of our outstanding warrants, and the exercise price of such warrants, have been adjusted to reflect the reverse stock
split. Unless otherwise noted, all share and per share information in this Report retrospectively reflects the reverse stock split. (See
Note 6 “Common Stock”).

 Initial
public offering

On
February 13, 2024, the Company closed its initial public offering (the “IPO”) consisting of 1,000,000 shares of Common Stock
at a price of $7.00 per share for approximately $7.0 million in gross proceeds. After deducting the underwriting commission and other
offering expenses totaling $1.2 million, the net proceeds to the Company were $5.8 million. The Common Stock began trading on The Nasdaq
Capital Market on February 9, 2024 under the symbol “TELO” (See Note 6 “Common Stock”).

Revenue
recognition

The
Company currently has no source of revenue. Miscellaneous income, including interest, is recognized when earned by the Company

Income
taxes 

The
Company accounts for income taxes pursuant to the provision of Accounting Standards Codification (“ASC”) 740-10, “Accounting
for Income Taxes” (“ASC 740-10”), which requires, among other things, an asset and liability approach to calculating
deferred income taxes. The asset and liability approach requires the recognition of deferred tax assets and liabilities for the expected
future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. A valuation
allowance is provided to offset any net deferred tax assets for