Company: CERO
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112619
Chunk: 241

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 8
Chunk 241
---
 and increase the size of the Initial Closing (as defined
in the Fifth Securities Purchase Agreement) by $500,000 to an aggregate of approximately $2.25 million of gross proceeds and reduce the
size of the Additional Closings (as defined in the Fifth Securities Purchase Agreement) by an offsetting amount. There was no change
to the aggregate amount of up to $7 million of proceeds to be funded pursuant to the Fifth Securities Purchase Agreement upon consummation
of all of the Closings (as defined in the Fifth Securities Purchase Agreement) provided for therein. On October 16, 2025, pursuant to
the Fifth Securities Purchase Agreement, we issued and sold, and the PIPE Investors purchased 3,816 shares of the Series E Preferred
Stock for aggregate proceeds of approximately $2.25 million, paid in cash.

41

Any estimate as to how long
the Company expects the net proceeds from the ELOC and Series D Preferred Stock and Series E Preferred Stock funding may fund the Company’s
operations is based on assumptions that may prove to be wrong, and the Company could use its available capital resources sooner than
its current expectations. On October 31, 2025, the Common Stock ceased trading on Nasdaq as a result of the Panel’s delisting determination.
The OTC Pink Sheets and, if the Common Stock is admitted for trading thereon, the OTC Markets, are expected to be less liquid markets
for the Common Stock. Such lack of liquidity may cause the investors party to the Fifth Securities Purchase Agreement to be less likely
to exercise their option to acquire additional shares of Series E Preferred Stock and otherwise make it more difficult for us to raise
capital. Changing circumstances, some of which may be beyond the Company’s control, could result in less cash and cash equivalents
available to fund operations or cause the Company to consume capital significantly faster than currently anticipated, and the Company
may need to seek additional funds from additional sources sooner than planned.

Because of the numerous
risks and uncertainties associated with research, development and commercialization of pharmaceutical drug products, the Company is unable
to estimate the exact amount of its operating capital requirements. The Company’s future funding requirements will depend on many
factors, including, but not limited to those listed under “Factors Affecting Our Performance” above.

Identifying potential product
candidates and conducting preclinical studies and clinical trials is a time-consuming, expensive and uncertain process that takes many
years to complete, and the Company may never generate the