Company: OCEA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-011080
Chunk: 197

Company: Ocean Biomedical, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 197
---
 a result, we will adopt new or revised accounting standards at the
time private companies adopt the new or revised accounting standard and will do so until such time that we either (i) irrevocably elect
to “opt out” of such extended transition period or (ii) no longer qualify as an emerging growth company.

We are also a “smaller
reporting company” meaning that the market value of our stock held by non-affiliates is expected to be less than $700 million and
our annual revenue was less than $100 million during the most recently completed fiscal year. We may continue to be a smaller reporting
company if either (i) the market value of our stock held by non-affiliates is less than $250 million or (ii) our annual revenue was less
than $100 million during the most recently completed fiscal year and the market value of our stock held by non-affiliates is less than
$700 million. If we are a smaller reporting company at the time that we cease to be an emerging growth company, we may continue to rely
on exemptions from certain disclosure requirements that are available to smaller reporting companies. Specifically, as a smaller reporting
company, we may choose to present only the two most recent fiscal years of audited financial statements in our Annual Report on Form 10-K
and, similar to emerging growth companies, smaller reporting companies have reduced disclosure obligations regarding executive compensation.

Item 3. Quantitative and Qualitative
Disclosures About Market Risk.

As a smaller reporting company
(as defined in Rule 12b-2 of the Exchange Act), we are not required to provide disclosure under this Item 3.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls
and Procedures

Under the supervision and with
the participation of our management, including our Chief Executive Officer and our Chief Financial Officer (our principal executive officer
and principal accounting/financial officer), we conducted an evaluation of the effectiveness of the design and operation of our disclosure
controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, as of the end of the period covered by this
Report. Our disclosure controls and procedures are designed to ensure that information required to be disclosed in the reports we file
or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s
rules and forms, and that such information is accumulated and communicated to our management, including the Chief Executive