Company: TELO
Filing Date: 2025-02-04
Form Type: 10-K
Source: 0001493152-25-004872
Chunk: 345

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-02-04
Form: 10-K
Item: Item 1
Chunk 345
---
 order to fund operating
activities. The total amount advanced and outstanding as of November 30, 2023, was $1.7 million. These advances were converted into 837,841
shares of our common stock on November 30, 2023 at a conversion rate of $2.05 per share (after giving effect to our 1-for-2.05 reverse
stock split that occurred on December 11, 2023) pursuant to a conversion agreement. The total amount advanced and outstanding as of December
31, 2024 was $0.06 million.

We
have incurred significant losses and negative cash flows from operations since inception and expect to incur additional losses until
such time that we can generate significant revenue and profit. We had negative cash flow from operations of approximately $5.1 million
for the year ended December 31, 2024 and an accumulated deficit of approximately $30.6 million as of December 31, 2024. As of December
31, 2024 we had cash and cash equivalents of approximately $1.3 million.

50

We
currently expect that our cash and cash equivalents will be sufficient to fund our operations, development plans, and capital expenditures
midway through the second quarter of 2025. As such, there is substantial doubt about the Company’s ability to continue as a going
concern.

We
did not have any material non-cancellable contractual obligations as of December 31, 2024.

Cash
Flows

The
following table provides information regarding our cash flows for the periods presented:

    Year Ended December 31, 

    2024  
    2023 
  
    Net cash provided by (used in): 

    Operating activities 
    $(5,070,428) 
    $(3,859,796)
  
    Financing
    activities 
     6,335,328  
     3,859,608 
  
    Net change in cash 
    $1,264,900  
    $(188)

Net
Cash Used in Operating Activities

For
the year ended December 31, 2024, operating activities used $5.1 million of cash, primarily due to a net loss of $16.5 million, offset
by a $0.11 million change in accounts payable, accrued and prepaid expenses, $4.4 million in amortization of debt issuance costs and
$6.9 million of stock compensation expense. Accounts payable was