Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q/A
Source: 0001641172-25-024123
Chunk: 18

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q/A
Chunk 18
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 either (1) prospectively to financial statements issued for periods after the effective date of this ASU or (2) retrospectively to all prior periods presented in the consolidated financial statements. The Company is currently evaluating the impact that the adoption of ASU 2024-03 will have on its consolidated financial statements and disclosures.

2. Restatement of Previously Issued Financial Statements

Restatement of Previously Issued Financial Statements: March 31, 2025

In connection with the preparation of the Company’s financial statements for the three and six months ended June 30, 2025, the Company’s management determined that a restatement was necessary in its previously issued unaudited financial statements, relating to the balance sheet as of March 31, 2025, condensed consolidated statement of operations and comprehensive loss for the three months ended March 31, 2025, the condensed consolidated statement of changes in stockholders’ deficit as of March 31, 2025 and the condensed consolidated statement of cash flows for the three months ended March 31, 2025. Management has evaluated this change and concluded it was material to the period ending March 31, 2025.

The impact of the errors described above on the condensed consolidated balance sheet as of March 31, 2025, is as follows:

Schedule of Restatement Items on the Financial Statements

|                                             |     | As Previously                    
 Reported                         
 As of March 31, 2025 (Unaudited) |         |   |     | Adjustment |     |     | As Restated |         |   |
|:--------------------------------------------|:----|:---------------------------------|--------:|:--|:----|:-----------|----:|:----|:------------|--------:|:--|
|                                             |     | As Previously                    
 Reported                         |         |   |     | Adjustment |     |     | As Restated |         |   |
| Balance Sheets (in thousands)               |     |                                  |         |   |     |            |     |     |             |         |   |
| Assets                                      |     |                                  |         |   |     |            |     |     |             |         |   |
| Equipment and clinical assets, net          |     |                                  |      41 |   |     |            | 393 |     |             |     434 |   |
| Total Assets                                |     |                                  |   7,321 |   |     |            | 393 |     |             |