Company: ARTL
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001640334-25-000335
Chunk: 518

Company: ARTELO BIOSCIENCES, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 2
Chunk 518
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 and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provides a reasonable basis for our opinion.

Critical Audit Matters

The critical audit matters communicated below are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. We determined that there are no critical audit matters.

/s/ MaloneBailey, LLP

www.malonebailey.com

We have served as the Company's auditor since 2015.

Houston, Texas

March 3, 2025

 F-2Table of Contents

ARTELO BIOSCIENCES, INC.

Consolidated Balance Sheets

(In thousands, except share data)

  December 31,  December 31,   2024  2023        ASSETS      Current Assets      Cash and cash equivalents $2,338  $2,815 Trading marketable securities  -   7,611 Prepaid expenses and other current assets  219   554 Total Current Assets  2,557   10,980 Operating lease right-of-use assets  99   21 Intangible asset  2,039   2,039 Other assets  3   3 TOTAL ASSETS $4,698  $13,043          LIABILITIES AND STOCKHOLDERS' EQUITY        Current Liabilities        Accounts payable and accrued liabilities $1,679  $1,238 Due to related parties  61   30 Operating lease liabilities - current portion  35   23 Total Current Liabilities  1,772   1,291          Operating lease liabilities  69   - TOTAL LIABILITIES  1,841   1,291          STOCKHOLDERS' EQUITY        Preferred Stock, par value $0.001, 416,667 shares authorized,        0 shares issued and outstanding as of December 31, 2024, and 2023  -   - Common Stock, par value $0.001, 50,000,