Company: CERO
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032134
Chunk: 2104

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 2104
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 financial statements have been prepared in accordance with accounting principles generally accepted in the United States
of America (“GAAP”) and the applicable rules and regulations of the SEC. In the opinion of management, the accompanying consolidated
financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of
the financial position, operating results and cash flows for the periods presented.

On February 14, 2024, the
Company completed the Merger with CERo Therapeutics, Inc., with CERo Therapeutics, Inc. surviving the Merger as a wholly-owned subsidiary
of the Company, the accounting acquirer. The transaction was accounted for as a forward Merger asset acquisition.

Unless the context otherwise
requires, the “Company,” for periods prior to the Closing, refers to CERo Therapeutics, Inc. (“Predecessor”),
and for the periods after the Closing, refers to CERo Therapeutics Holdings, Inc. (“Successor” or the “Company”).
As a result of the Merger, the results of operations, financial position and cash flows of the Predecessor and the Company are not directly
comparable. CERo Therapeutics, Inc. was deemed to be the Predecessor entity. Accordingly, the historical financial statements of CERo
Therapeutics, Inc. became the historical financial statements of the combined Company, upon the consummation of the Merger. As a result,
the financial statements included in this report reflect (i) the historical operating results of CERo Therapeutics, Inc. prior to the
Merger and (ii) the combined results of the Company, CERo Therapeutics Holdings, Inc., following the Merger. The accompanying consolidated
financial statements include a Predecessor period, which includes the period from January 1, 2024 to February 13, 2024 concurrent with
the Merger, and a Successor period from February 14, 2024 through December 31, 2024. A black line between the Successor and Predecessor
periods has been placed in the consolidated financial statements and in the tables to the notes to the consolidated financial statements
to highlight the lack of comparability between these two periods.

Use of estimates – The preparation
of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities, disclosure of contingent liabilities at the date of the financial statements, and the reported