Company: CERO
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032134
Chunk: 2560

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 2560
---
 accrued expenses 
    $568,400  
    $-  
    $- 
  
    Deemed dividend – common stock liability, 13,835 shares 
    $85,500  
    $-  
    $- 

See accompanying notes to the consolidated financial
statements

F-6

CERO THERAPEUTICS HOLDINGS,
INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 – Organization
and Description of the Business

Nature of Operations – CERo Therapeutics
Holdings, Inc. (NASDAQ: CERO), F/K/A Phoenix Biotech Acquisition Corp. (“PBAX”) was incorporated in Delaware on June 8, 2021.
PBAX was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar
business combination with one or more businesses (a “business combination”).

Reverse Stock Split – On January
8, 2025, we effected a reverse stock split of our shares of common stock at a ratio of 1-for-100 (the “Reverse Stock Split”).
The Company’s common stock continued to trade on Nasdaq on a post-split basis under the Company’s existing trading symbol,
“CERO”.

All of the Company’s historical share and per share information
related to issued and outstanding common stock and outstanding options and warrants exercisable for common stock in these financial statements
have been adjusted, on a retroactive basis, to reflect the Reverse Stock Split.

Business Combination Agreement - On
June 6, 2023, CERo Therapeutics, Inc. (“Predecessor”), which was incorporated in Delaware on September 23, 2016, and
based in South San Francisco, California, entered into a Business Combination Agreement and Plan of Reorganization (the
“BCA”) with PBCE Merger Sub, Inc., a wholly-owned subsidiary of PBAX, and PBAX, with the surviving operating entity
being named CERo Therapeutics Holdings, Inc. (“Successor” or the “Company”), and such transaction, the
“Business Combination” or “Merger”.

The Company is an innovative
immunotherapy company advancing the development of next generation engineered T cell therapeutics for the treatment of cancer. The Company’s
proprietary approach to T cell engineering, which enables it to integrate certain desirable characteristics of both innate and adaptive
immunity into a single therapeutic construct, is designed to engage the body’s