Financial Performance - As of December 31, 2022, the accumulated deficit was $99.3 million, up from $76.3 million in 2021, indicating significant ongoing losses [326][349]. - The net loss for the year ended December 31, 2022, was $23.0 million, a 401% increase from the net loss of $4.6 million in 2021 [348]. - Total operating expenses for 2022 were $11.6 million, a 161% increase from $4.4 million in 2021, driven by a 292% increase in general and administrative expenses [342][344]. - The company has incurred recurring significant losses, raising substantial doubt about its ability to continue as a going concern [412]. - The net loss for 2022 was $23,013,000, compared to a net loss of $4,596,000 in 2021, indicating a significant increase in losses [422]. Cash and Liquidity - The company had cash of $0.0 million as of December 31, 2022, down from $0.5 million in 2021, raising concerns about liquidity [327][350]. - The company’s cash, beginning of the period, was $510 thousand, which decreased to $47 thousand by the end of the period [422]. - The company’s liquidity is heavily dependent on raising additional capital, which may not be available on acceptable terms [430]. Revenue Generation - The company has not generated any revenue from commercialized products to date, relying primarily on government and other grants [332]. - The company has not yet commercialized its product and remains in the pre-revenue stage focused on product development [425]. Funding and Capital Structure - The company expects to finance operations through equity or debt sales, collaborations, and grants, but adequate capital may not be available when needed [331][350]. - The Company entered into a securities purchase agreement to issue up to $9.8 million in senior unsecured convertible notes and warrants, with the first note issued for $3.3 million [359]. - The Company entered into an equity line financing arrangement allowing the sale of up to $100 million worth of shares of Common Stock, with a commitment fee of $2.5 million [392]. - The Company has no committed external source of funds and may need to delay or cease research and development programs if additional capital is not raised [368]. Business Combination - The Business Combination on October 28, 2022, resulted in the combination of LMF Merger Sub, Inc. and SeaStar Medical, Inc., with LMAO renamed to SeaStar Medical Holding Corporation [382]. - The aggregate consideration payable to the stockholders of SeaStar Medical, Inc. at the Closing was $85.4 million, resulting in the issuance of 8,540,552 shares of Common Stock valued at $10.00 per share [383]. - The Business Combination was treated as a reverse recapitalization, with SeaStar Medical, Inc. being considered the acquired company for financial reporting purposes [459]. Shareholder Information - The Company has the ability to redeem Public Shareholders' Warrants at $0.01 per warrant if the common stock price exceeds $18.00 for 20 out of 30 trading days [508]. - The Company is authorized to issue up to 110,000,000 shares, including 100,000,000 shares of common stock and 10,000,000 shares of preferred stock [514]. - Holders of common stock are entitled to one vote per share, with no cumulative voting rights provided in the Charter [516]. Expenses and Obligations - Total contractual obligations amounted to $8.83 million, with $1.18 million due within one year and $7.65 million due in 1-3 years [385]. - Total accrued expenses as of December 31, 2022, amounted to $2,245, a significant increase from $186 in 2021 [476]. - The Company has recorded an accrued expense of $1.5 million for the remaining commitment fee related to the equity line financing as of December 31, 2022 [392]. Notes and Debt - The LMFA Note has a principal amount of $0.7 million with an interest rate of 7% per annum, and the maturity date was extended to June 15, 2024 [394]. - The Maxim Note has a principal amount of $4.2 million, with a maturity date extended to June 15, 2024, and an interest rate of 7% per annum [400]. - Total notes payable as of December 31, 2022, were $8,830, with significant components including LMFAO note payable of $2,785 and Maxim note payable of $4,167 [480]. Stock and Compensation - Stock-based compensation increased to $1,311 thousand in 2022 from $14 thousand in 2021, reflecting a significant rise in compensation expenses [422]. - The total number of warrants outstanding as of December 31, 2022, was 16,857,714, compared to 69,714 in 2021 [511].

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR Commission file number 001-39927 SEASTAR MEDICAL HOLDING CORPORATION (Exact name of Registrant as specified in its charter) Delaware ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39927 LMF ACQUISITION OPPORTUNITIES INC. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of i ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39927 | Title of each class: | Trading symbol | Name of each exchange on which registered | | --- | --- | --- | | Units, each co ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39927 LMF ACQUISITION OPPORTUNITIES INC. (Exact name of Registrant as specified in its Charter) Delaware 85-3681132 (State or other j ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 LMF ACQUISITION OPPORTUNITIES INC. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 1200 West Platt Street Suite 100 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39927 LMF ACQUISITION OPPORTUNITIES INC. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of i ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) Commission file number 001-39927 LMF ACQUISITION OPPORTUNITIES INC. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 1200 West Platt Street ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES E ...

| UNITED STATES | | --- | | SECURITIES AND EXCHANGE COMMISSION | | Washington, D.C. 20549 | FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39927 LMF ACQUISITION OPPORTUNITIES INC. (Exact name of Registrant as specified in its Charter) Delaware 85-36811 ...