Financial Performance - Klotho Neurosciences, Inc. reported no revenue for the years ended December 31, 2024 and 2023 [290]. - The net loss for the year ended December 31, 2024 was $6,150,372, compared to a net loss of $707,458 for 2023, reflecting a significant increase in losses [292]. Operating Expenses - Operating expenses increased to $5,540,236 in 2024 from $631,322 in 2023, a rise of 778% primarily due to increased stock-based compensation and business combination expenses [291]. - The company has incurred significant professional costs to maintain its status as a publicly traded entity and anticipates continued high expenses related to its business operations [298]. Cash Flow - Net cash used in operating activities rose to $2,946,512 in 2024 from $446,916 in 2023, indicating increased operational costs [295]. - Net cash used in investing activities was $123,497 in 2024, compared to net cash provided of $23,582 in 2023, reflecting a cash outflow due to license acquisitions [296]. - Net cash provided by financing activities was $3,130,942 in 2024, a substantial increase from $350,000 in 2023, driven by proceeds from the business combination and other financing [297]. Financial Position - Current assets as of December 31, 2024 were $157,811, while current liabilities were $1,247,534, resulting in a working capital deficit of $1,089,723 [293]. - As of December 31, 2024, the company had cash of $63,741 and an accumulated deficit of approximately $10.6 million, raising concerns about its ability to continue as a going concern [299]. Business Focus - Klotho Neurosciences, Inc. is focused on developing essential medicines for chronic diseases, including cancer and neurodegenerative disorders, utilizing a proprietary gene therapy platform [285].
Redwoods Acquisition (RWOD) - 2024 Q4 - Annual Report