Serve Robotics Inc DE
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
SERV$3.11-8.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets at December 31, 2023 and 2022
As of December 31, 2023 and 2022
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| ASSETS | ||
| Current assets: | ||
| Cash | $6,756 | $2,715,719 |
| Accounts receivable | 2,955 | 23,697 |
| Inventory | 774,349 | 618,262 |
| Prepaid expenses | 676,969 | 81,339 |
| Total current assets | 1,461,029 | 3,439,017 |
| Property and equipment, net | 48,422 | 3,376,427 |
| Right of use asset | 782,439 | 1,215,968 |
| Deposits | 512,659 | 512,659 |
| Total assets | $2,804,549 | 8,544,071 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||
| Current liabilities: | ||
| Accounts payable | $2,050,605 | $162,034 |
| Accrued liabilities | 255,849 | 37,434 |
| Note payable, current | 1,000,000 | 1,000,000 |
| Note payable - related party | 70,000 | - |
| Right of use liability, current portion | 496,963 | 483,186 |
| Lease liability, current portion | 2,363,807 | 2,214,348 |
| Total current liabilities | 6,237,224 | 3,897,002 |
| Note payable, net of current portion | 230,933 | 1,214,600 |
| Simple agreements for future equity | - | 13,150,745 |
| Restricted stock award liability | 158,617 | 162,747 |
| Right of use liability | 211,181 | 708,143 |
| Lease liability | - | 1,862,980 |
| Total liabilities | 6,837,955 | 20,996,217 |
| Commitments and contingencies (Note 12) | ||
| Stockholders’ equity (deficit): | ||
| Series Seed preferred stock, $0.0001 par value; 4,008,079¹ shares authorized, 0 and 3,091,672 shares issued and outstanding as of December 31, 2023 and 2022, respectively | - | 309 |
| Series Seed-1 preferred stock, $0.0001 par value; 3,037,227¹ shares authorized, 0 and 2,440,411 shares issued and outstanding as of December 31, 2023 and 2022, respectively | - | 244 |
| Series Seed-2 preferred stock, $0.0001 par value; 2,599,497¹ shares authorized, 0 and 2,088,696 shares issued and outstanding as of December 31, 2023 and 2022, respectively | - | 209 |
| Series Seed-3 preferred stock, $0.0001 par value; 445,347¹ shares authorized, 0 and 357,836 shares issued and outstanding as of December 31, 2023 and 2022, respectively | - | 36 |
| Preferred stock, $0.0001 par value, 10,000,000 shares authorized, no shares issued or outstanding as of December 31, 2023 | - | - |
| Common stock, $0.0001 par value; 300,000,000 shares authorized, 24,832,814 and 7,161,654 shares issued and 24,508,795 and 6,826,352 shares outstanding as of December 31, 2023 and 2022, respectively | 2,450 | 683 |
| Additional paid-in capital | 64,468,141 | 31,232,737 |
| Subscription receivable | (169,616) | (165,719) |
| Accumulated deficit | (68,334,381) | (43,520,645) |
| Total stockholders’ equity (deficit) | (4,033,406) | (12,452,146) |
| Total liabilities and stockholders’ equity (deficit) | 2,804,549 | 8,544,071 |
| 1 | The authorized shares of preferred stock in the consolidated balance sheets above reflect the historical authorized shares of Serve. Upon the Merger, shares issued and outstanding have been retroactively restated to reflect the exchange ratio of 0.8035 as described in Note 4. |
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