180 Life Sciences Corp
For the period ended Dec 31, 2023. Filed Mar 25, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 25, 2024
FRMM$2.82-2.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(Expressed in US Dollars)
| For the Years Ended | ||
|---|---|---|
| December 31, | ||
| 2023 | 2022 | |
| Cash Flows from Operating Activities | ||
| Net loss | $(19,935,112) | $(38,726,259) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation | ||
| Shares issued for services | 89,189 | 331,591 |
| Amortization of stock options and restricted stock units | 2,194,135 | 2,633,826 |
| Impairment of goodwill | - | 33,547,278 |
| Impairment of IP R&D assets | 9,063,000 | 3,342,084 |
| Amortization of intangibles | 105,675 | 109,004 |
| Deferred tax liability | (2,349,683) | (942,749) |
| Change in fair value of derivative liabilities | (75,323) | (15,144,986) |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 337,282 | 1,018,303 |
| Accounts payable | 230,402 | 1,214,599 |
| Accounts payable – related parties | 56,008 | - |
| Accrued expenses | (440,621) | 319,936 |
| Accrued expenses – related parties | (197,175) | 169,788 |
| Total adjustments | 9,012,889 | 26,598,674 |
| Net Cash Used in Operating Activities | (10,922,223) | (12,127,585) |
| Cash Flows from Financing Activities | ||
| Offering costs in connection with July 2022 sale of common stock and common stock warrants | - | (529,982) |
| Offering costs in connection with December 2022 sale of common stock and common stock warrants | - | (484,991) |
| Offering costs in connection with April 2023 sale of common stock and common stock warrants | (279,994) | - |
| Offering costs in connection with August 2023 sale of common stock and common stock warrants | (294,976) | - |
| Offering costs in connection with the repricing of the August 2023 Offering | (59,846) | - |
| Proceeds from loans payable (Note 8) | 969,322 | 1,060,890 |
| Repayment of loans payable, net of adjustments (Note 8) | (1,257,388) | (1,591,035) |
| Repayment of loans payable – related parties | - | (81,277) |
| Proceeds from sale of July 2022 common stock and common stock warrants | - | 6,499,737 |
| Proceeds from sale of December 2022 common stock and common stock warrants | - | 5,999,851 |
| Proceeds from sale of April 2023 common stock and common stock warrants | 2,999,882 | |
| Proceeds from sale of August 2023 common stock and common stock warrants | 2,999,606 | |
| Proceeds from exercise of July 2022 pre-funded warrants | - | 263 |
| Proceeds from exercise of December 2022 pre-funded warrants | - | 150 |
| Proceeds from exercise of April 2023 pre-funded warrants | 117 | - |
| Proceeds from exercise of August 2023 pre-funded warrants | 395 | - |
| Proceeds from the repricing of common shares and pre-funded warrants in the August 2023 Offering | 830,769 | - |
| Net Cash Provided by Financing Activities | 5,907,887 | 10,873,606 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS, continued
(Expressed in US Dollars)
| For the Years Ended | ||||
|---|---|---|---|---|
| December 31, | ||||
| 2023 · 2022 | ||||
| Effect of Exchange Rate Changes on Cash | 20,025 | (419) | ||
| Net Decrease In Cash | (4,994,311) | (1,254,398) | ||
| Cash - Beginning of Period | 6,970,110 | 8,224,508 | ||
| Cash - End of Period | $1,975,799 | $6,970,110 | ||
| Supplemental Disclosures of Cash Flow Information: | ||||
| Cash paid during the period for income taxes | $ | - | $ | - |
| Cash paid during the period for interest | $21,722 | $15,060 | ||
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