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Midas Edge

180 Life Sciences Corp

For the period ended Sep 30, 2024. Filed Nov 14, 2024.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 14, 2024

FRMM$2.82-2.1%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 exhibits
Contents

Condensed Consolidated Statements of Changes in Stockholders’ (Deficit) Equity

Accumulated
Additional · Other · Total
Common Stock · Paid-in · Comprehensive · Accumulated · Stockholders’
SharesAmountCapitalIncomeDeficitEquity
Balance - January 1, 2024534,719$54$130,117,209$(2,901,339)$(127,343,657)$(127,733)
Shares issued from exercise of pre-funded warrants related to Amendment to August 2023 Offering257,20526463--489
Adjustment related to reverse stock split in February 202460,8486(6)---
Stock based compensation--236,062--236,062
Comprehensive income (loss):
Net loss----(1,069,744)(1,069,744)
Other comprehensive income---6,460-6,460
Balance -March 31, 2024852,77286130,353,728(2,894,879)(128,413,401)(954,466)
Shares issued for settlement of liabilities88,8189523,242--523,251
Stock based compensation--22,308--22,308
Comprehensive income (loss):
Net income----11,78111,781
Other comprehensive income---(20,861)-(20,861)
Balance -June 30, 2024941,590$95$130,899,278$(2,915,740)$(128,401,620)$(417,987)
Shares issued for settlement of liabilities85,3408190,003--190,011
Stock based compensation--16,456--16,456
Warrants issued for asset acquisition--4,849,346--4,849,346
Comprehensive income (loss):
Net loss----(836,720)(836,720)
Other comprehensive loss---(67,332)-(67,332)
Balance -September 30, 20241,026,930$103$135,955,083$(2,983,072)$(129,238,340)$3,733,774
Accumulated
Additional · Other · Total
Common Stock · Paid-in · Comprehensive · Accumulated · Stockholders’
SharesAmountCapitalIncomeDeficitEquity
Balance - January 1, 2023197,209$20$121,637,966$(2,885,523)$(107,408,545)$11,343,918
Stock based compensation--557,421--557,421
Comprehensive income (loss):
Net loss----(4,762,078)(4,762,078)
Other comprehensive income---663-663
Balance - March 31, 2023197,20920122,195,387(2,884,860)(112,170,623)7,139,924
Issuance of April 2023 pre-funded and common warrants, net--2,337,706--2,337,706
Shares issued from exercise of April 2023 pre-funded warrants61,6156111--117
Shares issued in connection with April 2023 Offering, net21,0532382,180--382,182
Stock based compensation--551,310--551,310
Comprehensive income (loss):-
Net loss----(3,680,169)(3,680,169)
Other comprehensive loss---(15,267)-(15,267)
Balance - June 30, 2023279,87728125,466,694(2,900,127)(115,850,792)6,715,803
Shares issued for professional services to directors4,763-60,624--60,624
Issuance of August 2023 pre-funded warrants and common warrants, net--2,459,282--2,459,282
Shares issued from exercise of August 2023 pre-funded warrants34,919462--66
Shares issued in connection with August 2023 Offering35,1024245,344--245,348
Stock based compensation--583,994583,994
Comprehensive income (loss):
Net loss----(10,265,760)(10,265,760)
Other comprehensive income---51,316-51,316
Balance - September 30, 2023354,661$35$128,816,000$(2,848,811)$(126,116,552)$(149,327)

**180 LIFE SCIENCES CORP. AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows

For the Nine Months Ended
September 30,
2024 · 2023
Cash Flows from Operating Activities
Net Loss$(1,894,683)$(18,708,007)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation
Shares issued for services-60,624
Amortization of stock options and restricted stock units274,8261,692,725
Loss on IP R&D asset impairment-9,063,000
Depreciation and amortization61,40883,015
Change in fair value of derivative liabilities(58)(69,776)
Gain loss on settlement of liabilities(194,211)-
Deferred tax benefit-(2,345,025)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets1,443,4711,273,033
Accounts payable4,060(99,169)
Accounts payable - related parties317,54151,227
Accrued expenses(542,260)94,778
Accrued expenses – related parties-141,366
Total adjustments1,364,7779,945,798
Net Cash Used In Operating Activities(529,906)(8,762,209)
Cash Flows from Financing Activities
Proceeds from exercise of pre-funded warrants from the Amendment to August 2023 Offering489-
Proceeds from sale of April 2023 Offering stock and warrants-2,999,882
Proceeds from sale of August 2023 Offering stock and warrants-2,999,606
Proceeds from exercise of April 2023 Offering pre-funded warrants-117
Proceeds from exercise of August 2023 Offering pre-funded warrants-66
Payment of offering costs in connection with April 2023 Offering stock and warrants-(279,994)
Payment of offering costs in connection with August 2023 Offering stock and warrants-(294,976)
Repayment of loans payable(1,005,856)(985,175)
Net cash provided by (used in) financing activities(1,005,367)4,439,526
Effect of Exchange Rate Changes on Cash(245,606)15,093
Net Decrease In Cash(1,780,879)(4,307,590)
Cash – Beginning of Period1,975,7996,970,110
Cash – End of Period$194,920$2,662,520
Supplemental Disclosures of Cash Flow Information:
Cash paid during the period for income taxes$-$-
Cash paid during the period for interest expense$12,078$21,722
Non cash investing and financing activities
Common stock issued for settlement of liabilities$523,251$-
Warrants and Series B Convertible Preferred Stock issued for asset acquisition$7,622,041$-
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.