Onconetix Inc
For the period ended Sep 30, 2024. Filed Dec 10, 2024.
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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 Dec 10, 2024
ONCO$3.47-3.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023 | |
|---|---|---|
| Cash flows from operating activities | ||
| Net loss | $(29,252,681) | $(15,058,822) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Impairment of deposit on asset purchase agreement | — | 3,500,000 |
| Impairment on other long-lived assets | — | 267,019 |
| Impairment of goodwill | 15,453,000 | — |
| Impairment of ENTADFI assets | 3,530,716 | — |
| Amortization of debt discounts | 371,578 | 483,093 |
| Amortization of debt discount – related party | 400,000 | — |
| Loss on related party receivable | — | 265,648 |
| Loss on extinguishment of note payable | — | 490,000 |
| Depreciation and amortization | 612,046 | 4,886 |
| Change in fair value of subscription agreement liability – related party | 950,000 | — |
| Net periodic pension benefit | 16,502 | — |
| Stock-based compensation | 98,228 | 563,761 |
| Interest accrued on note payable | 230,532 | — |
| Interest accrued on note payable – related party | 134,247 | — |
| Loss on impairment of inventory of ENTADFI | 356,637 | — |
| Change in fair value of contingent warrant liability | (35,730) | 99,787 |
| Deferred tax benefit | (127,183) | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 49,079 | — |
| Inventories | (113,102) | (299,272) |
| Prepaid expenses and other current assets | 70,563 | (9,526) |
| Prepaid expenses, long-term | (7,749) | (16,882) |
| Accounts payable | (1,242,071) | 1,418,048 |
| Accrued expenses | (1,072,781) | (976,871) |
| Net cash used in operating activities | (9,578,169) | (9,269,131) |
| Cash flows from investing activities | ||
| Acquisition of assets, including transaction costs of $79,771 | — | (6,079,771) |
| Deposit made in connection with asset purchase agreement | — | (3,500,000) |
| Purchases of other long-lived assets | — | (51,744) |
| Net advances to related parties | — | (229,798) |
| Purchases of property and equipment | (24,597) | (3,300) |
| Net cash used in investing activities | (24,597) | (9,864,613) |
| Cash flows from financing activities | ||
| Proceeds from issuance of note payable – related party | 5,000,000 | — |
| Proceeds from issuance of note payable | 853,550 | — |
| Payment of financing costs | (400,000) | — |
| Principal payments of notes payable | (942,307) | (1,000,000) |
| Proceeds from exercise of preferred investment options, net | 922,749 | 2,298,675 |
| Proceeds from exercise of stock options | 163 | 459 |
| Proceeds from exercise of warrants | 6,155 | — |
| Payment of deferred offering costs | — | (205,093) |
| Purchase of treasury shares | — | (58,981) |
| Net cash provided by (used in) financing activities | 5,440,310 | 1,035,060 |
| Effect of exchange rate changes on cash | (50,384) | — |
| Net decrease in cash | (4,212,840) | (18,098,684) |
| Cash, beginning of period | 4,554,335 | 25,752,659 |
| Cash, end of period | $341,495 | $7,653,975 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $19,658 | $— |
| Noncash investing and financing activities: | ||
| Inventory and intangible assets acquired through issuance of notes payable | $— | $12,947,000 |
| Incremental fair value of exchanged preferred investment options | $1,874,777 | $2,613,011 |
| Deferred offering costs included in accounts payable and accrued expenses | $— | $150,000 |
| Recognition of contingent warrant liability | $157,720 | $25,837 |
| Warrants issued for settlement of contingent warrants | $— | $129,184 |
| Deferred offering costs previously included in prepaid expenses | $— | $(11,020) |
| Conversion of Series A Preferred Stock to common stock | $1 | $— |
| Conversion of Series B Preferred Stock to common stock | $64,236,085 | $— |
| Exercise of pre-funded warrants | $— | $7 |
| Issuance of restricted stock | $— | $5 |
| Restricted stock forfeitures | $— | $(2) |
| Settlement of related party note payable and accrued interest through issuance of common stock | $5,134,247 | $— |
| Operating right-of-use asset obtained in exchange of lease liability | $87,864 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.