ZyVersa Therapeutics Inc

For the period ended Dec 31, 2023. Filed Mar 25, 2024.

About this filing

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

ZVSA$0.00-90.0%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Balance Sheets as of December 31, 2023 and 2022

CONSOLIDATED BALANCE SHEETS

	Successor
	December 31,
	2023	2022
Assets
Current Assets:
Cash	$3,137,674	$5,902,199
Prepaid expenses and other current assets	215,459	225,347
Vendor deposits	-	235,000
Total Current Assets	3,353,133	6,362,546
Equipment, net	6,933	17,333
In-process research and development	18,647,903	100,086,329
Goodwill	-	11,895,033
Security deposit	98,476	46,659
Operating lease right-of-use asset	7,839	98,371
Total Assets	$22,114,284	$118,506,271
Liabilities, Temporary Equity and Stockholders’ Equity
Current Liabilities:
Accounts payable	$8,431,583	$6,025,645
Accrued expenses and other current liabilities	1,754,533	2,053,559
Operating lease liability	8,656	108,756
Total Current Liabilities	10,194,772	8,187,960
Deferred tax liability	844,914	10,323,983
Total Liabilities	11,039,686	18,511,943
Commitments and contingencies (Note 8)	-	-
Redeemable common stock, subject to possible redemption, 0 and 1,880 shares outstanding as of December 31, 2023 and 2022, respectively	-	331,331
Stockholders’ Equity:
Preferred stock, $0.0001 par value, 1,000,000 shares authorized:
Series A preferred stock, 8,635 shares designated, 50 and 8,635 shares issued and outstanding as of December 31, 2023 and 2022, respectively	-	1
Series B preferred stock, 5,062 shares designated, 5,062 shares issued and outstanding as of December 31, 2023 and 2022, respectively	1	1
Common stock, $0.0001 par value, 250,000,000 shares authorized; 4,052,119 and 257,604 shares issued at December 31, 2023 and 2022, respectively, and 4,052,057 and 257,604 shares outstanding as of December 31, 2023 and 2022, respectively	405	26
Additional paid-in-capital	114,300,484	104,584,147
Accumulated deficit	(103,219,124)	(4,921,178)
Treasury stock, at cost, 62 and 0 shares at December 31, 2023 and 2022, respectively	(7,168)	-
Total Stockholders’ Equity	11,074,598	99,662,997
Total Liabilities, Temporary Equity and Stockholders’ Equity	$22,114,284	$118,506,271

The accompanying notes are an integral part of these consolidated financial statements.

CONSOLIDATED STATEMENT OF OPERATIONS

Successor · Predecessor
	For the Year Ended December 31, 2023	For the period December 13 through December 31, 2022	For the period January 1 through December 12, 2022
Operating Expenses:
Research and development	$3,207,573	$399,894	$5,407,859
General and administrative	11,213,201	420,174	7,605,205
Impairment of in-process research and development	81,438,426	-	-
Impairment of goodwill	11,895,033	-	-
Total Operating Expenses	107,754,233	820,068	13,013,064
Loss From Operations	(107,754,233)	(820,068)	(13,013,064)
Other (Income) Expense:
Interest (income) expense	(457)	-	427,542
Change in fair value of derivative liabilities	-	-	607,001
Pre-Tax Loss	(107,753,776)	(820,068)	(14,047,607)
Income tax benefit	9,455,830	745,050	-
Net Loss	(98,297,946)	(75,018)	(14,047,607)
Deemed dividend to preferred stockholders	(7,948,209)	-	(10,015,837)
Net Loss Attributable to Common Stockholders	$(106,246,155)	$(75,018)	$(24,063,444)
Net Loss Per Share
- Basic and Diluted	$(108.97)	$(0.29)	$(0.99)
Weighted Average Number of Common Shares Outstanding
- Basic and Diluted	975,035	257,604	24,194,270

The accompanying notes are an integral part of these condensed consolidated financial statements.

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.