Fri, Aug 16, 10:04 AM (326 days ago)
The 10-K/A amendment for Coeptis Therapeutics Holdings, Inc. for the fiscal year ended December 31, 2023, primarily addresses a reclassification of subscriptions receivable due to prior misclassification of note agreements as notes receivable, impacting the financial statements. The company reported a net loss of $21,266,537 for 2023, a decrease from the previous year's loss of $37,574,217, with total operating expenses reduced from $34,195,965 to $21,482,767. Cash reserves declined from $3,791,302 to $1,469,134. The company’s accumulated deficit increased to $87,356,260. Strategically, Coeptis focuses on developing cell therapies, particularly those targeting CD38-related cancers, through partnerships with Vy-Gen Bio, Inc. and Deverra Therapeutics, Inc. The firm anticipates increased operational costs as it expands its R&D efforts and explores additional financing options. Risks include ongoing losses, dependency on successful clinical trials, and maintaining compliance with Nasdaq listing requirements, especially as it faces potential delisting due to a low stock price. The company remains classified as an emerging growth entity, allowing for reduced disclosure requirements.