2024 Q3 Form 10-Q Financial Statement

#000175392624001423 Filed on August 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $727.2K
YoY Change 169.23%
% of Gross Profit
Research & Development $414.6K $12.96K $50.00K
YoY Change 744.48% -74.09% 87.97%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.048M $1.764M $777.2K
YoY Change 58.58% 126.98% 161.95%
Operating Profit -$2.048M -$1.764M -$777.2K
YoY Change 58.57% 126.99%
Interest Expense -$176.2K
YoY Change 371.12%
% of Operating Profit
Other Income/Expense, Net $353.7K -$7.533K -$176.2K
YoY Change -372.05% -95.72%
Pretax Income -$1.695M -$1.772M -$953.4K
YoY Change 19.2% 85.82% 185.36%
Income Tax
% Of Pretax Income
Net Earnings -$1.695M -$1.772M -$953.4K
YoY Change 19.2% 85.82% 185.36%
Net Earnings / Revenue
Basic Earnings Per Share -$0.29 -$0.31 -$0.95
Diluted Earnings Per Share -$0.17
COMMON SHARES
Basic Shares Outstanding 5.767M shares 5.878M shares 1.003M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $82.00K
YoY Change 4000.0%
Cash & Equivalents $1.255M $2.405M $81.89K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $94.59K $158.1K
Receivables
Other Receivables
Total Short-Term Assets $2.140M $2.604M $82.00K
YoY Change 9203.86% 3075.12% 4000.0%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $2.140M $2.604M $82.00K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $2.140M $2.604M $82.00K
YoY Change 9203.86% 3075.12% 4000.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.547M
YoY Change 42.97%
Accrued Expenses $308.00 $363.4K $452.0K
YoY Change -99.95% -19.6% 1002.44%
Deferred Revenue
YoY Change
Short-Term Debt $983.0K
YoY Change 173.06%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.567M $2.786M $4.983M
YoY Change -39.81% -44.09% 72.9%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.567M $2.786M $4.983M
Total Long-Term Liabilities $0.00
Total Liabilities $3.567M $2.786M $4.983M
YoY Change -39.81% -44.09% 15.29%
SHAREHOLDERS EQUITY
Retained Earnings -$19.55M -$17.85M
YoY Change
Common Stock $583.00 $584.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.427M -$182.5K -$4.901M
YoY Change
Total Liabilities & Shareholders Equity $2.140M $2.604M $82.00K
YoY Change 9203.86% 3075.12% 4000.0%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$1.695M -$1.772M -$953.4K
YoY Change 19.2% 85.82% 185.36%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$193.6K
YoY Change -33.56%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 226.9K
YoY Change -22.77%
NET CHANGE
Cash From Operating Activities -193.6K
Cash From Investing Activities
Cash From Financing Activities 226.9K
Net Change In Cash 33.30K
YoY Change 1287.5%
FREE CASH FLOW
Cash From Operating Activities -$193.6K
Capital Expenditures
Free Cash Flow
YoY Change

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1455416 usd
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
90157 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
131868 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
303651 usd
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-214757 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5972000 usd
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
91512 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7253015 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
393808 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
2308707 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
26819 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
96391 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
55074 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2405098 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
81893 usd
chro Debt Discount From Shares Issued On Extension Of Bridge Loan
DebtDiscountFromSharesIssuedOnExtensionOfBridgeLoan
447779 usd
chro Debt Discount From Shares Issued On Extension Of Bridge Loan
DebtDiscountFromSharesIssuedOnExtensionOfBridgeLoan
126000 usd
chro Conversion Of Notes
ConversionOfNotes
1362821 usd
chro Transfer Of Liabilities To Chromocell Corp For Preferred Stock
TransferOfLiabilitiesToChromocellCorpForPreferredStock
2153362 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_805_eus-gaap--NatureOfOperations_zrQKt5VL6Pyd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>NOTE 1 – <span id="xdx_824_zsIHwYnK7NJ3">ORGANIZATION AND NATURE OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><i>Company Background </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Chromocell Therapeutics Corporation (“Chromocell” or the “Company”) was incorporated in the State of Delaware on March 19, 2021. On August 10, 2022, the Company entered into that certain Contribution Agreement (the “Contribution Agreement”) with Chromocell Corporation, a Delaware corporation (“Chromocell Holdings”), pursuant to which, effective July 12, 2022 (the “Contribution Date”), Chromocell Holdings contributed all assets and liabilities related to Chromocell Holdings’ historical therapeutic business, including all patents, pre-clinical and Phase I study results and data, and trade secrets related to the CC8464 compound to the Company. (See Note 4)</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company a clinical-stage biotech company focused on developing and commercializing new therapeutics to alleviate pain. The Company’s clinical focus is to selectively target the sodium ion-channel known as “NaV1.7”, which has been genetically validated as a pain receptor in human physiology. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel in a way to prevent the transmission of pain perception to the central nervous system (“CNS”). The Company’s goal is to develop a novel and proprietary class of NaV blockers that target the body’s peripheral nervous system.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has formally launched two programs developing pain treatment therapeutics, both based on the same proprietary molecule, as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Neuropathic Pain</span>: CC8464 is being developed to address certain types of neuropathic pain. The chemical characteristics of CC8464 restrict its entry into the CNS and limit its effect to the NaV1.7 receptors in the peripheral nervous system, which consists of the nerves outside the brain and spinal cord. Activation of other receptors in the CNS can result in side effects, including addiction and other centrally mediated adverse effects. Since CC8464 is designed to not penetrate the CNS it is highly unlikely to produce CNS mediated side effects including euphoria or addiction. Based on its characteristics, preclinical studies (described below) and the Phase 1 studies the Company has completed to date, the Company believes that CC8464, if approved, could become an attractive option for both patients and physicians as a treatment for moderate-to-severe pain in EM and iSFN.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Eye Pain</span>: Based on the same proprietary molecule as CC8464, the Company’s newly launched program, titled CT2000, is for the potential treatment of both acute and chronic eye pain. NaV1.7 receptor is present on the cornea, making it a viable biological target for treating eye pain. Eye pain may occur with various conditions, including severe dry eye disease, trauma and surgery. Existing therapies for eye pain (such as steroids, topical non-steroidal anti-inflammatory agents, lubricants, local anesthetics) are limited in their effectiveness and/or limited in the duration that they may be prescribed because of safety issues. The Company intends to explore the viability of developing CT2000 as a topical agent for the relief of eye pain. A potential advantage of this approach is that topical administration of CT2000 is unlikely to lead to any hypersensitivity or skin reactions, like what was noted with systemic administration of CC8464, because the systemic absorption from a topical administration would be extremely limited. The Company has commenced development of a topical ophthalmic formulation of CT2000 that would initially be evaluated for ophthalmic toxicology and then followed by a POC trial in patients. The Company expects the trials for this ophthalmic formulation of CT2000 to start in 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company may further expand its pipeline with other internal or external compounds in the future, but all other internally discovered compounds are pre-clinical and no commercial discussions about in-licensing have been initiated to date, other than as disclosed in this quarterly report with respect to the licensing of the certain spray formulations from Benuvia Operations LLC (“Benuvia”), entered into on December 23, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The Company has a limited operating history and has not generated revenue from its intended operations. The Company’s business and operations are sensitive to general business and economic conditions in the U.S. and worldwide along with local, state, and federal governmental policy decisions. A host of factors beyond the Company’s control could cause fluctuations in these conditions. Adverse conditions may include changes in the biotechnology regulatory environment, technological advances that render the Company’s technologies obsolete, availability of resources for clinical trials, acceptance of technologies into the medical community, and competition from larger, more well-funded companies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">On February 21, 2024, the Company completed the initial public offering of its Common Stock (the “IPO”) and issued <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_uShares_c20240219__20240221__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zSBzaOLzIHH5" title="Offering shares of common stock">1,100,000</span> shares of its Common Stock at a price of $<span id="xdx_903_eus-gaap--SaleOfStockPricePerShare_iI_pid_uUSDPShares_c20240221__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zRmaJOIQForg" title="Common stock, per share">6.00</span> per share. The aggregate net proceeds from the IPO were approximately $<span id="xdx_908_eus-gaap--ProceedsFromDebtNetOfIssuanceCosts_dm_c20240219__20240221__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zSYH6xtezTR" title="Net proceeds">5.7 million</span> after deducting $<span id="xdx_90A_eus-gaap--OtherUnderwritingExpense_dm_c20240219__20240221__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zTKutCEN67vg" title="Offering expenses">0.9 million</span> in underwriting discounts and commissions and offering expenses.</span></p>
CY2024Q2 chro Working Capital Deficit
WorkingCapitalDeficit
200000 usd
CY2024Q2 us-gaap Cash
Cash
2400000 usd
CY2024Q2 chro Working Capital Deficit
WorkingCapitalDeficit
200000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
100000 usd
CY2023Q4 chro Working Capital Deficit
WorkingCapitalDeficit
6400000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_zw7FVosvc123" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><i><span id="xdx_866_zwhfVX9nwaF7">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="background-color: white">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates made by management include, but are not limited to, estimating the valuation of deferred income taxes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
chro Disaggregation Of R And D Expenses
DisaggregationOfRAndDExpenses
<p id="xdx_897_ecustom--DisaggregationOfRAndDExpenses_z9jim6Ibpmff" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><span><span id="xdx_8B3_zWaCJ2MPgcrc">Below is a disaggregation of R&amp;D expenses:</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">For the Three Months Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">For the Three Months Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">For the Six Months Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">For the Six Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%">Consultant</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ResearchAndDevelopmentExpense_c20240401__20240630__srt--ProductOrServiceAxis__custom--ConsultantMember_zzkVFWxoGClj" style="width: 10%; text-align: right" title="Research and development expense">107,357</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ResearchAndDevelopmentExpense_c20230401__20230630__srt--ProductOrServiceAxis__custom--ConsultantMember_za5KYtA92g9e" style="width: 10%; text-align: right" title="Research and development expense">16,400</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--ResearchAndDevelopmentExpense_c20240101__20240630__srt--ProductOrServiceAxis__custom--ConsultantMember_z2NPwTbU3qP5" style="width: 10%; text-align: right" title="Research and development expense">137,390</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--ResearchAndDevelopmentExpense_c20230101__20230630__srt--ProductOrServiceAxis__custom--ConsultantMember_zUsqqCPLf5Tj" style="width: 10%; text-align: right" title="Research and development expense">23,300</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lab Materials</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ResearchAndDevelopmentExpense_c20240401__20240630__srt--ProductOrServiceAxis__custom--LabMaterialsMember_z7lsemiEUxci" style="text-align: right" title="Research and development expense">1,452</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ResearchAndDevelopmentExpense_c20230401__20230630__srt--ProductOrServiceAxis__custom--LabMaterialsMember_zOGgoNX7lsIh" style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0616">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ResearchAndDevelopmentExpense_c20240101__20240630__srt--ProductOrServiceAxis__custom--LabMaterialsMember_z2hTgPOjkPma" style="text-align: right">1,452</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ResearchAndDevelopmentExpense_c20230101__20230630__srt--ProductOrServiceAxis__custom--LabMaterialsMember_zNsd49pWO1h8" style="text-align: right" title="Research and development expense"><span style="-sec-ix-hidden: xdx2ixbrl0619">—</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Lab Cell Storage</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ResearchAndDevelopmentExpense_c20240401__20240630__srt--ProductOrServiceAxis__custom--LabCellStorageMember_zD5n4k0h7117" style="text-align: right" title="Research and development expense">27,272</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ResearchAndDevelopmentExpense_c20230401__20230630__srt--ProductOrServiceAxis__custom--LabCellStorageMember_zbMcdXcv9HOi" style="text-align: right">7,653</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ResearchAndDevelopmentExpense_c20240101__20240630__srt--ProductOrServiceAxis__custom--LabCellStorageMember_zleDqEslNvp9" style="text-align: right">51,398</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ResearchAndDevelopmentExpense_c20230101__20230630__srt--ProductOrServiceAxis__custom--LabCellStorageMember_zsoQm1wUl2t" style="text-align: right" title="Research and development expense">17,753</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Chemistry Manufacturing and Controls (“CMC”)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ResearchAndDevelopmentExpense_iN_di_c20240401__20240630__srt--ProductOrServiceAxis__custom--ChemistryManufacturingAndControlsMember_zktuBuhPVnul" style="text-align: right" title="Research and development expense">(133,780</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ResearchAndDevelopmentExpense_c20230401__20230630__srt--ProductOrServiceAxis__custom--ChemistryManufacturingAndControlsMember_zDVSLXH1pwcd" style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0628">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ResearchAndDevelopmentExpense_c20240101__20240630__srt--ProductOrServiceAxis__custom--ChemistryManufacturingAndControlsMember_zkjMDsBzkWn5" style="text-align: right">169,617</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ResearchAndDevelopmentExpense_c20230101__20230630__srt--ProductOrServiceAxis__custom--ChemistryManufacturingAndControlsMember_z9prSKDBTwk" style="text-align: right" title="Research and development expense"><span style="-sec-ix-hidden: xdx2ixbrl0631">—</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">IP Services</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ResearchAndDevelopmentExpense_c20240401__20240630__srt--ProductOrServiceAxis__custom--IPServicesMember_ztqOiUbn1Nr9" style="border-bottom: Black 1pt solid; text-align: right" title="Research and development expense">10,654</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ResearchAndDevelopmentExpense_c20230401__20230630__srt--ProductOrServiceAxis__custom--IPServicesMember_zdcuVgrZzXM8" style="border-bottom: Black 1pt solid; text-align: right">35,402</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ResearchAndDevelopmentExpense_c20240101__20240630__srt--ProductOrServiceAxis__custom--IPServicesMember_zzZj4Te1Az9b" style="border-bottom: Black 1pt solid; text-align: right">119,704</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--ResearchAndDevelopmentExpense_c20230101__20230630__srt--ProductOrServiceAxis__custom--IPServicesMember_zD6izYiOBNQ6" style="border-bottom: Black 1pt solid; text-align: right" title="Research and development expense">195,019</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_982_eus-gaap--ResearchAndDevelopmentExpense_c20240401__20240630_zGaB7oO1Adod" style="border-bottom: Black 1pt solid; text-align: right" title="Research and development expense">12,955</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_986_eus-gaap--ResearchAndDevelopmentExpense_c20230401__20230630_zZYtmESaZJG8" style="border-bottom: Black 1pt solid; text-align: right" title="Research and development expense">49,955</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ResearchAndDevelopmentExpense_c20240101__20240630_zUNgCTLpoCmj" style="border-bottom: Black 2.5pt double; text-align: right" title="Research and development expense">479,561</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ResearchAndDevelopmentExpense_c20230101__20230630_z73fl2lZRk2h" style="border-bottom: Black 2.5pt double; text-align: right" title="Research and development expense">236,072</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
CY2024Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12955 usd
CY2023Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
49955 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
479561 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
236072 usd
CY2022Q4 chro Director Note Description
DirectorNoteDescription
the Company and Mr. Todd Davis, one of the Company’s directors, entered into the Director Note for $175,000. The Director Note has an original issuance discount of $75,000, and matures on December 31, 2023, or, if earlier to occur, upon the closing of an underwritten offering of securities resulting in at least $15 million in gross proceeds. On December 28, 2023, the Company entered into an amendment to the Director Note, which extended the maturity date to February 29, 2024. On February 21, 2024, the principal and accrued interest on this note converted into 29,167 shares of the Company’s Common Stock.
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
75000 usd
CY2022Q4 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
15000000 usd
CY2024Q2 chro Due To Receivable
DueToReceivable
40400 usd
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
131868 usd
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Fair Value Disclosure
AccountsPayableAndAccruedLiabilitiesFairValueDisclosure
895 usd
CY2022Q1 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
450000 usd
CY2022Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
150000 usd
CY2022Q1 us-gaap Investment Interest Rate
InvestmentInterestRate
0.50 pure
CY2022Q1 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2023-02-03
us-gaap Interest Expense Debt
InterestExpenseDebt
14370 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
135630 usd
CY2023Q1 us-gaap Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
the Investor Note was amended. The maturity date was extended from its original due date of February 3, 2023 to May 15, 2023, in return for the Company agreeing to pay 2% per month in accrued interest and the third party agreeing to settle its outstanding debt, including accrued interests in shares of Common Stock at the IPO.
CY2023Q2 us-gaap Debt Conversion Description
DebtConversionDescription
(ii) in consideration therefor, issued to such holder 50,000 shares of Common Stock. The Company determined that this extension qualified as a modification of the Investor Note rather than an extinguishment. The Company recorded an expense of $126,000 from the issuance of the 556 shares of Common Stock based on a share price of $22.68. The $22.68 share price was based on a third-party valuation of the Company’s Common Stock, with certain adjustments as set forth below in detail in Note 7 – Stockholders’ Equity.
CY2024Q1 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
the Company effected a 9-for-1 reverse stock split. All share and per share amounts have been retrospectively adjusted for the reverse stock split.
CY2023Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
1203704 shares
us-gaap Sale Of Stock Description Of Transaction
SaleOfStockDescriptionOfTransaction
(ii) in consideration therefor, the Company would issue upon close of the IPO, and regardless of whether the Company would have issued any shares of Series B Preferred Stock, an aggregate of 4,167 shares (such shares, the “Standby Shares”) of Common Stock to the Standby Investor (such agreement, the “Series B Securities Purchase Agreement”). In addition, pursuant to the Series B Securities Purchase Agreement, the Company was required to file a registration statement within 180 calendar days after consummation of the IPO, providing for the resale of the Standby Shares and shares of Common Stock issuable upon conversion of the Series B Preferred Stock, if issued.
CY2024Q2 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
50000 shares
CY2024Q2 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
7500 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
6462 shares
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
44800000 usd
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1187302 shares
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
37.71
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
44800000 usd
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1187302 shares
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
37.71
CY2022Q3 chro Illiquidity Discount
IlliquidityDiscount
0.20 pure
CY2022Q3 chro Minority Discount
MinorityDiscount
0.20 pure
CY2022Q3 chro Fair Value Of Common Stock Per Share
FairValueOfCommonStockPerShare
22.68
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
197560 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
22.68
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
634000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.30
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
11111 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
22.68
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
820449 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.159
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
116612 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
22.68
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
50002 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
22.68
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
158670 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
22.68
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
11111 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
22.68
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
197560 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
22.68
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
34724 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
22.68
CY2023Q4 chro Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsNonvestedNumberOfShares
113429 shares
CY2023Q4 chro Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsNonvestedWeightedAverageGrantDateFairValue
22.68
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
634000 shares
chro Share Based Compensation Arrangement By Share Based Payment Award Warrants Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsGrantsInPeriodWeightedAverageGrantDateFairValue
1.30
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
43592 shares
chro Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsVestedWeightedAverageGrantDateFairValue
22.68
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
703837 shares
CY2024Q2 chro Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsNonvestedWeightedAverageGrantDateFairValue
3.42
CY2022Q4 chro Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsNonvestedNumberOfShares
45556 shares
CY2022Q4 chro Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsNonvestedWeightedAverageGrantDateFairValue
22.68
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
158670 shares
chro Share Based Compensation Arrangement By Share Based Payment Award Warrants Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsGrantsInPeriodWeightedAverageGrantDateFairValue
22.68
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
30232 shares
chro Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsVestedWeightedAverageGrantDateFairValue
22.68
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
173994 shares
CY2023Q2 chro Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsNonvestedWeightedAverageGrantDateFairValue
22.68
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
634000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
158670 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue
1.30
chro Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue1
22.68
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
12680 usd
CY2024Q2 us-gaap Adjustment For Amortization
AdjustmentForAmortization
366503 usd
CY2023Q2 us-gaap Adjustment For Amortization
AdjustmentForAmortization
327338 usd
chro General And Administrative Expenses
GeneralAndAdministrativeExpenses
659055 usd
chro General And Administrative Expenses
GeneralAndAdministrativeExpenses
599559 usd
us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
2057817 usd
chro Share Based Compensation Arrangement By Share Based Payment Award Warrants Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsGrantsInPeriodGross
55000 shares
chro Share Based Compensation Arrangements By Share Based Payment Award Warrants Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardWarrantsGrantsInPeriodWeightedAverageExercisePrice
7.50
CY2024Q2 chro Share Based Compensation Arrangement By Share Based Payment Award Warrants Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsOutstandingNumber
55000 shares
CY2024Q2 chro Share Based Compensation Arrangement By Share Based Payment Award Warrants Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsOutstandingWeightedAverageExercisePrice
7.50
CY2024Q2 chro Share Based Compensation Arrangement By Share Based Payment Award Warrants Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsExercisableNumber
55000 shares
CY2024Q2 chro Share Based Compensation Arrangement By Share Based Payment Award Warrants Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsExercisableWeightedAverageExercisePrice
7.50
chro Share Based Compensation Arrangement By Share Based Payment Award Warrants Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsGrantsInPeriodGross
55000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.50
chro Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsVestedNumberOfShares
55000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
7.50
chro Share Based Compensation Arrangement By Share Based Payment Award Warrants Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsGrantsInPeriod
55000 shares
chro Share Based Compensation Arrangement By Share Based Payment Award Warrants Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsGrantsInPeriod
0 shares
chro Share Based Compensation Arrangement By Share Based Payment Award Warrants Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsGrantsInPeriodGrantDateIntrinsicValue
7.50
chro Share Based Compensation Arrangement By Share Based Payment Award Warrants Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsExercisesInPeriodTotalIntrinsicValue
0 usd
CY2024Q1 us-gaap Class Of Warrant Or Right Expense Or Revenue Recognized
ClassOfWarrantOrRightExpenseOrRevenueRecognized
the Company issued warrants to purchase up to 55,000 shares of Common Stock to the representative of the underwriters of the IPO (the “Representative”). These warrants have an exercise price of $7.50, have a cashless exercise provision, are exercisable 180 days following the commencement of sales of the shares of Common Stock of the IPO and have an expiration date of February 21, 2029
chro Share Based Compensation Arrangement By Share Based Payment Award Rs Us Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardRSUsGrantsInPeriodGross
257993 shares
chro Share Based Compensation Arrangement By Share Based Payment Award Rs Us Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardRSUsGrantsInPeriodWeightedAverageGrantDateFairValue
1.30
CY2024Q2 chro Sharebased Compensation Arrangement By Sharebased Payment Award Rs Us Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardRSUsNonvestedNumberOfShares
257993 shares
CY2024Q1 chro Sharebased Compensation Arrangement By Sharebased Payment Award Rs Us Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardRSUsNonvestedWeightedAverageGrantDateFairValue
1.30
chro Sharebased Compensation Arrangement By Sharebased Payment Rs Us Warrants Nonvested Period
SharebasedCompensationArrangementBySharebasedPaymentRSUsWarrantsNonvestedPeriod
257993 shares
chro Sharebased Compensation Arrangement By Sharebased Payment Award Rs Us Nonvested Period
SharebasedCompensationArrangementBySharebasedPaymentAwardRSUsNonvestedPeriod
0 shares
chro Share Based Compensation Arrangement By Share Based Payment Award Rs Us Grants Non Vested In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardRSUsGrantsNonVestedInPeriodGrantDateIntrinsicValue
1.30
CY2024Q2 chro Adjustment For Amortization1
AdjustmentForAmortization1
13975 usd
CY2023Q2 chro Adjustment For Amortization1
AdjustmentForAmortization1
0 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
13975 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
0 usd
CY2024Q1 us-gaap Loss Contingency Damages Paid Value
LossContingencyDamagesPaidValue
479169 usd
CY2024Q1 us-gaap Loss Contingency Damages Paid Value
LossContingencyDamagesPaidValue
479169 usd
CY2024Q2 us-gaap Other Expenses
OtherExpenses
363091 usd
CY2024Q2 us-gaap Loss Contingency Allegations
LossContingencyAllegations
pay an initial lump-sum payment of $10,000 toward outstanding rent and provide a copy of its Registration Statement on Form S-1 for the Company’s IPO (the “Registration Statement”) and (iii) make a final one-time lump sum payment to the EDA of $510,701 to satisfy Chromocell Holdings’ outstanding rent and additional rent obligations within 90 days of Chromocell Holdings’ executing the Settlement Agreement or within 15 days of Chromocell Holdings’ IPO, whichever was the first to occur. The complaint alleges Chromocell Holdings’ breach of each of these provisions of the Settlement Agreement and seeks a judgment for the entire amount allegedly due and owing as of September 12, 2023 ($510,701), compensatory damages, pre-judgment interest, attorney’s fees, costs of suit and such other and further relief as the court deems just and proper

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