ADDED
5 Note 1 Description of Business and Liquidity NeOnc Technologies, Inc.
At September 30, 2025, the Company had cash totaling $ 1,513,224 .
For the three and nine months ended September 30, 2025, the Company incurred a net loss of $ 8,615,920 and $ 46,622,106 , respectively, and has an accumulated deficit of $ 97,230,551 at September 30, 2025.
6 Note 2 Basis of Presentation and Summary of Significant Accounting Policies Basis of presentation The unaudited condensed consolidated financial statements contained herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC ).
At September 30, 2025 and December 31, 2024, the Company has money market funds in the amount of approximately $ 12,000 and $ 25,000 , respectively.
Revenue The Company recognized point-in-time revenue of $ 0 and $ 39,990 for the three and nine months ended September 30, 2025, and $ 0 and $ 63,000 for the three and nine months ended September 30, 2024, respectively, for the right to try its technology in compassion use cases where the Company has no further performance obligations.
For the nine months ended September 30, 2024, respectively, there were no potentially dilutive warrants outstanding and no potentially dilutive restricted stock units.
Reclassifications Certain reclassifications of previously reported amounts have been made to conform to the current year presentation.
Such reclassifications did not impact net income as previously reported.
As of September 30, 2025, the remaining outstanding accrued advisory fee totaled $ 3,675,569 recorded on the condensed consolidated balance within accrued advisory fee related party.
REMOVED
4 Note 1 Description of Business and Liquidity NeOnc Technologies, Inc.
For the three and six months ended June 30, 2025, the Company incurred a net loss of $ 5,680,170 and $ 38,006,186 , respectively, and has an accumulated deficit of $ 88,614,631 at June 30, 2025.
5 Note 2 Restatement of Previously Issued Financial Statements The Company has restated the previously issued unaudited consolidated financial statements as of and for the quarter ended March 31, 2025 (the Restatement ).
The Restatement corrects an error for an overstatement of amortization of stock based compensation during the three months ended March 31, 2025.
As previously reported in the Company s Current Report on Form 8-K filed on August 18, 2025, the management of the Company, after discussions with and among the Audit Committee of the Board of Directors concluded that the Company s unaudited consolidated financial statements as of and for quarter ended March 31, 2025 should no longer be relied upon and should be restated.
At June 30, 2025 and December 31, 2024, the Company has money market funds in the amount of approximately $ 80,000 and $ 25,000 , respectively.
Revenue The Company recognized point-in-time revenue of $ 0 and $ 39,990 for the three and six months ended June 30, 2025, and $ 20,000 and $ 63,000 for the three and six months ended June 30, 2024, respectively, for the sale/license of technology where the Company has no further performance obligations.
For the six months ended June 30, 2024, respectively, there were no potentially dilutive warrants outstanding and no potentially dilutive restricted stock units.
As of June 30, 2025, the remaining outstanding accrued advisory fee totaled $ 5,882,710 recorded on the condensed consolidated balance within accrued advisory fee related party.
The Company incurred $ 82,225 and $ 184,449 and $ 191,239 and $ 283,473 related to such services for the three and six months ended June 30, 2025 and 2024, respectively, of which $ 82,225 , $ 164,449 and $ 191,239 and $ 263,473 are recorded within research and development expenses and $ 0 , $ 20,000 and $ 0 and 20,000 are recorded within general administrative expenses on the condensed consolidated statements of operations.