Full Press Release Details
Petros Pharmaceuticals, Inc.
Consolidated Balance Sheets
| Proforma Adjustments | Proforma as adjusted | |||||||||||||||||||||||||||||||
| Total Consolidated | PTPI | Discontinued Ops | for Proforma Adjustments | |||||||||||||||||||||||||||||
| March 31, | March 31, | March 31, | ABC Gain on | Gain On | Redemption | Redemption | March 31, | |||||||||||||||||||||||||
| 2025 | 2025 | 2025 | Deconsolidation | Vivus | of | of | 2025 | |||||||||||||||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | of Subsidiaries | Settlement | Warrants | Preferred Shares | (Unaudited) | |||||||||||||||||||||||||
| Assets | ||||||||||||||||||||||||||||||||
| Current assets: | ||||||||||||||||||||||||||||||||
| Cash | $ | 10,756,885 | $ | 8,931,054 | $ | 1,825,831 | $ | (1,825,831 | ) | $ | 8,931,054 | |||||||||||||||||||||
| Accounts receivable, net | 443,555 | - | 443,555 | (443,555 | ) | - | ||||||||||||||||||||||||||
| Inventories | 1,302,484 | - | 1,302,484 | (498,961 | ) | (803,523 | ) | - | ||||||||||||||||||||||||
| Prepaid inventory | 1,649,212 | - | 1,649,212 | (1,649,212 | ) | - | ||||||||||||||||||||||||||
| Prepaid expenses and other current assets | 313,510 | 53,405 | 260,105 | (260,105 | ) | 53,405 | ||||||||||||||||||||||||||
| Total current assets | 14,465,646 | 8,984,459 | 5,481,187 | (3,028,452 | ) | (2,452,735 | ) | - | - | 8,984,459 | ||||||||||||||||||||||
| Fixed assets, net | 21,719 | - | 21,719 | (21,719 | ) | - | ||||||||||||||||||||||||||
| Intangible assets, net | 3,016,068 | - | 3,016,068 | (3,016,068 | ) | - | ||||||||||||||||||||||||||
| Right of use assets | 101,933 | - | 101,933 | (101,933 | ) | - | ||||||||||||||||||||||||||
| Total assets | $ | 17,605,366 | $ | 8,984,459 | $ | 8,620,907 | $ | (6,168,172 | ) | $ | (2,452,735 | ) | $ | - | $ | - | $ | 8,984,459 | ||||||||||||||
| Liabilities and Stockholders' Equity | ||||||||||||||||||||||||||||||||
| Current liabilities: | ||||||||||||||||||||||||||||||||
| Current portion of promissory note | $ | 7,248,635 | $ | - | $ | 7,248,635 | $ | - | $ | (7,248,635 | ) | $ | - | |||||||||||||||||||
| Accounts payable | 2,459,101 | 756,703 | 1,702,398 | (1,702,398 | ) | 756,703 | ||||||||||||||||||||||||||
| Accrued expenses | 7,214,927 | 199,703 | 7,015,224 | (7,015,224 | ) | 199,703 | ||||||||||||||||||||||||||
| Accrued Series A Convertible Preferred payments payable | 1,846,142 | 1,846,142 | - | (1,846,142 | ) | - | ||||||||||||||||||||||||||
| Warrant Liability | 8,292,000 | 8,292,000 | - | (8,267,124 | ) | - | 24,876 | |||||||||||||||||||||||||
| Other current liabilities | 71,179 | - | 71,179 | (71,179 | ) | - | ||||||||||||||||||||||||||
| Total current liabilities | 27,131,984 | 11,094,548 | 16,037,436 | (8,788,801 | ) | (7,248,635 | ) | (8,267,124 | ) | (1,846,142 | ) | 981,282 | ||||||||||||||||||||
| Other long-term liabilities | 57,590 | - | 57,590 | (57,590 | ) | - | ||||||||||||||||||||||||||
| Total liabilities | 27,189,574 | 11,094,548 | 16,095,026 | (8,846,391 | ) | (7,248,635 | ) | (8,267,124 | ) | (1,846,142 | ) | 981,282 | ||||||||||||||||||||
| Stockholders' Equity: | ||||||||||||||||||||||||||||||||
| Common stock (par value $0.0001 per share, 250,000,000 and 250,000,000 shares authorized at March 31, 2025, and December 31, 2024, respectively; 2,052,762 and 421,124 shares issued and outstanding as of March 31, 2025, and December 31, 2024, respectively) | 2,527 | 2,527 | - | 2,527 | ||||||||||||||||||||||||||||
| Additional paid-in capital | 105,881,658 | 105,881,658 | - | 8,267,124 | 1,846,142 | 115,994,924 | ||||||||||||||||||||||||||
| Accumulated deficit | (115,468,393 | ) | (107,994,274 | ) | (7,474,119 | ) | 2,678,220 | 4,795,900 | (107,994,273 | ) | ||||||||||||||||||||||
| Total Stockholders' Equity | (9,584,208 | ) | (2,110,089 | ) | (7,474,119 | ) | 2,678,220 | 4,795,900 | 8,267,124 | 1,846,142 | 8,003,178 | |||||||||||||||||||||
| Total Liabilities and Stockholders' Equity | $ | 17,605,366 | $ | 8,984,459 | $ | 8,620,907 | $ | (6,168,172 | ) | $ | (2,452,735 | ) | $ | - | $ | - | $ | 8,984,459 |