Z Squared Inc.

Listed Company

ZSQRCIK 0001759186NasdaqNon-AcceleratedSmaller ReportingFinance ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.36M

Net Income

$-11.92M

Total Assets

$16.15M

Equity

$13.56M

Shares Out

6.22M

Op. Cash Flow

$-8.60M

Business

Coeptis Therapeutics Holdings, Inc. is a holding company that develops cell and gene therapies and related diagnostics through its operating subsidiaries. It advances product candidates and platforms including CD38-GEAR-NK (an autologous gene-edited NK cell therapy), a CD38 in vitro diagnostic, the SNAP-CAR universal CAR-T/NK platform, unmodified NK cell programs and a licensed stem cell expansion platform. Its key business divisions include its biopharmaceutical research and development subsidiaries (SNAP Biosciences, GEAR Therapeutics and Coeptis operating subsidiaries) and collaborative licensing arrangements. The company targets global pharmaceutical markets including the United States, major European countries, China and Japan and relies on strategic partnerships for development, commercialization and distribution.

Summary from filing dated 2025-03-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total sales	1	0	0	0	75,000
Cost of goods	180,625	0	0	0	0
Gross profit	1	0	0	0	75,000
Research and development expense	1	2	7	20,887	0
Salary expense	2	2	1	—	—
Amortization expense	1	1	—	—	—
Professional services expense	8	3	11	31	—
Stock based compensation expense	1	1	—	—	—
General and administrative expenses	1	945,641	—	—	—
Selling and marketing expense	105,000	0	12,710	8,331	2,918
Total cost of operations	14	10	21	34	14
LOSS FROM OPERATIONS	−13	−10	−21	−34	−14
Interest expense	−96,744	−246,116	−107,685	—	—
Interest income	116,495	234,742	—	—	—
Amortization of debt discount	−545,635	−216,189	—	—	—
Gain on forfeiture of customer deposit	115,000	0	—	—	—
Other income (expense), net	7,004	−16,444	−220,477	98,701	—
Unrealized gain on marketable securities	76,596	0	—	—	—
Unrealized loss on investments	−163,500	0	—	—	—
Loss on write down of assets	0	−37,257	0	—	—
Gain (loss) on extinguishment of debt	159,035	−200,000	—	—	—
Change in fair value of derivative liabilities	1	−341,660	567,750	—	—
TOTAL OTHER INCOME (EXPENSE), net	766,306	−822,924	224,588	−3	596,653
LOSS BEFORE INCOME TAXES	−12	−11	−21	−38	−13
PROVISION FOR INCOME TAXES (BENEFIT)	0	0	0	0	0
NET LOSS	−12	−11	—	—	—
NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS	−360,177	−196,960	0	—	—
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	−12	−11	−21	−38	−13
Loss per share, basic	−2.81	−5.56	−16.56	−2.63	−1.23
Loss per share, fully diluted	−2.81	−5.56	−16.56	−2.63	−1.23
Weighted average number of common shares outstanding, basic	4	2	1	14	11
Weighted average number of common shares outstanding, diluted	4	2	1	14	11

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	6	532,885	1	—	—
Marketable securities	676,596	0	—	—	—
Interest receivable	7,348	0	38,978	—	—
Prepaid assets	991,903	518,407	241,601	142,356	0
TOTAL CURRENT ASSETS	7	1	2	4	2
Furniture and fixtures, net	9,873	10,460	11,306	12,542	13,926
Investments	8	6	0	—	—
Intangible assets, net	361,250	541,875	—	—	—
Co-development rights, net	554,167	2	—	—	—
Right of use asset, net of accumulated amortization	18,399	59,783	97,571	58,914	17,925
Total other assets	9	8	3	4	5
TOTAL ASSETS	16	9	5	8	7
Accounts payable	888,755	1	1	99,021	134,092
Accrued expenses	41,054	736,884	555,950	181,998	199,126
Convertible notes payable, net of debt discount of $0 and $435,635	0	1	875,000	—	—
Convertible notes payable, in default	100,000	100,000	100,000	—	—
Right of use liability, current portion	18,875	42,305	38,047	41,618	14,724
Customer deposit	599,455	0	—	—	—
Derivative liability	0	1	0	—	—
Other current liabilities	120,000	235,000	0	—	—
TOTAL CURRENT LIABILITIES	2	5	3	2	3
SBA loan payable	150,000	150,000	150,000	150,000	2
Derivative liability warrants	167,625	359,250	557,250	1	0
Right of use liability, non-current portion	0	18,875	61,179	14,723	0
TOTAL LONG TERM LIABILITIES	317,625	528,125	768,429	1	2
TOTAL LIABILITIES	2	5	4	3	4
Common stock, $0.0001 par value, 150,000,000 shares authorized, 5,746,948 and 2,116,191 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	575	212	179	1,957	1,196
Additional paid-in capital	127	103	92	71	30
Common stock subscribed	0	541,875	0	—	—
Subscription receivable	−4	−2	−4	—	—
Accumulated deficit	−110	−98	−87	−66	−28
TOTAL STOCKHOLDERS' EQUITY - CONTROLLING INTERESTS	14	3	813,964	4	2
TOTAL STOCKHOLDERS' EQUITY - NONCONTROLLING INTERESTS	506,163	485,102	0	—	—
TOTAL STOCKHOLDERS' EQUITY	14	4	813,963	4	—
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	16	9	5	8	7

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	1	1	1	1	447,413
Right of use asset amortization	41,385	37,788	—	—	—
Non-cash revenue	−1	0	—	—	—
Stock based compensation	1	1	477,503	—	—
Shares issued for non-employee services	4	1	4	5	3
Warrants issued for services	824,295	8,150	3	24	5
Change in fair value of derivative liability	−906,430	539,660	—	—	—
Change in fair value of derivative liability warrants	−191,625	−198,000	—	—	—
Loss on shares issued for conversion of debt	0	77,250	0	—	—
(Gain) loss on extinguishment of debt	−159,035	200,000	—	—	—
Forgiveness of interest	0	37,257	−38,978	0	—
Interest receivable	−7,348	−234,742	−38,978	—	—
Prepaid assets	−473,497	−118,472	90,755	—	43,482
Accounts payable	−381,012	−149,935	1	−35,071	—
Accrued expenses	−440,889	180,934	376,878	−17,128	−424,020
Right of use liability	−42,306	−38,047	−30,324	628	−1,317
Other current liabilities	−115,000	235,000	0	—	—
NET CASH USED IN OPERATING ACTIVITIES	−9	−7	−7	−4	−4
NET CASH USED IN INVESTING ACTIVITIES	0	0	0	0	−2
Proceeds from notes payable	990,000	2	650,000	0	77,595
Repayment of notes payable	−218,750	−650,969	—	—	—
Shares issued for SEPA	3	0	—	—	—
Shares issued for cash	5	100,000	500,000	3	10
Warrants issued for cash	0	500,000	200,000	0	—
Pre-funded warrants exercise	900	0	—	—	—
Preferred stock offering	5	4	—	—	—
NET CASH PROVIDED BY FINANCING ACTIVITIES	14	6	5	5	8
NET INCREASE (DECREASE) IN CASH	5	−936,249	−2	2	2
Interest paid	8,772	8,772	0	0	0
Taxes paid	0	0	0	0	0
Subscriptions receivable	4	2	—	—	—
Shares issued for the conversion of debt	3	951,684	—	—	—
Shares issued for investment	1	0	—	—	—

Filings

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