180生命科学公司2025年季度报告

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), company”, and “emerging growth company” in Rule12b-2 of the Exchange Act. (unaudited)For the Six Months EndedJune 30, The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. NOTE 1 - BUSINESS ORGANIZATION AND NATURE OF OPERATIONS 180 Life Sciences Corp., formerly known as KBL Merger Corp. IV (“180LS”, or together with its subsidiaries, the“Company”), was a blank check company organized under the laws of the State of Delaware onSeptember 7, 2016. The Company wasformed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar businesscombination withoneor more businesses.180 Life Corp. (“180”, f/k/a 180 Life Sciences Corp. and CannBioRx Life Sciences Corp.) is a wholly-owned subsidiary ofthe Company and was incorporated in the State of Delaware on January 28, 2019. The Company is located in the UnitedStates(“U.S.”) and is a medical pharmaceutical company focused upon unmet medical needs in the areas of inflammatory diseases, fibrosis,and chronic pain by employing innovative research and, where appropriate, combination therapies, through 180’s three wholly-ownedsubsidiaries, 180Therapeutics L.P. (“180 LP”), CannBioRex Pharmaceuticals Corp. (“CBR Pharma”), and Katexco Pharmaceuticals which are Katexco Pharmaceuticals Corp. (“Katexco U.S.”) and CannBioRex Pharma Limited (“CBR Pharma U.K.”).The Company has been a clinical stage biotechnology company focused on the development of therapeutics for unmetmedical needs in chronic pain, inflammation, fibrosis, and other inflammatory diseases, where anti-TNF therapy will provide a clear ●fibrosis and anti-tumor necrosis factor (“TNF”); ●drugs which are derivatives of cannabidiol (“CBD”); and ●alpha 7 nicotinic acetylcholine receptor (“α7nAChR”).In November 2024, the biotechnology related to α7nAChR was returned to Stanford University and the Company is currentlyevaluating strategic options for the TNF and CBD programs, including but not limited to a sale or disposition, return of these assets to On September 29, 2024, the Company entered into an Asset Purchase Agreement (the “Purchase Agreement”) with ElrayResources, Inc. (“Elray”). Pursuant to the Purchase Agreement, Elray agreed to sell us certain source code and intellectual propertyrelating to a “back-end technology platform” which is a key component of creating an online blockchain casino (the “Purchased market, focusing initially only on the cryptocurrency market and in the future, potentially the traditional fiat currency wageringmarket. Initially focusing on B2C (business-to-consumer) online casinos, the Company also plans to expand into a B2B (business-to-business)model,offering a seamless blockchain-enabled technology platform for gaming operators worldwide.In addition, listing make the Company an attractive consolidation vehicle for the iGaming industry, and plans to work to identify potentialacquisitions (although no targets exist at present). NOTE 2 - GOING CONCERN AND MANAGEMENT’S PLANSThe Company has not generated any revenues and has incurred significant losses since inception. As of June 30, 2025, theCompany had an accumulated deficit of $145,619,180and a working capital deficit of $2,241,478, and for the six months ended June30, 2025, a net loss of $4,095,836and cash used in operating activities of $1,984,787. The Company expects to invest a significant successfully marketed.These condensed consolidated financial statements have been prepared on a going concern basis, which contemplates therealization of assets and the satisfaction of liabilities in the normal course of business. These matters raise substantial doubt about theCompany’s ability to continue as a going concern for a reasonable period of time, which is defined as within one year after the date NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies as set forth in the Company’s auditedconsolidated financial statements included in the Annual Report on Form 10-K for the year ended December31, 2024 underNote 3 - Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared on a goingconcern basis in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interimfinancial reporting and as required by RegulationS-X,Rule10-01.Accordingly, they do not include all of the information andfootnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (including those whichare normal and recur