Alpha Cognition Inc.
For the period ended Dec 31, 2025. Filed Mar 31, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 31, 2026
ACOG$8.56-0.7%Stored close · as of Nov 12, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
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**ALPHA COGNITION INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
| For the Year Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows used in operating activities | ||
| Net loss | $(20,669,875) | $(14,788,727) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 58,572 | 81,220 |
| Accrued expenditures for government grant | 53,051 | (17,515) |
| Accrued interest | - | 65,996 |
| Accrued interest income, related party | - | 2,550 |
| Loss (gain) on derivative liabilities and conversion of convertible debt | (88,155) | 3,164,707 |
| Change in fair value of bonus rights liability | (55,602) | 18,658 |
| Non-cash debt issuance costs | - | 459,360 |
| Provision for loan losses | - | 55,000 |
| Impairment of intangible assets | - | 39,166 |
| Loss on disposal of equipment | 18,000 | - |
| Stock-based compensation | 4,922,525 | 1,131,661 |
| Shares issued for services | - | 2,273,949 |
| Changes in non-cash operating working capital items: | ||
| Accounts receivable, net | (4,236,136) | - |
| Inventories | (4,508,363) | (615,133) |
| Prepaid expenses and other current assets | (2,490,774) | (671,718) |
| Accounts payable and accrued liabilities | 6,520,855 | 1,045,172 |
| Deferred income | 95,535 | - |
| Net cash used in operating activities | (20,380,367) | (7,755,654) |
| Cash flows used in investing activities | ||
| Acquisition of equipment | (293,489) | (26,701) |
| Net cash used in investing activities | (293,489) | (26,701) |
| Cash flows provided by financing activities | ||
| Units issued for cash | - | 3,732,469 |
| Stock issued for cash | 34,321,975 | 52,808,915 |
| Stock issuance costs | (2,547,222) | (5,704,419) |
| Warrants issued for cash | 5,927,077 | - |
| Exercise of options | 364,606 | 1,800 |
| Exercise of warrants | 1,019,461 | 300,000 |
| Repayment of promissory notes | (911,463) | (300,000) |
| Proceeds received from restricted government grant | 174,675 | 373,825 |
| Amounts paid from restricted government grant funds | (134,146) | (446,366) |
| Proceeds from the issuance of convertible debentures | - | 4,545,000 |
| Debt issuance costs | - | (459,360) |
| Net cash provided by financing activities | 38,214,963 | 54,851,864 |
| Change in cash, cash equivalents, and restricted cash during the year | 17,541,107 | 47,069,509 |
| Cash, cash equivalents, and restricted cash beginning of year | 48,564,082 | 1,494,573 |
| Cash, cash equivalents, and restricted cash end of year | $66,105,189 | $48,564,082 |
**ALPHA COGNITION INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
| For the Year Ended December 31, | ||||
|---|---|---|---|---|
| 2025 · 2024 | ||||
| Supplemental Disclosure | ||||
| Cash paid for interest | $4,894 | $37,754 | ||
| Supplemental non-cash disclosures | ||||
| Reallocation of fair value of share options upon exercise | $410,585 | $126,832 | ||
| Reclassification of derivative liability of warrants exercised | $903,245 | $ | - | |
| Reclassification of derivative liability for warrants re-priced from CAD to USD exercise price | $ | - | $4,292,797 | |
| Recognition of Option liabilities | $ | - | $2,068,292 | |
| Common shares issued for share issuance costs | $ | - | $928,874 | |
| Warrants issued for share issuance costs | $ | - | $3,073,338 | |
| Common shares issued for services | $ | - | $2,273,949 | |
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