v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash $ 646,500 $ 4,554,335
Accounts receivable, net 25,717 149,731
Inventories 64,079 364,052
Prepaid expenses and other current assets 213,971 770,153
Total current assets 950,267 5,838,271
Prepaid expenses, long-term 17,423
Deferred offering costs 366,113
Property and equipment, net 62,896 60,654
Operating right of use asset 119,427 148,542
Intangible assets, net 25,410,887
Goodwill 27,048,973 55,676,142
Total assets 28,181,563 87,518,032
Current liabilities    
Accounts payable 3,787,564 5,295,114
Accrued expenses 888,988 2,199,867
Notes payable, net of debt discounts of $4,966 and $381,627 at December 31, 2024 and 2023, respectively 9,328,061 9,618,373
Operating lease liability, current 119,427 74,252
Subscription agreement liability - Related Party 4,123,000
Contingent warrant liabilities 43,089 2,641
Total current liabilities 18,290,129 17,190,247
Note payable, net of current portion 118,857
Subscription agreement liability, long-term related party 864,000
Pension benefit obligation 280,879 556,296
Operating lease liability, net of current portion 74,290
Deferred tax liability, net 3,073,781
Total liabilities 18,571,008 21,877,471
Commitments and Contingencies (see Note 10)
Stockholders' equity    
Common stock, $0.00001 par value, 250,000,000 shares authorized at December 31, 2024 and 2023; 11,767,443 and 571,033 the shares issued at December 31, 2024 and 2023, respectively; 11,754,509 and 558,099 shares outstanding at December 31, 2024 and 2023, respectively 118 6
Additional paid-in capital 127,825,626 49,429,031
Treasury stock, at cost; 12,934 shares of common stock at December 31, 2024 and 2023 (625,791) (625,791)
Due from shareholders (250,308)
Accumulated deficit (115,683,621) (56,786,194)
Accumulated other comprehensive income (loss) (2,723,397) 2,380,920
Total Onconetix, Inc. stockholders’ equity (deficit) 8,542,627 (5,602,028)
Non-controlling interest 7,006,504
Total stockholders’ equity 8,542,627 1,404,476
Total liabilities, convertible preferred stock, and stockholders’ equity 28,181,563 87,518,032
Series B Convertible Redeemable Preferred stock    
Current liabilities    
Convertible Redeemable Preferred stock 64,236,085
Series C Redeemable Preferred stock    
Current liabilities    
Convertible Redeemable Preferred stock 1,067,928
Series A Convertible Preferred Stock    
Stockholders' equity    
Series A Convertible Preferred stock, $0.00001 par value, 10,000 shares authorized at December 31, 2024 and 2023; 0 and 3,000 shares issued and outstanding at December 31, 2024 and 2023, respectively; Liquidation preference of $0 and $3,000,000 at December 31, 2024 and 2023, respectively.