Annual report pursuant to Section 13 and 15(d)

Foreign Currency Remeasurement

Foreign Currency Remeasurement

12 Months Ended

Dec. 31, 2023

3. Foreign Currency Remeasurement

The U.S. dollar has been determined to be the functional currency for the net assets of Cocrystal Australia operations. The transactions are recorded in the local currencies and are remeasured at each reporting date using the historical rates for nonmonetary assets and liabilities and current exchange rates for monetary assets and liabilities at the balance sheet date. Exchange gains and losses from the remeasurement of monetary assets and liabilities are recognized in other income (loss). The Company recognized an loss of approximately $65,000 and $18,000 for the years ended December 31, 2023 and 2022, respectively.

As of December 31, 2023 and 2022, the Company’s cash balances consisted of the following (in thousands):

Schedule of Cash Balance

	2023		2022
U.S. Dollars	$	26,402	$	37,177
Australian Dollars – in US $		26		42
Cash Balance	$	26,428	$	37,219

- Definition

The entire disclosure for foreign currency transactions and translation. This may include description of foreign currency transactions, foreign currency gains and losses, explanation of change in cumulative translation adjustment, description of effect of subsequent foreign currency exchange rate change, cumulative translation adjustment movement, foreign currency translation adjustment by component movement, translation adjustment for net investment hedge movement, adjustment for long-term intercompany transactions, schedule of long-term intercompany balances and any other foreign currency transactions and translation related items.

+ References + Details