10-Q
Quarterly Report
60 DEGREES PHARMACEUTICALS, INC.
SXTPW
NASDAQ
CIK: 1946563
File #: 001-41719
Balance Sheet
41 line items · 2 periods
XBRL
| Item | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|
Current Assets: | ||
Cash | 2,894,700 | 2,142,485 |
Accounts Receivable | 316,220 | 231,332 |
Prepaid and Other Assets | 4,259,511 | 4,402,602 |
Inventory (Note 3) | 435,377 | 466,169 |
Total Current Assets | 7,905,808 | 7,242,588 |
Property and Equipment, net (Note 4) | 57,354 | 57,761 |
Other Assets: | ||
Right of Use Asset (Note 11) | — | 13,517 |
Long-Term Prepaid Expense | 198,529 | 242,647 |
Intangible Assets, net (Note 5) | 217,417 | 227,258 |
Total Other Assets | 415,946 | 483,422 |
Total Assets | 8,379,108 | 7,783,771 |
Current Liabilities: | ||
Accounts Payable and Accrued Expenses | 529,449 | 506,206 |
Lease Liability (Note 11) | — | 13,650 |
SBA EIDL (including accrued interest) (Note 7) | 8,772 | 8,772 |
Derivative Liabilities (Note 8) | 565,949 | 2,306,796 |
Level 3 | 565,949 | 2,306,796 |
Total Current Liabilities: | 1,104,170 | 2,835,424 |
Long-Term Liabilities: | ||
SBA EIDL (including accrued interest) (Note 7) | 149,460 | 150,251 |
Total Long-Term Liabilities | 149,460 | 150,251 |
Total Liabilities | 1,253,630 | 2,985,675 |
SHAREHOLDERS’ EQUITY: | ||
Series A Preferred Stock, $0.0001 par value, 1,000,000 shares authorized; 78,803 and 78,803 issued and outstanding as of March 31, 2024 and December 31, 2023, respectively (Note 6) | 9,858,040 | 9,858,040 |
Common Stock, $0.0001 par value, 150,000,000 shares authorized; 11,570,578 and 5,810,089 issued and outstanding as of March 31, 2024 and December 31, 2023, respectively (Note 6) | 1,176 | 581 |
Additional Paid-in Capital | 29,359,498 | 27,456,802 |
Accumulated Other Comprehensive Income | 131,667 | 135,561 |
Accumulated Deficit | (32,150,380) | (32,580,850) |
60P Shareholders’ Equity: | 7,200,001 | 4,870,134 |
Noncontrolling Interest | (74,523) | (72,038) |
Total Shareholders’ Equity | 7,125,478 | 4,798,096 |
Series A - Preferred Stock | 9,858,040 | 9,858,040 |
Common Stock | 1,176 | 581 |
Additional Paid-In Capital | 29,359,498 | 27,456,802 |
Accumulated Deficit | (32,150,380) | (32,580,850) |
Accumulated Other Comprehensive Income (Loss) | 131,667 | 135,561 |
Total Shareholders ’Equity (Deficit) Attributable to 60P | 7,200,001 | 4,870,134 |
Noncontrolling Interest on Shareholders | (74,523) | (72,038) |
Total Liabilities and Shareholders’ Equity | 8,379,108 | 7,783,771 |