10-Q
Quarterly Report
60 DEGREES PHARMACEUTICALS, INC.
SXTPW
NASDAQ
CIK: 1946563
File #: 001-41719
Balance Sheet
46 line items · 2 periods
XBRL
| Item | Sep 30, 2024 | Dec 31, 2023 |
|---|---|---|
ASSETS | ||
Current Assets: | ||
Cash and Cash Equivalents | 3,300,688 | 2,142,485 |
Accounts Receivable | 323,822 | 231,332 |
Prepaid and Other Assets | 1,102,948 | 4,402,602 |
Short-Term Investments | 1,711,497 | — |
Inventory (Note 3) | 452,036 | 466,169 |
Total Current Assets | 6,890,991 | 7,242,588 |
Property and Equipment, net (Note 4) | 155,257 | 57,761 |
Other Assets: | ||
Right of Use Asset (Note 11) | — | 13,517 |
Long-Term Prepaid Expense | 110,294 | 242,647 |
Intangible Assets, net (Note 5) | 264,351 | 227,258 |
Total Other Assets | 374,645 | 483,422 |
Total Assets | 7,420,893 | 7,783,771 |
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
Current Liabilities: | ||
Accounts Payable and Accrued Expenses | 677,617 | 506,206 |
Lease Liability (Note 11) | — | 13,650 |
SBA EIDL (including accrued interest) (Note 7) | 8,772 | 8,772 |
Derivative Liabilities (Note 8) | 623,762 | 2,306,796 |
Fair Value, Inputs, Level 3 - Derivative Liabilities | 623,762 | 2,306,796 |
Derivative Liabilities | 623,762 | 2,306,796 |
Fair Value, Inputs, Level 3 | 623,762 | 2,306,796 |
Total Current Liabilities: | 1,310,151 | 2,835,424 |
Long-Term Liabilities: | ||
SBA EIDL (including accrued interest) (Note 7) | 147,895 | 150,251 |
Total Long-Term Liabilities | 147,895 | 150,251 |
Total Liabilities | 1,458,046 | 2,985,675 |
SHAREHOLDERS’ EQUITY: | ||
Series A Preferred Stock, $0.0001 par value, 1,000,000 shares authorized; 76,480 and 78,803 issued and outstanding as of September 30, 2024 and December 31, 2023, respectively (Note 6) | 9,567,439 | 9,858,040 |
Common Stock, $0.0001 par value, 150,000,000 shares authorized; 1,861,914 and 484,187 issued and outstanding as of September 30, 2024 and December 31, 2023, respectively (Note 6) | 186 | 48 |
Additional Paid-in Capital(1) | 34,815,642 | 27,457,335 |
Accumulated Other Comprehensive Income | 139,207 | 135,561 |
Accumulated Deficit | (38,482,920) | (32,580,850) |
60P Shareholders’ Equity: | 6,039,554 | 4,870,134 |
Noncontrolling Interest | (76,707) | (72,038) |
Total Shareholders’ Equity | 5,962,847 | 4,798,096 |
Series A - Preferred Stock | 9,567,439 | 9,858,040 |
Common Stock | 186 | 48 |
Additional Paid-In Capital | 34,815,642 | 27,457,335 |
Accumulated Deficit | (38,482,920) | (32,580,850) |
Accumulated Other Comprehensive Income (Loss) | 139,207 | 135,561 |
Total Shareholders’ Equity (Deficit) Attributable to 60P | 6,039,554 | 4,870,134 |
Noncontrolling Interest on Shareholders | (76,707) | (72,038) |
Total Liabilities and Shareholders’ Equity | 7,420,893 | 7,783,771 |