10-Q
Quarterly Report
60 DEGREES PHARMACEUTICALS, INC.
SXTPW
NASDAQ
CIK: 1946563
File #: 001-41719
Balance Sheet
49 line items · 2 periods
XBRL
| Item | Sep 30, 2023 | Dec 31, 2022 |
|---|---|---|
ASSETS | ||
Current Assets: | ||
Cash | 2,218,540 | 264,865 |
Accounts Receivable | 138,009 | 45,965 |
Prepaid and Other | 5,939,927 | 200,967 |
Deferred Offering Costs | — | 68,629 |
Inventory, net | 598,319 | 518,578 |
Total Current Assets | 8,894,795 | 1,099,004 |
Property and Equipment, net | 3,836 | 21,300 |
Other Assets: | ||
Right of Use Asset | 26,534 | 12,647 |
Intangible Assets, net | 225,047 | 164,255 |
Total Other Assets | 251,581 | 176,902 |
Total Assets | 9,150,212 | 1,297,206 |
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT) | ||
Current Liabilities: | ||
Accounts Payable and Accrued Expenses | 271,602 | 758,668 |
Lease Liability | 26,800 | 13,000 |
Deferred Compensation | — | 325,000 |
Related Party Notes, net (including accrued interest) | — | 195,097 |
Debenture | — | 4,276,609 |
SBA EIDL (including accrued interest) | 8,772 | 2,750 |
Promissory Notes (including accrued interest) | — | 16,855,887 |
Derivative Liabilities | 2,174,194 | 1,129,840 |
Derivative Liabilities - Related Parties | — | 364,360 |
Total Current Liabilities: | 2,481,368 | 23,921,211 |
Long-Term Liabilities: | ||
Deferred Compensation | — | 255,000 |
SBA EIDL (including accrued interest) | 152,594 | 160,272 |
Promissory Notes (including accrued interest) | — | 1,109,783 |
Total Long-Term Liabilities | 152,594 | 1,525,055 |
Total Liabilities | 2,633,962 | 25,446,266 |
SHAREHOLDERS’ EQUITY (DEFICIT): | ||
Preferred stock, $0.0001 par value, 1,000,000 shares authorized; 78,803 issued and outstanding as of September 30, 2023 and 0 as of December 31, 2022, respectively (Note 6) | 9,858,040 | — |
Class A common stock, $0.0001 par value, 150,000,000 shares authorized; 5,799,535 and 2,386,009 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively (Note 6) | 580 | 239 |
Additional Paid-in Capital | 27,182,915 | 5,164,461 |
Accumulated Other Comprehensive Income | 81,386 | 73,708 |
Accumulated Deficit | (30,568,566) | (28,815,148) |
60P Shareholders’ Equity (Deficit): | 6,554,355 | (23,576,740) |
Noncontrolling interest | (38,105) | (572,320) |
Total Shareholders’ Equity (Deficit) | 6,516,250 | (24,149,060) |
Series A Convertible Preferred Stock - Preferred Stock | 9,858,040 | — |
Common Stock | 580 | 239 |
Additional Paid-In Capital | 27,182,915 | 5,164,461 |
Accumulated Deficit | (30,568,566) | (28,815,148) |
Accumulated Other Comprehensive Income (Loss) | 81,386 | 73,708 |
Total Shareholders’ Equity (Deficit) Attributable to 60P | 6,554,355 | (23,576,740) |
Noncontrolling Interest on Shareholders | (38,105) | (572,320) |
Total Liabilities and Shareholders’ Equity (Deficit) | 9,150,212 | 1,297,206 |