10-K
Annual Report
60 DEGREES PHARMACEUTICALS, INC.
SXTPW
NASDAQ
CIK: 1946563
File #: 001-41719
Balance Sheet
51 line items · 2 periods
XBRL
| Item | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|
Current Assets: | ||
Cash | 2,142,485 | 264,865 |
Accounts Receivable | 231,332 | 45,965 |
Prepaid and Other Assets | 4,402,602 | 200,967 |
Deferred Offering Costs | — | 68,629 |
Inventory, net | 466,169 | 518,578 |
Total Current Assets | 7,242,588 | 1,099,004 |
Property and Equipment, net | 57,761 | 21,300 |
Other Assets: | ||
Right of Use Asset | 13,517 | 12,647 |
Long-Term Prepaid Expense | 242,647 | — |
Intangible Assets, net | 227,258 | 164,255 |
Total Other Assets | 483,422 | 176,902 |
Total Assets | 7,783,771 | 1,297,206 |
Current Liabilities: | ||
Accounts Payable and Accrued Expenses | 506,206 | 758,668 |
Lease Liability | 13,650 | 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 |
Knight | — | 16,319,986 |
Bridge Notes | — | 535,901 |
Derivative Liabilities | 2,306,796 | 1,129,840 |
Derivative Liabilities - Related Parties | — | 364,360 |
Total Current Liabilities | 2,835,424 | 23,921,211 |
Long-Term Liabilities: | ||
Deferred Compensation | — | 255,000 |
SBA EIDL (including accrued interest) | 150,251 | 160,272 |
Promissory Notes (including accrued interest) | — | 1,109,783 |
Note, Including Amendment | — | 1,109,783 |
Total Long-Term Liabilities | 150,251 | 1,525,055 |
Total Liabilities | 2,985,675 | 25,446,266 |
SHAREHOLDERS’ EQUITY (DEFICIT) | ||
Series A Preferred Stock, $0.0001 par value, 1,000,000 shares authorized; 78,803 and 0 issued and outstanding as of December 31, 2023 and December 31, 2022, respectively (Note 6) | 9,858,040 | — |
Common Stock, $0.0001 par value, 150,000,000 shares authorized; 5,810,089 and 2,386,009 issued and outstanding as of December 31, 2023 and December 31, 2022, respectively (Note 6) | 581 | 239 |
Additional Paid-in Capital | 27,456,802 | 5,164,461 |
Accumulated Other Comprehensive Income | 135,561 | 73,708 |
Accumulated Deficit | (32,580,850) | (28,815,148) |
60P Shareholders’ Equity (Deficit): | 4,870,134 | (23,576,740) |
Noncontrolling Interest | (72,038) | (572,320) |
Total Shareholders’ Equity (Deficit) | 4,798,096 | (24,149,060) |
Series A Preferred Stock - Preferred Stock | 9,858,040 | — |
Common Stock | 581 | 239 |
Additional Paid-In Capital | 27,456,802 | 5,164,461 |
Accumulated Deficit | (32,580,850) | (28,815,148) |
Accumulated Other Comprehensive Income (Loss) | 135,561 | 73,708 |
Total Shareholders’ Equity (Deficit) Attributable to 60P | 4,870,134 | (23,576,740) |
Noncontrolling Interest on Shareholders | (72,038) | (572,320) |
Total Liabilities and Shareholders’ Equity (Deficit) | 7,783,771 | 1,297,206 |