10-Q
Quarterly Report
60 DEGREES PHARMACEUTICALS, INC.
SXTPW
NASDAQ
CIK: 1946563
File #: 001-41719
Balance Sheet
46 line items · 2 periods
XBRL
| Item | Jun 30, 2024 | Dec 31, 2023 |
|---|---|---|
ASSETS | ||
Current Assets: | ||
Cash | 1,576,602 | 2,142,485 |
Accounts Receivable | 296,370 | 231,332 |
Prepaid and Other Assets | 1,458,293 | 4,402,602 |
Deferred Offering Costs | 5,860 | — |
Inventory (Note 3) | 426,020 | 466,169 |
Total Current Assets | 3,763,145 | 7,242,588 |
Property and Equipment, net (Note 4) | 159,591 | 57,761 |
Other Assets: | ||
Right of Use Asset (Note 11) | — | 13,517 |
Long-Term Prepaid Expense | 154,412 | 242,647 |
Intangible Assets, net (Note 5) | 250,103 | 227,258 |
Total Other Assets | 404,515 | 483,422 |
Total Assets | 4,327,251 | 7,783,771 |
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
Current Liabilities: | ||
Accounts Payable and Accrued Expenses | 643,375 | 506,206 |
Lease Liability (Note 11) | — | 13,650 |
SBA EIDL (including accrued interest) (Note 7) | 8,772 | 8,772 |
Derivative Liabilities (Note 8) | 567,050 | 2,306,796 |
Fair Value, Inputs, Level 3 - Derivative Liabilities | 567,050 | 2,306,796 |
Derivative Liabilities | 567,050 | 2,306,796 |
Fair Value, Inputs, Level 3 | 567,050 | 2,306,796 |
Total Current Liabilities: | 1,219,197 | 2,835,424 |
Long-Term Liabilities: | ||
SBA EIDL (including accrued interest) (Note 7) | 148,670 | 150,251 |
Total Long-Term Liabilities | 148,670 | 150,251 |
Total Liabilities | 1,367,867 | 2,985,675 |
SHAREHOLDERS’ DEFICIT: | ||
Series A Preferred Stock, $0.0001 par value, 1,000,000 shares authorized; 78,803 and 78,803 issued and outstanding as of June 30, 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; 1,017,184 and 484,178 issued and outstanding as of June 30, 2024 and December 31, 2023, respectively(1) (Note 6) | 102 | 48 |
Additional Paid-in Capital(1) | 29,365,567 | 27,457,335 |
Accumulated Other Comprehensive Income | 134,804 | 135,561 |
Accumulated Deficit | (36,323,135) | (32,580,850) |
60P Shareholders’ Equity: | 3,035,378 | 4,870,134 |
Noncontrolling Interest | (75,994) | (72,038) |
Total Shareholders’ Equity | 2,959,384 | 4,798,096 |
Series A - Preferred Stock | 9,858,040 | 9,858,040 |
Common Stock | 102 | 48 |
Additional Paid-In Capital | 29,365,567 | 27,457,335 |
Accumulated Deficit | (36,323,135) | (32,580,850) |
Accumulated Other Comprehensive Income (Loss) | 134,804 | 135,561 |
Total Shareholders ’Equity (Deficit) Attributable to 60P | 3,035,378 | 4,870,134 |
Noncontrolling Interest on Shareholders | (75,994) | (72,038) |
Total Liabilities and Shareholders’ Equity | 4,327,251 | 7,783,771 |