Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 399

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 399
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    $—  
    $709,486  
    $709,486 

    December 31, 2023 
    Level 1  
    Level 2  
    Level 3  
    Carrying Value 
  
    Assets 

    Marketable Securities: 

    United States Treasury Bonds 
    $2,887,215  
    $—  
    $—  
    $2,887,215 
  
    Total Assets 
    $2,887,215  
    $—  
    $—  
    $2,887,215 
  
    Liabilities 

    Derivative Liability - Warrants 
    $—  
    $—  
    $410,660  
    $410,660 
  
    Derivative Liability - Accelerated feature 
     —  
     —  
     3,852  
     3,852 
  
    Derivative Liability 
     —  
     —  
     3,852  
     3,852 

    Total Liabilities 
    $—  
    $—  
    $414,512  
    $414,512 

See
Note 5 and Note 7 for additional disclosures related to the fair value of the Company’s convertible notes and derivative liabilities,
respectively.

Leases

The
Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use asset (“ROU”),
operating lease liability - current, and operating lease liability - noncurrent on the consolidated balance sheets.

ROU
assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the related
obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date
based on the present value of lease payments over the lease term. As the Company’s leases do not provide an implicit rate, the
Company uses an incremental borrowing rate based on the estimated rate of interest for collateralized borrowing, over a similar term
of the lease payments at commencement date. The operating lease ROU asset also includes any lease payments made and excludes lease incentives.
The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that it will exercise
that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

    F-