Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 281

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1A
Chunk 281
---
(235,707) 
     — 
  
    Payment for issuance costs related to liability-classified warrants 
     (28,477) 
     — 
  
    Proceeds from exercise of pre-funded warrants 
     729  
     (345,000)
  
    Payment for convertible notes finance costs 
     (107,491) 
     (334,444)
  
    Payment of convertible note payable 
     (846,806) 
     — 
  
    Net cash provided by financing activities 
     3,755,193  
     2,570,083 

    Net change in cash and cash equivalents 
     (656,272) 
     (5,840,787)
  
    Cash and cash equivalents, beginning of period 
     2,576,416  
     8,417,203 
  
    Cash and cash equivalents, end of period 
    $1,920,144  
    $2,576,416 

    Cash paid for: 

    Interest 
    $86,589  
    $164,807 
  
    Income taxes 
    $—  
    $— 

    Supplemental non-cash financing activities: 

    Common stock issued for settlement of debt 
    $1,947,294  
    $2,697,849 
  
    Warrants issued for financing fees, net of issuance fees of $0 and $8,727, respectively 
    $—  
    $90,816 
  
    Initial recognition of right of use asset and liability 
    $—  
    $365,556 

The
accompanying notes are an integral part of these consolidated financial statements.

F-5

Note
1 – Organization and Liquidity

Organization
and Line of Business

Shuttle
Pharmaceuticals Holdings, Inc. (“we,” “us,” “our,” or the “Company”) was originally formed
as Shuttle Pharmaceuticals, LLC in the State of Maryland on December 18, 2012. On August 12, 2016, the Company filed articles of conversion
with the State of Maryland to convert from an LLC to a C corporation, at which time the Company changed its name to Shuttle Pharmaceuticals,
Inc. (“Shuttle”). In connection with the conversion the Company issued 5,625,000 shares of common stock in exchange for 100%
of the outstanding membership interests in Shuttle prior to