Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 127

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 127
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 Consolidated Statements of Operations Data: 
    2025  
    2024  
    $ Change  
    % Change 
  
    Interest Expense 
    $(1,790) 
    $(1,402) 
    $(388) 
     27.67%
  
    Change in Fair Value of Derivative Liabilities 
     5,105  
     1,740,847  
     (1,735,742) 
     (99.71)
  
    Other Income, net 
     30,322  
     31,051  
     (729) 
     (2.35)
  
    Total Interest and Other Income, net 
    $33,637  
    $1,770,496  
    $(1,736,859) 
     (98.10)%

Interest Expense

For the three months ended March 31, 2025, we
recognized $1,790 of interest expense ($1,402 for the three months ended March 31, 2024). Our interest expense for the periods presented
relates entirely to our single outstanding loan from the SBA. Cash paid for interest expense was $2,193 and $2,193 for the three months
ended March 31, 2025 and March 31, 2024, respectively.

Change in Fair Value of Derivative Liabilities

For the three months ended March 31, 2025, we
recognized a gain on the change in fair value of derivative liabilities of $5,105 compared to $1,740,847 for the three months ended March
31, 2024. During the periods presented, derivative liabilities include the contingent milestone payment due to Knight upon a future sale
of Arakoda or a Change of Control. We use a probability-weighted expected return method to estimate the fair value of this derivative
liability.

Other Income, net 

For the three months ended March 31, 2025, we recognized $30,322 in
other income compared to $31,051 for the three months ended March 31, 2024. For the three months ended March 31, 2025, we recognized interest
income from cash invested in interest-bearing accounts and investments in certificates of deposit of $31,897 ($21,888 for the three months
ended March 31, 2024). Other income for the three months ended March 31, 202