Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 89

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 89
---
 payables into a promissory note for $131,868. The note matures on December 15, 2024, or, if earlier
to occur, upon the closing of a public or private offering or other financing or capital-raising transaction of any kind. As of
June 30, 2025, the note was in default, though the Company has not received any notice from Mr. Knuettel. The note accrued interest
at the rate of 4.86% per annum through December 15, 2024 and 6.86% thereafter. As of June 30, 2025, the note had an outstanding
principal of $131,868 and accrued interest of $8,278.

Outstanding
Principal on Related Party Notes

    Note Payable – Related Party
     
    Outstanding
        
        Principal

    Unamortized
        
        Debt
Discount 

    Outstanding
        
        Principal,
        net of
         Debt
Discount

    Related Party Note
     
    $
    131,868

    $
    —

    $
    131,868

    Total As of June 30, 2025
     
    $
    131,868

    $
    —

    $
    131,868

    Note Payable – Related Party
     
    Outstanding
        
        Principal

    Unamortized
        
        Debt
Discount 

    Outstanding
        
        Principal,
        net of
         Debt
Discount 

    Related Party Note
     
    $
    131,868

    $
    —

    $
    131,868

    Total As of December 31, 2024
     
    $
    131,868

    $
    —

    $
    131,868

11 

NOTE
5 – NOTES PAYABLE

May
Promissory Note

On
May 10, 2024, the Company converted accounts payable with a professional advisor into a promissory note in the amount of $1,455,416.
The note matures on December 15, 2024 or, if earlier to occur, upon the closing of a public or private offering or other financing
or capital-raising transaction of any kind. As of June 30, 2025, the note was in default, though the Company has not received
any notice from the professional advisor. The note accrued interest at the rate of 4.86