Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 960

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 5
Chunk 960
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 Sublease income 
     (6,489) 
     (7,819)
  
    Total lease cost 
     126,555  
     128,425 

    Other information: 

    Cash paid for operating cash flows for operating leases 
     91,502  
     95,641 
  
    Right-of-use assets obtained in exchange for new operating lease liabilities 
     —  
     365,556 

    Weighted-average remaining lease term - operating leases (year) 
     3.67  
     4.67 
  
    Weighted-average discount rate - operating leases 
     10.48% 
     10.48%

Future
non-cancelable minimum lease payments under the operating lease liability as of December 31, 2024, are as follows:

 Schedule of Future Non-cancelable Minimum Lease Payments Under Operating Lease Liability

    Years ended December 31, 

    2025 
     94,247 
  
    2026 
     97,074 
  
    2027 
     99,986 
  
    2028 
     68,235 
  
    2029 and thereafter 
     — 
  
    Total future minimum lease payments 
     359,542 
  
    Less: imputed interest 
     (60,545)
  
    Present value of payments 
    $298,997 

    F-16

Note
4 – Notes Payable-Related Party

On
October 14, 2024, as part of the senior convertible note offering described in Note 5, the Company entered into a loan with an officer
of the Company in the amount of $250,000 (principal) with an interest rate of 14.5% per annum due October 13, 2025, and warrants to purchase
100,382 shares of common stock at an exercise price of $1.40 per share. As of December 31, 2024, there was outstanding principal and
interest balances for these related party notes of $250,000 and $7,955, respectively. Under the fair value option, the senior convertible
note is $206,085 as of December 31, 2024.

On
September 4, 2024, the Company issued a $250,000 promissory note (the “Promissory Note”) to an officer of the Company for
$250,