Company: SXTPW
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001213900-25-014334
Chunk: 313

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-02-14
Form: S-1
Chunk 313
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|:-------------------------------------------|:----|:-------------|-------:|:--|
| 2024                                       |     | $            | 13,992 |   |
| Thereafter                                 |     |              |      - |   |
| Total undiscounted minimum future payments |     |              | 13,992 |   |
| Imputed interest                           |     |              |   (342 | ) |
| Total operating lease payments             |     |              | 13,650 |   |
| Current lease liabilities                  |     |              | 13,650 |   |
| Non-current lease liabilities              |     | $            |      - |   |

F-67

Other information related to our operating lease is as follows:

|                                                  |     | December 31, 
 2023         |       |   |
|:-------------------------------------------------|:----|:-------------|------:|:--|
| Weighted average remaining lease term (in years) |     |              |  0.25 |   |
| Weighted average discount rate                   |     |              | 15.00 | % |

Operating lease costs were in the amount of $ 55,084and $ 51,894for the year ended December 31, 2023, and 2022, respectively.

Board of Directors

In November and December 2022, the Company signed agreements with four director nominees (Cheryl Xu, Paul Field, Charles Allen and Stephen Toovey) which come into effect on the date the Company’s Registration Statement is declared effective. As described in Note 1, the Company’s Registration Statement was declared effective on July 11, 2023. Each director is entitled to receive cash compensation of $ 11,250quarterly. In addition, the two non-audit committee chairs (Toovey, Field) will receive $ 1,250per quarter and the audit committee chair (Allen) will receive an additional $ 2,000per quarter. On July 11, 2023, each director received (i) a one-off issuance of 10,000shares of common stock, and (ii) a fully vested, non-qualified option to purchase 9,434shares of common stock at an exercise price of $ 5.30per share. In addition, each director is entitled to receive annual equity compensation after July 11, 2023, and annually thereafter unless determined otherwise by the Board, in the form of restricted stock units valued at