Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 1745

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 7A
Chunk 1745
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 with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging
– Contracts in Entity’s Own Equity (Subtopic 815-40) – Accounting for Convertible Instruments and Contracts in an Entity’s
Own Equity. The ASU simplifies accounting for convertible instruments by removing major separation models required under current GAAP.
Consequently, more convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded
conversion features. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative
scope exception, which will permit more equity contracts to qualify for the exceptions. The ASU also simplifies the diluted net income
per share calculation in certain areas. The new guidance is effective for fiscal years beginning after December 15, 2023, including interim
periods within those fiscal years, and early adoption is permitted. The Company’s adoption of this standard did not have a material
impact on the Company’s financial statements.

In November 2023, the FASB issued Accounting Standards
Update 2023-07 - Segment Reporting (Topic ASC 280) Improvements to Reportable Segment Disclosures. The ASU improves reportable segment
disclosure requirements, primarily through enhanced disclosure about significant segment expenses. The enhancements under this update
require disclosure of significant segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”)
and included within each reported measure of segment profit or loss, require disclosure of other segment items by reportable segment
and a description of the composition of other segment items, require annual disclosures under ASC 280 to be provided in interim
periods, clarify use of more than one measure of segment profit or loss by the CODM, require that the title of the CODM be disclosed with
an explanation of how the CODM uses the reported measures of segment profit or loss to make decisions, and require that entities with
a single reportable segment provide all disclosures required by this update and required under ASC 280. The Company adopted ASU 2023-07
for the annual period ending December 31, 2024.

The Company’s Chief Executive Officer serves as the CODM.

All
other newly issued accounting pronouncements that are not yet effective have been deemed immaterial or nonapplicable.

Note
3 – Related Party Transactions

The
Company’s Chief Executive Officer (CEO) has loaned the Company working capital since inception. The balance of the loans to the
CEO as of