Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 134

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 134
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2023-09,
Income Taxes (ASC 740): Improvements to Income Tax Disclosures (“ASU 2023-09”) which requires disaggregated information
about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. ASU 2023-09 is effective
for annual periods beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact that ASU 2023-09
will have on our financial statement disclosures.

In November 2024, the FASB issued ASU 2024-03,
Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income
Statement Expenses (“ASU 2024-03”), which applies to all public business entities that file financial statements with
the SEC. The amendments in this ASU require public business entities to disclose on an annual and interim basis, disaggregated information
about certain income statement expense line items. The new standard is effective for fiscal years beginning after December 15, 2026, with
early adoption permitted. We are currently evaluating the impact that ASU 2024-03 will have on our financial statement disclosures.

ITEM 3. Quantitative and Qualitative Disclosures
about Market Risk

As a smaller reporting company as defined by Rule
12b-2 of the Exchange Act of 1934, as amended and in Item 10(f)(1) of Regulation S-K, we are electing scaled disclosure reporting obligations
and therefore are not required to provide the information requested by this item.

ITEM 4. Controls and Procedures. Disclosure
Controls and Procedures 

Evaluation of Disclosure Controls and Procedures

The Company’s management, with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, have
evaluated the effectiveness of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under
the Exchange Act) as of March 31, 2025. Based on that evaluation, the Company’s Chief Executive Officer and the Company’s
Chief Financial Officer have concluded that as of March 31, 2025, due to the existence of the material weakness in the Company’s
internal control over financial reporting described below, the Company’s disclosure controls and procedures were not effective.

Management is responsible for establishing and
maintaining adequate internal control over our financial reporting, as such term is defined in Rules 13