Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 389

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 10
Chunk 389
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 the underwriters after the initial public offering or in the event of change of control of the Company.

As
of December 31, 2024, the Company had an aggregate of 1,626,037 restricted stock units outstanding with an aggregate fair value of $2,195,550.

Note
7 – Income Taxes 

A
reconciliation of income taxes at the U.S. federal statutory rate to the benefit for income taxes is as follows:

Schedule
of Income Tax Provision

    2024  
    2023 
  
    Federal 
     21.00% 
     21.00%
  
    State 
     2.07% 
     2.55%
  
    Nondeductible expenses 
     -2.33% 
     -3.85%
  
    Change in valuation allowance 
     -20.74% 
     -19.70%
  
    Effective tax rate 
     -  
     - 

    F-21

JUPITER
NEUROSCIENCES, INC.

NOTES
TO FINANCIAL STATEMENTS

December
31, 2024 and 2023

Note
7 – Income Taxes, continued 

A
summary of the Company’s deferred tax assets is as follows:

Schedule
of Deferred Tax Assets

    2024  
    2023 
  
    U.S Federal and State net operating loss 
    $3,083,545  
    $2,429,544 
  
    Stock based compensation 
     1,272,925  
     1,031,860 
  
    Accrued salaries 
     382,288  
     395,899 
  
    Orphan drug credit 
     1,060,118  
     924,171 
  
    Derivative liability 
     -  
     370,572 
  
    Other 
     260,481  
     392,486 
  
    Total net deferred tax assets 
     6,059,357  
     5,544,532 
  
    Valuation allowance 
     (6,059,357) 
     (5,544,532)
  
    Total Deferred Tax Asset 
    $-  
    $- 

As
of December 31, 2024, the Company had federal and state (post-apportioned basis) net operating losses (“NOLs”) of