Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 170

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 170
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 the three months ended March 31, 2025,
we incurred significantly higher sales, advertising and promotion expenses and investor outreach expenses at $285,287 and $393,687 for
the three months ended March 31, 2025, up from $104,064 and $182,164 for the three months ended March 31, 2024, respectively. Additionally,
for the three months ended March 31, 2025, we recognized $142,645 in stock-based compensation expense ($0 for the three months ended March
31, 2024). This increase was in part due to new partially vested option grants awarded to two executives in January 2025, as well as the
quarterly expense recognized for additional stock options granted in the third quarter of 2024.

Interest and Other Income, net

    For the Three Months Ended 
March 31,  

    Consolidated Statements of Operations Data: 
    2025  
    2024  
    $ Change  
    % Change 
  
    Interest Expense 
    $(1,790) 
    $(1,402) 
    $(388) 
     27.67%
  
    Change in Fair Value of Derivative Liabilities 
     5,105  
     1,740,847  
     (1,735,742) 
     (99.71)
  
    Other Income, net 
     30,322  
     31,051  
     (729) 
     (2.35)
  
    Total Interest and Other Income, net 
    $33,637  
    $1,770,496  
    $(1,736,859) 
     (98.10)%

Interest Expense

For the three months ended March 31, 2025, we
recognized $1,790 of interest expense ($1,402 for the three months ended March 31, 2024). Our interest expense for the periods presented
relates entirely to our single outstanding loan from the SBA. Cash paid for interest expense was $2,193 and $2,193 for the three months
ended March 31, 2025 and March 31, 2024, respectively.

Change in Fair Value of Derivative Liabilities

For the three months ended March 31, 2025, we
recognized a gain on the change in fair value of derivative liabilities of $5,105 compared to $