Company: SHPH
Filing Date: 2025-01-15
Form Type: S-1
Source: 0001493152-25-002253
Chunk: 177

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-01-15
Form: S-1
Chunk 177
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 for the use of a laboratory facility, entered into on February 16, 2023, with base rent of $ 7,206per month for a period of 64months, which increases at the rate of 3% per year, that commenced June 1, 2023. The lease included a six-month 50% rent abatement upon commencement. Additional common area maintenance (“CAM”) fees are charged monthly and revised annually. The estimated monthly CAM fees are $ 3,300per month for the first year of the lease, which are being expensed as incurred. An irrevocable letter of credit (“LOC”) for the security deposit of $ 43,234and base rent of $ 3,891, including 50% abatement, and $ 3,315of CAM cost, was due and paid on execution of the lease agreement. Alexandria Real Estate (ARE-QRS-CORP) is the beneficiary of the LOC, and the expiry date of the LOC is March 1, 2025.

| F-12 |

The following summarizes the ROU lease expense components and cash flow information for the Company’s operating leases:

Schedule of Right-of Use Asset and Lease Information about Operating Lease

| Operating lease cost                                                       
 Variable lease cost                                                        
 Sublease income                                                            |     | 2024               
 Three Months Ended 
 September 30,      
 2024               | 22,947 
 10,440 
 (2,163 | ) |     | 2023 
 2023 | 40,491 
 10,408 
 (2,135 | ) |     | 2024              
 Nine Months Ended 
 September 30,     
 2024              | 68,841 
 30,817 
 (6,489 | ) |     | 2023 
 2023 |  83,230 
  13,723 
  (6,377 | ) |
|:---------------------------------------------------------------------------|:----|:-------------------|-------:|:--|:----|:-----|-------:|:--|:----|:------------------|-------:|:--|:----|:-----|--------:|:--|
| Total lease cost                                                           |     | $                  | 31,224 |   |     | $    | 48,764 |   |     | $                 | 93,169 |   |     | $    |  90,576 |   |
| Cash paid for operating