Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 96

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 96
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 cash consumption and thus maintain sufficient cash
balances for our planned operations or future acquisitions. Future business demands may lead to cash utilization at levels greater than
recently experienced. We may need to raise additional capital in the future. However, we cannot assure you that we will be able to raise
additional capital on acceptable terms, or at all.

Going Concern

In their audit report for the fiscal year ended
December 31, 2024, our auditors have expressed their concern as to our ability to continue as a going concern. Our ability to continue
as a going concern is dependent upon our ability to generate cash flows from operations and obtain financing. The audited consolidated
financial statements for the years ended December 31, 2024, and December 31, 2023, respectively, included an explanatory note referring
to our recurring operating losses and expressing substantial doubt in our ability to continue as a going concern. 

Our future results are subject to substantial
risks and uncertainties. Since our inception, we have not demonstrated the ability to generate enough revenues to date to cover operating
expenses and we have accumulated losses to date. To date, we have funded our operations primarily with proceeds from sales of common stock
and warrants for the purchase of common stock, sales of preferred stock, proceeds from the issuance of convertible debt and borrowings
under loan and security agreements.

Continuation as a going concern is dependent upon
our ability to meet our financial requirements, raise additional capital, and achieve gross profitability from our single marketed product.
To achieve profitability, we expect we will need to raise additional capital to fund our activities relating to commercial support for
our existing product and any future clinical research trials and operating activities. However, there can be no assurance that we
will ever achieve or maintain profitability. These conditions, among others, raise substantial doubt about our ability to continue as
a going concern for one year from the date these financial statements are issued.

We plan to fund our operations through third party
and related party debt/advances, private placement of restricted securities and the issuance of stock in a subsequent offering until such
a time as the business achieves profitability or a business combination may be achieved. However, there can be no assurance that we will
be successful in raising additional capital or that such capital, if available, will be on terms that are favorable to us. Debt financing
and equity financing, if available, may involve agreements that include covenants limiting or restricting our ability to take specific
actions, such as incurring