Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 888

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 3
Chunk 888
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     239,250 

    Shares issued for payment of accounts payable 
     —  
     —  
     —  
     —  
     10,000  
     1  
     7,338  
     —  
     7,339 

    Repurchase of Common Stock 

     (86,196) 
     (9) 
     (74,991) 
     —  
     (75,000)

    Shares issued for cash under equity line of credit, net of issuance costs and for
    paydown on notes payable and accrued interest 
     —  
     —  
     —  
     —  
     155,953  
     16  
     109,736  
     —  
     109,752 

    Net loss 
     —  
     —  
     —  
     —  
     —  
     —  
     —  
     (7,955,338) 
     (7,955,338)

    Balance December 31, 2024 
     —  
    $—  
     2,600  
    $—  
     6,103,813  
    $613  
    $18,760,320  
    $(21,474,987) 
    $(2,714,054)

The
accompanying notes are an integral part of these consolidated financial statements.

F-5 

CHANNEL
THERAPEUTICS CORP

CONSOLIDATED
STATEMENTS OF CASH FLOWS 

FOR
THE YEARS ENDED DECEMBER 31, 2024 AND 2023

    Years Ended December 31, 

    2024  
    2023 

    CASH FLOWS FROM OPERATING ACTIVITIES: 

    Net loss 
    $(7,955,338) 
    $(7,380,793)

    Adjustments to reconcile net loss to net cash used in operating activities 

    Amortization of debt discount 
     692,020  
     188,119 

    Issuance cost from shares issued on extension of investor note 
     —  
     201,600 

    Stock-based compensation