Company: PTHS
Filing Date: 2025-05-09
Form Type: PREM14C
Source: 0001140361-25-018219
Chunk: 483

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-09
Form: PREM14C
Chunk 483
---
 extension of bridge loan              |     |                 $447,779 |     |     $428,400 |
| Conversion of notes to common stock                                              |     |               $1,362,821 |     |           $— |
| Transfer of liabilities to Chromocell Corp for Series C Preferred Stock          |     |               $2,153,362 |     |           $— |
| Accounts payable and accrued expenses converted to loans payable                 |     |               $1,455,416 |     |           $— |
| Accounts payable and accrued expenses converted to loans payable - related party |     |                 $131,868 |     |           $— |
| Shares issued for payment of accounts payable                                    |     |                   $7,339 |     |           $— |
| Shares issued for payment of accrued interest                                    |     |                   $3,344 |     |           $— |
| Shares issued for payment of principal on loan payable                           |     |                  $23,788 |     |           $— |

The accompanying notes are an integral part of these consolidated financial statements. F-7

#### TABLE OF CONTENTS

### CHANNEL THERAPEUTICS CORP

### NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

### NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS

### Company Background
Channel Therapeutics Corporation (“Channel” or the “Company”) was incorporated in the State of Delaware on March 19, 2021. On August 10, 2022, the Company entered into that certain Contribution Agreement (the “Contribution Agreement”) with Chromocell Corporation, a Delaware corporation (“Chromocell Holdings”), pursuant to which, effective July 12, 2022 (the “Contribution Date”), Chromocell Holdings contributed all assets and liabilities related to Chromocell Holdings’ historical therapeutic business, including all patents, pre-clinical and Phase I study results and data, and trade secrets related to the CC8464 compound to the Company (See Note 4). On October 22, 2024, the Company’s shareholders approved a reincorporation merger of the Company in the State of Nevada with and into Channel Therapeutics Corporation, wholly-owned subsidiary of the Company, with Channel Therapeutics Corporation remaining as the surviving corporation immediately following the reincorporation merger (the “Reincorporation Merger”). The Reincorporation Merger occurred on November 18, 2024.

The Company is a clinical-stage biotech company focused on developing