Company: PTPI
Filing Date: 2025-02-10
Form Type: S-1/A
Source: 0001410578-25-000108
Chunk: 153

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-02-10
Form: S-1/A
Chunk 153
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 the decrease in the fair value of warrants issued in the Private Placement (as defined herein) which were classified as liabilities in accordance with ASC 815. Interest Income Interest income for the nine months ended September 30, 2024, and 2023, was $347,028 and $287,722, respectively. Petros invested its cash in money market securities during 2024 and 2023. Interest Expense, Promissory Note In January 2022, the Company executed a promissory note in favor of Vivus with a principal amount of $10,201,758 in connection with the Vivus Settlement Agreement. Interest expense, promissory note for the nine months ended September 30, 2024, and 2023, was $393,450 and $410,317, respectively. Loss on issuance of Series A Preferred Stock As the fair value of the liabilities required to be subsequently measured at fair value exceeded the net proceeds received, for nine months September 30, 2023, the Company recognized the excess of the fair value over the net proceeds received as a loss upon issuance of preferred stock of $11.1 million, which is included in other income (expense) in the condensed consolidated statement of operations. No similar losses were recognized during the nine months ended September 30, 2024, as no issuances of this nature occurred. Three Months Ended September 30, 2024, and 2023 (Unaudited) The following table sets forth a summary of our statements of operations for the three months ended September 30, 2024, and 2023:

| ​                                            | ​ 
 ​ 
 ​ | For the Three Months Ended September 30, |       2024 | ​ |   |        2023 | ​ |
|:---------------------------------------------|:--|:-----------------------------------------|-----------:|:--|:--|------------:|:--|
| Net sales                                    | ​ | $                                        |  1,576,366 | ​ | $ |   1,674,657 |   |
| Cost of sales                                | ​ | ​                                        |    287,005 | ​ | ​ |     408,475 | ​ |
| Gross profit                                 | ​ | ​                                        |  1,289,361 | ​ | ​ |   1,266,182 | ​ |
| Operating expenses:                          | ​ | ​                                        |            | ​ | ​ |             | ​ |
| Selling, general and