Company: SXTPW
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001213900-25-014334
Chunk: 259

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-02-14
Form: S-1
Chunk 259
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urrence of an IPO within the terms of liability-classified financial instruments, as an IPO
could potentially impact the settlement.

9. INCOME TAXES The Company did not record a federal income tax provision or benefit for each of the three and nine months ended September 30, 2024 and 2023 due to taxable losses. The Company recorded a provision for income taxes for the District of Columbia of $ 250and $ 63for the three months ended September 30, 2024 and 2023, respectively, thereby reflecting the minimum statutory tax due ($ 751and $ 189for the nine months ended September 30, 2024 and 2023, respectively).

10. SHARE-BASED COMPENSATION

The following is a summary of share-based compensation
expenses reported in the Consolidated Condensed Statements of Operations and Comprehensive (Loss) Income for the three and nine months
ended September 30, 2024 and 2023:

|                                                                       |     | 2024 |            For the 
 Three Months Ended 
      September 30, |     | 2023 |         |     | 2024 |           For the 
 Nine Months Ended 
     September 30, |     | 2023 |           |
|:----------------------------------------------------------------------|:----|:-----|-------------------:|:----|:-----|--------:|:----|:-----|------------------:|:----|:-----|----------:|
| Research and Development                                              |     | $    |            600,000 |     | $    |       - |     | $    |         3,227,300 |     | $    |   188,908 |
| General and Administrative Expenses                                   |     |      |             68,974 |     |      | 549,031 |     |      |           319,709 |     |      | 1,172,136 |
| Total Share-Based Compensation Expense Included in Operating Expenses |     | $    |            668,974 |     | $    | 549,031 |     | $    |         3,547,009 |     | $    | 1,361,044 |

(a) Share-Based Compensation under 2022 Equity Incentive Plan

On November 22, 2022, the Company adopted the
2022 Equity Incentive Plan (the “2022 Plan”), which provides for the grant of stock options, stock appreciation rights, restricted
stock, restricted