Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 95

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 95
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 interest on the outstanding principal amount at an annual rate equal to 6.0%.
The June Bridge Note may be prepaid by the Company without penalty, in whole or in part, upon two days’ prior written notice
to the Holder. All unpaid principal, together with any then unpaid and accrued interest and other amounts payable under the May
Bridge Note, will otherwise be due and payable on the earliest of: (i) September 30, 2025, (ii) the consummation of a Corporate
Event (as defined in the May Bridge Note), or (iii) when, upon or after the occurrence of an Event of Default (as defined in the
Note), such amounts are declared due and payable by the Holder or made automatically due and payable in accordance with the terms
of the May Bridge Note.

As
of June 30, 2025, there was $187 in accrued interest
and $38,624 unamortized debt discount on the June Bridge Note. Interest expense totaled $187 for the three months ended June
30, 2025, compared to $0 for three months ended June 30, 2024. The Company recognized $2,939 and $0, respectively, of
amortization of debt discount included in interest expense on the statements of operations for the three months ended June 30,
2025 and 2024. Interest expense totaled $187 for the six months ended June 30, 2025, compared to $0 for six months ended
June 30, 2024. The Company recognized $2,939 and $0, respectively, of amortization of debt discount included in interest
expense on the statements of operations for the six months ended June 30, 2025 and 2024. As of June 30, 2025, there was $162,500
in outstanding principal on the June Bridge Note.

Outstanding
Principal on Notes

    Loan Payable
     
    Outstanding
        
        Principal 

    Unamortized
        
        Debt
        Discount

    Outstanding
        
        Principal,
        net of
        
        Debt
Discount 

    May Promissory Note
     
    $
    1,455,416

    $
    —

    $
    1,455,416

    February Bridge Note

    325,000

    (3,733
    )

    321,267

    May Bridge Note

    325,