Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 489

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1C
Chunk 489
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 accrued expenses, $0.2 million of notes payable to related parties, and the current portion of our
operating lease liability of $0.1 million. The increase in current liabilities is primarily due to an increase in accounts payable and
accrued expenses of $0.2 million, notes payable to related parties of $0.2 million, and convertible note payable of $0.1 million, primarily
attributable to our efforts to preserve cash while we strive to raise funds to finance ongoing business and operations.

Cash
Flows

    Years Ended December 31,  

    2024  
    2023  
    Change  
    % 
  
    Cash used in operating activities 
     (7,327,230) 
     (5,581,147) 
     (1,746,083) 
     31%
  
    Cash used in investing activities 
     2,915,765  
     (2,829,723) 
     5,745,488  
     100%
  
    Cash provided by financing activities 
     3,755,193  
     2,570,083  
     1,185,110  
     46%
  
    Cash and cash equivalents on hand 
     1,920,144  
     2,576,416  
     (656,272) 
     (25)%

Cash
Flows from Operating Activities

Our
cash flows from operating activities are greatly influenced by our use of cash for operating expenses and working capital requirements
to support the business. We have historically experienced negative cash flows from operating activities as we invested in research and
development activities. The cash used in operating activities resulted primarily from our net losses adjusted for non-cash charges, which
are generally attributable to stock-based compensation, changes in fair value of our derivative liabilities and amortization of debt
discounts and finance fees, as well as changes in components of operating assets and liabilities, which are generally attributable to
increased expenses and timing of vendor payments.

During
the year ended December 31, 2024, net cash used in operating activities of $7.3 million was primarily due to our net loss of $9.1 million
and a change in derivative liability of $0.6 million, partially offset by $1.1 million of amortization of debt discount and finance fees
and $0.8 million of loss on