Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 243

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9C
Chunk 243
---

Company’s Chief Executive Officer (CEO) has loaned the Company working capital since inception. The balance of the loans to the
CEO as of December 31, 2024 and 2023 was $146,432 and $358,479, respectively. The loan is due on demand and accrues interest at 3% per
year. Accrued interest relating to the loan was $1,064 and $11,308 as of December 31, 2024 and 2023, respectively, and is included in
accrued interest on the accompanying balance sheets. The Company repaid a total of $100,000 during the year ended December 31, 2024,
$83,880 in principal and $16,120 in accrued interest.

During
the year ended December 31, 2023, an employee loaned the Company $25,000. The balance of the loan as of December 31, 2024 and 2023, was
$0 and $25,000, respectively. The loan is due on demand and accrues interest at 3% per year. Accrued interest related to the loan was
$0 and $723 as of December 31, 2024 and 2023, respectively, and is included in accrued interest on the accompanying balance sheet. The
Company repaid a total of $26,422 during the year ended December 31, 2024, $25,000 in principal and $1,421 in accrued interest.

On
April 29, 2024, the Company, the Holder of the Note II and the CEO entered into an amendment in which the CEO agrees to exchange 685,869
shares issued to the Holder in exchange for his related party notes that accrued interest at 3% that are due from the Company in an aggregate
principal amount of $266,667 and the Holder agreed to forfeit all rights to all additional future shares from the Company that would
of become due upon a qualified offering and the conversion feature of the note. In addition, the Holder agreed to extend the note maturity
date to August 11, 2024. The note shall be designated as a 10% original issue discount secured note (“Senior Secured Note”)
moving forward. The note and interest will become due and payable upon the earliest of the maturity date or upon the occurrence of a
qualified event.

Other
Related Party Transactions

Accrued
compensation includes partially accrued salaries to