Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 664

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1C
Chunk 664
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 received of $555,000, the Company recorded
a debt discount at the maximum amount allowed (the face amount of the debt less the original issue discount and issuance costs) and recorded
the excess as derivative expense. 

Derivative expense recorded during the year ended December 31, 2023
is summarized as follows:

    Commitment Date 
    May 8, 2023 
  
    Fair value of derivative liabilities 
    $954,725 
  
    Less: face amount of debt 
     (555,000)
  
    Derivative expense 
    $399,725 

A reconciliation of the beginning and ending
balances for the derivative liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is
as follows for the year ended December 31, 2024: 

    Contingent Milestone
    Payment  
    Total 
  
    Derivative liabilities –  December 31, 2023 
    $2,306,796  
    $2,306,796 
  
    Change in fair value 
     (1,665,966) 
     (1,665,966)
  
    Derivative liabilities – December 31, 2024 
    $640,830  
    $640,830 

A reconciliation of the beginning and ending
balances for the derivative liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is
as follows for the year ended December 31, 2023: 

    Bridge Shares  
    Warrants  
    Convertible Notes Payable  
    Contingent Milestone Payment  
    Total 
  
    Derivative liabilities – December 31, 2022 
    $834,352  
    $578,164  
    $81,684  
    $-  
    $1,494,200 
  
    Change in fair value 
     13,798  
     (15,320) 
     (1,312) 
     -  
     (2,834)
  
    Fair value at commitment date 
     680,276  
     274,449  
     -  
     -  
     954,725 
  
    Change in fair value prior to conversion or reclassification 
     (105,790) 
     1,455