Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 10

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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. Furthermore, if additional banks
and financial institutions enter receivership or become insolvent in the future in response to financial conditions affecting the banking
system and financial markets, the Company or its partners’ ability to access existing cash, cash equivalents and investments may
be threatened and could have a material adverse effect on the Company’s business and financial condition, including the Company’s
ability to access additional capital on favorable terms, or at all, which could in the future negatively affect the Company’s ability
to pursue its business strategy. 

Going Concern

The Company’s future results are subject to substantial risks
and uncertainties. Since its inception, the Company has not demonstrated the ability to generate enough revenues to date to cover operating
expenses and has accumulated losses to date. At March 31, 2025, the Company had cash and cash equivalents totaling $3,451,500, as compared
to cash and cash equivalents totaling $1,659,353 at December 31, 2024. During the three months ended March 31, 2025, the Company used
cash of $1,597,366 in its operating activities. The Company’s capital commitments over the next twelve months include interest payments
on the Company’s debt arrangement of $8,772 and $1,157,979 to satisfy accounts payable and accrued expenses.

To date, the Company has funded its operations
primarily with proceeds from sales of common stock and warrants for the purchase of common stock, sales of preferred stock, proceeds from
the issuance of convertible debt and borrowings under loan and security agreements.

6

Continuation as a going concern is dependent upon
the Company’s ability to meet its financial requirements, raise additional capital, and achieve gross profitability from the Company’s
single marketed product. To achieve profitability, the Company expects it will need to raise additional capital to fund its activities
relating to commercial support for its existing product and any future clinical research trials and operating activities. However, there
can be no assurance that it will ever achieve or maintain profitability. These conditions, among others, raise substantial doubt about
the ability of the Company to continue as a going concern for one year from the date these consolidated condensed financial statements
are issued.

Management plans to fund operations of the Company
through third party and related party debt/advances, private placement of restricted securities and the issuance of stock in a subsequent
offering until such a time as the business achieves profitability or a business combination may be achieved. However, there can be no