Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 810

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 2
Chunk 810
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ASC 280, including the new required disclosures under the ASU. The Company adopted ASU 2023-07 on a retrospective basis for the 2024
annual period, and for interim periods beginning in 2025. The impact is limited to the Company’s financial statement disclosures,
which are presented in the Segment Information section above.

In December 2023, the FASB issued ASU 2023-09,
Income Taxes (ASC 740): Improvements to Income Tax Disclosures (“ASU 2023-09”) which requires disaggregated information
about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. ASU 2023-09 is effective
for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact that
ASU 2023-09 will have on its financial statement disclosures.

In November 2024, the FASB issued ASU 2024-03,
Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation
of Income Statement Expenses (“ASU 2024-03”), which applies to all public business entities that file financial statements
with the SEC. The amendments in this ASU require public business entities to disclose on an annual and interim basis, disaggregated information
about certain income statement expense line items. The new standard is effective for fiscal years beginning after December 15, 2026,
with early adoption permitted. The Company is currently evaluating the impact that ASU 2024-03 will have on its financial statement disclosures.

F-18

3. INVENTORY

Inventory consists of the following major classes:

    December 31,  2024  
    December 31,  2023 
  
    Work in Process 
    $284,883  
    $278,987 
  
    Finished Goods 
     157,881  
     187,182 
  
    Inventory 
    $442,764  
    $466,169 

4. PROPERTY AND EQUIPMENT

As of December 31, 2024 and 2023, Property and Equipment, net consists
of:

    December 31,  
    December 31, 

    2024  
    2023 
  
    Lab Equipment 
    $233,411  
    $132,911 
  
    Machinery 
     55,