Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 544

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 544
---
 |   $4,297,287 |     |  $2,248163 |
| Stock-based compensation                |     |      470,245 |     |    518,174 |
| Accrued compensation                    |     |            — |     |    181,576 |
| Capitalized organizational costs        |     |            — |     |     22,016 |
| Capitalized intellectual property costs |     |            — |     |    620,440 |
| Interest expense limitation             |     |       24,664 |     |     36,202 |
| Capitalized R&D                         |     |      799,623 |     |          — |
| Total deferred tax assets               |     |    5,591,819 |     |  3,626,571 |
| Valuation allowance                     |     |   -5,591,819 |     | -3,626,571 |
| Net deferred tax assets                 |     |            — |     |          — |
| Deferred tax liabilities                |     |              |     |            |
| Total deferred tax liabilities          |     |            — |     |          — |
| Net deferred taxes                      |     |           $— |     |         $— |

For the years ended December 31, 2024 and 2023, the Company recorded a full valuation allowance of its deferred tax assets.

F-47

#### TABLE OF CONTENTS
The Company has a net operating loss carryforward for federal tax purposes totalling approximately $16.4 million at December 31, 2024. Approximately $16.4 million net operating losses incurred in fiscal 2018 through fiscal 2024 that do not expire and can be utilized to offset up to 80% of future taxable income under the Tax Cuts and Jobs Act.

Utilization of NOL and tax credit carryforwards may be subject to a substantial annual limitation due to ownership change limitations that may have occurred or that could occur in the future, as required by the Internal Revenue Code (the “Code”), as amended, as well as similar state provisions. In general, an “ownership change” as defined by the Code results from a transaction or series of transactions over a three-year period resulting in an ownership change of more than 50 percent of the outstanding stock of a company by certain stockholders or public groups.

#### NOTE 9 - SEGMENT DISCLOSURE
The clinical-stage biotech segment focused on developing and commercializing new