Company: SXTPW
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001213900-25-014334
Chunk: 303

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-02-14
Form: S-1
Chunk 303
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     |          | - |     |              | 2,720,939 |   |
| Accumulated Interest                    |     |          | - |     |              | 1,555,670 |   |
| Debenture                               |     | $        | - |     | $            | 4,276,609 |   |

SBA COVID-19 EIDL

On May 14, 2020, the Company received COVID-19 EIDL lending from the Small Business Administration (SBA) in the amount of $ 150,000. The loan bears interest at an annual rate of 3.75% calculated on a monthly basis. The Company was committed to make $ 731monthly payments first due June 4, 2021. On March 31, 2021, the SBA announced the deferment period was extended an additional eighteen months. Thus, the Company was first obligated to start making interest payments of $ 731on November 4, 2022. The balance as of December 31, 2023 and 2022 is $ 159,023and $ 163,022, respectively. The current maturity at December 31, 2023 is $ 8,772and the long-term liability is $ 150,251($ 2,750and $ 160,272at December 31, 2022, respectively). The loan is collateralized by all tangible and intangible personal property of the Company. The Company is prohibited from accepting future advances under any superior liens on the collateral without the prior consent of SBA.

F-60

The current future payment obligations of the principal are as follows:

| Period     |     | Principal 
 Payments  |         |
|:-----------|:----|:----------|--------:|
| 2024       |     | $         |       - |
| 2025       |     |           |       - |
| 2026       |     |           |     683 |
| 2027       |     |           |   3,228 |
| 2028       |     |           |   3,342 |
| Thereafter |     |           | 142,747 |
| Total      |     | $         | 150,000 |

Due to the deferral, the Company is expected to make a balloon payment of approximately $ 28,154to be due on 10/12/2050.

Related Party Advances

In March 2023