Company: JUNS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023603
Chunk: 53

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 2
Chunk 53
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 the nine months ended September 30, 2024. The decrease in net cash provided by financing activities was primarily
related to the absence of financing transactions in the current period, compared to proceeds from related-party notes payable of $137,000
and proceeds from the sale of common stock of $50,000 during the nine months ended September 30, 2024.

Off-balance
sheet financing arrangements

We
have no obligations, assets or liabilities which would be considered off-balance sheet arrangements. We do not participate in transactions
that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which
would have been established for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance
sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased
any non-financial assets.

We
have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition,
changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that
is material to investors.

Business
Development Activities

The
Company initiated business development activities in the Asian region in 2021. The Company has a strong strategic interest in accelerating
the drug development and potential commercialization efforts of JOTROL in this market. Our Chairman & CEO, presented in person, our
company’s status and pipeline at the BIOHK 2023 conference in Hong Kong in September of 2023. The presentation led to several follow-on
meetings, and we have recently agreed to service agreements in the areas of business development, CMC (Chemistry, Manufacturing, and
Controls), regulatory affairs and clinical trial management. The Asian market is very large and hard to penetrate for a small company
and we believe that our strategy with these agreements is cost effective and have the possibility to accelerate an out-licensing deal
in the South-East Asian territories. However, there are no assurances that this approach will be successful.

The
agreements executed are very similar in nature that include an equity investment in our Company by the other party and in turn we issued
equity in the form of shares of common stock, in lieu of cash, for 3 years of services from each company.

The
Company believes these agreements to be favorable for both parties based on the cash position of the Company and the need for these activities
to be executed and enabling