Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 1888

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 8
Chunk 1888
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 improvements are capitalized. The cost of assets
retired or otherwise disposed of and the related depreciation are eliminated from the accounts in the period of disposal and the resulting
gain or loss is credited or charged to earnings.

Depreciation is computed over the estimated useful
lives of the related asset type or term of the operating lease using the straight-line method for financial statement purposes. The estimated
service lives for Property and Equipment is either three (3), five (5) or seven (7) years.

Impairment of Long-lived Assets

Long-lived assets, such as property and equipment
and identifiable intangibles with finite useful lives, are periodically evaluated for impairment whenever events or changes in circumstances
indicate that the carrying amount of an asset may not be recoverable. The Company monitors for potential indicators of a trigger event
for asset impairment, including whether there is an adverse change in the extent or manner in which an asset is being used or its physical
condition. Assets are grouped and evaluated for impairment at the lowest level of which there are identifiable cash flows, which is generally
at a location level. Assets are reviewed using factors including, but not limited to, future operating plans and projected cash flows.
The determination of whether impairment has occurred is based on an estimate of undiscounted future cash flows directly related to the
assets, compared to the carrying value of the assets. If the sum of the undiscounted future cash flows of the assets does not exceed
the carrying value of the assets, full or partial impairment may exist. If the asset’s carrying amount exceeds its fair value,
an impairment charge is recognized in the amount by which the carrying amount exceeds the fair value of the asset. Fair value is determined
using an income approach, which requires discounting the estimated future cash flows associated with the asset.

Intangible Assets

The Company capitalizes its patent and filing
fees and legal patent and prosecution fees in connection with internally developed pending patents. When pending patents are issued,
patents will be amortized over the expected period to be benefitted, not to exceed the patent lives, which may be as long as ten to fifteen
years.

Website Development Costs

The Company accounts for website development
costs in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”)
Subtopic No. 350-50, Website Development Costs. Accordingly, all costs incurred in the planning stage are expensed as incurred,
costs incurred in the website application and infrastructure development stage that meet