Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 1266

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 5
Chunk 1266
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Expense), net

For the year ended December 31, 2024, we recognized
$101,464 in other income compared to $83,116 in other expense for the year ended December 31, 2023. As a result of the IPO as well as
additional equity financing transactions completed in 2024, we have earned higher interest income from investing certain cash proceeds
in interest-bearing accounts and short-term certificates of deposit. We recognized interest income of $103,299 during the year ended
December 31, 2024 ($19,985 during the year ended December 31, 2023). Additionally, during the year ended December 31, 2024, we recognized
$10,789 in service revenue in association with the final payment from the USAMMDA for storing Arakoda purchases ($0 for the year ended
December 31, 2023), upon the final resolution of storage fees payable from the USAMMDA under the original development contract entered
into in 2014. As the development contract ended on August 31, 2022, additional storage revenue is not expected in the near future. Other
expense during the year ended December 31, 2023, was primarily related to net foreign exchange transaction losses as well as a one-time
write off of an uncollectible receivable from our 3PL for an uninvoiced return of $48,236.

52

5. Liquidity and Capital Resources

As of December 31, 2024, we had cash and cash
equivalents of $1,659,353 ($2,142,485 as of December 31, 2023). For the year ended December 31, 2024 and 2023, our net cash used in operating
activities was $5,648,088 and $4,542,910, respectively. To date, we have financed our operations primarily through the issuance of common
stock, warrants to purchase common stock, and proceeds from the issuance of convertible debt and promissory notes. Based on current internal
projections, taking into consideration the net proceeds of approximately $1.9 million received under the ATM Agreement, an additional
$5.127 million in cumulative net proceeds received from the September, 2024 Private Placement and 2025 offerings, and recent growth in
Arakoda sales, we estimate that we will have sufficient funds to remain viable through August 31, 2025, excluding the additional costs