Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 638

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 2
Chunk 638
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 interest expense of $1.2 million, which included amortization of debt discount
of $1.1 million. During the year ended December 31, 2024, the Company settled $1.4 million of principal and settled $0.1 million of accrued
interest, which settlements were made in the form of 797,345 shares of common stock. During the year ended December 31, 2024, the Company
paid $0.8 million of principal and $0.1 million of accrued interest for a total of $0.9 million. In relation to the settlements described
above, the convertible debt was settled by September 30, 2024 and the Company recognized a loss on settlement of convertible debt of
$0.8 million.

During
the year ended December 31, 2023, the Company recorded interest expense of $2.5 million, which included amortization of debt discount
of $2.1 million. During the year ended December 31, 2023, the Company settled $1.9 million of principal and settled $0.3 million of accrued
interest, which settlements were made in the form of 297,625 shares of common stock.

    F-20

Note
6 - Stockholders’ Equity

Common
Stock

During
the year ended December 31, 2024, the Company issued:

    ●
    797,345
    shares of common stock to settle $1.9 million of principal and $0.3 million of interest on a Convertible Note and incurred $0.8 of
    loss on settlement (see Note 5).

    ●
    395,574
    shares of common stock as part of a public offering.

    ●
    29,997
    shares of common stock issued for vesting of restricted stock units.

    ●
    729,246
    shares of common stock issued for the exercise of pre-funded warrants.

    ●
    115,716
    shares of common stock issued for the reverse stock split fractional share round up.

During
the year ended December 31, 2023, the Company issued:

    ●
    297,625
    shares of common stock to settle $1.9 million of principal and $0.3 million of interest on a Convertible Note and incurred $0.5 million
    of loss on settlement.

    ●
    10,650
    shares of common stock issued