Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 273

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9C
Chunk 273
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 31, 2024.

The Company’s Chief Executive Officer serves as the CODM.

All
other newly issued accounting pronouncements that are not yet effective have been deemed immaterial or nonapplicable.

Note
3 – Related Party Transactions

The
Company’s Chief Executive Officer (CEO) has loaned the Company working capital since inception. The balance of the loans to the
CEO as of December 31, 2024 and 2023 was $146,432 and $358,479, respectively. The loan is due on demand and accrues interest at 3% per
year. Accrued interest relating to the loan was $1,064 and $11,308 as of December 31, 2024 and 2023, respectively, and is included in
accrued interest on the accompanying balance sheets. The Company repaid a total of $100,000 during the year ended December 31, 2024,
$83,880 in principal and $16,120 in accrued interest.

    F-12

JUPITER
NEUROSCIENCES, INC.

NOTES
TO FINANCIAL STATEMENTS

December
31, 2024 and 2023

Note
3 – Related Party Transactions, continued

During
the year ended December 31, 2023, an employee loaned the Company $25,000. The balance of the loan as of December 31, 2024 and 2023, was
$0 and $25,000, respectively. The loan is due on demand and accrues interest at 3% per year. Accrued interest related to the loan was
$0 and $723 as of December 31, 2024 and 2023, respectively, and is included in accrued interest on the accompanying balance sheet. The
Company repaid a total of $26,422 during the year ended December 31, 2024, $25,000 in principal and $1,421 in accrued interest.

Accrued
compensation includes partially accrued salaries to executives since inception. Since inception, executive salaries have been paid in
cash when the Company’s cash flow has permitted such payment. During 2020, the Company began consistently paying salaries at 50%
of the salaries reflected in the respective employment agreements. As of September 2021, the Company began paying full salaries. Throughout
2022, the Company returned to paying partial salaries and by November 2022 the Company stopped paying