Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 347

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 347
---
, 2024, our management conducted an assessment of the effectiveness of our internal control over financial reporting
based on the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control-Integrated
Framework (2013 Framework).

Based on this assessment, our management concluded
that our internal control over financial reporting was not effective as of December 31, 2024, due to the existence of material weaknesses
in our internal control over financial reporting. These material weaknesses are described below:

1.Inadequate
                                            Design of Policies and Procedures: We did not design policies and procedures at a sufficient
                                            level of precision to support the operating effectiveness of controls to prevent and detect
                                            potential errors.

2.Lack
                                            of Documentation: There was a failure to maintain adequate documentation to evidence
                                            the operating effectiveness of certain control activities and a lack of proper levels of
                                            supervision and review of complex accounting matters.

3.Access
                                            Control and Segregation of Duties: Inadequate controls in place related to maintaining
                                            appropriate access to certain systems and maintaining appropriate segregation of duties within
                                            those systems.

59

Management has undertaken a remediation plan
to address these material weaknesses. During the year ended December 31, 2024, we continued to enhance our internal control over financial
reporting through various initiatives, including investing in information technology systems, enhancing the organizational structure,
providing guidance and training to employees and further developing detailed policies and procedures.

We expect to remediate these material weaknesses
in the first half of 2025. However, there may be additional material weaknesses identified that could require additional time and resources
to remediate. We remain committed to ensuring that our internal control over financial reporting is designed and operating effectively.

Although we did not include an attestation report
of the independent registered public accounting firm in this Annual Report on Form 10-K, we acknowledge the deficiencies in our internal
control over financial reporting and are actively working towards remediation and improvement. We will continue to monitor and evaluate
the effectiveness of our internal control over financial reporting to ensure timely and accurate financial reporting.

Attestation Report on Internal Control
over Financial Reporting

This Annual Report on Form 10-K does not include
an attestation report of our independent registered public accounting firm due to the deferral allowed under the Jumpstart Our Business
Startups Act of 2012 for emerging growth companies.

Changes in Internal Control over Financial
Reporting

Other than with respect to the remediation