Company: JUNS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023603
Chunk: 154

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 154
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 arrangements that have or are reasonably likely to have a current or future effect on our financial condition,
changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that
is material to investors.

Business
Development Activities

The
Company initiated business development activities in the Asian region in 2021. The Company has a strong strategic interest in accelerating
the drug development and potential commercialization efforts of JOTROL in this market. Our Chairman & CEO, presented in person, our
company’s status and pipeline at the BIOHK 2023 conference in Hong Kong in September of 2023. The presentation led to several follow-on
meetings, and we have recently agreed to service agreements in the areas of business development, CMC (Chemistry, Manufacturing, and
Controls), regulatory affairs and clinical trial management. The Asian market is very large and hard to penetrate for a small company
and we believe that our strategy with these agreements is cost effective and have the possibility to accelerate an out-licensing deal
in the South-East Asian territories. However, there are no assurances that this approach will be successful.

The
agreements executed are very similar in nature that include an equity investment in our Company by the other party and in turn we issued
equity in the form of shares of common stock, in lieu of cash, for 3 years of services from each company.

The
Company believes these agreements to be favorable for both parties based on the cash position of the Company and the need for these activities
to be executed and enabling the possibility of a one or more out-licensing agreements in the territory.

29

Contractual
Obligations

We
do not have any long-term capital lease obligations, operating lease obligations or long-term liabilities, except as follows:

Notes
Payable to Related Parties and Other 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 September 30, 2025 and December 31, 2024 and 2023 was $146,432. The loan is due on demand and accrues interest at 3% per year.
Accrued interest relating to the loan was $4,350 and $1,064 as of September 30, 2025 and December 31, 2024, respectively, and is included
in accrued interest on the accompanying balance sheets. See Note 9 – Subsequent Events –