Company: SHPH
Filing Date: 2025-02-13
Form Type: S-1
Source: 0001493152-25-006202
Chunk: 195

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-13
Form: S-1
Chunk 195
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Index to Financial Statements</div>

| Report of Independent Registered Public Accounting Firm – Forvis Mazars, LLP (PCAOB ID 686)                          
 Consolidated Balance Sheets as of December 31, 2023 and 2022                                                         
 Consolidated Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, 2023 and 2022 | Page 
 F-21 
 F-22 
 F-23 |
|:---------------------------------------------------------------------------------------------------------------------|:-----|
| Consolidated Statements of Changes in Stockholders’ Equity for the years ended December 31, 2023 and 2022            | F-24 |
| Consolidated Statements of Cash Flows for the years ended December 31, 2023 and 2022                                 | F-25 |
| Notes to Consolidated Financial Statements                                                                           | F-26 |

| F-20 |

<div align='center'>Report of Independent Registered Public Accounting Firm</div>

To the Shareholders, Board of Directors, and Audit Committee of

Shuttle Pharmaceuticals Holdings, Inc.

Opinion on the Consolidated Financial Statements

We have audited the accompanying consolidated balance sheets of Shuttle Pharmaceuticals Holdings, Inc. and subsidiaries (the “Company”) as of December 31, 2023 and 2022, the related consolidated statements of operations, changes in stockholders’ equity, and cash flows for each of the years in the two-year period ended December 31, 2023, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023 and 2022, and the results of its operations and its cash flows for each of the years in the two-year period ended December 31, 2023, in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Restatement of Previously Issued Financial Statements

As discussed in Note 2 to the financial statements, the 2023 and 2022 financial statements have been restated to correct misstatements.

Going Concern

The accompanying financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company has suffered recurring losses and negative cash flows from operations since inception. These conditions, along with other matters as set forth in Note 1, raise substantial doubt about the Company’s ability to continue as a going concern.