Company: SXTPW
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001213900-25-014334
Chunk: 282

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-02-14
Form: S-1
Chunk 282
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                  |     | $                 | - |     | $       | - |     | $       | 1,494,200 |     | $     | 1,494,200 |

There were no transfers of financial instruments
between Level 1, Level 2, and Level 3 during the periods presented. However, certain liabilities measured at fair value and using Level
3 inputs were extinguished during the year. A rollforward of level 3 liabilities measured at fair value for the years ended December 31,
2023 and 2022 are presented in Notes 8 and 9 for Promissory Notes and Derivative Liabilities, respectively.

Assets and Liabilities Not Measured at Fair Value on a Recurring Basis

In addition to assets and liabilities that are
measured at fair value on a recurring basis, the Company also measures certain assets and liabilities at fair value on a nonrecurring
basis. The Company’s non-financial assets, including Intangible Assets and Property and Equipment, are measured at fair value when
there is an indication of impairment and the carrying amount exceeds the assets’ projected undiscounted cash flows. These assets
are recorded at fair value only when an impairment charge is recognized.

As of December 31, 2023 and 2022, the fair value
of Cash and Cash Equivalents, Accounts Receivable, Prepaid Expenses and Other Current Assets, and Accounts Payable and Accrued Expenses
approximated their carrying values due to the short-term nature of these assets and liabilities.

Foreign Currency Transactions and Translation

The individual financial statements of each group
entity are measured and presented in the currency of the primary economic environment in which the entity operates (its functional currency).
The consolidated financial statements of the Company are presented in US dollars, which is the functional currency of the Company and
the presentation currency for the consolidated financial statements.

F-47

For the purpose of presenting consolidated financial
statements, the assets and liabilities of the group’s foreign operations are mostly translated at exchange rates prevailing on the
reporting date. Income and expense items are translated at the average exchange rates for the period, unless exchange rates fluctuate
significantly during that period, in which case the exchange rates at the dates of the transactions are used. Exchange differences arising,
if any, are recognized as a component of other comprehensive income (loss) as Unrealized Foreign Currency Translation Gain (Loss).

Exchange rates along with historical rates used
in these financial statements are as follows:

| Currency |