Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 1526

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 6
Chunk 1526
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 agreements. As of December 31,
2024, the Company recorded compensation expense for services provided of $893,781 related to the restricted shares issued.

See
Note 5 – Convertible Debt and Derivative Liability for shares issued upon the conversion of the convertible notes. See Note 8 –
Commitment and Contingencies – Service agreements for details related to sale of common stock per the service agreements.

    F-18

JUPITER
                                            NEUROSCIENCES, INC.

NOTES
TO FINANCIAL STATEMENTS

December
31, 2024 and 2023

Note
6 – Stockholders’ Equity (Deficit), continued

Closing
of Offering

On
December 2, 2024, the Company priced its initial public offering of 2,750,000 shares of common stock at a price of $4.00 per share. The
offering closed on December 4, 2024, and the Company started trading on the Nasdaq Capital Market under the ticker symbol “JUNS”.
The Company sold 2,750,000 shares of its Common Stock to the underwriters and yielded proceeds of $9,725,213, net of underwriters and
other fees of $1,274,787.

The
Company intends to use the proceeds primarily to fund the Phase II clinical trial of its product candidate JOTROL™ in patients
with Parkinson’s Disease, Strategic Service Agreements to accelerate business activities in South-East Asia, research and development
activities regarding evaluation of new product opportunities, payment of the outstanding annual license fees due to Aquanova AG, the
repayment of debt, working capital and other general corporate purposes.

Stock
Options

The
Company grants stock awards to officers, employees, directors, and other key persons pursuant to its 2021 Equity Incentive Plan (“the
Plan”).

During
the year ended December 31, 2024 and 2023, the Company recognized stock-based compensation of $947,124
and $1,198,579,
respectively, related to vested stock options. There was $355,829
unvested stock options expense as of December 31, 2024.

On
January 1, 2023, the Company granted a non-qualified stock option to purchase 562,500 shares of Common Stock to our Chief Financial Officer,
at an exercise price of $1.33 per share. The option had a grant date fair value of $589,500