Company: SHPH
Filing Date: 2025-02-13
Form Type: S-1
Source: 0001493152-25-006202
Chunk: 181

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-13
Form: S-1
Chunk 181
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     |   |  94,247 |   |
| 2026                                                      |     |   |  97,074 |   |
| 2027                                                      |     |   |  99,986 |   |
| 2028                                                      |     |   |  68,235 |   |
| 2028                                                      |     |   |         |   |
| Total future minimum lease payments                       |     | $ | 382,698 |   |
| Less imputed interest                                     |     |   | (68,441 | ) |
| Present value of payments                                 |     | $ | 314,257 |   |

Note 4 – Notes Payable-Related Party

On September 4, 2024, the Company issued a $ 250,000promissory note (the “Promissory Note”) to an officer of the Company for $ 250,000. The Promissory Note accrues interest at 12% per annum and is repayable in 12 substantially equal installments over a period of one year. During the three and nine months ended September 30, 2024 the Company incurred $ 2,137and $ 2,137, respectively, in interest expense relating to this Promissory Note. During the three and nine months ended September 30, 2024 the Company did not pay any principal or accrued interest.

On December 1, 2020, the Company consolidated all of the outstanding loans owed to an officer of the Company and to his spouse, resulting in the following two loans: (i) a single loan from the spouse of an officer of the Company, dated December 1, 2020, with a principal balance of $ 426,243, bearing interest at the rate of 7.5% per annum, with a maturity date of December 31, 2021; and (ii) a single loan owed to an officer of the Company in the principal amount of $ 139,229, bearing interest at the rate of 7.5% per annum, with a maturity date of December 31, 2021. In December of 2021, the maturity dates of these loans were further extended to June 30, 2022. In July of 2022, the notes were extended to June 30, 2023.

| F-13 |

On June 21, 2021, the Company entered into a loan from the spouse of an officer of the