Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 474

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 11
Chunk 474
---
    $3,083,545  
    $2,429,544 
  
    Stock based compensation 
     1,272,925  
     1,031,860 
  
    Accrued salaries 
     382,288  
     395,899 
  
    Orphan drug credit 
     1,060,118  
     924,171 
  
    Derivative liability 
     -  
     370,572 
  
    Other 
     260,481  
     392,486 
  
    Total net deferred tax assets 
     6,059,357  
     5,544,532 
  
    Valuation allowance 
     (6,059,357) 
     (5,544,532)
  
    Total Deferred Tax Asset 
    $-  
    $- 

As
of December 31, 2024, the Company had federal and state (post-apportioned basis) net operating losses (“NOLs”) of $26 million,
as well as federal orphan drug tax credit carryforwards of approximately $1.06 million. Approximately $10.0 million of the foregoing
federal and state NOLs will expire at various dates from 2026 through 2043, if not limited by triggering events prior to such time. Under
the provisions of the Internal Revenue Code, changes in ownership of the Company, in certain circumstances, would limit the amount of
federal NOLs that can be utilized annually in the future to offset taxable income. In particular, Section 382 of the Internal Revenue
Code (“Section 382”) imposes limitations on an entity’s ability to use NOLs upon certain changes in ownership. If the
Company is limited in its ability to use its NOLs in future years in which it has taxable income, then the Company will pay more taxes
than if it were otherwise able to fully utilize its NOLs. The Company may experience ownership changes in the future as a result of subsequent
shifts in ownership of the Company’s capital stock that the Company cannot predict or control that could result in further limitations
being placed on the Company’s ability to utilize its federal NOLs.

A
valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. When determining the amount of net
deferred tax assets that are more likely than not to be realized, the Company assesses all available positive and negative