Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 160

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 160
---
-  
    $150,000 
  
    Restricted
    stock issued for forgiveness of salary 
    $10,000  
    $2,158,050 
  
    Stock
    options issued for forgiveness of salary 
    $50,000  
    $2,614,790 
  
    Note
    payable, related party assigned to Note payable 
    $266,667  
    $- 
  
    Stock
    issued for exercise of options in exchange for note payable, related parties 
    $-  
    $100,000 
  
    Discount
    on convertible note payable 
    $-  
    $60,000 
  
    Stock issued for conversion of notes 
    $636,866  

The
accompanying notes are an integral part of these financial statements

F-6

JUPITER
NEUROSCIENCES, INC.

NOTES
TO FINANCIAL STATEMENTS

December
31, 2024 and 2023

Note
1 – Organization and Description of Business

Jupiter
Neurosciences, Inc. (the “Company”) is a clinical stage research and development pharmaceutical company located in Jupiter,
Florida. The Company incorporated in Delaware in January 2016. The Company has developed a unique resveratrol platform product primarily
targeting treatment of neuro-inflammation. The product candidate, called JOTROL, has many potential indications of use for rare diseases.
We are primarily targeting Mucopolysaccharidoses Type 1, Friedreich’s Ataxia, and MELAS. In the larger disease areas, we are primarily
targeting Parkinson’s Disease and Mild Cognitive Impairment/early Alzheimer’s disease.

On
August 30, 2021, the Company filed a Certificate of Amendment to the Certificate of Incorporation with the State of Delaware to change
its name from Jupiter Orphan Therapeutics, Inc. to Jupiter Neurosciences, Inc.

JOTROL
has the potential to deliver a therapeutically effective dose of resveratrol in the blood stream, using a unique patented micellar formulation,
without causing gastrointestinal side effects. We expect JOTROL, based on the results of our Phase I study, will resolve the major obstacle
of resveratrol’s poor bioavailability, which has been documented in various scientific articles describing previously conducted
human trials with resveratrol as well as preclinical trial results in mice and rats.

The
Company’s