Company: JUNS
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024684
Chunk: 6

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Item 8
Chunk 6
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3 – Related Party Transactions

Note payable, related party

Since
inception, from time to time, the Company’s Chief Executive Officer (CEO) loaned the Company working capital. The
balance outstanding, totaling $146,432 at
both June 30, 2025 and December 31, 2024, is due on demand and accrues interest at 3%
per annum. Accrued but unpaid interest relating to the loan totaled $3,242 and
$1,064 as
of June 30, 2025 and December 31, 2024, respectively, and is included in accrued interest on the accompanying condensed consolidated
balance sheets.

    12

JUPITER
NEUROSCIENCES, INC.

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JUNE
30, 2025

Note
3 – Related Party Transactions, continued

Equity Instruments Exchanged for Accrued Compensation

In March 2024,  in exchange for the
issuance of 49,605 stock options, with a strike price of $1.33, and 7,500 restricted stock units (“RSUs”), a former executive
relinquished his right to received $100,000 of previously accrued, but unpaid compensation The grant date fair value of the stock options
and RSUs totaled $60,000, resulting a $40,000 gain, which is included other income in the accompanying 2024 statement of operations.

Note
4 – Accounts Payable and Accrued Expenses

Accounts
payable and accrued expenses consisted of the following:

Schedule
of Accounts Payable and Accrued Expenses

    June 30, 2025  
    December 31, 2024  
  
    Accounts payable 
    $465,093  
    $278,676 
  
    Professional fees 
     70,890  
     40,271 
  
    License fee 
     37,500  
     75,000 
  
    Credit cards 
     481  
     2,536 
  
    Total accounts payable and accrued expenses 
    $573,964  
    $396,483 

Accrued
compensation of $1,857,919
and $1,415,093
as of June 30, 2025 and December 31, 2024, respectively, includes amounts due to certain executives and board fees