Company: JUNS
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010990
Chunk: 25

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 25
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 March 31, 2025 compared to $472,028 for the three months ended March 31, 2024. The
increase is due to employees receiving their full salaries in the current period compared to the prior period.
In addition, there was an increase in legal and professional fees in the current period compared to the prior period as a direct result
of the Company being listed on a public exchange. Lastly, the increase in general and administrative expenses is attributed to an increase
in insurance expenses and consulting fees. This is a direct result of the Company expanding its operations in the current period compared
to the prior period.

Interest Expense

Interest expenses were
$1,229 for the three months ended March 31, 2025, compared to $65,756 for the three months ended March 31, 2024. Interest expense is
primarily attributable to interest expense associated with our previously outstanding notes payable, convertible notes payable,
notes payable to our Chief Executive Officer, and interest expense on our corporate credit card. The decrease in interest expense is
directly attributed to the conversion and repayment of our convertible notes in prior periods; therefore, no new interest expense is
being incurred in the current period.

Loss on Change in Fair Value of Derivative
Liability

At each quarter end during
these years, the variable conversion options embedded in our convertible notes were marked to market, and the change in fair value of
the derivative was recorded as a loss of $37,711 for the three months ended March 31, 2024. There were no derivative liabilities during
the current period.

25

For the three months ended March
31, 2024, derivative liabilities were marked to market, and the resulting change in fair value of the derivative was recorded as
a loss of $37,711. There were no derivative liabilities during the current period.

Liquidity and Capital
Resources; Plan of Operations

Historically, we have financed
our operations primarily by selling common stock and convertible debt. 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,