Company: SXTPW
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001213900-25-014334
Chunk: 283

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-02-14
Form: S-1
Chunk 283
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     | Average Exchange Rate 
 Year Ended            
 December 31,          
 2023                  |     | 2022      |     | As of        
 December 31, 
 2023         |     | December 31, 
 2022         |
|:---------|:----|:----------------------|:----|:----------|:----|:-------------|:----|:-------------|
| 1 AUD =  |     | 0.66 USD              |     | 0.69 USD  |     | 0.68 USD     |     | 0.68 USD     |
| 1 SGD =  |     | NA                    |     | 1.02 AUD* |     | NA           |     | 1.02 AUD*    |

| * | Through 4/30/2022 (account closure date) |

Reclassifications

Certain prior period amounts have been reclassified
for consistency with the current period presentation. These reclassifications had no material effect on the consolidated results of operations
and comprehensive loss, shareholders’ and members’ equity (deficit), or cash flows.

Share-Based Payments

On November 22, 2022, the Company adopted the
2022 Equity Incentive Plan also referred to as (“2022 Plan”). The 2022 Plan and related share-based awards are discussed more
fully in Note 11.

The Company measures compensation for all share-based
payment awards granted to employees, directors, and nonemployees, based on the estimated fair value of the awards on the date of grant.
For awards that vest based on continued service, the service-based compensation cost is recognized on a straight-line basis over the requisite
service period, which is generally the vesting period of the awards. For service vesting awards with compensation expense recognized on
a straight-line basis, at no point in time does the cumulative grant date value of vested awards exceed the cumulative amount of compensation
expense recognized. The grant date is determined based on the date when a mutual understanding of the key terms of the share-based awards
is established. The Company accounts for forfeitures as they occur.

The Company estimates the fair value of all stock
option awards as of the grant date by applying the Black-Scholes option pricing model. The application of this valuation model involves
assumptions, including the fair value of the common stock, expected volatility, risk-free interest rate, expected dividends and the expected
term of the option. Due to the lack of a public