Company: JUNS
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010990
Chunk: 54

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 54
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 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, net of underwriters’ and other fees of $1,274,787. On April 11, 2022, we issued
a senior secured convertible note in the principal amount of $1,111,111 in exchange for $1,000,000, which was paid down with the proceeds from the initial public offering.

For the three months ended
March 31, 2025 and March 31, 2024, we generated no revenues from product sales and reported net losses of $1,528,867 and $634,100, respectively,
and negative cash flow from operating activities of $1,063,041 and $65,165, respectively. There is substantial doubt regarding our ability
to continue as a going concern as a result of our historical recurring losses and negative cash flows from operations as well as our dependence
on financings.

Our failure to raise capital
as and when needed could have a negative impact on our financial condition and our ability to pursue our business strategies. We anticipate
that we will need to raise substantial additional capital, the requirements of which will depend on many factors, including:

    ●
    the scope, rate of progress and costs of our drug delivery, preclinical development activities, laboratory testing and clinical trials for our drug candidate;

    ●
    the number and scope of clinical programs we decide to pursue;

    ●
    the scope and costs of manufacturing