Company: SXTPW
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001213900-25-014334
Chunk: 288

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-02-14
Form: S-1
Chunk 288
---
 the new required disclosures under the ASU. The ASU is effective for all public entities with fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The ASU must be applied retrospectively. The Company is currently evaluating the impact that ASU 2023-07 will have on its financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (ASC 740): Improvements to Income Tax Disclosures, which requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact that ASU 2023-09 will have on its financial statement disclosures.

3. INVENTORY

Inventory consists of the following major classes:

|                      |     |   | December 
      31, 
     2023 |     |   | December 
      31, 
     2022 |   |
|:---------------------|:----|:--|---------:|:----|:--|---------:|:--|
| Raw Material (API)   |     | $ |        - |     | $ |  397,487 |   |
| Work in Process      |     |   |  278,987 |     |   |   97,486 |   |
| Finished Goods       |     |   |  187,182 |     |   |  183,943 |   |
| Total Inventory      |     |   |  466,169 |     |   |  678,916 |   |
| Reserve for Expiring 
 Inventory            |     |   |        - |     |   | (160,338 | ) |
| Inventory,           
 net                  |     | $ |  466,169 |     | $ |  518,578 |   |

4. PROPERTY AND EQUIPMENT

As of December 31, 2023 and 2022, Property and Equipment, net consists of:

|                                 |     | 2023 | December 31, |   |     | 2022 | December 31, |   |
|:--------------------------------|:----|:-----|-------------:|:--|:----|:-----|