Company: SHPH
Filing Date: 2025-02-13
Form Type: S-1
Source: 0001493152-25-006202
Chunk: 205

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-13
Form: S-1
Chunk 205
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 its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. Significant estimates are contained in the accompanying consolidated financial statements for the recognition of research and development expenses, valuation of warrants and valuation of bifurcated derivative liabilities and other financial instruments.

| F-29 |

Cash and Cash Equivalents

Cash and cash equivalents include cash in bank accounts and money market funds with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. As of December 31, 2023 and 2022, cash and cash equivalents consisted of the following:

Schedule of Cash and Cash Equivalents

|                      |     | 2023 | December 31, |     | 2022 | December 31, |
|:---------------------|:----|:-----|-------------:|:----|:-----|-------------:|
| Cash                 |     | $    |    1,550,098 |     | $    |    5,411,378 |
| Money market funds   |     |      |    1,026,318 |     |      |    3,005,825 |
| Total cash           
 and cash equivalents |     | $    |    2,576,416 |     | $    |    8,417,203 |

Periodically, the Company may carry cash balances at financial institutions in excess of the federally insured limit of $ 250,000per institution. The amount in excess of the FDIC insurance as of December 31, 2023 was approximately $ 1,849,000. The Company has not experienced losses on these accounts and management believes, based upon the quality of the financial institutions, that the credit risk with regard to these deposits is not significant.

Marketable Securities

Our investments in debt securities are carried at fair value. Investments in debt securities that are not classified as held-to-maturity are carried at fair value and classified as either trading or available-for-sale. Real