Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 924

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 5
Chunk 924
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.” There can be no assurance that the Company
will regain compliance with the Minimum Bid Price Requirement or maintain compliance with any of the other Nasdaq continued listing requirements.
The Company will continue to monitor the closing bid price of its common stock and will, as appropriate, consider available options to
regain compliance with the Minimum Bid Price Requirement.

On
September 10, 2024, the Company received a letter from Nasdaq, notifying the Company that it is no longer in compliance with the minimum
stockholders’ equity requirement for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires listed
companies to maintain stockholders’ equity of at least $2.5 million. In the Company’s Quarterly Report on Form 10-Q for the
period ended June 30, 2024, the Company reported stockholders’ equity of $801,434, which is below the minimum stockholders’
equity required for continued listing pursuant to Nasdaq Listing Rule 5550(b)(1). In addition, presently, the Company does not meet the
alternatives of market value of listed securities or net income from continuing operations.

On
October 15, 2024, the Company submitted a plan to Nasdaq to regain compliance and Nasdaq subsequently granted the Company until March
10, 2025 to regain compliance. We are now in the process of evaluating potential fundraising opportunities, have filed a preliminary
registration statement on Form S-1 with the intent of completing an up to $6.5 million public offering, and are working to complete the
offering on or prior to March 10, 2025. Nonetheless, there can be no assurance that the Company will be able to regain compliance prior
to March 10, 2025, or if the Company fails to satisfy another Nasdaq requirement for continued listing, Nasdaq could provide notice that
the Company’s securities will become subject to delisting. In that event, the Company will have an opportunity to appeal Nasdaq’s
decision to a hearings panel.

58

Results
of Operations

Comparison
of the year ended December 31, 2024 and 2023

The
following table summarizes the results of our operations:

    Years Ended  

    December 31,  

    2024  
    2023  
    Change  
    % 
  
    Revenue 
    $—  
    $—  
    $—  
     —