Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 22

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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4 annual
period, and for interim periods beginning in 2025. The impact is limited to the Company’s financial statement disclosures, which
are presented in the Segment Information section above.

In December 2023, the FASB issued ASU 2023-09,
Income Taxes (ASC 740): Improvements to Income Tax Disclosures (“ASU 2023-09”) 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 annual periods 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.

13

In November 2024, the FASB issued ASU 2024-03,
Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income
Statement Expenses (“ASU 2024-03”), which applies to all public business entities that file financial statements with
the SEC. The amendments in this ASU require public business entities to disclose on an annual and interim basis, disaggregated information
about certain income statement expense line items. The new standard is effective for fiscal years beginning after December 15, 2026, with
early adoption permitted. The Company is currently evaluating the impact that ASU 2024-03 will have on its financial statement disclosures.

3. INVENTORY

Inventory consists of the following major classes:

    March 31,
 2025  
    December 31, 
2024 
  
    Raw Material (API) 
    $345,194  
    $- 
  
    Work in Process 
     284,883  
     284,883 
  
    Finished Goods 
     143,161  
     157,881 
  
    Inventory 
    $773,238  
    $442,764 

The Company regularly monitors its inventory levels
to identify inventory that may expire or has a cost basis in excess of its estimated net realizable value, and records write-downs for
inventory that has expired, inventory that has a cost basis in excess of its expected net realizable value, and inventory in excess of
expected sales requirements. Any write-downs of inventories are charged to Cost of Revenues in the Consolidated Condensed Statements of
Operations and Comprehensive (Loss) Income