Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 83

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 83
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 viability of the Company’s strategy to generate sufficient revenue, control costs, and
raise additional funds, when necessary, there can be no assurances to that effect. The Company’s ability to continue as
a going concern is dependent upon the ability to implement the business plan, generate sufficient revenues, raise capital, and
to control operating expenses.

7 

NOTE
3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis
of Presentation

The
accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles
generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and the rules and
regulations of the Securities and Exchange Commission (“SEC”). In the opinion of the Company’s management, the
accompanying condensed consolidated financial statements reflect all adjustments, consisting of normal, recurring adjustments,
considered necessary for a fair presentation of the results for the interim periods ended June 30, 2025 and 2024. Although management
believes that the disclosures in these unaudited condensed consolidated financial statements are adequate to make the information
presented not misleading, certain information and footnote disclosures normally included in condensed consolidated financial statements
that have been prepared in accordance U.S. GAAP have been omitted pursuant to the rules and regulations of the SEC.

The
accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s financial
statements and notes related thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31,
2024, filed with the SEC on March 27, 2025. The interim results for the three and six months ended June 30, 2025 are not necessarily
indicative of the results to be expected for the year ending December 31, 2025 or for any future interim periods.

Emerging
Growth Company

The
Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended (the
“Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”),
and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies
that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered
public accounting firm attestation requirements of Section 404 of the Sar