Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 1507

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 6
Chunk 1507
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 of common stock. Proportional adjustments for the reverse stock split
were made to the Company’s outstanding stock options, warrants and equity incentive plans. All share and per-share data and amounts
have been retroactively adjusted as of the earliest period presented in the financial statements to reflect the reverse stock split.

On
June 14, 2024, the Company increased the number of authorized shares of common stock, $0.0001 par value per share, to 125,000,000 from
45,000,000.

On
June 14, 2024, the Company effected a fifteen-for-four (15:4) forward stock split whereby the Company (i) increased the number of issued
and outstanding shares of common stock, $0.0001 par value per share, from 8,033,706 to 30,126,413 and (ii) increased by a ratio of fifteen-for-four
(15:4) the number of retroactively issued and outstanding shares of common stock. Proportional adjustments for the forward stock split
were made to the Company’s outstanding stock options, warrants and equity incentive plans. All share and per-share data and amounts
have been retroactively adjusted as of the earliest period presented in the financial statements to reflect the forward stock split.

    F-7

JUPITER
NEUROSCIENCES, INC.

NOTES
TO FINANCIAL STATEMENTS

December
31, 2024 and 2023

Note
2 – Significant Accounting Policies

Basis
of presentation and Going Concern

The
financial statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States
of America (“U.S. GAAP”). U.S GAAP contemplates continuation of the Company as a going concern. For the year ended December
31, 2024 and 2023, the Company had no revenues from product sales and incurred a net loss of $2,439,625 and $4,783,689, respectively.
Net cash used in operations for the years ended December 31, 2024 and 2023 was $3,911,004 and $480,953, respectively. As of December
31, 2024, the Company had a working capital surplus and accumulated deficit of $2,641,110 and $26,022,129, respectively.

The
Company plans to finance future operations with proceeds from equity securities, grant awards and strategic collaborations. However,
there is no assurance the Company