Company: SHPH
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023263
Chunk: 5

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 4
Chunk 5
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 the second quarter of 2024 to bolster the Company’s internal technical accounting and
    financial reporting experience.

    ●
    Engaged
    a third-party consulting firm to assist with the preparation of SEC reporting and other technical accounting matters.

    ●
    Redesigned and implemented certain management review controls around the proper classification of operating expenses as research and development
and general and administrative.

The
Company will continue to review and improve its internal controls over financial reporting to address the underlying causes of the material
weaknesses and control deficiencies. Such material weaknesses and control deficiencies will not be fully remediated until the Company
has concluded that its internal controls are operating effectively for a sufficient period of time.

Remediation
of Previously Disclosed Material Weaknesses

As
previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2024, we identified a material weakness in
our internal controls over financial reporting for lack of a formal process to identify and ensure proper classification of expenses
as Research and Development. Our remediation efforts, including those noted above, were completed and the related controls were in
place for a sufficient period of time to conclude that this material weakness was remediated as of June 30, 2025.

Changes
in Internal Control over Financial Reporting

Except for the remediation efforts described above, there
has been no change in the Company’s internal control over financial reporting during the three months ended June 30, 2025 that
has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.
Management will continue to monitor and evaluate the effectiveness of our internal controls and procedures over financial reporting on
an ongoing basis and is committed to taking further action and implementing additional improvements as necessary.

32

PART
II - OTHER INFORMATION

ITEM
1. LEGAL PROCEEDINGS

There
are no material pending legal proceedings,  to which
the Company or any of its subsidiaries is a party or of which any of their property is the subject.

ITEM
1A. RISK FACTORS

As
a smaller reporting company, we are not required to provide the information required by this item.

ITEM
2. UNREGISTERED SALES OF SECURITIES AND USE OF PROCEEDS

None.

ITEM
3. DEFAULTS UPON SENIOR SECURITIES

Not
Applicable.

ITEM
4. MINE SAFETY DISCLOSURES

Not
Applicable.

ITEM
5. OTHER INFORMATION