Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 870

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 4
Chunk 870
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 fair market value of securities 
    $—  
    $(19,943)
  
    Prepaid expenses 
     (16,188) 
     (30,544)
  
    State income tax deferred 
     — 
     — 
  
    Fixed assets 
     (1,975) 
     (2,746)
  
    Total 
    $(18,163) 
    $(53,233)

    Total deferred tax asset 
    $5,055,279  
    $3,375,903 
  
    Less: valuation allowance 
     (5,055,279) 
     (3,375,903)
  
    Net deferred tax asset 
    $—  
    $— 

    F-28

A
reconciliation of the U.S. federal income tax rate to the Company’s effective tax rate is as follows:

Schedule of Effective Income Tax Rate Reconciliation  

    December 31,  
    December 31, 

    2024  
    2023 
  
    Federal income tax benefit at statutory rate 
     21.0% 
     21.0%
  
    State income tax benefit, net of federal tax effect 
     6.9% 
     6.9%
  
    Change in tax rate 
     —% 
     0.1%
  
    R&D tax credits 
     —% 
     3.6%
  
    Return to provision adjustments 
     (4.9)% 
     (4.3)%
  
    Permanent differences 

    Derivative Debt Discount Amortization 
     —% 
     (8.6)%
  
    Change in FMV of Warrant Liability 
     2.1% 
     9.4%
  
    Loss on convertible note conversion 
     (2.5)% 
     (2.0)%
  
    Disqualified Debt Interest Expense 
     (3.7)% 
     —%
  
    Other 
     —% 
     (1.9)%
  
    Change in valuation allowance 
     (18.3)% 
     (23.2)%
  
    Shortfall of stock compensation expense 
     (0.6)% 
     (0.6)%
  
    Other adjustments 
     —% 
     (0.4)%
  
    Total income tax