Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 685

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 2
Chunk 685
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 time, upon 10 days written notice, for 107% of total outstanding balance (the “Optional Prepayment
Right”). Any outstanding principal will be paid in conversion of shares of common stock at the end of the Term, subject to the
Company’s exercise of the Optional Prepayment Right; any accrued interest will be repaid quarterly in cash. The conversion price
of the convertible notes will be the lower of a 15% discount to (i) $1.12072 per share or (ii) the price of any offering entered into
by the Company during the Term of the convertible notes, including the Company’s planned follow-on offering. The warrants are immediately
exercisable after issuance and will remain exercisable for a period of five years from the date of issuance. The exercise price is subject
to adjustment for any stock split, stock dividend, stock combination, recapitalization or similar event. As
of December 31, 2024, the outstanding loan balance is $250,000 and unpaid interest of $7,955.

Review,
Approval and Ratification of Related Party Transactions

All
related party transactions are subject to the review, approval, or ratification of our board of directors or an appropriate committee
thereof.

Item
14. Principal Accountant Fees and Services

The
following table represents fees for professional audit services for the audit of the Company’s annual financial statements for
the fiscal years ended December 31, 2024 and December 31, 2024 rendered by Forvis Mazars, LLP.

    Fiscal year ended December 31, 

    2024  
    2023 
  
    Audit Fees 1 
    $524,303  
    $429,555 
  
    Other Audit Fees 
    $-  
    $- 
  
    Tax Fees 2 
    $-  
    $- 

    Total fees 
    $524,303  
    $429,555 

    1.
    Audit
    fees consist of fees for professional services rendered by the principal accountant for the audit of the Company’s annual financial
    statements and review of the financial statements included in the Company’s Form 10-K and Form 10-Q and for services that are
    normally provided by the accountant in connection with statutory and regulatory filings or engagements. Fees include out of scope
    costs related to convertible notes and warrants.

    2.
    Tax
    fees consist of professional services rendered by our principal