Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 97

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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85,244) 
     (75,141)
  
    Intangible Assets, net 
    $149,785  
    $157,084 

14

During the three months ended March 31, 2025 and
2024, the Company capitalized website development related costs of $0 and $9,088, respectively, in connection with the upgrade and enhancement
of functionality of the corporate website at www. 60degreespharma.com. Amortization expense for the three months ended March 31, 2025
and 2024, was in the amount of $10,103 and $8,207, respectively. During the three months ended March 31, 2025, there were no write-downs
for expired or obsolete patents ($8,378 for the three months ended March 31, 2024).

The following table summarizes the estimated future
amortization expense for our patents and website development costs as of March 31, 2025:

    Period 
    Patents  
    Website Development Costs 
  
    2025 (remaining nine months) 
    $5,175  
    $23,042 
  
    2026 
     6,899  
     12,432 
  
    2027 
     6,899  
     3,094 
  
    2028 
     6,899  
     - 
  
    2029 
     6,899  
     - 
  
    Thereafter 
     36,427  
     - 
  
    Total 
    $69,198  
    $38,568 

The Company has recorded $42,019 in capitalized
patent expenses that will become amortizable as the patents they are associated with are awarded.

6. STOCKHOLDERS’ EQUITY

Pursuant to the Certificate of Incorporation of
60 Degrees Pharmaceuticals, Inc., the Company’s authorized shares consist of (a) 150,000,000 shares of common stock, par value $0.0001
per share and (b) 1,000,000 shares of preferred stock, par value $0.0001 per share, of which 80,965 have been designated as Series A Non-Voting
Convertible Preferred Stock (“Series A Preferred Stock”). As of March 31, 2025, 1,472,891 shares of Common Stock and 76,480