Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 626

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1C
Chunk 626
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 approved products by physicians
and consumers, and significant competition.

F-8

In addition, higher rates of inflation have resulted
in the U.S. Federal Reserve raising interest rates. Increases in interest rates, especially if coupled with reduced government spending
and volatility in financial markets, may further increase economic uncertainty and heighten these risks. Furthermore, if additional banks
and financial institutions enter receivership or become insolvent in the future in response to financial conditions affecting the banking
system and financial markets, the Company or its partners’ ability to access existing cash, cash equivalents and investments may
be threatened and could have a material adverse effect on the Company’s business and financial condition, including the Company’s
ability to access additional capital on favorable terms, or at all, which could in the future negatively affect the Company’s ability
to pursue its business strategy. 

Going Concern

The Company’s future results are subject to substantial risks
and uncertainties. Since its inception, the Company has not demonstrated the ability to generate enough revenues to date to cover operating
expenses and has accumulated losses to date. At December 31, 2024, the Company had cash and cash equivalents totaling $1,659,353, as compared
to cash and cash equivalents totaling $2,142,485 at December 31, 2023. During the year ended December 31, 2024, the Company used cash
of $5,648,088 in its operating activities ($4,542,910 during the year ended December 31, 2023). The Company’s capital commitments
over the next twelve months include interest payments on the Company’s debt arrangements of $8,772 and $1,007,618 to satisfy accounts
payable and accrued expenses.

To date, the Company has funded its operations primarily with proceeds
from sales of common stock and warrants for the purchase of common stock, sales of preferred stock, proceeds from the issuance of convertible
debt and borrowings under loan and security agreements.

Continuation as a going concern is dependent upon the Company’s
ability to meet its financial requirements, raise additional capital, and achieve gross profitability from the Company’s single
marketed product. To achieve profitability, the Company expects it will need to raise additional capital to fund its activities relating
to commercial support for its existing product and any future clinical research trials and operating activities. However, there can be
no assurance that it will ever achieve or maintain profitability. These conditions, among others, raise substantial doubt about the
ability of