Company: SHPH
Filing Date: 2025-01-15
Form Type: S-1
Source: 0001493152-25-002253
Chunk: 170

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-01-15
Form: S-1
Chunk 170
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830 |     | $ |          - |   |     | $ |          3,536,830 |

Use of Estimates

The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. Significant estimates are contained in the accompanying unaudited condensed consolidated financial statements for the recognition of research and development expenses, valuation of warrants and valuation of bifurcated derivative liabilities and other financial instruments.

| F-8 |

Cash and Cash Equivalents

Cash and cash equivalents include cash in bank accounts and money market funds with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. As of September 30, 2024 and December 31, 2023, cash and cash equivalents consisted of the following:

Schedule of Cash and Cash Equivalents

|                                 |     | 2024 | September 30, |     | 2023 | December 31, |
|:--------------------------------|:----|:-----|--------------:|:----|:-----|-------------:|
| Cash                            |     | $    |       155,652 |     | $    |    1,550,098 |
| Money market funds              |     |      |         1,004 |     |      |    1,026,318 |
| Total cash and cash equivalents |     | $    |       156,656 |     | $    |    2,576,416 |

Periodically, the Company may carry cash balances at financial institutions in excess of the federally insured limit of $ 250,000per institution. The amount in excess of the