Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 129

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 129
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 was
$1,702,518 for the three months ended March 31, 2025, as compared to net cash used in investing activities of $9,814 for the three months
ended March 31, 2024. For the three months ended March 31, 2025, we received proceeds of $1,708,000 from maturities of certain short-term
investments in certificates of deposit ($0 for the three months ended March 31, 2024). The cash proceeds are partially offset by higher
capitalized patent costs of $2,804 and fixed asset purchases of $2,678 for the three months ended March 31, 2025 ($726 and $0 for the
three months ended March 31, 2024, respectively). However, we did not capitalize website development costs for the three months ended
March 31, 2025 ($9,088 capitalized for the three months ended March 31, 2024 associated with enhancements to the functionality of our
corporate website).

Cash Provided by Financing Activities

Net cash provided by financing activities was
$1,696,899 for the three months ended March 31, 2025, as compared to $1,903,291 for the three months ended March 31, 2024. The decrease
in net cash provided by financing activities is mainly attributable to net proceeds of $1,898,296 received in connection with our common
stock and warrant offering in January 2024, which exceeded the aggregate net proceeds of $1,712,973 received in connection with our common
stock and warrant offerings completed in January 2025 and February 2025. We also received lower proceeds from the exercise of warrants
at $1,926 for the three months ended March 31, 2025, compared to $4,995 for the three months ended March 31, 2024. Additionally, for the
three months ended March 31, 2025, we withheld shares valued at $18,000 to cover tax withholdings for net share settlement of certain
2024 performance bonuses awarded to our executives ($0 for the three months ended March 31, 2024).

Effect of Foreign Currency Translation on Cash

Our foreign operations were small relative to
U.S. operations for the three months ended March 31, 2025 and March 31, 2024, thus effects of foreign currency translation have been minor.

Critical Accounting Policies, Significant Judgments,