Company: JUNS
Filing Date: 2025-11-26
Form Type: S-1
Source: 0001493152-25-025204
Chunk: 251

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-11-26
Form: S-1
Chunk 251
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 1.33in exchange for the aggregate forgiveness of compensation in the amount of $ 583,213.

On March 15, 2024, a former executive agreed to forgive $ 100,000of accrued compensation in exchange for 49,605options to purchase common stock and 7,500restricted stock units, The options to purchase common stock have a strike price of $ 1.33. The option had a grant date fair value of $ 50,000. The Company recorded a gain on the forgiveness of accrued compensation in the amount of $ 40,000.

On April 29, 2024, the Company, the Holder of the Note II and the CEO entered into an amendment in which the CEO agrees to exchange 685,867shares issued to the Holder in exchange for his related party notes that accrued interest at 3% that are due from the Company in an aggregate principal amount of $ 266,667and the Holder agreed to forfeit all rights to all additional future shares from the Company that would of become due upon a qualified offering as well as the conversion option. Therefore, the principal amount of the note was increased to $ 1,377,778and the exchange debt follows the requirements of Note II. See Note 5 – Convertible Debt and Derivative liability – Senior Secured Note – Formerly known as the Convertible Debt I for more details.

| F-12 |

JUPITER NEUROSCIENCES, INC.

NOTES TO FINANCIAL STATEMENTS

December 31, 2024 and 2023

Note 4 – Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consisted of the following:

Schedule of Accounts Payable and Accrued Expenses

|                                             |     |   | December 
 31, 2024 |     |   | December 
 31, 2023 |
|:--------------------------------------------|:----|:--|---------:|:----|:--|---------:|
| Accounts payable                            |     | $ |  278,676 |     | $ |  189,495 |
| Professional fees                           |     |   |   40,271 |     |   |  174,053 |
| License fee                                 |     |   |   75,000 |     |   |  150,000 |
| Credit cards                                |     |   |    2,536 |     |   |   32,466 |
| Total accounts payable and