Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 919

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 2
Chunk 919
---
 Years Ended December 31, 

    2024  
    2023 
  
    Net cash used in operating activities 
    $(3,911,004) 
    $(480,953)
  
    Net cash used in investing activities 
     -  
     - 
  
    Net cash provided by financing activities 
    $7,652,036  
    $445,000 
  
    Net increase (decrease) in cash 
    $3,741,032  
    $(35,953)
  
    Cash - beginning of the period 
    $   
    $  
  
    Cash - end of the period 
    $3,769,510  
    $28,478 

Net
Cash Used in Operating Activities:

Net
cash used in operating activities during the year ended December 31, 2024 increased $3,430,051 from December 31, 2023 mainly
attributable to an increase of $2,300,000 in prepaid contracts due to stock issuances associated with Asian Business Development
service agreements, an increase of $118,796 in other current assets, a decrease of $2,187,051 in accrued compensation, a decrease of
$314,412 in accounts payable and accrued expenses, a decrease of $1,517,085 in changes associated with debt (amortization of debt
discounts, loss on extinguishment of debt, gain/loss on change in fair value of derivative liabilities, and increase in accrued
interest), an increase in amortization of prepaid contracts of $54,612, an increase of $642,329 in stock-based compensation,
partially offset a decrease of $2,334,064 in Net Loss.

Net
Cash Used in Investing Activities:

No
net cash was provided by or used in investing activities during the years ended December 31, 2024 and 2023.

Net
Cash Provided by Financing Activities:

Net
cash provided by financing activities for the year ended December 31, 2024 increased by $7,207,036 from the year ended December 31,
2023. The increase is mainly attributed the proceeds raised from the Company’s initial public offering, net of offering costs
of $9,725,213 partially offset by the repayments of notes payables of $2,361,677.

Off-balance
sheet financing arrangements

We
have no obligations, assets or liabilities which would be considered off-balance sheet arrangements. We do