Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 296

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1A
Chunk 296
---
315 of CAM cost, was due and paid on execution of the lease agreement. Alexandria Real Estate (ARE-QRS-CORP) is
the beneficiary of the LOC, and the expiry date of the LOC is March 1, 2025.

The
following summarizes the right-of use asset and lease information for the Company’s operating leases:

 Schedule of Right-of Use Asset and Lease Information about Operating Lease

    2024  
    2023 

    Years Ended 

    December 31, 

    2024  
    2023 
  
    Operating lease cost 
     91,787  
     112,022 
  
    Variable lease cost 
     41,257  
     24,222 
  
    Sublease income 
     (6,489) 
     (7,819)
  
    Total lease cost 
     126,555  
     128,425 

    Other information: 

    Cash paid for operating cash flows for operating leases 
     91,502  
     95,641 
  
    Right-of-use assets obtained in exchange for new operating lease liabilities 
     —  
     365,556 

    Weighted-average remaining lease term - operating leases (year) 
     3.67  
     4.67 
  
    Weighted-average discount rate - operating leases 
     10.48% 
     10.48%

Future
non-cancelable minimum lease payments under the operating lease liability as of December 31, 2024, are as follows:

 Schedule of Future Non-cancelable Minimum Lease Payments Under Operating Lease Liability

    Years ended December 31, 

    2025 
     94,247 
  
    2026 
     97,074 
  
    2027 
     99,986 
  
    2028 
     68,235 
  
    2029 and thereafter 
     — 
  
    Total future minimum lease payments 
     359,542 
  
    Less: imputed interest 
     (60,545)
  
    Present value of payments 
    $298,997 

    F-16

Note
4 – Notes Payable-Related Party

On
October 14, 2024, as part of the senior convertible note offering described in Note 5, the Company entered into a loan with an officer
of the Company