Company: SHPH
Filing Date: 2025-01-15
Form Type: S-1
Source: 0001493152-25-002253
Chunk: 204

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-01-15
Form: S-1
Chunk 204
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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 December 31, 2023 and 2022, cash and cash equivalents consisted of the following:

Schedule of Cash and Cash Equivalents

|                      |     | 2023 | December 31, |     | 2022 | December 31, |
|:---------------------|:----|:-----|-------------:|:----|:-----|-------------:|
| Cash                 |     | $    |    1,550,098 |     | $    |    5,411,378 |
| Money market funds   |     |      |    1,026,318 |     |      |    3,005,825 |
| Total cash           
 and cash equivalents |     | $    |    2,576,416 |     | $    |    8,417,203 |

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 FDIC insurance as of December 31, 2023 was approximately $ 1,849,000. The Company has not experienced losses on these accounts and management believes, based upon the quality of the financial institutions, that the credit risk with regard to these deposits is not significant.

Marketable Securities

Our investments in debt securities are carried at fair value. Investments in debt securities that are not classified as held-to-maturity are carried at fair value and classified as either trading or available-for-sale. Realized and unrealized gains and losses on trading of debt securities are charged to income.

As of December 31, 2023, the marketable securities held by the Company, which are classified as trading marketable securities, consisted of an outstanding balance of $ 2,887,215. During the year ended December 31, 2023, the Company recognized interest income of $ 52,855, realized gains of $ 4,970, and unrealized gains of $ 71,568. The were nomarketable securities as of December 31, 2022.

Fair Value of Financial Instruments

The Company follows accounting guidelines on fair value measurements for financial instruments measured on a recurring basis, as well as for certain assets