Company: PTHS
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001753926-25-001326
Chunk: 93

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 93
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mation of a Corporate Event (as defined in the February Bridge Note), or (iii)
when, upon or after the occurrence of an Event of Default (as defined in the February Bridge Note), such amounts are declared
due and payable by the Holder or made automatically due and payable in accordance with the terms of the February Bridge Note.

As
of June 30, 2025, there was $6,678 in accrued
interest and $3,733 unamortized debt discount on the February Bridge Note. Interest expense totaled $4,862 for the three
months ended June 30, 2025, compared to $0 for three months ended June 30, 2024. The Company recognized $52,524 and
$0, respectively, of amortization of debt discount included in interest expense on the statements of operations for the three
months ended June 30, 2025 and 2024. Interest expense totaled $6,678 for the six months ended June 30, 2025, compared to
$0 for six months ended June 30, 2024. The Company recognized $98,142 and $0, respectively, of amortization of debt
discount included in interest expense on the statements of operations for the six months ended June 30, 2025 and 2024. As of June
30, 2025, there was $325,000 in outstanding principal on the February Bridge Note.

February
Bridge Note Amendment

On
May 12, 2025, the Company executed a first amendment (the “February Bridge Note Amendment”) to the February Bridge
Note. The February Bridge Note Amendment extends the maturity date of the February Bridge Note from May 25, 2025 to September
30, 2025. Aside from extending the maturity date of the February Bridge Note, the February Bridge Note Amendment does not amend,
alter, restate or otherwise change the principal terms and conditions of the February Bridge Note.

May
Bridge Note

On
May 8, 2025, the Company issued an unsecured promissory note in the aggregate principal amount of $325,000 (the “May Bridge
Note”) to the Holder, for a purchase price of $250,000, pursuant to which the Company promises to pay the Holder or its
registered assigns the principal sum of $325,000 or such amount equal to the outstanding principal amount of the May Note together
with interest. The May