Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 2384

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 15
Chunk 2384
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$750,000. In addition, the Amendment extended the termination date of the Repurchase Plan from December 31, 2024 to June 30, 2025,
prior to which Common Stock may be repurchased, unless completed sooner or otherwise extended.

Chromocell
Holdings Share Transfers

On
December 18, 2024, 747,187 shares of Common Stock and 2,600 shares of Series C Preferred Stock held by Chromocell
Holdings were transferred by the Company to Alexandra Wood (Canada) Inc. (“AWI”) in satisfaction of a default judgement
against Chromocell Holdings regarding the default by Chromocell Holdings of a secured promissory note by order of the Supreme
Court of the State of New York, County of New York on November 25, 2024 in the matter Alexandra Wood (Canada) Inc v. Chromocell
Corp., Index No. 651735/2024. AWI subsequently transferred 173,000 shares of Chromocell Holding’s Common Stock that
it received such that AWI now owns 574,187 shares of the Common Stock originally issued to Chromocell Holdings in connection with
the Contribution Agreement.

Options

During
the year ended December 31, 2024, the Company granted a total of 684,000 stock options related to the Company’s
common stock. These stock options had a life of 10 years and an exercise price of $1.30 or $0.73 per option. During
the year ended December 31, 2023, the Company granted a total of 158,670 stock options. These stock options had a life
of 10 years and an exercise price of $22.68 per option.

During
the years ended December 31, 2024 and 2023, the fair value of each stock option granted was estimated using the Black-Scholes
Option Pricing Model using the following inputs:

 Schedule
of fair value of each stock option granted

    For
    the Year 
Ended 
December 31, 2024

    For
    the Year 
Ended 
December 31, 2023

    Exercise price
     
    $
    0.73-1.30

    $
    22.68

    Expected dividend yield

    0
    %

    0
    %

    Risk free interest rate

    4.20