Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 1490

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 6
Chunk 1490
---
     (437,296) 
     5.5  
     -  
     - 
  
    Impact of non-U.S. earnings 
     (22,103) 
     0.3  
     (33,994) 
     0.9 
  
    Permanent differences 
     (347,008) 
     4.4  
     280,654  
     (7.4)
  
    Change in fair value of promissory note 
     -  
     -  
     (1,129,646) 
     29.6 
  
    Non-deductible interest expense 
     -  
     -  
     304,962  
     (8.0)
  
    Other reconciling items, net 
     30,411  
     (0.4) 
     2,042,657  
     (53.6)
  
    Change in valuation allowance 
     3,034,854  
     (38.1) 
     (298,919) 
     7.8 
  
    Benefit for Income Taxes 
    $250  
     0.0% 
    $250  
     (0.1)%

F-29

Significant components of the Company’s
deferred tax assets (liabilities) as of December 31, 2024 and 2023 are as follows:

    As of December 31, 

    2024  
    2023 
  
    Deferred tax assets: 

    Net operating loss carry-forward 
    $4,191,575  
    $3,498,043 
  
    Tax credits 
     437,296  
     - 
  
    Non-deductible reserves 
     44,733  
     1,058 
  
    Capitalized R&D costs 
     1,268,685  
     189,892 
  
    Lease liability 
     -  
     3,756 
  
    Share-based compensation 
     41,830  
     94,034 
  
    Gross deferred tax assets 
     5,984,119  
     3,786,783 
  
    Less valuation allowance 
     (5,915,350) 
     (3,088,051)