Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 1756

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 7A
Chunk 1756
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 into a three 36-month service agreement with three different entities. The Company issued an aggregate
of 3,487,500 restricted shares of common stock, 1,162,500 restricted shares of common stock to each entity. The shares were registered
upon the Company’s offering that closed in December 2024. In addition, each of the entities purchased 37,500 shares each of the
Company’s common stock at a price of $1.33 per share prior to the occurrence of the Company’s offering. As of December, 31,
2024, the Company issued 112,500 common stock and the Company received an aggregate of $150,000 for the sale of the Company’s common
stock from the three entities. These shares were also registered upon the closing of the Company’s offering. The aggregate value
of $4,638,375 related to the 3,487,500 restricted shares will be recognize as compensation expense from the date the obligations are
met with the remaining expense being amortized over the remaining term of the 36-months per the services agreements. As of December 31,
2024, the Company recorded compensation expense for services provided of $893,781 related to the restricted shares issued.

See
Note 5 – Convertible Debt and Derivative Liability for shares issued upon the conversion of the convertible notes. See Note 8 –
Commitment and Contingencies – Service agreements for details related to sale of common stock per the service agreements.

    F-18

JUPITER
                                            NEUROSCIENCES, INC.

NOTES
TO FINANCIAL STATEMENTS

December
31, 2024 and 2023

Note
6 – Stockholders’ Equity (Deficit), continued

Closing
of Offering

On
December 2, 2024, the Company priced its initial public offering of 2,750,000 shares of common stock at a price of $4.00 per share. The
offering closed on December 4, 2024, and the Company started trading on the Nasdaq Capital Market under the ticker symbol “JUNS”.
The Company sold 2,750,000 shares of its Common Stock to the underwriters and yielded proceeds of $9,725,213, net of underwriters and
other fees of $1,274,787.

The
Company intends to use the proceeds primarily to fund the Phase II clinical trial of its product candidate JOTROL™ in patients
with Parkinson’s Disease