Company: SHPH
Filing Date: 2025-01-15
Form Type: S-1
Source: 0001493152-25-002253
Chunk: 213

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-01-15
Form: S-1
Chunk 213
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 |     | December 31, |         |     | December 31, |        |
|                                 |     |         2023 |         |     |         2022 |        |
|                                 |     |              |         |     |          -as 
     restated |        |
| Convertible notes (Note 6)      |     |              | 119,939 |     |              |      — |
| Warrants (Note 7)               |     |              | 184,000 |     |              | 47,831 |
| Restricted stock units (Note 7) |     |              |  24,731 |     |              |  2,966 |
|                                 |     |              | 328,670 |     |              | 50,797 |

Recent Accounting Pronouncements

In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,”
which requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income
taxes paid. The guidance is effective for the Company’s fiscal years beginning after February 1, 2025, with early adoption permitted.
The Company does not expect the adoption of this standard to have any material impact on its financial statements.

There have been no other recent accounting pronouncements,
changes in accounting pronouncements or recently adopted accounting guidance during the year ended December 31, 2023 that are of significance
or potential significance to the Company.

Note 4 - Leases

The Company had two lease agreements during the year which allowed for the use of laboratory facilities. The first was for a monthly payment of $ 6,480, with a security deposit of $ 6,480held for the duration of the lease, that commenced on October 1, 2018, with the first payment made on January 1, 2019and ended on October 31, 2023.

On February 16, 2023, the Company entered into a new lease agreement for new office and laboratory space, with base rent of $ 7,206per month for a period of 64 months, which increases at the rate of 3% per year, that commenced June 1, 2023. The new lease included a six-month 50% rent abatement upon commencement. Additional common area maintenance (“CAM”) fees are charged monthly and revised annually. The estimated monthly