Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 44

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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arrants. The registration statement was declared effective by the SEC on April 2, 2025. The Company shall use commercially reasonable
efforts to keep such registration statement effective at all times until no February 2025 Purchaser owns any February 2025 Warrants or
shares underlying the February 2025 Warrants issuable upon exercise thereof.

Liquidity and Capital Resources

As of March 31, 2025, we had cash and cash equivalents of $3,451,500
($1,659,353 as of December 31, 2024). For the three months ended March 31, 2025 and 2024, our net cash used in operating activities was
$1,597,366 and $1,140,438, respectively. To date, we have financed our operations primarily through the issuance of common stock, warrants
to purchase common stock, and proceeds from the issuance of convertible debt and promissory notes. Based on current internal projections,
taking into consideration the net proceeds of approximately $1.9 million received under the ATM Agreement, an additional $5.127 million
in cumulative net proceeds received from the September 2024 Private Placement and the January and February 2025 Offerings, and recent
growth in Arakoda sales, we estimate that we will have sufficient funds to remain viable through August 31, 2025, excluding the additional
costs of conducting the Phase II study for chronic babesiosis patients (currently being planned), and assuming no additional capital raises.
We cannot give assurance that we can increase our cash balances or limit our cash consumption and thus maintain sufficient cash balances
for our planned operations or future acquisitions. Future business demands may lead to cash utilization at levels greater than recently
experienced. We may need to raise additional capital in the future. However, we cannot assure you that we will be able to raise additional
capital on acceptable terms, or at all.

25

Going Concern

In their audit report for the fiscal year ended
December 31, 2024, our auditors have expressed their concern as to our ability to continue as a going concern. Our ability to continue
as a going concern is dependent upon our ability to generate cash flows from operations and obtain financing. The audited consolidated
financial statements for the year ended December 31, 2024 included an explanatory note referring to our recurring operating losses and
expressing substantial doubt in our ability to continue as a going concern.

Our future results are subject to substantial