Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 599

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1C
Chunk 599
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 in legal and professional fees, $549,912 of insurance expenses, $1,019,111 of
investor outreach expenses, and $433,884 of advertising and promotion expenses (up from $268,611, $304,581, $668,639, and $172,551 for
the year ended December 31, 2023, respectively). These were partially offset by a significant decrease in stock-based compensation, which
decreased from $528,926 for the year ended December 31, 2023 to $32,767 for the year ended December 31, 2024. The decrease is, in part,
due to a decrease in the average grant date fair value of stock-based awards granted in 2024 as compared to 2023, as well as certain
fully vested stock-based awards granted to our directors on the closing date of our IPO, and to our executives at the end of 2023.

Interest and Other Income (Expense), Net

    For the Year Ended
    December 31,  

    Consolidated Statements of Operations Data: 
    2024  
    2023  
    $ Change  
    % Change 
  
    Interest Expense 
    $(7,912) 
    $(2,286,637) 
    $2,278,725  
     (99.65)%
  
    Derivative Expense 
     -  
     (399,725) 
     399,725  
     (100.00)
  
    Change in Fair Value of Derivative Liabilities 
     1,665,966  
     (37,278) 
     1,703,244  
     (4,569.03)
  
    Loss on Debt Extinguishment 
     -  
     (1,231,480) 
     1,231,480  
     (100.00)
  
    Change in Fair Value of Promissory Note 
     -  
     5,379,269  
     (5,379,269) 
     (100.00)
  
    Other Income (Expense), net 
     101,464  
     (83,116) 
     184,580  
     (222.08)
  
    Total Interest and Other Income (Expense), net 
    $1,759,518  
    $1,341