Company: JUNS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023603
Chunk: 6

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 6
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unpaid interest relating to the loan totaled $4,350 and $1,064 as of September 30, 2025 and December 31, 2024, respectively, and is included
in accrued interest on the accompanying condensed consolidated balance sheets. See Note 9 – Subsequent Events – Notes payable, related
party for repayment of notes.

Other

As of September 30, 2025 and December 31, 2024, $136,105 and $64,105, respectively,
were payable to Titan Advisory Services LLC (“Titan”), a company wholly owned by our Chief Financial Officer, pursuant to
a Master Services Agreement (“MSA”) dated December 31, 2022. Under the MSA, Titan provides executive finance and corporate
support services to the Company, including service by Saleem Elmasri as Chief Financial Officer.

    12

JUPITER
NEUROSCIENCES, INC.

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Note
3 – Related Party Transactions, continued

Equity
Instruments Exchanged for Accrued Compensation

In
March 2024, in exchange for the issuance of 49,605 stock options, with a strike price of $1.33, and 7,500 restricted stock units (“RSUs”),
a former executive relinquished his right to receive $100,000 of previously accrued, but unpaid compensation The grant date fair value
of the stock options and RSUs totaled $60,000, resulting a $40,000 gain, which is included other income in the accompanying 2024 statement
of operations.

Note
4 – Accounts Payable and Accrued Expenses

Accounts
payable and accrued expenses consisted of the following:

 Schedule of Accounts Payable and Accrued Expenses

    September
    30, 2025  
    December
                                            31,  2024 
  
    Accounts
    payable 
    $367,391  
    $278,676 
  
    Professional
    fees 
     45,509  
     40,271 
  
    License
    fee 
     56,250  
     75,000 
  
    Credit
    cards 
     9,202  
     2,536 
  
    Total
    accounts payable and accrued expenses 
    $478,352  
    $396,483 

Accrued
compensation of $