Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 960

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 3
Chunk 960
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 all, which could in the future negatively affect the Company’s ability
to pursue its business strategy. 

Going Concern

The Company’s future results are subject to substantial risks
and uncertainties. Since its inception, the Company has not demonstrated the ability to generate enough revenues to date to cover operating
expenses and has accumulated losses to date. At December 31, 2024, the Company had cash and cash equivalents totaling $1,659,353, as compared
to cash and cash equivalents totaling $2,142,485 at December 31, 2023. During the year ended December 31, 2024, the Company used cash
of $5,648,088 in its operating activities ($4,542,910 during the year ended December 31, 2023). The Company’s capital commitments
over the next twelve months include interest payments on the Company’s debt arrangements of $8,772 and $1,007,618 to satisfy accounts
payable and accrued expenses.

To date, the Company has funded its operations primarily with proceeds
from sales of common stock and warrants for the purchase of common stock, sales of preferred stock, proceeds from the issuance of convertible
debt and borrowings under loan and security agreements.

Continuation as a going concern is dependent upon the Company’s
ability to meet its financial requirements, raise additional capital, and achieve gross profitability from the Company’s single
marketed product. To achieve profitability, the Company expects it will need to raise additional capital to fund its activities relating
to commercial support for its existing product and any future clinical research trials and operating activities. However, there can be
no assurance that it will ever achieve or maintain profitability. These conditions, among others, raise substantial doubt about the
ability of the Company to continue as a going concern for one year from the date these financial statements are issued.

Management plans to fund operations of the Company
through third party and related party debt/advances, private placement of restricted securities and the issuance of stock in a subsequent
offering until such a time as the business achieves profitability or a business combination may be achieved. However, there can be no
assurance that the Company will be successful in raising additional capital or that such capital, if available, will be on terms that
are favorable to the Company. Debt financing and equity financing, if available, may involve agreements that include covenants limiting
or restricting the Company’s ability to take specific actions, such as incurring additional debt, making capital expenditures