Company: SHPH
Filing Date: 2025-01-15
Form Type: S-1
Source: 0001493152-25-002253
Chunk: 214

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-01-15
Form: S-1
Chunk 214
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 discount rate - operating leases                            |     |              |   10.48 | % |     |      |     10 | % |

| F-34 |

Future non-cancelable minimum lease payments under the operating lease liability as of December 31, 2023, are as follows:

Schedule of Future Non-cancelable Minimum Lease Payments Under Operating Lease Liability

| Years ended December 31,            
 Remainder of fiscal year            |     |   |         |   |
|:------------------------------------|:----|:--|--------:|:--|
| 2024                                |     | $ |  91,502 |   |
| 2025                                |     |   |  94,247 |   |
| 2026                                |     |   |  97,074 |   |
| 2027                                |     |   |  99,986 |   |
| 2028                                |     |   |  68,235 |   |
| Total future minimum lease payments |     |   | 451,044 |   |
| Less: imputed interest              |     |   | (94,438 | ) |
| Present value of payments           |     | $ | 356,606 |   |

Note 5 – Notes Payable-Related Party

On December 1, 2020, the Company consolidated all of the outstanding loans owed to an officer of the Company and to his spouse, resulting in the following two loans: (i) a single loan from the spouse of an officer of the Company, dated December 1, 2020, with a principal balance of $ 426,243, bearing interest at the rate of 7.5% per annum, with a maturity date of December 31, 2021; and (ii) a single loan owed to an officer of the Company in the principal amount of $ 139,229, bearing interest at the rate of 7.5% per annum, with a maturity date of December 31, 2021. In December of 2021, the maturity dates of these loans were further extended to June 30, 2022. In July of 2022, the notes were extended to June 30, 2023.

On June 21, 2021, the Company entered into a loan from the spouse of an officer of the Company in the amount of $ 120,000(principal) with an interest rate of 7.5%