Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 260

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1A
Chunk 260
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 or exceed $1.00 per share for a minimum of 10 consecutive business days.

If
the Company cannot regain compliance during the Compliance Period by June 30, 2025, whether organically or by completing a reverse stock
split and subsequently trading above $1.00 per share for 10 consecutive trading days, Nasdaq will provide the Company with notice that
its common stock will be subject to delisting. At that time, the Company may appeal Nasdaq’s delisting determination to a Nasdaq
Hearings Panel.

Nasdaq’s
notice to the Company of noncompliance has no immediate effect on the listing of the Company’s common stock and its common stock
will continue to be listed on The Nasdaq Capital Market under the symbol “SHPH.” There can be no assurance that the Company
will regain compliance with the Minimum Bid Price Requirement or maintain compliance with any of the other Nasdaq continued listing requirements.
The Company will continue to monitor the closing bid price of its common stock and will, as appropriate, consider available options to
regain compliance with the Minimum Bid Price Requirement.

On
September 10, 2024, the Company received a letter from Nasdaq, notifying the Company that it is no longer in compliance with the minimum
stockholders’ equity requirement for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires listed
companies to maintain stockholders’ equity of at least $2.5 million. In the Company’s Quarterly Report on Form 10-Q for the
period ended June 30, 2024, the Company reported stockholders’ equity of $801,434, which is below the minimum stockholders’
equity required for continued listing pursuant to Nasdaq Listing Rule 5550(b)(1). In addition, presently, the Company does not meet the
alternatives of market value of listed securities or net income from continuing operations.

On
October 15, 2024, the Company submitted a plan to Nasdaq to regain compliance and Nasdaq subsequently granted the Company until March
10, 2025 to regain compliance. We are now in the process of evaluating potential fundraising opportunities, have filed a preliminary
registration statement on Form S-1 with the intent of completing an up to $6.5 million public offering, and are working to complete the
offering on or prior to March 10, 2025. Nonetheless, there can be no assurance that the Company will be able to