Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 536

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1B
Chunk 536
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, respectively,
of amortization of debt discount included in interest expense on the statements of operations for the years ended December 31,
2024 and 2023. As of December 31, 2024 there as $726,212 in outstanding principal on this note.

Waiver
of Exchange Cap

On
October 22, 2024, the affirmative vote of a majority of the outstanding shares of Common Stock present in person, by remote communication,
if applicable, or represented by proxy at the Annual Meeting approved the waiver of the Exchange Cap in connection with the July
Note and the CEF Purchase Agreement.

Outstanding
Principal on Notes

 Schedule
of Outstanding
Principal on Notes

    Loan Payable 
    Outstanding  Principal  
    Unamortized  Debt Discount  
    Outstanding  Principal, net of  Debt Discount 

    May Promissory Note 
    $1,455,416  
    $—  
    $1,455,416 

    Convertible Note 
     726,212  
     (127,426) 
     598,786 

    Total as of December 31, 2024 
    $2,181,628  
    $(127,426) 
    $2,054,202 

    Loan Payable 
    Outstanding  Principal   
    Unamortized  Debt Discount  
    Outstanding  Principal, net of  Debt Discount 

    Investor Note 
    $205,008  
     (2,729) 
    $202,279 

    Total as of December 31, 2023 
    $205,008  
    $(2,729) 
    $202,279 

    F-19 

    Investor Loan 
    Outstanding  Principal  
    Unamortized  Debt Discount  
    Outstanding  Principal, net of  Debt Discount 

    Investor Note 
    $450,000  
     (133,676) 
    $316,324 

    Total as of December 31, 2023 
    $450,000  
    $(133,676) 
    $316,324 

NOTE
6 – STOCKHOLDERS’ EQUITY

Initial
Public Offering

On
February 21, 2024, the Company completed its IPO and issued 1,100,000 shares of Common Stock at a price of $6