Company: TELO
Filing Date: 2025-02-04
Form Type: 10-K
Source: 0001493152-25-004872
Chunk: 150

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-02-04
Form: 10-K
Item: Item 9C
Chunk 150
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 Initial MIRALOGX License Agreement, pursuant to which we acquired the license to the non-human
applications of the “Licensed Products. This amendment was reaffirmed by new management on October 18, 2024.

We
were also a party to an Agreement for Shared Lease Costs, dated April 1, 2023, with MIRALOGX and MIRA Pharmaceuticals, Inc., under which
we have agreed to pay our pro rata share of the operating usage costs owing by MIRALOGX under an aircraft lease agreement between MIRALOGX
and Supera Aviation I LLC (“Supera Aviation”) based on our usage of the leased aircraft each month. No amounts are payable
by us under this agreement unless and to the extent we choose to utilize the leased aircraft, and we may discontinue the use of the aircraft
and terminate this agreement at any time. Supera Aviation is a company owned by Starwood Trust, a trust established by Mr. Williams.
For the year ended December 31, 2024 and December 31, 2023, the Company incurred $0.4 million and $1.77 million, respectively, in expenses
under the aircraft lease agreement. The aircraft lease was terminated in April 2024 and no other costs will be incurred under this agreement.

Starwood
Trust Line of Credit

On
September 24, 2024 the Company entered into an unsecured Promissory Note and Loan Agreement (“the Starwood Note”) with the
Starwood Trust, a separate related party trust established by the Company’s founder for the benefit of the founder’s family.
Under the Starwood Note, the Company has the right to borrow up to an aggregate of $5 million from the Starwood Trust at any time
up until the second anniversary of the note. The Company’s right to borrow funds under the Starwood Note is subject to the absence
of a material adverse change in its assets, operations, or prospects. The Starwood Note, together with accrued interest, is to become
due and payable on the second anniversary of the issuance of the note, provides for prepayment at any time without penalty, and accrues
simple interest at a rate equal 7% per annum. As of December 31, 2024, the Company has not borrowed any amounts under the Starwood
Note.

Further,
on December 9, 2024, Starwood Trust entered into a stock purchase agreement with the Company to purchase 142,857