Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 1298

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 5
Chunk 1298
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to be executed and enabling the possibility of a one or more out-licensing agreements in the territory.

86

Contractual
obligations

We
do not have any long-term capital lease obligations, operating lease obligations or long-term liabilities, except as follows:

On
April 30, 2021, the Company executed a lease agreement for office space in Jupiter, Florida. The term of the lease is sixty-one months
commencing May 1, 2021 rent free until June 1, 2021. Fixed annual rent amounts are as follows:

    Lease Period 
    Annual Fixed Rent 
  
    6/1/2021-5/31/2022 
    $45,396 
  
    6/1/2022-5/31/2023 
    $46,758 
  
    6/1/2023-5/31/2024 
    $48,158 
  
    6/1/2024-5/31/2025 
    $49,608 
  
    6/ l/2025-5/31/2026 
    $51,096 

Senior
Secured Note

On
April 11, 2022, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with an accredited investor
for the sale of the Company’s convertible notes. Pursuant to the terms of the Purchase Agreement, on April 11, 2022, the Company
received aggregate gross proceeds of $1,000,000 and issued (i) a 10% Original Issue Discount Senior Secured Convertible Note in the principal
amount of $1,111,111.11 (the “Note”) and (ii) 514,403 shares of common stock, par value $0.0001 per share (the “Shares”),
of the Company.

The
Note. The aggregate principal amount of the Note is $1,111,111, and the Company received gross proceeds of $1,000,000 after giving
effect to the original issue discount of 10%. The Note bears interest at a rate of 10% per year, payable monthly in arrears, and mature
12 months from issuance. A “Qualified Offering” is a debt or equity financing for the account of the Company or any of its
subsidiaries in which shares of common stock, or securities, directly or indirectly, convertible into or exchangeable or exercisable
for