Company: PTPI
Filing Date: 2025-02-13
Form Type: S-1/A
Source: 0001410578-25-000122
Chunk: 154

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-02-13
Form: S-1/A
Chunk 154
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 was $515,311 and $14,194, respectively. Petros invested its cash in money market securities during 2023.

Interest Expense, Promissory Note

In January 2022, the Company executed a promissory note in favor of Vivus with a principal amount of $10,201,758 in connection with the Vivus Settlement Agreement. Interest expense, promissory note for the year ended December 31, 2023, and December 31, 2022, was $536,138 and $596,018, respectively.

Income Tax Expense (Benefit)

Income tax expense for the year ended December 31, 2023, was $0 compared to income tax of $0 for the year ended December 31, 2022.

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Nine Months Ended September 30, 2024, and 2023 (Unaudited) The following table sets forth a summary of our statements of operations for the nine months ended September 30, 2024, and 2023:

| ​                                            | ​ 
 ​ | For the Nine Months Ended September 30, |       2024 | ​ |   |        2023 | ​ |
|:---------------------------------------------|:--|:----------------------------------------|-----------:|:--|:--|------------:|:--|
| Net sales                                    | ​ | $                                       |  4,386,640 | ​ | $ |   6,186,638 | ​ |
| Cost of sales                                | ​ | ​                                       |    947,946 | ​ | ​ |   1,473,073 | ​ |
| Gross profit                                 | ​ | ​                                       |  3,438,694 | ​ | ​ |   4,713,565 | ​ |
| Operating expenses:                          | ​ | ​                                       |            | ​ | ​ |             | ​ |
| Selling, general and administrative          | ​ | ​                                       |  7,299,391 | ​ | ​ |   6,382,166 | ​ |
| Warrant Issuance Costs                       | ​ | ​                                       |          — | ​ | ​ |   2,855,000 | ​ |
| Research and development                     | ​ | ​                                       |  2,513,105 | ​ | ​ |   1,574,760 | ​ |
| Depreciation and amortization expense        | ​ | ​                                       |  2