Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 397

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 397
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3 
  
    Cash 
    $1,918,941  
    $1,550,098 
  
    Money market funds 
     1,203  
     1,026,318 
  
    Total cash and cash equivalents 
    $1,920,144  
    $2,576,416 

    F-8

Periodically,
the Company may carry cash balances at financial institutions in excess of the federally insured limit of $250,000 per institution. The
amount in excess of the FDIC insurance as of December 31, 2024 was approximately $1.7 million. The Company has not experienced losses
on these accounts and management believes, based upon the quality of the financial institutions, that the credit risk with regard to
these deposits is not significant.

Marketable
Securities

Our
investments in debt securities are carried at fair value. Investments in debt securities that are not classified as held-to-maturity
are carried at fair value and classified as either trading or available-for-sale. Realized and unrealized gains and losses on trading
of debt securities are charged to income.

The
marketable securities held by the Company, which are classified as trading marketable securities, consisted of an outstanding
balance of $0
and $2.9 million
as of December 31, 2024 and 2023, respectively. As of the years ended December 31, 2024 and 2023, the Company recognized
interest income of less than $0.1
million and $0.1
million, realized gains of less than $0.1
million and less than $0.1 million,
and unrealized gain of $0
and $0.1
million, respectively.

Fair
Value of Financial Instruments

The
Company follows accounting guidelines on fair value measurements for financial instruments measured on a recurring basis, as well as
for certain assets and liabilities that are initially recorded at their estimated fair values. Fair value is defined as the exit price,
or the amount that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants
as of the measurement date. The Company uses the following three-level hierarchy that maximizes the use of observable inputs and minimizes
the use of unobservable inputs to value its financial instruments:

    ●
    Level 1: Observable inputs such as unadjusted quoted prices in active markets for identical instruments.

    ●
    Level 2: Qu