Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 47

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 47
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 company” as defined in the JOBS Act. An emerging growth company may take advantage
of relief from certain reporting requirements and other burdens that are otherwise applicable generally to public companies. These
provisions include:

    ●
    reduced obligations
    with respect to financial data;

    ●
    an exception from
    compliance with the auditor attestation requirements of Section 404(b) of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley
    Act”);

    ●
    reduced disclosure
    about our executive compensation arrangements in our periodic reports, proxy statements and registration statements; and

    ●
    exemptions from
    the requirements of holding non-binding advisory votes on executive compensation or golden parachute arrangements.

We
may take advantage of these provisions for up to five years or such earlier time that we no longer qualify as an emerging growth
company. We would cease to be an emerging growth company upon the earliest of:

    ●
    the last day of
    the fiscal year on which we have $1.235 billion or more in annual revenue,

    ●
    the date on which
    we become a “large accelerated filer” (i.e., as of our fiscal year end, the total market value of our common equity
    securities held by non-affiliates is $700 million or more as of June 30),

    ●
    the date on which
    we issue more than $1.0 billion of non-convertible debt over a three-year period, or

    ●
    the last day of
    our fiscal year following the fifth anniversary of the date of the completion of our IPO.

We
may choose to take advantage of some but not all of these reduced reporting burdens.

In
addition, under the JOBS Act, emerging growth companies can take advantage of an extended transition period and delay adopting
new or revised accounting standards until such time as those standards apply to private companies. We have elected to use this
extended transition period and, as a result, we will adopt new or revised accounting standards on the relevant dates on which
adoption of such standards is required for private companies. If we were to subsequently elect instead to comply with public company
effective dates, such election would be irrevocable pursuant to the JOBS Act.

Also,
we are a “smaller reporting company” ​(and may continue to qualify as such even after we no longer qualify as
an emerging growth company).