Company: SHPH
Filing Date: 2025-02-13
Form Type: S-1
Source: 0001493152-25-006202
Chunk: 213

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-13
Form: S-1
Chunk 213
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proceeds” from the exercise of these instruments are used to purchase common shares at the average market price for the period. The dilutive effect of convertible securities is calculated using the “if-converted method.” Under the if-converted method, securities are assumed to be converted at the beginning of the period, and the resulting shares of common stock are included in the denominator of the diluted calculation for the entire period being presented.

For the years ended December 31, 2023 and 2022, the following common stock equivalents were excluded from the computation of diluted net loss per share as the result of the computation was anti-dilutive.

Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share

|                                 |     | December 31, |         |     | December 31, |        |
|                                 |     |         2023 |         |     |         2022 |        |
|                                 |     |              |         |     |          -as 
     restated |        |
| Convertible notes (Note 6)      |     |              | 119,939 |     |              |      — |
| Warrants (Note 7)               |     |              | 184,000 |     |              | 47,831 |
| Restricted stock units (Note 7) |     |              |  24,731 |     |              |  2,966 |
|                                 |     |              | 328,670 |     |              | 50,797 |

Recent Accounting Pronouncements

In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,”
which requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income
taxes paid. The guidance is effective for the Company’s fiscal years beginning after February 1, 2025, with early adoption permitted.
The Company does not expect the adoption of this standard to have any material impact on its financial statements.

There have been no other recent accounting pronouncements,
changes in accounting pronouncements or recently adopted accounting guidance during the year ended December 31, 2023 that are of significance
or potential significance to the Company.

Note 4 - Leases

The Company had two lease agreements during the year which allowed for the use of laboratory facilities. The first was for a monthly payment of $ 6,480, with a security