Company: TELO
Filing Date: 2025-02-04
Form Type: 10-K
Source: 0001493152-25-004872
Chunk: 606

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-02-04
Form: 10-K
Item: Item 1C
Chunk 606
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 Administrative Expenses

General
and administrative expenses consist of administrative functions, as well as fees paid for legal consulting fees and facilities costs
not otherwise included in research and development expenses. Legal costs include general corporate legal fees and license costs. We expect
to incur additional expenses as a result of becoming a public company, including expenses related to compliance with the rules and regulations
of the SEC and Nasdaq, additional insurance, investor relations and other administrative expenses and professional services.

48

Results
of Operations for years ended December 31, 2024 and 2023

    Year
    Ended December 31, 

    2024  
    2023 
  
    Revenues 
    $
    -  
    $
    - 

    Operating costs: 

    General and
    administrative expenses 
     9,636,333  
     600,192 
  
    Related party travel costs 
     370,500  
     1,767,550 
  
    Research
    and development expenses 
     2,235,341  
     1,574,306 
  
    Total
    operating costs 
     12,242,174  
     3,942,048 

    Interest
    income 
     48,000  
     - 
  
    Interest expense 
     (4,338,542) 
     (1,643,049 
  
    Loss
    on extinguishment of debt 
     -  
     (7,486,767 
  
    Net
    loss attributable to common stockholders 
    $(16,532,716) 
    $(13,071,864)

General
and Administrative Expenses. We incurred general and administrative expenses of $9.6 million and $0.6 million during the years
ended December 31, 2024 and 2023, respectively. General and administrative expenses consisted of stock compensation expense of $6.7 million for new options granted in 2024,
payroll expense of $1.2 million which increased compared to 2023 due to more employees after
the IPO, accounting and legal expenses of $0.6 million relating to the IPO in 2024, and office and rent expenses of $1.1 million.

Related
Party Travel Costs. We incurred $0.4 million and $1.8 million in related party travel costs during the years ended December 31,
2024 and December 31