Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 719

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 3
Chunk 719
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 Company’s management. Our responsibility is to express an opinion on the Company’s
financial statements based on our audits.

We
are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and
are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules
and regulations of the Securities and Exchange Commission and the PCAOB.

We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits,
we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion
on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our
audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error
or fraud, and performing procedures that respond to those risks. Such procedures include examining, on a test basis, evidence regarding
the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant
estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits
provide a reasonable basis for our opinion.

/s/
Forvis Mazars, LLP

We
have served as the Company’s auditor since 2023.

Atlanta,
Georgia 

February
26, 2025

F-1

Shuttle
Pharmaceuticals Holdings, Inc.

Consolidated
Balance Sheets

    2024  
    2023 

    Years Ended December 31, 

    2024  
    2023 
  
    Assets 

    Current assets 

    Cash and cash equivalents 
    $1,920,144  
    $2,576,416 
  
    Prepaid expenses 
     290,773  
     114,473 
  
    Marketable securities 
     —  
     2,887,215 
  
    Accrued interest income 
     —  
     14,901 
  
    Total current assets 
     2,210,917  
     5