Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 97

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 97
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4,550,768  
    $(3,873,620) 
     (85)%

60

As
of December 31, 2024, total current assets were $2.2 million and total current liabilities were $1.5 million, resulting in working capital
of $0.7 million. As of December 31, 2023, total current assets were $5.6 million and total current liabilities were $1.0 million, resulting
in a working capital of $4.6 million. The Company’s current assets as of December 31, 2024 are comprised of $1.9 million of cash
and cash equivalents and $0.3 million of prepaid expenses, with the decrease from December 31, 2023 being primarily due to ongoing cash
burn from our R&D programs, filing expenses, reaudits, and general operations.

In
addition, we continued progress on our R&D programs during the year ended December 31, 2024 that resulted in increased cash expenditures.
The Company’s current liabilities as of December 31, 2024 are primarily comprised of $0.7 million of convertible notes payable,
$0.6 million of accounts payable and accrued expenses, $0.2 million of notes payable to related parties, and the current portion of our
operating lease liability of $0.1 million. The increase in current liabilities is primarily due to an increase in accounts payable and
accrued expenses of $0.2 million, notes payable to related parties of $0.2 million, and convertible note payable of $0.1 million, primarily
attributable to our efforts to preserve cash while we strive to raise funds to finance ongoing business and operations.

Cash
Flows

    Years Ended December 31,  

    2024  
    2023  
    Change  
    % 
  
    Cash used in operating activities 
     (7,327,230) 
     (5,581,147) 
     (1,746,083) 
     31%
  
    Cash used in investing activities 
     2,915,765  
     (2,829,723) 
     5,745,488  
     100%
  
    Cash provided by financing activities 
     3,755,193  
     2,570,083  
     1,185,110  
     46%