Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 978

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 5
Chunk 978
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 & D tax credits 
     —  
     (240,000)
  
    Return to provision adjustments 
     445,499  
     286,015 
  
    Permanent differences 

    Derivative debt discount amortization 
     —  
     562,568 
  
    Change in fair value of warrant liability 
     (189,030) 
     (617,655)
  
    Loss on convertible note conversion 
     232,266  
     132,984 
  
    Disqualified debt interest expense 
     334,045  
     — 
  
    Other 
     (1,799) 
     126,012 
  
    Change in valuation allowance 
     1,679,374  
     1,535,466 
  
    Shortfall of stock compensation expense 
     47,986  
     40,674 
  
    Other adjustments 
     (16) 
     16,800 
  
    Income tax expense 
    $—  
    $— 

The
principal components of deferred tax assets consist of the following:

Schedule
of Components of Deferred Tax Assets 

    December 31,  
    December 31, 

    2024  
    2023 
  
    Deferred tax asset: 

    Net operating loss carryforwards 
    $2,996,460  
    $1,727,566 
  
    Intangibles (includes Section 174 capitalization) 
     1,834,368  
     1,197,938 
  
    R&D tax credits 
     189,232  
     423,915 
  
    Equity based compensation 
     1,523  
     1,251 
  
    Interest & other accrued expenses 
     45,424  
     72,140 
  
    Lease asset/(liability) 
     6,435  
     6,326 
  
    Total 
    $5,073,442  
    $3,429,136 

    December 31,  
    December 31, 
  
    Deferred tax Liabilities: 
    2024  
    2023 
  
    Change in fair market value of securities 
    $—  
    $(19,943)
  
    Prepaid expenses 
     (16,188) 
     (30,