Company: SHPH
Filing Date: 2025-01-15
Form Type: S-1
Source: 0001493152-25-002253
Chunk: 201

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-01-15
Form: S-1
Chunk 201
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| ● | Failure to recognize deemed contribution related to the settlement of the                                                         
 Series A Convertible Preferred Stock and accrued dividends;                                                                       |

Notes Payable

| ● 
 ● | Misidentification of certain debt and equity issuance costs and incorrect association with certain of          
 the Company’s financings during the years ended December 31, 2022 and 2021;                                    
 Application of the incorrect amortization period and pattern of recognition for debt discounts recorded        
 in relation to the Company’s debt financings during the years ended December 31, 2022 and 2021;                |
|:--|:---------------------------------------------------------------------------------------------------------------|
| ● | Incorrect recognition of bifurcated derivative liabilities, as well as incorrect initial and subsequent        
 fair value measurements, in relation to the December 2021 Notes, 2022 Convertible Notes and August 2022 Notes; |
| ● | Misclassification of certain warrants issued with debt transactions during the year ended December 31,         
 2022;                                                                                                          |
| ● | Failure to recognize certain liability-classified warrants issued in exchange for services provided related    
 to the Company’s financing activities during the year ended December 31, 2022;                                 |
| ● | Incorrect application of extinguishment or conversion models in accounting for certain debt instruments        
 upon their settlement; and                                                                                     |

Initial Public Offering

| ● | Incorrect identification of deferred issuance costs incurred in relation to the initial public offering; Incorrect identification and classification of issuance costs incurred in relation to the initial public offering. |

In addition to the restatement of the consolidated
financial statements, the Company has also restated the following notes to reflect the errors described above:

| ● | Note 2 - Summary of Significant Accounting Policies (now Note 3) |
| ● | Note 5 – Notes Payable-Related Party                             |
| ● | Note 6 – Convertible Notes (now labeled Notes Payable)           |
| ● | Note 7 – Stockholders’ Equity                                    |
| ● | Note 8 – Derivative Liabilities                                  |
| ● | Note 10 – Income Taxes                                           |

| F-27 |

The impact of the errors described above also impact
the Company’s Annual Report on Form 10-K for the years ended December 31, 2023 and December 31, 2022 within additional paid in capital and accumulated deficit, resulting in the preparation and filing of this Annual Report on Form 10-K/A.

Schedule of Error Corrections And Prior Period Adjustments

| Consolidated Balance Sheet