Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 461

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1B
Chunk 461
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 Note 12 – Subsequent Events).

F-10

Proportional adjustments were made to the number
of shares of common stock issuable upon exercise or conversion of the Company’s equity awards, warrants, and other equity instruments
convertible into common stock, as well as the respective exercise prices, if applicable, in accordance with the terms of the instruments.
Unless otherwise noted, all references to numbers of shares of the Company’s common stock and per share information presented in
these consolidated financial statements have been retroactively adjusted, as appropriate, to reflect the Reverse Stock Splits, including
reclassifying an amount equal to the reduction in par value of common stock to additional paid-in capital.

Cash and Cash Equivalents

The Company’s cash consists of cash deposited
in demand accounts at financial institutions, which are insured by the Federal Deposit Insurance Corporation (“FDIC”). The
Company considers short-term highly liquid investments with original maturities of three months or less to be cash equivalents. The Company’s
cash and cash equivalents, at times, may exceed the FDIC insurable limits (currently $250,000). The Company has not experienced any losses
related to amounts in excess of FDIC Limits. The Company periodically assesses the credit risk associated with these financial institutions
and believes that the risk of loss is minimal. 

Short-term Investments

Short-term investments consist of certificates
of deposit with original maturities of greater than three months and less than twelve months, which are classified as held-to-maturity
as the Company has the intent and ability to hold these investments until they mature. The classification of short-term investments is
determined at the time of purchase and is reevaluated at each balance sheet date. Short-term investments are reported at amortized cost.

Accounts Receivable and Allowance for Doubtful Accounts

The Company records accounts receivable at net
realizable value. This value includes an appropriate allowance for estimated uncollectible accounts to reflect any loss anticipated on
the trade accounts receivable balances and charged to the provision for doubtful accounts. Based on the Company’s history there
has been no need to make a recording to Allowance for Doubtful Accounts. Most of the Company’s revenue has been earned via government
contracts, an Australian pharmaceutical distributor and a large American pharmaceutical distributor. There was no allowance as of December
31, 2024 and December 31, 2023. As the Company continues to engage with smaller distributors, it will continue to analyze whether an
allowance should