Company: PTHS
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001753926-25-000503
Chunk: 428

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1B
Chunk 428
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 same amount. 

Parexel
Claim 

On
July 31, 2024, the Company received a demand letter from an attorney representing Parexel.  The letter, which was addressed
to both the Company and Chromocell Holdings, purports to be a notice of default of the Promissory Note and seeks the payment
of allegedly unpaid principal in the amount of $682,551.49 plus interest exceeding $177,000.  The Company denies that it
is liable for any of the amounts sought by Parexel; the Company is not a party to the Promissory Note and does
not believe it is liable for any amounts allegedly due thereunder. The Company intends to defend itself vigorously in the
matter.

66 

Item
4. Mine Safety Disclosures

Not
applicable.

Part
II

Item
5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

Market
Information

Our
Common Stock trades on NYSE American under the symbol “CHRO.”

Holders
of our Common Stock

As
of March 7, 2025, there were approximately 16 holders of record of our Common Stock. This number does not include shares of Common
Stock held by brokerage clearing houses, depositories or others in unregistered form.

Dividends

We
have never declared or paid cash dividends on our capital stock. We currently intend to retain all available funds and any future
earnings for use in the operation of our business and do not anticipate paying any dividends on our Common Stock in the foreseeable
future. Any future determination to declare dividends will be made at the discretion of our board of directors and will depend
on our financial condition, operating results, capital requirements, general business conditions and other factors that our board
of directors may deem relevant.

Securities
Authorized for Issuance under Equity Compensation Plans 

Reference
is made to “Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters—Securities
Authorized for Issuance under Equity Compensation Plans” for the information required by this item.

Recent
Sales of Unregistered Securities

On
June 12, 2024, the Company agreed to issue up to an aggregate of 140,000 shares of Common Stock to a vendor in considerations
for the services provided by the vendor to the Company, with 51,187 shares issued between June