60 DEGREES PHARMACEUTICALS INC
For the period ended Jun 30, 2024. Filed Aug 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 14, 2024
SXTP$0.52-4.7%Stored close · as of Nov 10, 2026
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Consolidated Condensed Statements of Cash Flows
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)
| For the Six Months Ended June 30, · 2024 · 2023 | ||||
|---|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Net Loss | $(3,746,241) | $(5,941,125) | ||
| Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities: | ||||
| Depreciation | 1,943 | 13,802 | ||
| Amortization | 17,679 | 13,192 | ||
| Amortization of Debt Discount | - | 645,336 | ||
| Amortization of ROU Asset | 13,517 | 24,500 | ||
| Amortization of Note Issuance Costs | - | 64,239 | ||
| Amortization of Capitalized Share-Based Payments | 2,878,035 | 534,408 | ||
| Share-Based Compensation to Vendors for Services | - | 277,605 | ||
| Loss on Debt Extinguishment | - | 839,887 | ||
| Change in Fair Value of Derivative Liabilities | (1,739,746) | (2,834) | ||
| Derivative Expense | - | 399,725 | ||
| Change in Fair Value of Promissory Note | - | 725,797 | ||
| Write-offs of Capitalized Patents | 8,378 | - | ||
| Inventory Reserve | - | 52,301 | ||
| Changes in Operating Assets and Liabilities: | ||||
| Accounts Receivable | (65,038) | (79,505) | ||
| Prepaid and Other Assets | 154,509 | (35,507) | ||
| Inventory | 40,149 | 762 | ||
| Accounts Payable and Accrued Liabilities | 123,396 | 299,653 | ||
| Accrued Interest | (1,581) | 1,426,049 | ||
| Reduction of Lease Liability | (13,650) | (24,453) | ||
| Deferred Compensation | - | 40,000 | ||
| Net Cash Used in Operating Activities | (2,328,650) | (726,168) | ||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||
| Capitalization of Patents | (28,298) | (15,419) | ||
| Purchases of Fixed Assets | (90,000) | - | ||
| Acquisition of Intangibles | (22,075) | (6,000) | ||
| Net Cash Used in Investing Activities | (140,373) | (21,419) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||
| Net Proceeds from January 2024 Offering | 1,914,513 | - | ||
| Payment of Deferred Offering Costs | (16,217) | (146,544) | ||
| Payment of Deferred Offering Costs for Proposed Offering | (5,860) | - | ||
| Proceeds from Exercise of Pre-Funded Warrants | 9,990 | - | ||
| Proceeds from Notes Payable | - | 650,000 | ||
| Proceeds from Advances - Related Party | - | 250,000 | ||
| Repayment of Related Party Advances | - | (250,000) | ||
| Net Cash Provided by Financing Activities | 1,902,426 | 503,456 | ||
| Effect of Exchange Rate Changes on Cash | 714 | (1,664) | ||
| Change in Cash | (565,883) | (245,795) | ||
| Cash—Beginning of Period | 2,142,485 | 264,865 | ||
| Cash—End of Period | $1,576,602 | $19,070 | ||
| NONCASH INVESTING/FINANCING ACTIVITIES | ||||
| Capitalized Share-Based Payments to Vendors | $ | - | $4,908,658 | |
| Fair Value of Warrants Issued to Underwriters | $71,364 | $ | - | |
| Purchases of Fixed Assets included in Accounts Payable | $13,773 | $ | - | |
| Additions to ROU Assets for Lease Renewal | $ | - | $50,922 | |
| Additions to Lease Liabilities for Lease Renewal | $ | - | $50,570 | |
| Debt Discount Recorded in Connection with Derivative Liabilities | $ | - | $650,000 | |
| Stock Issued for Payment of Deferred Compensation | $ | - | $325,000 | |
| Stock Issued for Acquisition of Intangibles | $ | - | $33,895 | |
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