Skip to main content
Midas Edge

60 DEGREES PHARMACEUTICALS INC

For the period ended Sep 30, 2024. Filed Nov 14, 2024.

View on SEC.gov

About this filing

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.

Sep 30, 2024 · Filed Nov 14, 2024

SXTP$0.52-4.7%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Consolidated Condensed Statements of Shareholders’ Equity (Deficit)

CONSOLIDATED CONDENSED STATEMENTS OF SHAREHOLDERS’ EQUITY (DEFICIT) (UNAUDITED)

Series A Preferred Stock · Common Stock(1) · Additional Paid-In · Accumulated · Accumulated Other Comprehensive · Total Shareholders’ Equity (Deficit) Attributable · Noncontrolling Interest on · Total Shareholders’ Equity
SharesAmountSharesAmountCapital(1)DeficitIncome (Loss)to 60PShareholders(Deficit)
Balance—December 31, 202378,803$9,858,040484,187$48$27,457,335$(32,580,850)$135,561$4,870,134$(72,038)$4,798,096
Issuance of common stock and warrants, net of underwriting discounts and offering costs paid at closing and deferred offering costs--438,414441,898,252-1,898,296-1,898,296
Issuance of common stock upon exercise of Pre-Funded Warrants--41,63044,991--4,995-4,995
Issuance of shares for RSUs--16,0012(2)----
Net foreign translation loss------(3,894)(3,894)-(3,894)
Net income (loss)-----430,470-430,470(2,485)427,985
Balance—March 31, 2024 (unaudited)78,8039,858,040980,2329829,360,576(32,150,380)131,6677,200,001(74,523)7,125,478
Issuance of common stock upon exercise of Pre-Funded Warrants--41,62944,991--4,995-4,995
Issuance of shares for RSUs--5,3371(1)-----
Voluntary return of shares issued to vendor for services--(10,000)(1)1-----
Net foreign translation gain------3,1373,137-3,137
Net loss-----(4,172,755)-(4,172,755)(1,471)(4,174,226)
Balance—June 30, 2024 (unaudited)78,8039,858,0401,017,19810229,365,567(36,323,135)134,8043,035,378(75,994)2,959,384
Voluntary conversion of Series A Preferred Stock into common stock(2,323)(290,601)73,3347290,594-----
Issuance of common stock pursuant to ATM Offering, net of offering costs paid at closing and deferred offering costs of $264,774--677,819681,729,742--1,729,810-1,729,810
Issuance of warrants in Private Placement, net of offering costs paid at closing and deferred offering costs of $582,600----3,414,502--3,414,502-3,414,502
Issuance of common stock for fractional shares pursuant to Reverse Stock Split rounding adjustment93,5639(9)-----
Share-based compensation expense----15,246--15,246-15,246
Net foreign translation gain------4,4034,403-4,403
Net loss-----(2,159,785)-(2,159,785)(713)(2,160,498)
Balance—September 30, 2024 (unaudited)76,480$9,567,4391,861,914$186$34,815,642$(38,482,920)$139,207$6,039,554$(76,707)$5,962,847
(1)Periods presented have been adjusted to reflect the 1:12 reverse stock split on August 12, 2024.
Series A Preferred Stock · Common Stock(1) · Additional Paid-In · Accumulated · Accumulated Other Comprehensive · Total Shareholders’ Equity (Deficit) Attributable · Noncontrolling Interest on · Total Shareholders’ Equity
Shares · Amount · Shares · Amount · Capital(1) · Deficit · Income (Loss) · to 60P · Shareholders · (Deficit)
Balance—December 31, 2022-$-198,836$20$5,164,680$(28,815,148)$73,708$(23,576,740)$(572,320)$(24,149,060)
Cancellation of common stock--(120,919)(12)12-----
Share-based compensation to vendors for services--120,253125,378,896--5,378,908-5,378,908
Net foreign translation loss------(1,290)(1,290)-(1,290)
Net (loss) income-----(2,600,061)-(2,600,061)2,527(2,597,534)
Balance—March 31, 2023 (unaudited)--198,1702010,543,588(31,415,209)72,418(20,799,183)(569,793)(21,368,976)
Net foreign translation loss------(374)(374)-(374)
Net loss-----(3,336,555)-(3,336,555)(7,036)(3,343,591)
Balance—June 30, 2023 (unaudited)--198,1702010,543,588(34,751,764)72,044(24,136,112)(576,829)(24,712,941)
Issuance of common stock for payment of deferred compensation--2,438-155,000--155,000-155,000
Conversion of debt into common stock upon initial public offering--142,270147,989,584--7,989,598-7,989,598
Conversion of debt into Series A Preferred Stock upon initial public offering80,96510,128,500-----10,128,500-10,128,500
Reclassification of liability-classified warrants to equity-classified----838,748--838,748-838,748
Issuance of common stock pursuant to IPO, net of underwriting discounts, commissions, and deferred offering costs of $1,266,740--117,925126,235,264--6,235,276-6,235,276
Issuance of common stock upon exercise of warrants--15,37121,131,769--1,131,771-1,131,771
Voluntary conversion of Series A Preferred Stock into common stock(2,162)(270,460)3,797-270,460-----
Issuance of common stock pursuant to share-based compensation awards--3,336-187,200--187,200-187,200
Share-based compensation expense----271,066--271,066-271,066
Prepaid share-based compensation----109,148--109,148-109,148
Contribution from noncontrolling interest----(548,380)--(548,380)548,380-
Net foreign translation gain------9,3429,342-9,342
Net income (loss)-----4,183,198-4,183,198(9,656)4,173,542
Balance—September 30, 2023 (unaudited)78,803$9,858,040483,307$48$27,183,447$(30,568,566)$81,386$6,554,355$(38,105)$6,516,250
(1)Periods presented have been adjusted to reflect the 1:12 reverse stock split on August 12, 2024.
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.