Related Party Transactions |
12 Months Ended |
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Dec. 31, 2025 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Note 3 – Related Party Transactions
The Company’s Chief Executive Officer (CEO) has loaned the Company working capital since inception. The balance of the loans to the CEO as of December 31, 2024 was $146,432. The loan was due on demand and accrues interest at 3% per year. Accrued interest relating to the loan was $1,064 as of December 31, 2024, and is included in accrued interest on the accompanying 2024 balance sheets. The Company fully settled the debt in 2025 by repaying a total of $150,782, $146,432 in principal and $4,350 in accrued interest. The Company repaid a total of $100,000 during the year ended December 31, 2024, $83,880 in principal and $16,120 in accrued interest.
On March 15, 2024, a former executive agreed to forgive $ of accrued compensation in exchange for options to purchase common stock and restricted stock units, The options to purchase common stock have a strike price of $. The option had a grant date fair value of $. The Company recorded a gain on the forgiveness of accrued compensation in the amount of $.
On April 29, 2024, the Company, the Holder of the Note II (See Note 5 – Convertible Debt and Derivative Liability) and the CEO entered into an amendment in which the CEO agreed to exchange shares issued to the Holder in exchange for his related party notes that accrued interest at 3% that are due from the Company in an aggregate principal amount of $266,667 and the Holder agreed to forfeit all rights to all additional future shares from the Company that would of become due upon a qualified offering as well as the conversion option. Therefore, the principal amount of the note was increased to $1,377,778 and the exchange debt follows the requirements of Note II. See Note 5 – Convertible Debt and Derivative liability – Senior Secured Note – Formerly known as the Convertible Debt I for more details.
JUPITER NEUROSCIENCES, INC. NOTES TO FINANCIAL STATEMENTS December 31, 2025 and 2024
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