false FY 0001760903 0.0468 P5Y P5Y P5Y P3Y

 SHOT:CommonStockParValue0.001PerShareMember

 SHOT:WarrantsToPurchaseSharesOfCommonStock0.001ParValuePerShareMember

 2024-06-30

 2025-03-25

 SHOT:SRMEntertainmentIncMemberAndAffiliatedEntityMember

 SHOT:SRMEntertainmentIncMemberAndAffiliatedEntityMember

 srt: SubsidiaryIssuerMember
 us-gaap: OtherInvesteesMember

 srt: SubsidiaryIssuerMember
 us-gaap: OtherInvesteesMember

 srt: SubsidiaryIssuerMember
 us-gaap: OtherInvesteesMember

 2023-05-01

 SHOT:SRMEntertainmentLimitedMember

 SHOT:JupiterWellnessSponsorLlcMember

 SHOT:RestrictedCommonStockMember

 2023-06-27
 2023-06-27

 2023-08-01
 2023-08-31

 2023-05-01

 2023-09-01
 2023-09-30

 2023-10-01
 2023-10-31

 SHOT:RestrictedCommonStockMember

 us-gaap: AccountsPayableMember

 2023-06-30

 us-gaap: RestrictedStockMember
 srt: ChiefExecutiveOfficerMember

 2023-07-01

 us-gaap: NotesReceivableMember

 2022-09-01
 2022-09-01

 2023-09-30

 2024-09-23

 2024-12-10
 2024-12-10

 2024-12-10
 2024-12-10

 SHOT:SRMEntertainmentLimitedMember

 SHOT:SRMEntertainmentLimitedMember

 2024-03-31

 2024-03-31

 SHOT:RestrictedCommonStockMember

 2023-12-01

 SHOT:GBBDrinkLabIncMember

 2023-07-09

 SHOT:ConvertiblePromissoryNotesOneMember

 SHOT:ConvertiblePromissoryNotesTwoMember

 SHOT:ConvertiblePromissoryNotesOneMember

 SHOT:ConvertiblePromissoryNotesTwoMember

 SHOT:TwentyTwentyTwoConvertibleNotesMember

 SHOT:WarrantOneMember

 SHOT:WarrantTwoMember

 2023-12-01

 2024-09-01
 2024-09-30

 SHOT:ConvertibleNoteAgreementMember
 SHOT:BiggerCapitalLLPMember
 us-gaap: SecuredDebtMember

 SHOT:ConvertibleNoteAgreementMember
 SHOT:BiggerCapitalLLPMember
 us-gaap: SecuredDebtMember

 SHOT:ConvertibleNoteAgreementMember
 SHOT:BiggerCapitalLLPMember
 us-gaap: ConvertibleDebtMember

 SHOT:ConvertibleNoteAgreementMember
 SHOT:BiggerCapitalLLPMember
 us-gaap: ConvertibleDebtMember

 2020-01-01
 2020-12-31

 2021-01-01
 2021-12-31

 2021-12-31

 SHOT:RDAgreementMember

 2023-01-22
 2023-01-23

 SHOT:RDAgreementMember

 2023-01-23

 SHOT:ConsultingAgreementMember

 SHOT:CommonStockPayableOneMember

 2022-01-01

 SHOT:ConsultingAgreementOneMember

 SHOT:ConsultingAgreementTwoMember

 SHOT:AssetPurchaseAgreementMember

 2023-07-01
 2023-07-31

 2023-08-01
 2023-08-31

 SHOT:PrivateInvestmentInPublicEquityAndIPOMember

 2023-08-01
 2023-08-31

 SHOT:RestrictedCommonStockMember

 2023-12-01

 SHOT:TwoAgreementMember

 SHOT:ThreeAgreementMember

 SHOT:SettlementAgreementMember

 2021-12-31

 2022-01-01

 SHOT:ExchangeWarrantMember

 SHOT:ExchangeWarrantMember

 SHOT:PIPEAgreementMember

 2023-01-18

 SHOT:PIPEAgreementMember

 SHOT:OneCommonWarrantMember
 SHOT:PIPEAgreementMember

 2023-01-18

 SHOT:TwoCommonWarrantsMember
 SHOT:PIPEAgreementMember

 2023-01-18

 SHOT:EmployeesMember

 SHOT:EmployeesMember

 SHOT:EmployeesMember

 SHOT:EmployeesMember

 SHOT:ConsultantsMember

 SHOT:ConsultantsMember

 SHOT:ConsultantsMember

 SHOT:FiveEmploymentMember

 SHOT:FiveEmploymentMember

 SHOT:FiveEmploymentMember

 SHOT:DirectorAgreementsMember

 SHOT:ScenarioThreeMember

 SHOT:ScenarioThreeMember

 SHOT:ServicesMember

 SHOT:ConvertibleNoteWarrantsMember

 SHOT:SettlementMember

 SHOT:SettlementMember

 us-gaap: PrivatePlacementMember

 SHOT:WarrantConversionsMember

 SHOT:PrimaryTermOneMember

 SHOT:RenewalPeriodOneMember

 SHOT:PrimaryTermTwoMember

 SHOT:RenewalPeriodTwoMember

 SHOT:PrimaryTermThreeMember

 SHOT:RenewalPeriodThreeMember

 SHOT:PrimaryTermFourMember

 SHOT:PrimaryTermFiveMember

 2023-11-30

 2023-11-30
 2023-11-30

 SHOT:IntracoastalSettlementAgreementMember

 2025-01-14

 2023-09-05
 2023-09-05

 2024-02-09
 2024-02-09

 2024-01-16
 2024-01-16

 2024-01-10

 2024-01-10
 2024-01-10

 SHOT:SecuredConvertibleBiggerNoteMember

 SHOT:SecuredConvertibleBiggerNoteMember

 SHOT:ConvertibleBiggerNoteMember

 SHOT:ConvertibleBiggerNoteMember

 SHOT:BiggerWarrantsMember

 2025-01-29
 2025-01-29

 2025-03-31

 2025-03-31

 SHOT:Segment

 UNITED
STATES

 SECURITIES
AND EXCHANGE COMMISSION

 WASHINGTON,
D.C. 20549

 FORM

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For
the fiscal year ended: December 31, 2024

 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934

 Commission
File Number: 001-39569

 (Exact
name of registrant as specified in its charter)

 delaware

 83-2455880

 (State
 or other jurisdiction of

 (I.R.S.
 Employer

 incorporation
 or organization)

 Identification)

 1061
E. Indiantown Rd., Ste. 110

 Jupiter,
 FL 33477

 (Address
of principal executive offices, including zip code)

 (561) 244-7100

 (Registrant's
telephone number, including area code)

 Securities
 registered pursuant to Section 12(b) of the Act:

 None

 Securities
 registered pursuant to Section 12(g) of the Act:

 Title
 of each class

 Trading

 Symbol(s)

 Name
 of each exchange on which registered

 Common
 Stock, par value $0.001 per share

 SHOT

 Nasdaq
 Capital Markets LLC

 Warrants
 to purchase shares of Common Stock, $0.001 par value per share

 SHOTW

 Nasdaq
 Capital Markets LLC

by check mark if the registrant is a well-known seasoned issuer, as defined in 405 of the Securities Act. Yes No

by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes
 No

by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days. Yes No

by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule
405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant
was required to submit such fi les). Yes No

by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company, or emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller
reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

 Large
 accelerated filer

 Accelerated
 filer

 Non-accelerated
 filer

 Smaller
 Reporting Company

 (Do
 not check if smaller reporting company)

 Emerging
 Growth Company

 If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Yes No

 If
securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant
included in the filing reflect the correction of an error to previously issued financial statements.

by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation
received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).

by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No

 State
the aggregate market value of the voting common equity held by non-affiliates computed by reference to the price at which the common
equity was sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most
recently completed second fiscal quarter approximately $ 72,132,393 as of June 30, 2024.

 The
number of shares outstanding of each of the registrant's classes of common stock, as of March 25, 2025, was 74,451,604.

 TABLE
OF CONTENTS

 ITEM 1. BUSINESS

 ITEM 1A. RISK FACTORS

 ITEM 1B. UNRESOLVED STAFF COMMENTS

 ITEM 1C. CYBERSECURITY

 ITEM 2. PROPERTIES

 ITEM 3. LEGAL PROCEEDINGS

 ITEM 4. MINE SAFETY DISCLOSURES.

 ITEM 5. MARKET FOR COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES

 ITEM 6. SELECTED FINANCIAL DATA

 ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURES

 ITEM 9A. CONTROLS AND PROCEDURES

 ITEM 9B. OTHER INFORMATION

 ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

 ITEM 11. EXECUTIVE COMPENSATION

 ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

 ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES

 SIGNATURES

 This
Annual Report on Form 10-K includes the accounts of Safety Shot, Inc., a Delaware corporation ("Safety Shot"). References
in this Report to "we", "our", "us". "Shot", or the "Company" refer to Safety
Shot, Inc. and its consolidated subsidiaries unless the context dictates otherwise.

 FORWARD
LOOKING STATEMENTS

 Certain
statements in this report, including information incorporated by reference, are "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995, as amended. Forward-looking statements reflect current views about future events and financial
performance based on certain assumptions. They include opinions, forecasts, intentions, plans, goals, projections, guidance, expectations,
beliefs or other statements that are not statements of historical fact. Words such as "will," "may," "should,"
"could," "would," "expects," "plans," "believes," "anticipates,"
"intends," "estimates," "approximates," "predicts," "forecasts," "potential,"
"continue," or "projects," or the negative or other variation of such words, and similar expressions may identify
a statement as a forward-looking statement. Any statements that refer to projections of our future financial performance, our anticipated
growth and trends in our businesses, our goals, strategies, focus and plans, and other characterizations of future events or circumstances,
including statements expressing general optimism about future operating results and the development of our products, are forward-looking
statements.

 Although
forward-looking statements in this Annual Report on Form 10-K reflect the good faith judgment of our management, such statements can
only be based on facts and factors currently known by us. Consequently, forward-looking statements are inherently subject to risks and
uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in or anticipated by the
forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, without limitation,
those specifically addressed under the heading "Risk Factors" below, as well as those discussed elsewhere in this Annual
Report on Form 10-K. Readers are urged not to place undue reliance on these forward- looking statements, which speak only as of the date
of this Annual Report on Form 10-K. We file reports with the Securities and Exchange Commission ("SEC"). The public can read
and copy any materials we file with the SEC at the SEC's Public Reference Room at 100 F Street, NE, Washington, DC 20549. You can
obtain additional information about the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. In addition, the
SEC maintains an Internet site (www.sec.gov) that contains reports, proxy and information statements, and other information regarding
issuers that file electronically with the SEC, including us.

 We
undertake no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise
after the date of this Annual Report on Form 10-K. Readers are urged to carefully review and consider the various disclosures made throughout
the entirety of this Annual Report on Form 10-K, which attempt to advise interested parties of the risks and factors that may affect
our businesses, financial condition, results of operations and prospects.

 PART
I

 ITEM
1. BUSINESS

 Overview

Shot Inc. (NASDAQ: SHOT) was formerly known as Jupiter Wellness Inc. In August 2023, the Company successfully completed the asset purchase
of the Safety Shot Dietary Supplement from GBB Drink Lab, Inc. ("GBB"), thereby gaining ownership of various assets, including
the intellectual property, trade secrets, and trademarks associated with its dietary supplement (the "Safety Shot Dietary Supplement").
Concurrently with the asset purchase, the Company changed its name to Safety Shot, Inc. and changed its NASDAQ trading symbol to SHOT.
The Company launched its e-commerce sale of the Safety Shot Dietary Supplement in December 2023. On October 9, 2024, the Company renamed
the Safety Shot Dietary Supplement as the "Sure Shot Dietary Supplement."

 The
Sure Shot Dietary Supplement has been formulated to reduce the accumulation of blood alcohol. Noteworthy is the fact that the Sure Shot
Dietary Supplement comprises 28 active ingredients, all falling under the Generally Regarded As Safe (GRAS) category. Under sections
201(s) and 409 of the Federal Food, Drug, and Cosmetic Act (the Act), any substance that is intentionally added to food is a dietary
supplement, that is subject to premarket review and approval by the FDA, unless the substance is generally recognized, among qualified
experts, as having been adequately shown to be safe under the conditions of its intended use, or unless the use of the substance is otherwise
excepted from the definition of a dietary supplement.

 It's
crucial to note that the Sure Shot Dietary Supplement is currently manufactured in a facility adhering to Good Manufacturing Practices
(GMP), ensuring the highest standards of quality and safety throughout its production process. The Company currently maintains a workforce
comprising eight full-time employees of its own.

 Specializing
in Consumer Packaged Goods, our focus centers on the commercialization of a 12-ounce product positioned as a dietary supplement. Beyond
our existing product, we have introduced new product lines, including a convenient powdered stick pack version and a 4-ounce
version of the Sure Shot Dietary Supplement.

 The
Company has discontinued the historical product lines of Jupiter Wellness which included a diverse range of products, such as hair loss
treatments, vitiligo solutions, and sexual wellness products, that catered to different health and wellness needs and our commitment
to supporting health and wellness by developing innovative solutions to a range of conditions. In connection therewith, on September
24, 2024, the Company entered into a Separation and Exchange Agreement with its subsidiary Caring Brands, Inc. whereby Caring Brands
will seek to commercialize this product line. Caring Brands will be responsible for all costs associated with the operation of that line
of business. The Company will focus its efforts on the commercialization of the Sure Shot Dietary Supplement. The Company will retain
ownership of 3,000,000 shares of Caring Brands, Inc.

 The
Company entered into a stock exchange agreement (the "Exchange Agreement") with SRM Entertainment, Inc. ("SRM")
to govern the separation of SRM and the Company. On May 26, 2023, we amended and restated the Exchange Agreement (the "Amended
and Restated Exchange Agreement") to include additional information regarding the distribution and the separation of SRM and the
Company. The separation as set forth in the Amended and Restated Exchange Agreement with the Company closed August 14, 2023. Pursuant
to the Amended and Restated Exchange Agreement, on May 31, 2023, SRM issued to the Company 6,500,000 shares of SRM Common Stock (representing
79.3% of SRM's outstanding shares of Common Stock) in exchange for 2 ordinary shares of SRM Ltd owned by the Company (representing
all of the issued and outstanding ordinary shares of SRM) (the "Share Exchange"). On August 14, 2023, SRM consummated its
Initial Public Offering ("IPO"), pursuant to which it sold 1,250,000 shares of its common stock at a price of $5.00 per share.
In connection with the Share Exchange and SRM's IPO, the Company distributed 2,000,000 shares of SRM's common stock to the
Company's stockholders and certain warrant holders (out of the 6.5 million shares issued in May 2023) which occurred on the effective
date of the Registration Statement but prior to the closing of the IPO. Following such distribution, the Company owns 4.0 million of
the 9,450,000 shares of common stock outstanding and SRM is now a minority owned subsidiary of the Company.

 To
achieve our mission, we rely on our team of highly skilled and experienced professionals who are committed to advancing our vision of
health and wellness. Our team includes individuals with scientific backgrounds, an experienced researcher, product developers, and business
experts who collaborate to create new products and enhance existing ones. We also seek to partner with industry leaders and organizations
to gain access to the latest technologies and expand our reach.

 The
Sure Shot Dietary Supplement is currently sold through e-commerce and in retail stores. In addition, we are seeking to collaborate with
other companies to license our intellectual property, to create additional revenue streams and expand our global presence. At present,
we do not experience concentration risk or dependence on major customers.

 We
maintain a diverse network of raw material suppliers integral to our production processes. Acquisition strategies encompass both direct
procurement and collaborative efforts with our co-packers. The selection of suppliers is contingent upon various factors, including ingredient
specificity, availability, and other essential considerations. Notably, these suppliers coincide with those currently providing materials
to other facilities engaged in the manufacturing of drinks, powders, tablets, and capsules. Our roster of suppliers comprises reputable
entities such as Jiaherb, Compound Solutions, Kyowa-Hakko, Mitsubishi Ingredients, Nura, Sensapure Flavors, Brenntag, E3 Ingredients,
Ingredients Online, among others. This strategic alliance with established industry players underscores our commitment to sourcing high-quality
raw materials essential for the production of our innovative product line. Furthermore, our approach to supplier relationships reflects
a dedication to maintaining a seamless and reliable supply chain. We believe that this not only ensures the consistency of our current
offerings but also positions us favorably for future developments. The Management believes that as we continue to expand our product
portfolio, we believe that these partnerships with trusted suppliers play a pivotal role in upholding the standards that we expect of
our brand.

 Products
Roadmap

 The
Sure Shot Dietary Supplement was launched on our own website and through Amazon in December 2023 and with several Big Box stores. The
Company is advancing several product formats and formulations to continue to offer a wide array of products that can be purchased at
various locations that coincide with consumer shopping habits. In particular, the Company plans to develop new flavors for
each of its current SKUs (12oz., 4 oz. and "Stick Pack". In addition, the current formula will be offered at various dosages
and the Company plans to conduct additional research studies as follows: assessing varying dosages of the Sure Shot Dietary Supplement
against body weight, gender and age, examining several current and proposed ingredients with respect to their specific role in reducing
BAC and how they affect the enzymatic activity associated with the metabolism of alcohol, and finally, examining additional markers with
respect to improving post-alcohol consumption symptoms and feelings.

 The
Company intends to perform the additional research studies in Q2 and Q3 of 2025. The Company will continue to sponsor the studies and
intends to work with the Center for Applied Health Sciences ("CAHS") in Canfield, OH. The participants will be selected based
upon the parameters of the individual studies and the Company will follow the same protocols employed in the clinical trials at the CAHS
described in more detail below in "Research and Development."

 Research
and Development

 Our
research and development team in continually looking to develop new therapeutic products, while continually improving and enhancing our
existing products and product candidates to address customer demands and emerging trends.

 We
have conducted extensive informal research and experimentation involving a substantial number of volunteers under the influence of alcohol.
Our findings indicate that the Sure Shot Dietary Supplement can reduce a person's Blood Alcohol Content, as measured by the premier
Breathalyzer on the market. We have recently completed our clinical trials of the Sure Shot Dietary Supplement which have shown a statistically
significant reduction in the Blood Alcohol Content ("BAC") of the participants. The observable enhancements in cognitive
abilities among the test subjects have been carefully documented.

 The
clinical trials took place from January 29, 2024, through June 10, 2024, at the CAHS located at 6570 Seville Drive, Canfield, OH 44406.
The clinical trials were sponsored and paid for by the Company and consisted of 36 participants with a mean age of 36.3 years that were
selected through advertising of the study. The Company did not inquire about the participants typical level of alcohol consumption but
each participant had to qualify based upon a complete medical history questionnaire, release from physicians and submitting to a standard
bloodwork panel. Each participant consumed exactly 100 mL of alcohol and the BAC of the participants ranged from 0.047 % to 0.068 %.
The participants were not employees of the Company nor affiliated with the Company in any way. The clinical trials were a double-blind,
randomized, placebo-controlled study that found that within 30 minutes of the consumption of the Sure Shot Dietary Supplement, the monitored
participants saw a statistically significant drop of p=.002 in BAC and continued to see measurable drops in successive 30-minute increments.
The results were measured by using a DOT-approved BACtrack S80 Breathalyzer on the participants to determine their BAC after ingesting
several alcoholic beverages, followed by drinking 12 ounces of the Sure Shot Dietary Supplement and then measuring the participants'
BAC 30 minutes later. In addition, cognitive responses were measured using the Visual Analogue Scale ("VAS") and physical
function assessed at the same intervals as the blood draws and breathalyzer assessments to correlate to function. The VAS consisted of
a 10 cm, straight line with end points that measured from low-to-high for a number of physical feelings and sensations. The participants
were asked to mark a point on the line that corresponded with their experience. The distance from the end to the point marked by the
participant was then measured in millimeters to quantify their level of sensation. On each visit, participants were asked to perform
the VAS tests and the VAS assessed subjective ratings for head discomfort (headache), nausea, fatigue, energy, tiredness, thirst and
ability to concentrate. The Company also conducted further physical assessment by monitoring biometric measurements such as blood pressure
and heart rate at various intervals. The key assumptions in the study were that the participants would demonstrate a marked decrease
in BAC following the consumption of the Sure Shot Dietary Supplement versus that of the placebo. In addition, the study assumed that
the participants would feel better and demonstrate marked improvement in cognitive skills and physical function following the consumption
of the Sure Shot Dietary Supplement versus that of the placebo. The Company had previously observed in our numerous, pre-clinical tests
that participants who consumed significant amounts of alcohol (more than two drinks) experienced marked and rapid reductions in their
BAC when measured by BACTrack S80 breathalyzers after consumption of the Sure Shot Dietary Supplement. In addition, the Company observed
in the pre-clinical tests that the participants showed significant improvement in motor function and reduction in slurred speech and
other markers commonly associated with alcohol consumption. These findings led the Company to continue to develop the Sure Shot Dietary
Supplement and commission a clinical study to prove our hypothesis. There were five adverse events amongst the participants in the study.
Four of the adverse events were associated with the Sure Shot Dietary Supplement (three felt nauseous and one developed a rash) and none
of the adverse events were serious. The final adverse event was associated with congestion of the placebo.

 Since
approximately 2010, the Company has performed 100s of pre-clinical tests in an effort to develop and perfect the Sure Shot Dietary Supplement.
These informal, pre-clinical tests included friends, family and other volunteers who consumed alcohol at varying levels and then were
tested prior to the consumption of the Sure Shot Dietary Supplement. The pre-clinical tests were neither peer reviewed nor were the subjects
screened prior to their participation. In addition, the VAS was not used nor were there any placebos or other control measures taken
in the pre-clinical tests and as such these tests are considered informal and non-clinical. The participants' BAC was measured
by using the BacTrack S80 after the consumption of various amounts of alcohol and prior to the consumption of the Sure Shot Dietary Supplement
and then at 30 minutes, 45 minutes and one-hour intervals after consumption of the Sure Shot Dietary Supplement so we could assess the
efficacy of the Company's R&D efforts at that point in time. The Company also observed motor function skills such as walking,
balancing and speech at the same intervals following the consumption of 12 ounces of the Sure Shot Dietary Supplement. The Company defined
and noted the significant improvement in each area by observing participants' walk and whether a participant's gait was unsteady,
or whether their balance was off while standing and whether their speech was clear or slurred. The Company incurred research and development
expenses of $100,591 and $1,637,117 for the years ended December 31, 2022, and 2023, respectively.

 Sales
and Marketing

 We
primarily sell our products through e-commerce websites including Amazon and through retail stores. To drive loyalty, word-of-mouth marketing,
and sustainable growth, we invest in customer experience and customer relationship management. Our marketing investments are directed
towards driving profitable growth through advertising, public relations, and brand promotion activities, including digital platforms,
sponsorships, collaborations, brand activations, and channel marketing. Additionally, we continue to invest in our marketing and brand
development efforts by investing capital expenditures on product displays to support our channel marketing via our retail partners. We
launched the Sure Shot Dietary Supplement in stores such as BevMo! in the second quarter of 2024.

 Manufacturing,
Logistics and Fulfillment

 We
outsource the manufacturing of our products to contract manufacturers, who produce them according to our formulation specifications.
Our products are manufactured by contract manufacturers in India and the US. The majority of our products will then be shipped to third-party
warehouses and to our corporate offices, which can either transport them to our distributors, retailers, or directly to our customers.
Our third-party warehouses are located in the US. We use a limited number of logistics providers to deliver our products to both distributors
and retailers, which allows us to lessen order fulfillment time, cut shipping costs, and improve inventory flexibility.

 Our
Competitive Strengths

 We
are committed to driving continuous improvement through innovation. Since our inception, we have made significant investments in research
and development and have acquired a substantial portfolio of intellectual property, which continues to grow each year. Our commitment
to innovation has allowed us to create unique products that address unmet needs in the market, all backed by rigorous clinical research.
We believe that our focus on research and development is designed to enable us to stay ahead of the curve and provide our customers with
products that are not only effective but also innovative. We take pride in our patent portfolio and the continuous growth we have achieved,
as we believe that it showcases our dedication to creating new and unique solutions for our customers. By staying committed to innovation,
we are confident in our ability to meet the ever-changing needs of the health and wellness market. We believe that the Sure Shot Dietary
Supplement stands as a unique product in the liquid dietary supplement market. Nevertheless, our competitive landscape includes many
companies involved in the production of health and welfare products, including beverages.

 Recent
Developments

 Settlement
Agreement with Bigger Capital

 On
January 20, 2025, the Company entered into the Bigger Settlement Agreement. In exchange for a resolution to all issues and claims that
relate to the previously filed action against the Company in the Supreme Court of the State of New York, New York County, Index No. 65018/2024.
Pursuant to the Bigger Settlement Agreement, the Company agreed to pay or issue to Bigger Capital the following: (i) pay Bigger Capital
$375,000; (ii) issue a secured convertible note in the principal amount of $1.75 million maturing on December 31, 2026 (the "Secured
Convertible Bigger Note"); (iii) a convertible note in the principal amount of $3.5 million maturing June 30, 2025 (the "Convertible
Bigger Note," and, together with the Secured Convertible Bigger Note, the "Bigger Notes"); and (iv) 5,332,889 shares
of common stock issuable upon the exercise of common stock purchase warrants to purchase shares of common stock of the Company at an
exercise price of $0.4348 per share (the "Bigger Warrants"). A significant shareholder of the Company and Bigger Capital
entered into a voting agreement in favor of Bigger Capital in addition to the Bigger Settlement Agreement. The Bigger Settlement Agreement
is filed herein as Exhibit 10.32. The Secured Convertible Bigger Note is filed herein as Exhibit 4.5 and the Convertible Bigger Note
is filed herein as Exhibit 4.6.

 The
Secured Convertible Bigger Note

 The
Secured Convertible Bigger Note accrues interest on the unpaid principal amount therein at the rate of nine percent (9%) per annum from
January 20, 2025 until the earlier to occur of (i) the date such unpaid principal amount is paid in full, or (ii) the date such unpaid
principal amount is converted into shares of the Company's common stock, in accordance with the terms hereof, and shall be computed
on the basis of a 360-day year for the actual number of days elapsed. Interest accruing hereunder shall be paid either in cash or in
shares of the common stock.

 At
the option of its holder, the holder of the Secured Convertible Bigger Note may convert all or any portion of the outstanding principal
amount of the Secured Convertible Bigger Note plus accrued and unpaid interest thereon, for a number of shares of common stock of the
Company equal to the quotient obtained by dividing the dollar amount of such outstanding principal amount of the Secured Convertible
Bigger Note plus the accrued and unpaid interest thereon being converted by the Secured Convertible Bigger Note Conversion Price (as
defined below) as of the applicable conversion date.

 "Secured
Convertible Bigger Note Conversion Price" means the lesser of (i) $0.5435 per share and (ii) the closing price of the Company's
common stock, as reflected on Nasdaq.com, immediately preceding the date of Stockholder Approval (as defined below), subject to adjustment
as provided in the Secured Convertible Bigger Note.

 "Stockholder
Approval" means such approval as may be required by the applicable rules and regulations of the Nasdaq Capital Market (or any successor
entity) from the stockholders of the Company with respect to the transactions contemplated under the Secured Convertible Bigger Note
and the other Transaction Documents (as defined in the Secured Convertible Bigger Note), including, without limitation, the issuance
of all of the shares of common stock issuable thereunder, including in an amount that would, when aggregated with (i) the number of shares
issued upon any prior conversions of the Convertible Bigger Note, and (ii) the number of shares issued upon any prior exercises of the
Bigger Warrant, exceed 19.99% of the issued and outstanding Common Stock on January 20, 2025, at a price less than the market value of
the Company's common stock on January 20, 2025.

 The
Convertible Bigger Note

 Interest
shall accrue on the unpaid principal amount of the Convertible Bigger Note at the rate of nine percent (9%) per annum from January 20,
2025 until the earlier to occur of (i) the date such unpaid principal amount is paid in full, (ii) the date such unpaid principal amount
is converted into shares of the Company's common stock, in accordance with the terms of the Convertible Bigger Note, or (iii) the
date the Company otherwise satisfies its Repayment Obligation (as defined in Convertible Bigger Note) in respect of such outstanding
principal amount via an Alternative Payment Method (as defined in Convertible Bigger Note).

 Upon
the maturity date of the Convertible Bigger Note, at the Company's discretion, the Company will have the option to either (i) repay
the Convertible Bigger Note in full including any accrued interest, (ii) issue a $2,000,000 SAFE Note, or (iii) a $4.5 million convertible
note bearing a 9% interest rate, maturing on December 31, 2027 (the "Replacement Bigger Note"). The form of the Replacement
Bigger Note is filed herein as Exhibit 4.8.

 At
the option of its holder, the holder of the Convertible Bigger Note may convert all or any portion of the outstanding principal amount
of the Convertible Bigger Note plus accrued and unpaid interest thereon, for a number of shares of common stock of the Company equal
to the quotient obtained by dividing the dollar amount of such outstanding principal amount of the Convertible Bigger Note plus the accrued
and unpaid interest thereon being converted by the Convertible Bigger Note Conversion Price (as defined below) as of the applicable conversion
date.

 "Convertible
Bigger Note Conversion Price" means $0.5435 per share, subject to adjustment as provided under the Convertible Bigger Note.

 The
Bigger Warrants

 Pursuant
to the Bigger Settlement Agreement, the Company agreed to exchange the 1,650,050 warrants held by Bigger Capital for a total of 5,332,889
warrants exercisable for $0.43 (the latter warrants, the "Bigger Warrants"). The Bigger Warrants contain customary adjustment
provisions and representation and warranties. The Bigger Warrants are exercisable for a five year period following their issuance date.
The Bigger Warrants are filed herein as Exhibit 4.7.

 Registration
Rights

 Pursuant
to the Bigger Settlement Agreement, the Company shall promptly file a registration statement for shares of the Company's Common
Stock equal to 150% of the shares initially issuable upon exercise of the Bigger Notes (the "Registrable Bigger Securities"),
which filing shall be no later than ten (10) business days after the execution of the Settlement Agreement. The Company shall diligently
take all steps necessary for the registration statement to become effective as soon as practicable and shall thereafter maintain the
registration statement until the Registrable Bigger Securities are sold. Upon receiving notification from the SEC that either the registration
statement relating to the Registrable Bigger Securities have received a "no review" from the SEC or that the SEC has no additional
comments to the registration statement, the Company will take all action necessary to ensure that the registration statement has been
declared effective within two business days of either such notification.

 Settlement
Agreement with Intracoastal Capital, LLC

 On
January 14, 2025, the Company entered into the Intracoastal Settlement Agreement with Intracoastal Capital. In exchange for a resolution
to all issues and claims that relate to the previously filed action against the Company in the Supreme Court of the State of New York,
New York County, Index No. 655967/2023. Pursuant to the Intracoastal Settlement Agreement, the Company agreed to issue to Intracoastal
Capital the following: (i) shares of the Company's common stock with a value of $875,000, as set forth below (the "Intracoastal
Settlement Shares") and (ii) a settlement payment of $175,000. The number of Intracoastal Settlement Shares shall be the greater
of the Initial Share Amount (as defined below) or the Adjusted Share Amount (as defined below).

 "Adjusted
Share Price" means the lesser of (i) the volume weighted average price of the Company on the five trading days prior to the day
that the registration statement registering the Intracoastal Settlement Shares becomes effective or (ii) the closing price for the Company
on the day prior to such registration statement becomes effective. In such event, the Company shall deliver within two (2) business days
additional shares of common stock so that Intracoastal Capital receives, in total, an amount equal to 875,000 divided by the Adjusted
Share Price.

 "Initial
Share Amount" means an amount equal to 875,000 divided by the Initial Share Price. The Initial Share Amount shall be subject to
adjustment if the Adjusted Share Price is lower than the Initial Share Price.

 "Initial
Share Price" means the lesser of the volume weighted average price for the Company, as reported on the Nasdaq, on the five trading
days prior to the execution of the Intracoastal Settlement Agreement, or (ii) the closing price of the Company, as reported on the Nasdaq
on the day prior to the execution of the Intracoastal Settlement Agreement.

 The
Intracoastal Settlement Agreement is filed herein as Exhibit 10.33.

 Settlement
with Alta Partners, LLC

 On
or about January 18, 2024, Alta Partners, LLC, ("Alta") filed a lawsuit against the Company in the federal district court
for the Southern District of New York, case captioned, Alta Partners, LLC v. Safety Shot, Inc. No. 24-cv-373 (S.D.N.Y.) (the "Litigation").
The Litigation stems from the Company's warrants to purchase shares of Company common stock and asserted causes of action for Breach
of Contract, Breach of the Implied Covenant of Good Faith and Fair Dealing and violation of Section 11 of the Securities Act of 1933.
The Litigation sought compensatory, general and liquated damages in an amount to be proven at trial. On or about January 29, 2025, the
Company settled this litigation by agreeing to pay $350,000 in exchange for a release of all claims by Alta.

 Consulting
Agreement with Blue Capital S.A., LLC

 On
January 18, 2025, the Company entered into a Consulting Agreement with Blue Capital S.A., LLC., a United Arab Emirates limited company
("Blue Capital") pursuant to which Blue Capital shall provide the Company with services as stated therein, for a period of
five (5) year term commencing on February 1, 2025. The Company shall issue to Blue Capital 4,545,454 options to purchase shares of the
Company's common stock, par value $0.001 (the "Common Stock") at $0.44 per shares (the "Blue Capital Options").
The Blue Capital Options shall vest in equal quarterly installments such that 2,272,727 Options shall vest on August 1, 2025, and 2,272,727
Blue Capital Options shall vest on February 1, 2026. The Consulting Agreement with Blue Capital is filed as Exhibit 10.34.

 January
2025 PIPE Investment

 On
January 17, 2025, the Company entered into a Securities Purchase Agreement with one accredited investor for the purchase of 2,277,389
shares for gross proceeds of $1,000,000 at a price of $0.4391 per share, which reflects a 20% discount from the closing price of the
common stock on January 14, 2025. The Securities Purchase Agreement is filed herein as Exhibit 10.35.

 Notice
of Nasdaq Listing Deficiency

 On
January 2, 2025, the Company received a notice from The Nasdaq Stock Exchange ("Nasdaq") that the closing bid price for our
common stock had been below $1.00 per share for the previous 30 consecutive days, and that we are therefore not in compliance with the
minimum bid price requirement for continued inclusion on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) ("Rule
5550(a)(2)"). Nasdaq's notice has no immediate effect on the listing or trading of our common stock on the Nasdaq Capital
Market.

 The
notice indicates that we will have 180 calendar days, until July 1, 2025, to regain compliance with this requirement. We can regain compliance
with the $1.00 minimum bid listing requirement if the closing bid price of our common stock is at least $1.00 per share for a minimum
of ten (10) consecutive business days during the 180-day compliance period.

 If
the Company does not regain compliance during the initial compliance period, we may be eligible for an additional 180 day period to regain
compliance. To qualify, we would be required to meet the continued listing requirement for market value of our publicly held shares and
all other Nasdaq initial listing standards, with the exception of the minimum bid price requirement under Rule 5550(a)(2), and we would
need to provide written notice to Nasdaq of our intention to cure the deficiency during the second compliance period. If it appears to
Nasdaq that we will not be able to cure the deficiency, or if we are otherwise not eligible, we expect that Nasdaq will notify us that
our common stock will be subject to delisting. We will have the right to appeal a determination to delist our common stock, and our common
stock would remain listed on The Nasdaq Capital Market until the completion of the appeal process.

 We
intend to actively monitor the minimum bid price of our common stock and may, as appropriate, consider available options to regain compliance
with Rule 5550(a)(2), including undertaking a reverse stock split. However, there can be no assurance that the Company will be able to
regain compliance with Rule 5550(a)(2).

 Arrangement
Agreement with Yerbae Brands Corp.

 On
January 7, 2025, the Company entered into a definitive Arrangement Agreement (the "Arrangement Agreement") with Yerba
Brands Corp., ("Yerba "), a corporation organized under the laws of the Province of British Columbia, pursuant to
which, among other things, the Company will acquire all of the issued and outstanding common shares of Yerba (the "Arrangement").
The Arrangement will be implemented by way of a plan of arrangement (the "Plan of Arrangement") in accordance with the Business
Corporations Act (British Columbia) and is subject to approval by the Supreme Court of British Columbia (the "Court"), the
stockholders of the Company and the shareholders of Yerba, among other customary closing conditions for a transaction of this
nature and size.

 Consideration

 On
the terms and subject to the conditions of the Arrangement Agreement and the Plan of Arrangement, at the effective time of the Arrangement
(the "Effective Time") all of the common shares of Yerba then issued and outstanding immediately prior to the Effective
Time (including the common shares of Yerba to be issued on the settlement of all of the performance share units and restricted
share units of Yerba, which will be settled immediately prior to the Effective Time) will be acquired by the Company in consideration
for the right to receive an aggregate of 20,000,000 shares of common stock of the Company (collectively, the "Consideration Shares").
Each option (each a "Replaced Option") to purchase common shares of Yerba outstanding immediately prior to the Effective
Time (whether or not vested) will be deemed to be exchanged for an option ("Replacement Option") entitling the holder to
purchase shares of common stock of the Company. The number of shares of common stock of the Company underlying each Replacement Option
will equal the number of common shares of Yerba underlying the corresponding Replaced Option multiplied by the exchange ratio.
The exercise price of each Replacement Option will equal the exercise price of the corresponding Replaced Option divided by the exchange
ratio and each Replacement Option will be fully vested. In accordance with the respective terms of Yerba 's outstanding
warrants and debentures, the terms of each warrant and debenture of Yerba will entitle the holder thereof to receive, upon exercise
or conversion, as applicable, in substitution for the number of Yerba common shares subject to such warrant or debenture, a number
of shares of Company common stock. In addition, if the Arrangement is consummated, the Company will pay up to $500,000 of Yerba 's
transaction expenses.

 Representations
and Warranties; Covenants

 Pursuant
to the Arrangement Agreement, each of the Company and Yerba made customary representations and warranties for transactions of
this type. All of the representations and warranties of the Company and Yerba will expire and be terminated at the Effective
Time. Each of the Company and Yerba have also agreed to be bound by certain covenants that are customary for transactions of
this type, including obligations of the parties during the period between the date of the execution of the Arrangement Agreement and
the Effective Time (the "Interim Period") to, in all material respects, conduct their respective businesses in the ordinary
course consistent with past practice, and to refrain from taking certain specified actions without the prior written consent of the other
party, in each case, subject to certain exceptions and qualifications. The covenants and agreements of the Company and Yerba
that by their terms are to be performed at or after the Effective Time shall, in each case, survive until fully performed.

 Closing
Conditions

 The
respective obligations of each party to consummate the Arrangement are subject to the satisfaction or waiver of certain customary mutual
closing conditions, including (i) the issuance of the interim and final orders by the Court with respect to the Arrangement; (ii) the
adoption by the requisite Yerba shareholders of a resolution approving the Arrangement (the "Yerba Shareholder
Approval"); (iii) the approval by the requisite Company stockholders of the issuance of the Consideration Shares and an amended
and restated equity incentive plan reserving a number of shares of Company common stock equal to no less than 10% of the fully diluted
shares of Company common stock issued and outstanding immediately following the Effective Time (the "Company Stockholder Approval");
(iv) the absence of any law or order prohibiting, rendering illegal or permanently enjoining the consummation of the Arrangement; (v)
the obtainment of any regulatory approvals required in connection with the Plan of Arrangement, except for such approvals the failure
of which to obtain would not reasonably be expected to have a material adverse effect on the parties or would not materially impede or
delay the completion of the Arrangement; (vi) the approval by the TSX Venture Exchange;

 the
approval of the listing of the Consideration Shares by Nasdaq; (viii) the exemption of the issuance of the Consideration Shares from
the registration requirements of the Securities Act, pursuant to Section 3(a)(10) thereof; (ix) that the representations of the other
party in the Arrangement Agreement are true and correct as of the date of the Arrangement Agreement and the Effective Time (subject to
certain materiality qualifiers) and (x) that the other party will have complied in all material respects with its covenants in the Arrangement
Agreement.

 Additionally,
the obligation of the Company to consummate the Arrangement is subject to the satisfaction or waiver of the following conditions, among
others: (i) that there will not have occurred during the Interim Period any material adverse effect with respect to Yerba; (ii)
that the Company shall have received Support Agreements (as defined below) from certain shareholders of Yerba representing not
less than 40.1% of the issued and outstanding common shares of Yerba (collectively, the "Supporting Yerba Shareholders")
no later than 30 days following the date of the Arrangement Agreement (and such shareholders shall not have breached their obligations
or covenants thereunder in any material respect as of the Effective Time); and (iii) that the Yerba shareholders shall have not
validly exercised and not withdrawn dissent rights with respect to more than 5% of the common shares of Yerba then outstanding.

 The
obligation of Yerba to consummate the Arrangement is also conditioned upon (i) the Company appointing Todd Gibson to the board
of directors of the Company as of the Effective Time and (ii) that there will not have occurred during the Interim Period any material
adverse effect with respect to the Company.

 The
Arrangement Agreement is filed herein as Exhibit 10.36.

 Equity
Disbursement Agreement with Maxim Group LLC

 On
December 6, 2024, the Company entered into an Equity Disbursement Agreement (the "Sales Agreement") with Maxim Group LLC
(the "Sales Agent") pursuant to which the Company may offer and sell, from time to time, in its sole discretion, shares of
its common stock, having an aggregate offering price of up to $5,000,000, subject to certain limitations on the amount of common stock
that may be offered and sold by the Company set forth in the Sales Agreement. The Company is not obligated to make any sales of common
stock under the Sales Agreement and any determination by the Company to do so will be dependent, among other things, on market conditions
and the Company's capital raising needs.

 Any
shares offered and sold in the at-the-market offering will be issued pursuant to the registration statement on Form S-3 (File No. 333-267644),
initially filed by the Company with the Securities and Exchange Commission (the "Commission") under the Securities Act on
September 28, 2022, and declared effective on November 9, 2022, and the prospectus supplement relating to the at-the-market offering
filed with the SEC on December 6, 2024, and any applicable additional prospectus supplements related to the at-the-market offering that
form a part of the registration statement.

 The
Sales Agent may sell the shares of common stock by any method deemed to be an "at the market offering" as defined in Rule
415(a)(4) of the Securities Act, including sales made through Nasdaq, or any other trading market for the common stock, sales made to
or through a market maker other than on an exchange or through an electronic communications network, or in negotiated transactions pursuant
to terms set forth in a placement notice delivered by the Company to the Sales Agent under the Sales Agreement. Upon delivery of a placement
notice and subject to the terms and conditions of the Sales Agreement, the Sales Agent will use commercially reasonable efforts, consistent
with its normal trading and sales practices, applicable state and federal law, rules and regulations, and the rules of Nasdaq, to sell
the shares from time to time based upon the Company's instructions, including any price, time or size limits specified by the Company.
The Sales Agent is not obligated to purchase any shares of common stock on a principal basis pursuant to the Sales Agreement.

 The
Company will pay the Sales Agent a commission equal to 3.0% of the gross sales proceeds of any shares sold through the Sales Agent under
the Sales Agreement, and also has provided the Sales Agent with customary indemnification and contribution rights. The Sales Agreement
contains customary representations and warranties and conditions to the placements of the shares pursuant thereto, obligations to sell
shares under the Sales Agreement are subject to satisfaction of certain conditions, including customary closing conditions.

 The
Sales Agreement is filed as Exhibit 10.37.

 Separation
and Exchange Agreement with Caring Brands, Inc.

 On
September 24, 2024, the Company entered into a Separation and Exchange Agreement (the "Separation Agreement") with Caring
Brands, Inc., a Nevada corporation ("CB Nevada"), Caring Brands, Inc, a Florida corporation ("CB Florida") and
Brian S. John, as the representative of the shareholders of CB Florida (the "Representative"). The Company, along with the
other shareholders of CB, exchanged 100% of the issued and outstanding shares of common stock of CB Florida (the "Exchange")
for the CB Nevada shares of common stock, including the 3,000,000 shares of CB Nevada common stock received by the Company. Pursuant
to the Separation Agreement, the Company's business segment that creates and sells innovative wellness consumer products industries
(the "CB Business") along with the assets, intellectual property and liabilities related thereto were transferred to CB Nevada.

 The
Separation Agreement is filed herein as Exhibit 10.38.

 Consulting
Agreement with Core 4 Capital Corp.

 On
September 23, 2024, the Company entered into a Consulting Agreement with Core 4 Capital Corp. ("Core 4 Consulting Agreement"),
a New York corporation ("Core 4 Capital Corp."), pursuant to which Core 4 shall provide the Company with services as stated
therein, for a period of six (6) month term commencing on October 1, 2024. The Company shall issue 1,250,000 shares of the Company's
restricted stock. This stock will vest in equal quarterly installments such that 625,000 shares shall vest on December 31, 2024, and
625,000 shares shall vest on March 31, 2025.

 The
Company's President, Jordan Schur is a 15% owner of Core 4 Capital Corp. but is not an officer or director of this entity. Other
shareholders of Core 4 are also members of Mr. Schur's immediate family (but not dependents).

 The
Core 4 Consulting Agreement is filed as Exhibit 10.39.

 Core
4 Capital Corp. Stock Purchases

 On
August 30, 2024, the Company entered into a Securities Purchase Agreement with Core 4 Capital Corp. for the purchase of (i) 3,370,787
shares of the Company's common stock at a price of $0.89 per share which was the closing price on August 29, 2024; and (ii) 3,370,787
warrants to purchase shares of common stock at a price of $0.125 per warrant. These warrants are exercisable for a period of five years
from the date of issuance and have an exercise price of $0.89. The Company's President, Jordan Schur, is a 15% owner of the Investor,
but is not an officer or director of such Investor. Other shareholders of the Investor are also members of Mr. Schur's immediate
family (but not dependents). The Company did not pay any commissions in connection with this offering and expects net proceeds of approximately
$3,421,348 from the offering. This Securities Purchase Agreement is filed as Exhibit 10.40. These warrants are filed as Exhibit 10.41.

 On
June 27, 2024, the Company entered into a Securities Purchase Agreement with Core 4 Capital Corp. for the purchase of 943,396 shares
of common stock of the Company at a price of $1.06 per share, which was the closing price on June 27, 2024). The Company paid no commissions
in connection with this securities purchase and the net proceeds were approximately $1,000,000. This Securities Purchase Agreement is
filed as Exhibit 10.42.

 On
April 4, 2024, the Company entered into a Securities Purchase Agreement with Core 4 Capital Corp. for the purchase of 2,369,668 shares
of the Company's common stock to Core 4 Capital Corp. at a price of $2.11 per share, which was the closing price on April 4, 2024.
The Company paid no commissions in connection with this securities purchase and net proceeds thereto were approximately $4,975,000. This
Securities Purchase Agreement is filed as Exhibit 10.43.

 Management
Employment Agreements

 John
Gulyas Employment Agreement

 On
December 16, 2024, the Company entered into an employment agreement ("Gulyas Agreement") with John Gulyas, pursuant to which
Mr. Gulyas will serve as the Company's Executive Chairman of the board of directors. The Agreement provides for (A) a $300,000
annual base salary paid in equal installments on the Company's regular pay dates no less frequently than bi-monthly, (B) a restricted
stock award of 1,000,000 shares of Company's common stock fully vested as of the date therein, an incentive bonus of $100,000 and
500,000 restricted shares of Company's common stock if the Company achieves a combined revenue of $500,000 for Q1 and Q2 of 2025,
(D) an incentive bonus of $100,000 and 500,000 restricted shares of Company's common stock if the Company achieves a combined revenue
of $1,000,000 for Q3 and Q4 of 2025, and (E) other customary employee benefits. On or about March 3, 2025, the Company amended the Gulyas
Agreement by changing Section 5. b. to read, Restricted Stock. As part of his employment, Employee shall receive a grant of 1,000,000
shares of Company restricted common stock (the "RSUs") as compensation for work performed in 2025 and 2026. The 1,000,000
RSUs will start vesting on April 1, 2025, in quarterly increments over the following year as follows: 250,000 will vest on July 1, 2025;
250,000 will vest on October 1, 2025; 250,000 will vest on January 1, 2026, and 250,000 will vest on April 1, 2026.

 The
Gulyas Agreement is filed herein as Exhibit 10.44.

 Jordon
Schur Employment Agreement

 On
December 16, 2024, the Company entered into an employment agreement with Jordon Schur (the "Schur Agreement"), pursuant to
which Mr. Schur will serve as the Company's President. The Agreement provides for (A) a $300,000 annual base salary paid in equal
installments on the Company's regular pay dates no less frequently than bi-monthly, (B) a restricted stock award of 1,000,000 shares
of Company's common stock fully vested as of the date therein, (C) an incentive bonus of $100,000 and 500,000 restricted shares
of Company's common stock if the Company achieves a combined revenue of $500,000 for Q1 and Q2 of 2025, (D) an incentive bonus
of $100,000 and 500,000 restricted shares of Company's common stock if the Company achieves a combined revenue of $1,000,000 for
Q3 and Q4 of 2025, and (E) other customary employee benefits. On or about March 3, 2025, the Company amended the Schur Agreement by changing
Section 5. b. to read, Restricted Stock. As part of his employment, Employee shall receive a grant of 1,000,000 shares of Company
restricted common stock (the "RSUs") as compensation for work performed in 2025 and 2026. The 1,000,000 RSUs will start vesting
on April 1, 2025, in quarterly increments over the following year as follows: 250,000 will vest on July 1, 2025; 250,000 will vest on
October 1, 2025; 250,000 will vest on January 1, 2026, and 250,000 will vest on April 1, 2026.

 The
Schur Agreement is filed as Exhibit 10.45.

 Jarrett
Boon Employment Agreement

 On
December 16, 2024, the Company entered into an employment agreement with Jarrett Boon (the "Boon Agreement"), pursuant to
which Mr. Boon will serve as the Company's Chief Executive Officer. The Boon Agreement provides for (A) a $300,000 annual base
salary paid in equal installments on the Company's regular pay dates no less frequently than bi-monthly, (B) a restricted stock
award of 1,000,000 shares of Company's common stock fully vested as of the date therein, (C) an incentive bonus of $100,000 and
500,000 restricted shares of Company's common stock if the Company achieves a combined revenue of $500,000 for Q1 and Q2 of 2025,
(D) an incentive bonus of $100,000 and 500,000 restricted shares of Company's common stock if the Company achieves a combined revenue
of $1,000,000 for Q3 and Q4 of 2025, and (E) other customary employee benefits. On or about March 3, 2025, the Company amended the Boon
Agreement by changing Section 5. b. to read, Restricted Stock. As part of his employment, Employee shall receive a grant of 1,000,000
shares of Company restricted common stock (the "RSUs") as compensation for work performed in 2025 and 2026. The 1,000,000
RSUs will start vesting on April 1, 2025, in quarterly increments over the following year as follows: 250,000 will vest on July 1, 2025;
250,000 will vest on October 1, 2025; 250,000 will vest on January 1, 2026, and 250,000 will vest on April 1, 2026.

 The
Boon Agreement is filed as Exhibit 10.46.

 Danielle
De Rosa Employment Agreement

 On
April 22, 2024, the Company entered into an employment agreement with Danielle De Rosa (the "De Rosa Employment Agreement"),
pursuant to which Ms. Rosa will serve as the Company's Chief Financial Officer. As consideration for her services, the Company
will pay Ms. Rosa a salary of $250,000 per annum, which salary is payable bi-monthly. Subject to suitable business conditions, Ms. Rosa
may receive a 5% pay increase payable to her at each one-year anniversary from the commencement of the De Rosa Employment Agreement.
The Company will also award 200,000 stock options to Ms. Rosa, granted at a strike price equal to the closing market price on the date
that Ms. De Rosa first starts to work for the Company as an independent consultant. These stock options will vest on a quarterly basis,
in equal installments over three years. The stock options will terminate on the fifth year anniversary of their date of issuance.

 The
De Rosa Employment Agreement is filed as Exhibit 10.47.

 Intellectual
Property

 As
of the date hereof, the Company owns five patents, including the patent (US 9,186,350 B2) and patent (US 10,028,991 B2) for the composition
of the Sure Shot Dietary Supplement used for minimizing the harmful effects associated with alcohol consumption by supporting the metabolism
of alcohol. US 9,186,350 B2 (the "350 Patent"), relates to an early version of the Sure Shot Dietary Supplement and is owned
by the Company. The 350 Patent is a utility patent that covers the United States jurisdiction and expired on December 25, 2023. US 10,028,991
B2 (the "991 Patent") is a continuation of the 350 Patent and relates to the Sure Shot Dietary Supplement and is owned by
the Company. The 991 Patent is a utility patent that covers the United States jurisdiction and expires on November 5, 2035. In and around
September of 2024, the Company received a Notice of Allowance for a new patent U.S. Patent Application No. 18/395,565 that relates to
current version of the Sure Shot Dietary Supplement. On December 3, 2024, U.S. Patent No. 12,156,878 (formerly U.S. Patent Application
No. 18/395,656) was granted. This patent is a utility patent and covers the United States jurisdiction. The Company owns three additional
patents that relate to legacy products that the Company neither currently sells nor has any plans to sell in the future.

 Government
Regulation

 The
Sure Shot Dietary Supplement:

 The
production, distribution and sale in the United States of the Sure Shot Dietary Supplement is subject to various U.S. federal, state
and local regulations, including but not limited to: the Federal Food, Drug and Cosmetic Act ("FD&C Act"); the Occupational
Safety and Health Act and various state laws and regulations governing workplace health and safety; various environmental statutes; the
Safe Drinking Water and Toxic Enforcement Act of 1986 ("California Proposition 65"); data privacy and personal data protection
laws and regulations, including the California Consumer Privacy Act of 2018 (as modified by the California Privacy Rights Act) and a
number of other federal, state and local statutes and regulations applicable to the production, transportation, sale, safety, advertising,
marketing, labeling, packaging, and ingredients of the Sure Shot Dietary Supplement.

 We
also may in the future be affected by other existing, proposed and potential future regulations or regulatory actions, including those
described below, any of which could adversely affect our business, financial condition and results of operations.

 Furthermore,
legislation and regulation may be introduced in the United States at the federal, state, municipal and supranational level in respect
of each of the subject areas discussed below. Public health officials and health advocates are increasingly focused on the public health
consequences associated with obesity and alcohol consumption, especially as they may affect children, and are seeking legislative change
to reduce the consumption of sweetened and alcohol beverages.

 We
are subject to a number of regulations applicable to the formulation, labeling, packaging, and advertising (including promotional campaigns)
of our products. In California, we are subject to California Proposition 65, a law which requires that a specified warning be provided
before exposing California consumers to any product that contains in excess of threshold amounts of a substance listed by California
as having been found to cause cancer or reproductive toxicity. California Proposition 65 does not require a warning if the manufacturer
of a product can demonstrate that the use of the product in question exposes consumers to an average daily quantity of a listed substance
that is below that threshold amount, which is determined either by scientific criteria set forth in applicable regulations or via a "safe
harbor" threshold that may be established by the state, or the substance is naturally occurring, or is subject to another applicable
exception. As of the date of this registration statement, we are not required to put a warning label on our product and our products
are perfluoroalkyl and polyfluoroalkyl substances ("PFAS") free. We are unable to predict whether a component found in our
product might be added to the California list in the future. Furthermore, we are also unable to predict when or whether the increasing
sensitivity of detection methodology may become applicable under this law and related regulations as they currently exist, or as they
may be amended. If we are required to add warning labels to any of our products or place warnings in certain locations where our products
are sold, it will be difficult to predict whether, or to what extent, such a warning would have an adverse impact on sales of our products
in those locations or elsewhere. In addition, there has been increasing regulatory activity globally regarding constituents in packaging
materials, including PFAS. Regardless of whether perceived health consequences of these constituents are justified, such regulatory activity
could result in additional government regulations that impact the packaging of our beverages.

 In
addition, the U.S. Food and Drug Administration (the "FDA") has regulations with respect to serving size information and
nutrition labeling on food and beverage products, including a requirement to disclose the amount of added sugars in such products and
regulations about whether a product qualifies as a drug. Further, the U.S. Department of Agriculture promulgated regulations requiring
that, by January 1, 2022, the labels of certain bioengineered foods include a disclosure that the food is bioengineered. These regulations
may impact, reduce and/or otherwise affect the purchase and consumption of our products by consumers.

 All
ingredients in the Sure Shot Dietary Supplement are deemed Generally Recognized as Safe (GRAS) and align with FDA standards, permitting
their inclusion in supplements. In the event that the FDA or any governmental agency identifies an ingredient or aspect of our product
as unsafe, we commit to promptly withdrawing that component in accordance with regulatory directives. From a product and sales perspective,
there are no impediments or concerns raised by any governmental agency. It is essential to note that the Sure Shot Dietary Supplement
is classified as a dietary supplement, exempt from the approval or filing requirements mandated for pharmaceutical drugs by the FDA or
other regulatory authorities.

 Employees

 As
of this prospectus, we had eight full-time employees. We believe our relations with our employees to be good.

 Properties

 Currently,
we do not own any real property. We rent office space at 1061 E. Indiantown Rd., Ste. 110, Jupiter, FL 33477 for $15,038 per month. The
Company entered into the office lease effective July 1, 2021, which has a primary term of the lease of five years with one renewal option
for an additional three years. As part of the Separation Agreement, Caring Brands, Inc. has agreed to assume to lease obligations upon
it reaching certain milestones.

 ITEM
1A. RISK FACTORS

 Risks
Related to Our Business

 If
we are unable to keep up with rapid technological changes, our products may become obsolete.

 The
market for our products is characterized by significant and rapid change. Although we will continue to expand our product line capabilities
to remain competitive, research and discoveries by others may make our processes, products, or brands less attractive or even obsolete.

 Competition
could adversely affect our business.

 Our
industry in general is competitive. It is possible that future competitors could enter our market, thereby causing us to lose market
share and revenues. In addition, some of our current or future competitors may have significantly greater financial, technical, marketing,
and other resources than we do or may have more experience or advantages in the markets in which we will compete that will allow them
to offer lower prices or higher quality products. If we do not successfully compete with these competitors, we could fail to develop
market share and our future business prospects could be adversely affected.

 If
we are unable to develop and maintain our brand and reputation for our product offerings, our business and prospects could be materially
 harmed.

 Our
business and prospects depend, in part, on developing and then maintaining and strengthening our brand and reputation in the markets
we serve. If problems with our products cause our customers to have a negative experience or failure or delay in the delivery of our
products to our customers, our brand and reputation could be diminished. If we fail to develop, promote and maintain our brand and reputation
successfully, our business and prospects could be materially harmed.

 We
are subject to government regulation, and unfavorable changes could substantially harm our business and results of operations.

 We
are subject to general business regulations and laws as well as regulations and laws specifically governing our industries in the U.S.
and other countries in which we operate. Uncertainty surrounding existing and future laws and regulations may impede our services and
increase the cost of providing such services. These regulations and laws may cover taxation, tariffs, user pricing, distribution, consumer
protection and the characteristics and quality of services.

 We
depend heavily on key personnel, and turnover of key senior management could harm our business.

 Our
future business and results of operations depend in significant part upon the continued contributions of our senior management personnel.
If we lose their services or if they fail to perform in their current positions, or if we are not able to attract and retain skilled
personnel as needed, our business could suffer. Significant turnover in our senior management could significantly deplete our institutional
knowledge held by our existing senior management team. We depend on the skills and abilities of these key personnel in managing the product
acquisition, marketing and sales aspects of our business, any part of which could be harmed by turnover in the future. We may not have
written employment agreements with all of our senior management. We do not have any key person insurance.

 Our
products may not meet health and safety standards or could become contaminated.

 We
do not have control over all of the third parties involved in the manufacturing of our products and their compliance with government
health and safety standards. Even if our products meet these standards, they could otherwise become contaminated. A failure to meet these
standards or contamination could occur in our operations or those of our manufacturers, distributors or suppliers. This could result
in expensive production interruptions, recalls and liability claims. Moreover, negative publicity could be generated from false, unfounded
or nominal liability claims or limited recalls. Any of these failures or occurrences could negatively affect our business and financial
performance.

 The
sale of our products involves product liability and related risks that could expose us to significant insurance and loss expenses.

 We
face an inherent risk of exposure to product liability claims if the use of our products results in, or is believed to have resulted
in, illness or injury. Our products contain combinations of ingredients, and there is little long-term experience with the effect of
these combinations. In addition, interactions of these products with other products, prescription medicines and over-the-counter treatments
have not been fully explored or understood and may have unintended consequences.

 Any
product liability claim may increase our costs and adversely affect our revenue and operating income. Moreover, liability claims arising
from a serious adverse event may increase our costs through higher insurance premiums and deductibles and may make it more difficult
to secure adequate insurance coverage in the future. In addition, our product liability insurance may fail to cover future product liability
claims, which, if adversely determined, could subject us to substantial monetary damages.

 The
success of our business will depend upon our ability to create and expand our brand awareness.

 The
markets we compete in, including the wellness drink market, sexual wellness and hair growth markets we intend to compete in, are highly
competitive, with many well-known brands leading the industry. Our ability to compete effectively and generate revenue will be based
upon our ability to create and expand awareness of our products distinct from those of our competitors. It is imperative that we are
able to convey to consumers the benefits of our products. However, advertising and packaging and labeling of such products will be limited
by various regulations. Our success will be dependent upon our ability to convey to consumers that our products are superior to those
of our competitors.

 We
must develop and introduce new products to succeed.

 Our
industry is subject to rapid change. New products are constantly introduced to the market. Our ability to remain competitive depends
in part on our ability to enhance existing products, to develop and manufacture new products in a timely and cost-effective manner, to
accurately predict market transitions, and to effectively market our products. Our future financial results will depend to a great extent
on the successful introduction of several new products. We cannot be certain that we will be successful in selecting, developing, manufacturing
and marketing new products or in enhancing existing products.

 The
 success of new product introductions depends on various factors, including, without limitation,
 the following: Successful sales and marketing efforts;

 Timely delivery of new products;

 Availability of raw materials;

 Pricing of raw materials;

 Regulatory allowance of the products; and

 Customer acceptance of new products.

 Adverse
publicity associated with our products or ingredients, or those of similar companies, could adversely affect our sales and revenue.

 Adverse
publicity concerning any actual or purported failure by us to comply with applicable laws and regulations regarding any aspect of our
business could have an adverse effect on the public perception of us. This, in turn, could negatively affect our ability to obtain financing,
endorsers and attract distributors or retailers for our products, which would have a material adverse effect on our ability to generate
sales and revenue.

 Our
distributors' and customers' perception of the safety and quality of our products or even similar products distributed by
others can be significantly influenced by national media attention, publicized scientific research or findings, product liability claims
and other publicity concerning our products or similar products distributed by others. Adverse publicity, whether or not accurate, that
associates consumption of our products or any similar products with illness or other adverse effects, will likely diminish the public's
perception of our products. Claims that any products are ineffective, inappropriately labeled or have inaccurate instructions as to their
use, could have a material adverse effect on the market demand for our products, including reducing our sales and revenue.

 If
serious adverse or undesirable side effects are identified during the development of our product candidates, we may abandon or limit
our development or commercialization of such product candidates.

 If
our product candidates are associated with undesirable side effects or have unexpected characteristics, we may need to abandon their
development or limit development to certain uses or subpopulations in which the undesirable side effects or other characteristics are
less prevalent, less severe or more acceptable from a risk-benefit perspective.

 If
we elect or are forced to suspend or terminate any clinical trial with one of our product candidates, the commercial prospects of such
product candidate will be harmed, and our ability to generate revenue from such product candidate will be delayed or eliminated. Any
of these occurrences may harm our business, financial condition and prospects significantly.

 If
we experience delays or difficulties in the enrollment of subjects to our clinical trials, our ability to complete such trials will be
adversely affected

 Identifying,
screening and enrolling patients to participate in clinical trials of our product candidates is critical to our success, and we may not
be able to identify, recruit, enroll and dose a sufficient number of patients with the required or desired characteristics to complete
our clinical trials in a timely manner. The timing of our clinical trials depends on our ability to recruit patients to participate as
well as to subsequently dose these patients and complete required follow-up periods. In particular, because our planned clinical trials
may be focused on indications with relatively small patient populations, our ability to enroll eligible patients may be limited or may
result in slower enrollment than we anticipate.

 In
addition, we may experience enrollment delays related to increased or unforeseen legal and logistical requirements at certain clinical
trial sites. These delays could be caused by reviews by contractual discussions with individual clinical trial sites. Any delays in enrolling
and/or dosing patients in our planned clinical trials could result in increased costs, delays in advancing our product candidates, delays
in testing the effectiveness of our product candidates or in termination of the clinical trials altogether.

 Participant
enrollment may also be affected by other factors, including:

 coordination
 with clinical research organizations to enroll and administer the clinical trials;

 coordination
 and recruitment of collaborators and investigators at individual sites;

 size
 of the participant population and process for identifying participants;

 design
 of the clinical trial protocol;

 eligibility
 and exclusion criteria;

 perceived
 risks and benefits of the product candidates under study;

 time
 of year in which the trials are initiated or conducted;

 ability
 to obtain and maintain subject consents;

 ability
 to enroll participants in a timely manner;

 risk
 that enrolled subjects will drop out before completion of the trials;

 proximity
 and availability of clinical trial sites for prospective participants;

 ability
 to monitor subjects adequately during and after treatment.

 It
is uncertain whether product liability insurance will be adequate to address product liability claims, or that insurance against such
claims will be affordable or available on acceptable terms in the future.

 Clinical
research involves the testing of products on human volunteers pursuant to a clinical trial protocol. Such testing involves a risk of
liability for personal injury to or death of patients due to, among other causes, adverse side effects, improper administration of the
new product, or improper volunteer behavior. Claims may arise from patients, clinical trial volunteers, consumers, physicians, hospitals,
companies, institutions, researchers, or others using, selling, or buying our products, as well as from governmental bodies. In addition,
product liability and related risks are likely to increase over time, in particular upon the commercialization or marketing of any products
by us or parties with which we enter into development, marketing, or distribution collaborations. Although we are contracting for general
liability insurance in connection with our ongoing business, there can be no assurance that the amount and scope of such insurance coverage
will be appropriate and sufficient in the event any claims arise, that we will be able to secure additional coverage should we attempt
to do so, or that our insurers would not contest or refuse any attempt by us to collect on such insurance policies. Furthermore, there
can be no assurance that suitable product liability insurance (at the clinical stage and/or commercial stage) will continue to be available
on terms acceptable to us or at all, or that, if obtained, the insurance coverage will be appropriate and sufficient to cover any potential
claims or liabilities.

 If
we are unable to establish relationships with licensees or collaborators to carry out sales, marketing, and distribution functions or
to create effective marketing, sales, and distribution capabilities, we will be unable to market our products successfully.

 Our
business strategy may include out-licensing product candidates to or collaborating with larger firms with experience in marketing and
selling pharmaceutical products. There can be no assurance that we will successfully be able to establish marketing, sales, or distribution
relationships with any third-party, that such relationships, if established, will be successful, or that we will be successful in gaining
market acceptance for any products we might develop. To the extent that we enter into any marketing, sales, or distribution arrangements
with third parties, our product revenues per unit sold are expected to be lower than if we marketed, sold, and distributed our products
directly, and any revenues we receive will depend upon the efforts of such third parties.

 If
we are unable to establish such third-party marketing and sales relationships, or choose not to do so, we would have to establish in-house
marketing and sales capabilities. To market any products directly, we would have to establish a marketing, sales, and distribution force
that has technical expertise and could support a distribution capability. Competition in the dietary supplement industry for technically
proficient marketing, sales, and distribution personnel is intense and attracting and retaining such personnel may significantly increase
our costs.

 There
can be no assurance that we will be able to establish internal marketing, sales, or distribution capabilities or that these capabilities
will be sufficient to meet our needs.

 Natural
disasters and other events beyond our control could materially adversely affect us.

 Natural
disasters or other catastrophic events may cause damage or disruption to our operations, international commerce and the global economy,
and thus could have a strong negative effect on us. Our business operations are subject to interruption by natural disasters, fire, power
shortages, pandemics and other events beyond our control. Such events could make it difficult or impossible for us to deliver our services
to our customers and could decrease demand for our services.

 We
have a limited operating history upon which investors can evaluate our future prospects.

 We
have a limited operating history upon which an evaluation of its business plan or performance and prospects can be made. The business
and prospects of the Company must be considered in the light of the potential problems, delays, uncertainties and complications encountered
in connection with a newly established business and new industry. The risks include, but are not limited to, the possibility that we
will not be able to develop functional and scalable products and services, or that although functional and scalable, our products and
services will not be economical to market; that our competitors hold proprietary rights that preclude us from marketing such products;
that our competitors market a superior or equivalent product; that we are not able to upgrade and enhance our technologies and products
to accommodate new features and expanded service offerings; or the failure to receive necessary regulatory clearances for our products.
To successfully introduce and market our products at a profit, we must establish brand name recognition and competitive advantages for
our products. There are no assurances that we can successfully address these challenges. If it is unsuccessful, we and our business,
financial condition and operating results could be materially and adversely affected.

 The
current and future expense levels are based largely on estimates of planned operations and future revenues rather than experience. It
is difficult to accurately forecast future revenues because our business is new and our market has not been developed. If our forecasts
prove incorrect, the business, operating results and financial condition of the Company may be materially and adversely affected. Moreover,
we may be unable to adjust our spending in a timely manner to compensate for any unanticipated reduction in revenues. As a result, any
significant reduction in revenues may immediately and adversely affect our business, financial condition and operating results.

 Our
products and manufacturing activities are subject to extensive government regulation, and failure to comply with these laws and regulations,
as they currently exist or as modified in the future, may increase our costs, limit or eliminate our ability to sell certain products,
subject us or our suppliers to the risk of enforcement action, or otherwise adversely affect our business, results of operations and
financial condition.

 The
manufacture, packaging, labeling, advertising, promotion, distribution, import, export and sale of our products are subject to regulation
by numerous national and local governmental agencies in the United States and other countries, including but not limited to the U.S.
Food and Drug Administration (FDA) and the Federal Trade Commission (FTC). Failure to comply with FDA regulatory requirements may result
in, among other things, injunctions, product withdrawals, recalls, product seizures, fines, and criminal prosecutions. Any action of
this type by the FDA could materially adversely affect our ability to market our products successfully.

 The
manufacture of nutritional or dietary supplements and related products in the United States requires compliance with dietary supplement
current Good Manufacturing Practice (GMP) regulations, which are based on the food-model GMP regulations, with additional requirements
that are specific to dietary supplements. We believe the manufacturing processes for the Safety Shot Dietary Supplement substantially
complies with the applicable dietary supplement GMP requirements. Nevertheless, any FDA action determining that such processes do not
comply with dietary supplement GMPs could materially adversely affect our ability to manufacture and market the Sure Shot Dietary Supplement
in the United States. In addition, the Dietary Supplement & Nonprescription Drug Consumer Protection Act requires dietary supplement
manufacturers and distributors to notify the FDA when they receive reports of serious adverse events associated with their products that
occur within the United States.

 Individual
U.S. states also regulate nutritional supplements. A state may seek to interpret claims or products presumptively valid under federal
law as illegal under that state's regulations, or otherwise seek to create restrictions to access under state law. For example,
during the 204 legislative session, several states are considering bills that would restrict the sale of muscle building and/or weight
management supplements to people over the age of 18. Government agencies, as well as legislative bodies, can change existing regulations,
or impose new ones, or could take aggressive measures, causing or contributing to a variety of negative consequences, including:

 requirements
 for the reformulation of products to meet new standards;

 the
 recall or discontinuance of products;

 additional
 record-keeping requirements;

 expanded
 documentation of the properties of certain or all products;

 expanded
 or different labeling or advertising for products;

 expanded
 adverse event tracking and reporting requirements; and

 additional
 scientific substantiation to support product claims.

 We
cannot predict the nature of any future laws, regulations, interpretations, or applications, nor can we determine what effect additional
governmental regulations or administrative orders, when and if promulgated, could have on our business, financial condition, or results
of operations.

 We
are subject to government regulations of the processing, formulation, packaging, labeling and advertising of our wellness and dietary
supplement products.

 Under
the Federal Food, Drug, and Cosmetic Act (the FD&C Act), companies that manufacture and distribute functional foods and dietary supplements,
such as our Safety Shot Dietary Supplement, are limited in the claims that they are permitted to make about nutritional support on the
product label without FDA approval. Any failure by us to adhere to the labeling requirements could lead to the FDA requiring that our
products be repackaged and relabeled, which would have a material adverse effect on our business. In addition, companies are responsible
for the accuracy and truthfulness of, and must have adequate scientific substantiation for, any nutritional or functional claims. These
claims must be truthful and not misleading. Promotional claims about foods and dietary supplements also must not include statements that
the product can diagnose, mitigate, treat, cure or prevent a specific disease or class of disease.

 We
believe we are able to market our Sure Shot Dietary Supplement product in reliance on the self-affirmed Generally Recognized As Safe
(GRAS) status of our formulation's current ingredients. No governmental agency or other third party has made a determination as
to whether or not the Sure Shot Dietary Supplement has achieved GRAS status. We make this determination based on independent scientific
opinions that the individual ingredients and formulation as a whole are not harmful under their intended conditions of use. If the FDA,
another regulatory authority or other third party denied our self-affirmed GRAS status for the Sure Shot Dietary Supplement, we could
face significant penalties or be required to undergo the regulatory approval process in order to market our product, and our business,
financial condition and results of operations will be adversely affected. We cannot guarantee that in such a situation the Sure Shot
Dietary Supplement would be approved.

 The
processing, formulation, packaging, labeling and advertising of our products may also be subject to regulation by the FTC, the Environmental
Protection Agency (EPA), and various agencies of the states and localities in which the products are sold. Any changes in the current
regulatory environment could impose requirements that would limit our ability to market our supplement products and make bringing new
products to market more expensive. In addition, the adoption of new regulations or changes in the interpretation of existing regulations
may result in significant compliance costs or discontinuation of product sales and may adversely affect our business, financial condition
and results of operations.

 While
we have positioned the Sure Shot Dietary Supplement as a dietary supplement, it is possible that the FDA or a state regulatory agency
could classify our product as a drug. If the Sure Shot Dietary Supplement is determined to be a drug, we would not be able to market
it further without making significant changes to the product and labeling or going through the drug approval process, which would limit
our ability to effectively market the product and would adversely affect our financial condition and results of operations. Additional
clinical trials may be necessary in order to support any new drug approval for the Sure Shot Dietary Supplement, and clinical trials
designed to support drug approval may be time consuming, expensive, and uncertain. If required, such additional studies may take years
to complete, and we may never generate the necessary data or results required to obtain marketing authorization of Safety Shot Dietary
Supplement as an over-the-counter drug product. Accordingly, there can be no assurances that any such drug approval, if required, could
be obtained for the Sure Shot Dietary Supplement. If the FDA or a state regulatory agency ultimately determines the Sure Shot Dietary
Supplement is a drug rather than a dietary supplement, the agency could claim that the product is misbranded and require that we recall,
repackage and relabel the product and impose civil and/or criminal penalties. Any of these situations could adversely affect our business
and operations, and any public actions taken by the FDA or other regulatory agency against us could lead to consumer complaints, civil
lawsuits, retail customers terminating any supply agreements we may have with them, and significant reputational harms to the company.

 Our
failure to comply with applicable laws or regulations could result in substantial monetary penalties and could adversely affect our operating
results.

 In
recent years, the marketing and labeling of functional foods and beverages and dietary supplements has brought increased risk that consumers
will bring class action lawsuits and that the FTC and/or state attorneys general will bring legal action concerning the truth and accuracy
of the marketing and labeling of such products, seek removal of such products from the marketplace, and/or impose fines and penalties.
Our Sure Shot Dietary Supplement product is marketed with express and implied statements relating to the ingredients or health and wellness
related attributes, which may increase the potential risk of regulatory scrutiny over such claims. The lack of specific regulations or
guidance on common supplement terms and statements used in product labeling has contributed to legal challenges against many supplement
companies, and plaintiffs have commenced legal actions against several nutritional supplement companies, asserting false, misleading
and deceptive advertising and labeling claims. In addition, the FTC has instituted numerous enforcement actions against dietary supplement
companies for failure to have adequate substantiation for claims made in advertising or for the use of false or misleading advertising
claims. Our failure to comply with applicable regulations could result insubstantial monetary penalties, which would likely have a material
adverse effect on our financial condition or results of operations.

 Even
when unmerited, class action lawsuits, action by the FTC or state attorneys general enforcement actions can be expensive to defend against
and may adversely affect our reputation with existing and potential customers and consumers and our corporate and brand image, which
would likely have a material and adverse effect on our business, financial condition or results of operations. The number of private
consumer class actions relating to false or deceptive advertising against nutritional supplement companies has increased in recent years.

 In
addition, the FDA has aggressively enforced its regulations with respect to different types of product claims that may or may not be
made for food or dietary supplement products. These events could interrupt the marketing and sales of our Sure Shot Dietary Supplement
product, severely damage our brand reputation and public image, increase our legal expenses, result in product recalls or litigation,
and impede our ability to deliver our products in sufficient quantities or quality, which would likely result in a material adverse effect
on our business, financial condition, results of operations and cash flows.

 Congress
and/or regulatory agencies may impose additional laws or regulations or change current laws or regulations, and state attorneys general
may increase enforcement of existing or new laws, and compliance with new or changed governmental regulations, or any state attorney
proceeding, could increase our costs significantly and materially and adversely affect our business, financial condition and results
of operations.

 From
time to time, Congress, the FDA, the FTC, or other federal, state, local or foreign legislative and regulatory authorities may impose
additional laws or regulations that apply to us, repeal laws or regulations that we consider favorable to us or impose more stringent
interpretations of current laws or regulations. We are not able to predict the nature of such future laws, regulations, repeals or interpretations
or to predict the effect that additional governmental regulation, when and if it occurs, would have on our business in the future. Those
developments could require reformulation of certain products to meet new standards, recalls or discontinuance of certain products not
able to be reformulated, additional record-keeping requirements, increased documentation of the properties of certain products, additional
or different labeling, additional scientific substantiation, adverse event reporting or other new requirements.

 For
example, in recent years, the FDA has issued warning letters to several dietary supplement companies alleging improper and unapproved
drug claims regarding their products marketed for use as hangover cures or to prevent hangovers. If the FDA determines that we have disseminated
inappropriate and unapproved drug claims for our Safety Shot Dietary Supplement, which we are positioning as a dietary supplement, we
could receive a warning or untitled letter, be required to modify our product claims or take other actions to satisfy the FDA. Such a
public warning or untitled letter from the FDA could harm our reputation and could lead to potential customer or consumer complaints
or even civil lawsuits and other financial damages. While we would intend to vigorously defend our company and the Safety Shot product
line in such a situation, any developments of this nature could increase our costs significantly and would likely have a material adverse
effect on our business, financial condition and results of operations.

 Our
reliance on third parties to manufacture and supply our products, including the Sure Shot Dietary Supplement, may harm our business,
financial condition and operating results.

 We
contract with third-party suppliers and manufacturers for the production of our products, including the Sure Shot Dietary Supplement.
These third-party suppliers and manufacturers produce and, in most cases, pack our products according to formulations and specifications
that have been developed by or in conjunction with our in-house product development team. Products manufactured by third-party suppliers
at their facilities must also pass through quality control and assurance procedures to ensure they are manufactured in conformance with
our specifications. We cannot assure you that our third-party contract manufacturers will continue to reliably supply products to us
at the levels of quality, or the quantities, we require, and in compliance with our specifications or applicable laws, including under
the FDA's dietary supplement GMP regulations and the FD&C Act's food safety provisions. Should our contract manufacturers
experience quality issues or supply us with non-conforming products, we may need to terminate relationships or secure alternative suppliers.
Identifying and obtaining acceptable replacement manufacturing sources, on a timely basis or at all, for FDA-regulated functional beverages
and dietary supplement products is challenging. Additionally, any future need to transfer our third-party manufacturing business to another
contract manufacturer could be expensive, time-consuming, result in delays in our production or shipping, reduce our net sales, damage
our relationship with customers and damage our reputation in the marketplace.

 We
rely on third parties to conduct clinical trials and most nonclinical studies of our products, including the Sure Shot Dietary Supplement.
If these third parties do not perform as contractually required, fail to satisfy regulatory or legal requirements or miss expected deadlines,
our product development and commercialization efforts could be delayed with material and adverse effects on our business, financial condition,
results of operations and prospects.

 While
we recently completed a clinical trial for the Safety Shot Dietary Supplement and may sponsor clinical trials in the future for the Sure
Shot Dietary Supplement or other products, we do not independently conduct clinical trials or the majority of nonclinical studies involving
our products or product candidates. Accordingly, while we perform certain functions internally, we currently rely on third-party contract
research organizations (CROs), such as the Center for Applied Health Sciences, as well as laboratories, clinical investigators, clinical
data management organizations, and consultants, to help us design, conduct, supervise and monitor research involving our products and
human participants. As a result, we have less control over the timing, quality and other aspects of our clinical trials than we would
have had we conducted them on our own. There is a limited number of third-party service providers that specialize in the wellness space
or have the expertise required to achieve our business objectives. If any of our relationships with these third-party CROs terminate,
we may not be able to enter into arrangements with alternative CROs or investigators or to do so on commercially reasonable terms. Further,
these laboratories, investigators, CROs and consultants are not our employees and we have limited control over the amount of time and
resources that they dedicate to our product development programs. These third parties may have contractual relationships with other entities,
some of which may be our competitors, which may draw time and resources from our programs. The third parties with which we contract might
not be diligent, careful or timely in conducting our nonclinical studies or clinical trials. If we cannot contract with acceptable third
parties on commercially reasonable terms, or at all, or if these third parties do not carry out their contractual duties, satisfy the
legal and regulatory requirements for the conduct of nonclinical studies or clinical trials or meet expected deadlines for any reason,
our product development efforts could be delayed and otherwise adversely affected.

 In
all events, we are responsible for ensuring that each of our nonclinical studies and clinical trials is conducted in accordance with
the general investigational plan and protocols for the relevant study or trial. For example, the FDA requires certain nonclinical studies
to be conducted in accordance with good laboratory practices and clinical trials to be conducted in accordance with good clinical practices,
including practices and requirements for designing, conducting, recording and reporting the results of nonclinical studies and clinical
trials to assure that data and reported results are credible and accurate and that the rights, integrity and confidentiality of clinical
trial participants are protected. Our reliance on third parties we do not control do not relieve us of these responsibilities and requirements.
Any adverse development or delay in our nonclinical studies or clinical trials could have a material and adverse effect on our business,
financial condition, results of operations and prospects.

 Further,
should the FDA determine that the Sure Shot Dietary Supplement is a drug rather than a dietary supplement and require us to secure new
drug approval or another form of marketing authorization for the Sure Shot Dietary Supplement, there can be no assurance that the nonclinical
and clinical data we have generated to date would be sufficient to meet applicable regulatory standards for demonstrating substantial
evidence of effectiveness. "Substantial evidence" represents the evidentiary threshold in the FD&C Act for the efficacy
of new drugs, and it requires at least one adequate and well-controlled clinical investigation to establish effectiveness. Because we
have positioned the Sure Shot Dietary Supplement as a dietary supplement, our recently completed clinical trial may not meet FDA's
expectations for a well-controlled clinical investigation adequate to support a potential drug approval.

 We
may not meet our product development and commercialization milestones.

 We
have established milestones, based upon our expectations regarding our technologies at that time, which we use to assess our progress
toward developing our products. These milestones relate to technology and design improvements as well as dates for achieving development
goals. If our products exhibit technical defects or are unable to meet cost or performance goals, our commercialization schedule could
be delayed, and potential purchasers of our initial commercial products may decline to purchase such products or may opt to pursue alternative
products.

 We
may also experience shortages of equipment due to manufacturing difficulties. Multiple suppliers provide the components used in manufacturing
our products. Our manufacturing operations could be disrupted by fire, earthquake or other natural disaster, a labor-related disruption,
failure in supply or other logistical channels, electrical outages or other reasons. If there were a disruption to manufacturing facilities,
we would be unable to manufacture until we have restored and re-qualified our manufacturing capability or developed alternative manufacturing
facilities.

 Our
operations in international markets involve inherent risks that we may not be able to control.

 Our
business plan includes the marketing and sale of our proposed products in international markets. Accordingly, our results could be materially
and adversely affected by a variety of uncontrollable and changing factors relating to international business operations, including:

 Macroeconomic
 conditions adversely affecting geographies where we intend to do business;

 Foreign
 currency exchange rates;

 Political
 or social unrest or economic instability in a specific country or region;

 Higher
 costs of doing business in foreign countries;

 Infringement
 claims on foreign patents, copyrights or trademark rights;

 Difficulties
 in staffing and managing operations across disparate geographic areas;

 Difficulties
 associated with enforcing agreements and intellectual property rights through foreign legal
 systems;

 Trade
 protection measures and other regulatory requirements, which affect our ability to import
 or export our products from or to various countries;

 Adverse
 tax consequences;

 Unexpected
 changes in legal and regulatory requirements;

 Military
 conflict, terrorist activities, natural disasters and medical epidemics; and

 Our
 ability to recruit and retain channel partners in foreign jurisdictions.

 Compliance
with new and existing laws and governmental regulations could increase our costs significantly and adversely affect our results of operations.

 The
processing, formulation, safety, manufacturing, packaging, labeling, advertising and distribution of our products are subject to federal
laws and regulation by one or more federal agencies, including the FDA, the FTC, the CPSC, the USDA, and the EPA. These activities are
also regulated by various state, local and international laws and agencies of the states and localities in which our products are sold.
Government regulations may prevent or delay the introduction, or require the reformulation, of our products, which could result in lost
revenues and increased costs to us. For instance, the FDA regulates, among other things, the composition, safety, manufacture, labeling
and marketing of dietary ingredients and dietary supplements (including vitamins, minerals, herbs, and other dietary ingredients for
human use). Dietary supplements and dietary ingredients that do not comply with FDA's regulations and/or the DSHEA will be deemed
adulterated or misbranded. Manufacturers and distributors of dietary supplements and dietary ingredients are prohibited from marketing
products that are adulterated or misbranded, and the FDA may take enforcement action against any adulterated or misbranded dietary supplement
on the market. The FDA has broad enforcement powers. If we violate applicable regulatory requirements, the FDA may bring enforcement
actions against us, which could have a material adverse effect on our business, prospects, financial condition, and results of operations.
The FDA may not accept the evidence of safety for any new dietary ingredient that we may wish to market, may determine that a particular
dietary supplement or ingredient presents an unacceptable health risk based on the required submission of serious adverse events or other
information, and may determine that a particular claim(such as reducing Blood Alcohol Content) or statement of nutritional value that
we use to support the marketing of a dietary supplement is an impermissible drug claim or is not substantiated. Any of these actions
could prevent us from marketing particular dietary supplement products or making certain claims or statements with respect to those products.
The FDA could also require us to remove a particular product from the market. Any future recall or removal would result in additional
costs to us, including lost revenues from any products that we are required to remove from the market, any of which could be material.
Any product recalls or removals could also lead to an increased risk of litigation and liability, substantial costs, and reduced growth
prospects.

 Additional
or more stringent laws and regulations of dietary supplements and other products have been considered from time to time. These developments
could require reformulation of some products to meet new standards, recalls or discontinuance of some products not able to be reformulated,
additional record-keeping requirements, increased documentation of the properties of some products, additional or different labeling,
additional scientific substantiation, or other new requirements. Any of these developments could increase our costs significantly. In
addition, regulators' evolving interpretation of existing laws could have similar effects.

 International
trade disputes, including U.S. trade tariffs and retaliatory tariffs, could adversely impact our business.

 International
trade disputes, including threatened or implemented tariffs by the United States and threatened or implemented tariffs by foreign countries
in retaliation, could adversely impact our business. Many of our tenants sell imported goods and tariffs or other trade restrictions
could increase costs for these tenants. To the extent our tenants are unable to pass these costs on to their customers, our tenants could
be adversely impacted. In addition, international trade disputes, including those related to tariffs, could result in inflationary
pressures that directly impact our costs, such as costs for steel, lumber and other materials applicable to our redevelopment projects.
Trade disputes could also adversely impact global supply chains which could further increase costs for us and our tenants or delay delivery
of key inventories and supplies.

 Significant
political, trade, regulatory developments, and other circumstances beyond our control, could have a material adverse effect on our financial
condition or results of operations.

 Significant
political, trade, or regulatory developments in the jurisdictions in which we sell our products, such as those stemming from the change
in U.S. federal administration, are difficult to predict and may have a material adverse effect on us. Similarly, changes in U.S. federal
policy that affect the geopolitical landscape could give rise to circumstances outside our control that could have negative impacts on
our business operations. For example, during the prior Trump administration, increased tariffs were implemented on goods imported
into the U.S., particularly from China, Canada, and Mexico. On February 1, 2025, the U.S. imposed a 25% tariff on imports from Canada
and Mexico, which were subsequently suspended for a period of one month, and a 10% additional tariff on imports from China. Historically,
tariffs have led to increased trade and political tensions, between not only the U.S. and China, but also between the U.S. and other
countries in the international community. In response to tariffs, other countries have implemented retaliatory tariffs on U.S. goods.
Political tensions as a result of trade policies could reduce trade volume, investment, technological exchange, and other economic activities
between major international economies, resulting in a material adverse effect on global economic conditions and the stability of global
financial markets. Any changes in political, trade, regulatory, and economic conditions, including, but not limited to, U.S. and China
trade policies, could have a material adverse effect on our financial condition or results of operations.

 Regulatory
changes or actions may alter the nature of an investment in us or restrict the use of cryptocurrencies in a manner that adversely affects
our business, prospects, or operations.

 As
cryptocurrencies have grown in both popularity and market size, governments around the world have reacted differently to cryptocurrencies;
certain governments have deemed them illegal, and others have allowed their use and trade without restriction, while some jurisdictions,
such as the United States, subject the mining, ownership and exchange of cryptocurrencies to extensive, and in some cases overlapping,
unclear and evolving regulatory requirements.

 In
January 2025, U.S. President Donald Trump issued an executive order forming a presidential working group to establish a clear regulatory
framework for digital assets, and leaders in both houses of the U.S. Congress have announced a bicameral working group with the objective
of passing legislation to provide regulatory clarity for the industry. Committees in both houses of the U.S. Congress have held hearings
to ensure fair access to financial services, including for companies operating in the digital asset space. Additionally, President Trump and
members of the U.S. Congress announced that they are studying the possibility of creating a national strategic digital asset reserve
to include Bitcoin, and at least twelve states have introduced legislation to create strategic Bitcoin reserves.

 While
these ongoing regulatory developments appear to be positive, and we anticipate greater regulatory certainty in the future, given the
difficulty of predicting the outcomes of ongoing and future regulatory actions and legislative developments, it is possible that future
developments could have a material adverse effect on our business, prospects, or operations.

 Our
business, operations, financial position and timelines, could be materially adversely affected by the continuing military action in Ukraine
and the war between Israel and Hamas.

 As
a result of the military action commenced in February 2022 by the Russian Federation and Belarus in Ukraine and the war between Israel
and Hamas commenced in October 2023, and related economic sanctions imposed or that may in the future be imposed by certain governments,
our financial position and operations may be materially and adversely affected. As our ability to continue to operate will be dependent
on raising debt and equity finance, any adverse impact to those markets as a result of these conflicts, including due to increased market
volatility, decreased availability in third-party financing and/or a deterioration in the terms on which it is available (if at all),
could negatively impact our business, results of operations, cash flows, financial condition, and/or prospects. The extent of any potential
impact is not yet determinable, however.

 Risks
Related to our Financial Position and Capital Needs

 Our
accountant has indicated doubt about our ability to continue as a going concern.

 As
of December 31, 2024, and 2023, the Company had $348,816 and $3,833,349 in cash, accumulated deficit of
$115,090,347 and $65,480,715 and cash flow used in operations of $18,089,748 and
$10,715,314, respectively. The Company has incurred and expects to continue to incur significant costs in pursuit of its expansion
and development plans. These conditions raise doubt about the Company's ability to continue as a going concern and accordingly
our auditors have included a going concern opinion in our annual report.

 In
connection with certain public and private offerings (the "Financing"), the Company offered warrants as part of the
Financing packages. During the year ended December 31, 2024, the Warrant Holders exercised a total of 2,996,127 warrants for shares
of common stock for a total exercise price of $3,962,714 and during the year ended December 31,
2023, the Warrant Holders exercised a total of 10,266,845 warrants for shares of common stock for a total exercise price of
$8,887,837. At December 31, 2024, the Company has 18,803,334
warrants outstanding at an average exercise price of $2.09. The Company expects,
although there can be no assurance, that a majority of the outstanding warrants will be exercised in the near future.

 The
Company also holds 2,623,342 shares of SRM Entertainment, Inc. (Nasdaq: SRM) valued at $0.63 per share (as of December 31, 2024) and
these shares are considered trading shares and are held as marketable securities on the balance sheet. These shares are not covered by
an effective registration statement but may be sold subject to Rule 144.

 At
December 31, 2024, the Company had $348,816 in cash and the Company recognizes that it may need to raise additional capital in order to continue
to execute its business plan in the future. There is no assurance that the Warrant Holders will exercise their warrants or additional
financing will be available if needed or that the Company will be able to obtain financing on terms acceptable to it or whether the Company
will become profitable and generate positive operating cash flow. If the Company is unable to obtain revenue producing contracts or financing
or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may be forced to substantially
curtail its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may
dilute the interests of existing stockholders.

 Raising
additional capital may cause dilution to our existing stockholders, restrict our operations or require us to relinquish rights to our
technologies or other assets.

 We
may seek additional capital through a combination of private and public equity offerings, debt financings, strategic partnerships and
alliances and licensing arrangements. To the extent that we raise additional capital through the sale of equity or convertible debt securities,
existing ownership interests will be diluted and the terms of such financings may include liquidation or other preferences that adversely
affect the rights of existing stockholders. Debt financings may be coupled with an equity component, such as warrants to purchase shares,
which could also result in dilution of our existing stockholders' ownership. The incurrence of indebtedness would result in increased
fixed payment obligations and could also result in certain restrictive covenants, such as limitations on our ability to incur additional
debt, limitations on our ability to acquire or license intellectual property rights and other operating restrictions that could adversely
impact our ability to conduct our business and may result in liens being placed on our assets and intellectual property. If we were to
default on such indebtedness, we could lose such assets and intellectual property.

 Our
potential for rapid growth and our entry into new markets make it difficult for us to evaluate our current and future business prospects,
and we may be unable to effectively manage any growth associated with these new markets, which may increase the risk of your investment
and could harm our business, financial condition, results of operations and cash flow.

 Our
proliferation into new markets may place a significant strain on our resources and increase demands on our executive management, personnel
and systems, and our operational, administrative and financial resources may be inadequate. We may also not be able to effectively manage
any expanded operations or achieve planned growth on a timely or profitable basis, particularly if the number of customers using our
technology significantly increases or their demands and needs change as our business expands. If we are unable to manage expanded operations
effectively, we may experience operating inefficiencies, the quality of our products and services could deteriorate, and our business
and results of operations could be materially adversely affected.

 Changes
in tax laws and unanticipated tax liabilities could adversely affect our effective income tax rate and ability to achieve profitability.

 Our
effective income tax rate in the future could be adversely affected by a number of factors including changes in the mix of earnings in
countries with differing statutory tax rates, changes in the valuation of deferred tax assets and liabilities and changes in tax laws.
We regularly assess all of these matters to determine the adequacy of our tax provision which is subject to discretion. If our assessments
are incorrect, it could have an adverse effect on our business and financial condition. There can be no assurance that income tax laws
and administrative policies with respect to the income tax consequences generally applicable to us or to our subsidiaries will not be
changed in a manner which adversely affects our shareholders.

 Risks
Related to our Intellectual Property

 We
may incur substantial costs as a result of litigation or other proceedings relating to patent and other intellectual property rights.

 A
third party may sue us or one of our strategic collaborators for infringing its intellectual property rights. Likewise, we may need to
resort to litigation to enforce licensed rights or to determine the scope and validity of third-party intellectual property rights.

 The
cost to us of any litigation or other proceeding relating to intellectual property rights, even if resolved in our favor, could be substantial,
and the litigation would divert our efforts. Some of our competitors may be able to sustain the costs of complex patent litigation more
effectively than we can because they have substantially greater resources. If we do not prevail in this type of litigation, we or our
strategic collaborators may be required to pay monetary damages; stop commercial activities relating to the affected products or services;
obtain a license in order to continue manufacturing or marketing the affected products or services; or attempt to compete in the market
with a substantially similar product.

 Uncertainties
resulting from the initiation and continuation of any litigation could limit our ability to continue some of our operations. In addition,
a court may require that we pay expenses or damages, and litigation could disrupt our commercial activities.

 Any
inability to protect our intellectual property rights could reduce the value of our products and brands, which could adversely affect
our financial condition, results of operations and business.

 Our
business is partly dependent upon our trademarks, trade secrets, copyrights and other intellectual property rights. Effective intellectual
property rights protection, however, may not be available under the laws of every country in which we and our sub-licensees may operate.
There is a risk of certain valuable trade secrets, beyond what is described publicly in patents, being exposed to potential infringers.
Regardless of our technology being protected by patents or otherwise, there is a risk that other companies may employ the technology
without authorization and without recompensing us.

 The
efforts we have taken to protect our proprietary rights may not be sufficient or effective. Any significant impairment of our intellectual
property rights could harm our business or our ability to compete. In addition, protecting our intellectual property rights is costly
and time consuming. There is a risk that we may have insufficient resources to counter adequately such infringements through negotiation
or the use of legal remedies. It may not be practicable or cost effective for us to fully protect our intellectual property rights in
some countries or jurisdictions. If we are unable to successfully identify and stop unauthorized use of our intellectual property, we
could lose potential revenue and experience increased operational and enforcement costs, which could adversely affect our financial condition,
results of operations and business.

 The
intellectual property behind our products may include unpublished know-how as well as existing and pending intellectual property protection.
All intellectual property protection eventually expires, and unpublished know-how is dependent on key individuals.

 The
commercialization of our licensed products is partially dependent upon know-how and trade secrets held by certain individuals working
with and for us. Because the expertise runs deep in these few individuals, if something were to happen to any or all of them, the ability
to properly manufacture our products without compromising quality and performance could be diminished greatly.

 Knowledge
published in the form of any future intellectual property has finite protection, as all patents and trademarks have a limited life and
an expiration date. While continuous efforts will be made to apply for patents and trademarks if appropriate, there is no guarantee that
additional patents or trademarks will be granted. The expiration of patents and trademarks relating to our products may hinder our ability
to sub-license or sell our products for a long period of time without the development of a more complex licensing strategy.

 If
we are not able to adequately protect our intellectual property, then we may not be able to compete effectively, and we may not be profitable.

 Our
existing proprietary rights may not afford remedies and protections necessary to prevent infringement, reformulation, theft, misappropriation
and other improper use of our products by competitors. We own the formulations contained in our products and we consider these product
formulations to be our critical proprietary property, which must be protected from competitors. Although trade secret, trademark, copyright
and patent laws generally provide a certain level of protection, and we attempt to protect ourselves through contracts with manufacturers
of our products, we may not be successful in enforcing our rights. In addition, enforcement of our proprietary rights may require lengthy
and expensive litigation. We have attempted to protect some of the trade names and trademarks used for our products by registering them
with the U.S. Patent and Trademark Office, but we must rely on common law trademark rights to protect our unregistered trademarks. Common
law trademark rights do not provide the same remedies as are granted to federally registered trademarks, and the rights of a common law
trademark are limited to the geographic area in which the trademark is actually used. Our inability to protect our intellectual property
could have a material adverse impact on our ability to compete and could make it difficult for us to achieve a profit.

 Risks
Related to Our Securities and Other Risks

 We
are an "emerging growth company" and we cannot be certain if the reduced disclosure requirements applicable to emerging growth
companies will make our common stock less attractive to investors.

 We
are an "emerging growth company" as defined in the JOBS Act, and we intend to take advantage of certain exemptions from various
reporting requirements that are applicable to other public companies that are not "emerging growth companies" including,
but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act and
reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements. We cannot predict whether
investors will find our common stock less attractive if we rely on these exemptions. If some investors find our common stockless attractive
as a result, there may be a less active trading market for our common stock and our stock price may be more volatile.

 The
requirements of being a public company may strain our resources and distract our management, which could make it difficult to manage
our business, particularly after we are no longer an "emerging growth company."

 We
are required to comply with various regulatory and reporting requirements, including those required by the SEC. Complying with these
reporting and other regulatory requirements is time-consuming and results in increased costs to us and could have a negative effect on
our results of operations, financial condition or business. As a public company, we are subject to the reporting requirements of the
Securities Exchange Act of 1934 (as amended, the "Exchange Act") and the requirements of the Sarbanes-Oxley Act. These requirements
may place a strain on our systems and resources.

 The
Exchange Act requires that we file annual, quarterly and current reports with respect to our business and financial condition. The Sarbanes-Oxley
Act requires that we maintain effective disclosure controls and procedures and internal controls over financial reporting. To maintain
and improve the effectiveness of our disclosure controls and procedures, we will need to commit significant resources, hire additional
staff and provide additional management oversight. We will be implementing additional procedures and processes for the purpose of addressing
the standards and requirements applicable to public companies. Sustaining our growth also will require us to commit additional management,
operational and financial resources to identify new professionals to join our firm and to maintain appropriate operational and financial
systems to adequately support expansion. These activities may divert management's attention from other business concerns, which
could have a material adverse effect on our results of operations, financial condition or business.

 As
an "emerging growth company" as defined in the JOBS Act, we intend to take advantage of certain temporary exemptions from
various reporting requirements including, but not limited to, not being required to comply with the auditor attestation requirements
of Section 404 of the Sarbanes-Oxley Act and reduced disclosure obligations regarding executive compensation in our periodic reports
and proxy statements. We may also delay adoption of new or revised accounting pronouncements applicable to public companies until such
pronouncements are made applicable to private companies, as permitted by the JOBS Act.

 We
have broad discretion in the use of the net proceeds from any offerings and may not use them effectively.

 Our
management will have broad discretion in the application of the net proceeds from any offerings and may spend or invest these proceeds
in a way with which our stockholders disagree. The failure by our management to apply these funds effectively could harm our business
and financial condition. Pending their use, we may invest the net proceeds from any offering in a manner that does not produce income
or that loses value.

 Our
management has limited experience in managing the day-to-day operations of a public company and, as a result, we may incur additional
expenses associated with the management of our Company.

 We
only became a public company in October 2020. The management team is responsible for the operations and reporting of the Company. The
requirements of operating as a public company are many and sometimes difficult to navigate. This may require us to obtain outside assistance
from legal, accounting, investor relations, or other professionals that could be more costly than planned. If we lack cash resources
to cover these costs of being a public company in the future, our failure to comply with reporting requirements and other provisions
of securities laws could negatively affect our stock price and adversely affect our potential results of operations, cashflow and financial
condition after we commence operations.

 Compliance
with changing corporate governance regulations and public disclosures may result in additional risks and exposures.

 Changing
laws, regulations and standards relating to corporate governance and public disclosure, including the Sarbanes-Oxley Act of 2002 and
new regulations from the SEC, have created uncertainty for public companies such as ours. These laws, regulations, and standards are
subject to varying interpretations in many cases, and as a result, their application in practice may evolve over time as new guidance
is provided by regulatory and governing bodies. This could result in continuing uncertainty regarding compliance matters and higher costs
necessitated by ongoing revisions to disclosure and governance practices. As a result, our efforts to comply with evolving laws, regulations,
and standards have resulted in, and are likely to continue to result in, increased expense and significant management time and attention.

 Certain
of our stockholders hold a significant percentage of our outstanding voting securities, which could reduce the ability of minority stockholders
to effect certain corporate actions.

 At
March 25, 2025, our officers and directors are the beneficial owners of approximately 14.7% our issued and outstanding voting securities.
As a result, they possess significant influence over our elections and votes. As a result, their ownership and control may have the effect
of facilitating and expediting a future change in control, merger, consolidation, takeover or other business combination, or encouraging
a potential acquirer to make a tender offer. Their ownership and control may also have the effect of delaying, impeding, or preventing
a future change in control, merger, consolidation, takeover or other business combination, or discouraging a potential acquirer from
making a tender offer.

 If
securities or industry analysts publish inaccurate or unfavorable research about our business, our stock price could decline.

 The
trading market for our common stock will depend in part on the research and reports that securities or industry analysts publish about
us or our business. Once our common stock is quoted, if one or more of the analysts who cover us downgrade our common stock or publish
inaccurate or unfavorable research about our business, our common stock price would likely decline.

 We
do not intend to pay dividends for the foreseeable future.

 We
currently intend to retain any future earnings to finance the operation and expansion of our business, and we do not expect to declare
or pay any dividends on our common stock in the foreseeable future.

 Our
Second Amended and Restated Certificate of Incorporation contains an exclusive forum provision for certain claims, which could limit
our stockholders' ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.

 Our
Second Amended and Restated Certificate of Incorporation provides that, unless we consent in writing to the selection of an alternative
forum, New York shall be the sole and exclusive forum for (a) any derivative action or proceeding brought on behalf of the Company, (b)
any action asserting a claim for breach of a fiduciary duty owed by any director, officer, employee, or agent of the Company to the Company
or the Company's shareholders or (c) any action asserting a claim governed by the internal affairs doctrine, in each case subject
to said court having personal jurisdiction over the indispensable parties named as defendants therein. This provision may limit a shareholder's
ability to bring a claim in a judicial forum that it finds favorable for disputes with the company and its directors, officers, or other
employees and may discourage lawsuits with respect to such claims. This provision does not apply to actions arising under the Exchange
Act or Securities Act.

 Our
issuance of additional common stock or preferred stock may cause our common stock price to decline, which may negatively impact your
investment.

 Issuances
of a substantial number of additional shares of our common or preferred stock, or the perception that such issuances could occur, may
cause prevailing market prices for our common stock to decline. In addition, our board of directors is authorized to issue additional
series of shares of preferred stock without any action on the part of our stockholders. Our board of directors also has the power, without
stockholder approval, to set the terms of any such series of shares of preferred stock that may be issued, including voting rights, conversion
rights, dividend rights, preferences over our common stock with respect to dividends or if we liquidate, dissolve or wind up our business
and other terms. If we issue cumulative preferred stock in the future that has preference over our common stock with respect to the payment
of dividends or upon our liquidation, dissolution or winding up, or if we issue preferred stock with voting rights that dilute the voting
power of our common stock, the market price of our common stock could decrease.

 Anti-takeover
provisions in the Company's charter and bylaws may prevent or frustrate attempts by stockholders to change the board of directors
or current management and could make a third-party acquisition of the Company difficult.

 The
Company's certificate of incorporation and bylaws contain provisions that may discourage, delay or prevent a merger, acquisition
or other change in control that stockholders may consider favorable, including transactions in which stockholders might otherwise receive
a premium for their shares. Furthermore, the Board of Directors has the ability to increase the size of the Board and fill newly created
vacancies without stockholder approval. These provisions could limit the price that investors might be willing to pay in the future for
shares of the Company's common stock.

 Our
common stock may become subject to the SEC's penny stock rules and accordingly, broker-dealers may experience difficulty in completing
customer transactions and trading activity in our securities may be adversely affected.

 The
SEC has adopted regulations, which generally define "penny stock" to be an equity security that has a market price of less
than $5.00 per share, subject to specific exemptions. The market price of our common stock is less than $5.00 per share and therefore
would be a "penny stock" according to SEC rules, unless we are listed on a national securities exchange. Under these rules,
broker-dealers who recommend such securities to persons other than institutional accredited investors must:

 Make
 a special written suitability determination for the purchaser;

 Receive
 the purchaser's prior written agreement to the transaction;

 Provide
 the purchaser with risk disclosure documents which identify certain risks associated with
 investing in "penny stocks" and which describe the market for these "penny
 stocks" as well as a purchaser's legal remedies; and

 Obtain
 a signed and dated acknowledgment from the purchaser demonstrating that the purchaser has
 actually received the required risk disclosure document before a transaction in a "penny
 stock" can be completed.

 Although
our common stock is not currently subject to these rules, it were to become subject to such rules, broker-dealers may find it difficult
to effectuate customer transactions and trading activity in our securities may be adversely affected. As a result, the market price of
our securities may be depressed, and you may find it more difficult to sell your securities.

 ITEM
1B. UNRESOLVED STAFF COMMENTS

 Not
applicable.

 ITEM
1C. CYBERSECURITY

 We
have established policies and processes for assessing, identifying, and managing material risk from cybersecurity threats, and have integrated
these processes into our overall risk management systems and processes. We routinely assess material risks from cybersecurity threats,
including any potential unauthorized occurrence on or conducted through our information systems that may result in adverse effects on
the confidentiality, integrity, or availability of our information systems or any information residing therein.

 We
conduct periodic risk assessments to identify cybersecurity threats, as well as assessments in the event of a material change in our
business practices that may affect information systems that are vulnerable to such cybersecurity threats. These risk assessments include
identification of reasonably foreseeable internal and external risks, the likelihood and potential damage that could result from such
risks, and the sufficiency of existing policies, procedures, systems, and safeguards in place to manage such risks.

 Following
these risk assessments, we re-design, implement, and maintain reasonable safeguards to minimize identified risks; reasonably address
any identified gaps in existing safeguards; and regularly monitor the effectiveness of our safeguards. Primary responsibility for assessing,
monitoring and managing our cybersecurity risks rests with NeTTronix Technology Solutions who reports to our CFO, to manage the risk
assessment and mitigation process.

 We
engage consultants, or other third parties in connection with our risk assessment processes. These service providers assist us to design
and implement our cybersecurity policies and procedures, as well as to monitor and test our safeguards. We require each third-party service
provider to certify that it has the ability to implement and maintain appropriate security measures, consistent with all applicable laws,
to implement and maintain reasonable security measures in connection with their work with us, and to promptly report any suspected breach
of its security measures that may affect our company.

 We
have not encountered cybersecurity challenges that have materially impaired our operations or financial standing.

 Governance

 Our
board of directors addresses the Company's cybersecurity risk management as part of its general oversight function. The board of
directors' audit committee is responsible for overseeing Company's cybersecurity risk management processes, including oversight
and mitigation of risks from cybersecurity threats.

 Our
cybersecurity risk assessment and management processes are implemented and maintained by certain Company management, including the information
technology team at the direction of NeTTronix Technology Solutions. Our executive team including our Chief Executive Officer, and Chief
Financial Officer are responsible for hiring appropriate personnel, helping to integrate cybersecurity risk considerations into the Company's
overall risk management strategy, and communicating key priorities to relevant personnel. This executive team is responsible for approving
budgets, helping prepare for cybersecurity incidents, approving cybersecurity processes, and reviewing security assessments and other
security-related reports.

 Our
cybersecurity incident response and vulnerability management policies are designed to escalate certain cybersecurity incidents to members
of management depending on the circumstances, including our Chief Executive Officer, and Chief Financial Officer. In addition, the Company's
incident response and vulnerability management policies include reporting to the audit committee of the board of directors for certain
cybersecurity incidents including significant breaches to the Company's networks or systems. The audit committee receives regular
reports from the information technology team concerning the Company's significant cybersecurity threats and risk and the processes
the Company has implemented to address them. The audit committee also has access to various reports, summaries or presentations related
to cybersecurity threats, risk and mitigation.

 ITEM
2. PROPERTIES

 Currently,
we do not own any real property. We rent office space at 1061 E. Indiantown Rd., Ste. 110, Jupiter, FL 33477 for $15,038 per month. The
Company entered into the office lease effective July 1, 2021, which has a primary term of the lease of five years with one renewal option
for an additional three years. As part of the Separation Agreement, Caring Brands, Inc. has agreed to assume to lease obligations upon
it reaching certain milestones. We do not own any real estate.

 ITEM
3. LEGAL PROCEEDINGS

 On
November 30, 2023, Intracoastal Capital, LLC ("Intracoastal") filed a lawsuit against the Company in the New York County
Supreme Court, alleging that (i) the Company is in breach of a common stock warrant issued to Intracoastal on or about July 26, 2021,
and (ii) that the Company should be ordered by the court to deliver to Intracoastal 330,619 free trading shares of Company common stock
(the "Intracoastal Litigation"). The Intracoastal Litigation seeks compensatory damages in an amount no less than $2 million,
in addition to liquidated damages and attorney's fees. On January 14, 2025, the Company settled all issues and claims relating
to the Intracoastal Litigation pursuant to the terms of the Intracoastal Settlement Agreement. Under the Intracoastal Settlement Agreement,
the Company agreed to issue to Intracoastal Capital the following: (i) the Intracoastal Settlement Shares and (ii) a settlement payment
of $175,000. The number of Intracoastal Settlement Shares shall be the greater of the Initial Share Amount or the Adjusted Share Amount.
The Intracoastal Settlement Agreement is filed herein as Exhibit 10.33.

 On
September 5, 2023, "Sabby" Volatility Warrant Master Fund Ltd. filed a lawsuit against the Company in the federal district
court for the Southern District of New York case captioned Sabby Volatility Warrant Master Fund Ltd. v. Jupiter Wellness, Inc., No.1:23-cv-07874-KPF
(the "Litigation"). Sabby's initial complaint in the Litigation alleges that the Company's delayed spin-off and
distribution of the common stock of "SRM" Entertainment. Inc. give rise to claims of breach-of-contact, promissory estoppel,
and negligent misrepresentation. On November 10, 2023, Jupiter sought judicial permission to move to dismiss Sabby's complaint,
arguing that Sabby had no legal right to the delayed distribution occurring on the original record date, and that regardless, no law
requires the Company to compensate Sabby for the costs of covering its short position against the Company. In response, the Court allowed
the parties to bypass that dismissal motion briefing so long as Sabby filed an amended complaint by December 15, 2023.

 Sabby
seeks compensatory damages estimated to exceed $500,000. The Company has filed a motion to dismiss Sabby's amended complaint and
is awaiting the Court's ruling. The Company intends to vigorously defend itself against Sabby's claims and does not believe
that the Litigation's ultimate disposition or resolution will have a material adverse effect on the Company's financial position,
results of operations or liquidity. The case was dismissed with prejudice by the federal district court for the Southern District of
New York on September 23, 2024. On October 10, 2024, Sabby filed an appeal of the Southern District's dismissal to the United States
Court of Appeals for the Second Circuit. The Company is awaiting the decision from the Court of Appeals for the Second Circuit.

 On
February 9, 2024, "Sabby" Volatility Warrant Master Find Ltd. sued the Company in the federal district court for the Southern
District of New York, case captioned, Sabby Volatility Warrant Master Fund Ltd. v. Safety Shot, Inc., No. 1:24-cv-920-NRB (the "Litigation").
Sabby's initial complaint alleges that the Company has improperly refused to honor Sabby's exercise of a Warrant to acquire
2,105,263 shares of common stock. On March 8, 2024, Sabby filed an amended complaint. The Company has answered the amended complaint
is due on March 29, 2024. Sabby seeks "liquidated and compensatory damages in an amount to be proven at trial," including
compensatory damages "estimated to be at least $750,000," liquidated damages "estimated to be at least $600,000,"
specific performance, attorneys' fees, expenses and costs. The Company intends to vigorously defend itself against Sabby's
claims and does not believe that the Litigation's ultimate disposition or resolution will have a material adverse effect on the
Company's financial position, results of operations or liquidity.

 On
January 16, 2024, 3i LP ("3i"), filed a lawsuit against the Company in the Supreme Court of the State of New York in the
County of New York, case captioned, 3i LP v. Safety Shot, Inc. No. 650196/24 (the "Litigation"). The case stems from the
Company's alleged denial of 3i's attempt to exercise certain warrants and states causes of action for actual damages and
liquidated damages in an amount of approximately $380,000. The Company filed its answer to the complaint on or about March 7, 2024. The
Company intends to defend itself vigorously against Sabby's claims and does not believe that the Litigation's ultimate disposition
will have a material adverse effect on the Company's financial position, results of operations or liquidity.

 On
January 10, 2024, Bigger Capital Fund, L.P. ("Bigger Capital"), filed a lawsuit against the Company in the Supreme Court
for the State of New York, Case No. 650148/2024 (the "Bigger Litigation"). The Litigation stemmed from the Company's
warrant to purchase 1,656,050 shares of Company common stock issued to Bigger Capital on July 20, 2021, and asserts causes of action
for Breach of Contract, Specific Performance and Declaratory Relief. Pursuant to the Bigger Litigation, Bigger capital sought compensatory
damages of $3 million, liquidated damages in an estimated amount of $4 million, specific performance, attorney's fees and declaratory
relief.

 On
January 20, 2025, the Company entered into the Bigger Settlement Agreement. In exchange for a resolution to all issues and claims that
relate to the previously filed action against the Company in the Supreme Court of the State of New York, New York County, Index No. 65018/2024.
Pursuant to the Bigger Settlement Agreement, the Company agreed to pay or issue to Bigger Capital the following: (i) pay Bigger Capital
$375,000; (ii) issue a secured convertible note in the principal amount of $1.75 million maturing on December 31, 2026 (the "Secured
Convertible Bigger Note"); (iii) a convertible note in the principal amount of $3.5 million maturing June 30, 2025 (the "Convertible
Bigger Note," and, together with the Secured Convertible Bigger Note, the "Bigger Notes"); and (iv) 5,332,889 shares
of common stock issuable upon the exercise of common stock purchase warrants to purchase shares of common stock of the Company at an
exercise price of $0.4348 per share (the "Bigger Warrants"). A significant shareholder of the Company and Bigger Capital
entered into a voting agreement in favor of Bigger Capital in addition to the Bigger Settlement Agreement. The Bigger Settlement Agreement
is filed herein as Exhibit 10.32. The Secured Convertible Bigger Note is filed herein as Exhibit 4.5 and the Convertible Bigger Note
is filed herein as Exhibit 4.6.

 On
or about January 18, 2024, Alta Partners, LLC, ("Alta") filed a lawsuit against the Company in the federal district court
for the Southern District of New York, case captioned, Alta Partners, LLC v. Safety Shot, Inc. No. 24-cv-373 (S.D.N.Y.) (the "Litigation").
The Litigation stems from the Company's warrant to purchase shares of Company common stock and asserts causes of action for Breach
of Contract Breach of the Implied Covenant of Good Faith and Fair Dealing (in the alternative) and violation of Section 11 of the Securities
Act of 1933. The Litigation seeks compensatory general and liquidated damages in an amount to be proven at trial. On or about January
29, 2025, the Company settled the Litigation by agreeing to pay $350,000 in exchange for a release of all claims by Alta.

 The
Company may be subject to legal proceedings and claims arising from contracts or other matters from time to time in the ordinary course
of business. Management is not aware of any pending or threatened litigation where the ultimate disposition or resolution could have
a material adverse effect on its financial position, results of operations or liquidity.

 ITEM
4. MINE SAFETY DISCLOSURES.

 Not
applicable.

 PART
II

 ITEM
5. MARKET FOR COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES

 The
Company's common stock is traded on the NASDAQ Stock Market LLC under the symbol SHOT and its warrants are traded under the symbol
SHOTW.

 The
following table sets forth the range of high and low bid prices for our common stock for each of the periods indicated as reported by
such marketplaces. These quotations reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not represent
actual transactions.

 Period

 High

 Low

 2024 Fiscal Year:

 Fourth Quarter Ended December 31, 2024

 $
 1.35

 $
 1.67

 Third Quarter Ended September 30, 2024

 $
 1.77

 $
 1.55

 Second Quarter Ended June 30, 2024

 $
 2.46

 $
 1.00

 First Quarter Ended March 31, 2024

 $
 4.05

 $
 1.95

 2023 Fiscal Year:

 Fourth Quarter Ended December 31, 2023

 $
 7.50

 $
 1.04

 Third Quarter Ended September 30, 2023

 $
 1.58

 $
 0.32

 Second Quarter Ended June 30, 2023

 $
 0.48

 $
 0.27

 First Quarter Ended March 31, 2023

 $
 0.97

 $
 0.28

 We
consider our common stock to be thinly traded and, accordingly, reported sales prices or quotations may not be a true market-based valuation
of our common stock.

 As
of March 30, 2025, there were 42 holders of record of our common stock, and no holders of record of our warrants.

 Dividends

 We
do not anticipate paying any cash dividends on our common stock in the foreseeable future and we intend to retain all of our earnings,
if any, to finance our growth and operations and to fund the expansion of our business. Payment of any dividends will be made in the
discretion of our Board of Directors, after our taking into account various factors, including our financial condition, operating results,
current and anticipated cash needs and plans for expansion. No dividends may be declared or paid on our common shares, unless a dividend,
payable in the same consideration or manner, is simultaneously declared or paid, as the case may be, on our shares of preferred stock,
if any.

 Issuance
of Unregistered Securities

 There were no sales of unregistered
securities during the fiscal year ended December 31, 2024 other than those transactions previously reported to the SEC on our quarterly
reports on Form 10-Q and current reports on Form 8-K.

 Securities
Authorized for Issuance under Equity Compensation Plans

 On
July 31, 2023 and January 17, 2024, our Board of Directors and majority shareholders, respectively, approved the Safety Shot, Inc. 2024
Equity Incentive Plan (the "2024 Plan"), to be administered by our Compensation Committee. Pursuant to the 2024 Plan, we
are authorized to grant options and other equity awards to officers, directors, employees and consultants. The purchase price of each
share of common stock purchasable under an award issued pursuant to the 2024 Plan, shall be determined by our Compensation Committee,
in its sole discretion, at the time of grant, but shall not be less than 100% of the fair market of such share of common stock on the
date the award is granted, subject to adjustment. Our Compensation Committee shall also have sole authority to set the terms of all awards
at the time of the grant. Pursuant to the 2024 Plan, a maximum of 15,000,000 shares of our common stock shall be set aside and reserved
for issuance, subject to adjustments as may be required in accordance with the terms of the 2023 Plan.

 On
October 31, 2023 and December 5, 2023, our Board of Directors and majority shareholders, respectively, approved the Safety Shot, Inc.
2023 Equity Incentive Plan (the "2023 Plan"), to be administered by our Compensation Committee. Pursuant to the 2023 Plan,
we are authorized to grant options and other equity awards to officers, directors, employees and consultants. The purchase price of each
share of common stock purchasable under an award issued pursuant to the 2023 Plan, shall be determined by our Compensation Committee,
in its sole discretion, at the time of grant, but shall not be less than 100% of the fair market of such share of common stock on the
date the award is granted, subject to adjustment. Our Compensation Committee shall also have sole authority to set the terms of all awards
at the time of the grant. Pursuant to the 2023 Plan, a maximum of 7,000,000 shares of our common stock shall be set aside and reserved
for issuance, subject to adjustments as may be required in accordance with the terms of the 2023 Plan.

 ITEM
6. SELECTED FINANCIAL DATA

 Not
applicable to a smaller reporting company.

 ITEM
7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 This
annually report contains forward-looking statements. These statements relate to future events or our future financial performance. In
some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects",
"plans", "anticipates", "believes", "estimates", "predicts", "potential"
or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve
known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity,
performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed
or implied by these forward- looking statements. Although we believe that the expectations reflected in the forward-looking statements
are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable
law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform
these statements to actual results.

 Our
audited financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally
Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related
notes that appear elsewhere in this annually report. The following discussion contains forward-looking statements that reflect our plans,
estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that
could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this annually report.

 In
this annually report, unless otherwise specified, all dollar amounts are expressed in United States dollars and all references to "common
shares" refer to the common shares in our capital stock.

 As
used in this annually report and unless otherwise indicated, the terms "we", "us", "our", "SHOT"
and the "Company" mean Safety Shot, Inc.

 Company
Overview

Shot Inc. (NASDAQ: SHOT) was formerly known as Jupiter Wellness Inc. In August 2023, the Company successfully completed the asset purchase
of the functional beverage Safety Shot from GBB Drink Lab, Inc. ("GBB"), thereby gaining ownership of various assets, including
the intellectual property, trade secrets, and trademarks associated with its dietary supplement Safety Shot Beverage (the "Safety
Shot Beverage"). Concurrently with the asset purchase, the Company changed its name to Safety Shot, Inc. and changed its NASDAQ
trading symbol to SHOT. The Company launched its e- commerce sale of the Safety Shot Beverage in December 2023.

 The
Safety Shot Beverage has been formulated to reduce the accumulation of blood alcohol. Noteworthy is the fact that the Safety Shot Beverage
comprises 28 active ingredients, all falling under the Generally Regarded As Safe (GRAS) category. Under sections 201(s) and 409 of the
Federal Food, Drug, and Cosmetic Act (the Act), any substance that is intentionally added to food is a dietary supplement, that is subject
to premarket review and approval by FDA, unless the substance is generally recognized, among qualified experts, as having been adequately
shown to be safe under the conditions of its intended use, or unless the use of the substance is otherwise excepted from the definition
of a dietary supplement.

 It's
crucial to note that the Safety Shot Beverage is currently manufactured in a facility adhering to Good Manufacturing Practices (GMP),
ensuring the highest standards of quality and safety throughout its production process. The Company currently maintains a workforce comprising
eight full-time employees of its own.

 Specializing
in Consumer Packaged Goods, our focus centers on the commercialization of a 12-ounce beverage positioned as a dietary supplement. Beyond
our existing product, we are actively pursuing a future product line, including a convenient powdered stick pack version. This strategic
expansion aligns with our corporate vision to address evolving consumer demands, positioning the Company in the market for dietary supplements.
We believe that this initiative not only enriches our product portfolio but also emphasizes our dedication to innovation and adaptability,
catering to the discerning preferences of health-conscious consumers. The Company intends to continue its current product lines, except
for its products which contain CBD, which the Company no longer sells. Our product pipeline also includes a diverse range of products,
such as hair loss treatments, vitiligo solutions, and sexual wellness products, that cater to different health and wellness needs and
our commitment to supporting health and wellness by developing innovative solutions to a range of conditions but will focus our efforts
on the commercialization of the Safety Shot Beverage.

 The
Safety Shot Beverage has established a development infrastructure that the Company believes fits with its existing over-the-counter and
prescription-grade health and wellness products.

 To
achieve our mission, we rely on our team of highly skilled and experienced professionals who are committed to advancing our vision of
health and wellness. Our team includes individuals with scientific backgrounds, an experienced researcher, product developers, and business
experts who collaborate to create new products and enhance existing ones. We also seek to partner with industry leaders and organizations
to gain access to the latest technologies and expand our reach.

 We
generate revenue through various channels, our primary sales include our "nostingz" suncare products which are sold through
e-commerce platforms, licensing revenues from Photocil and sales of the Safety Shot Beverage. Photocil is currently sold in India through
a licensing agreement. We received FDA approval of our labelling and composition to sell Photocil as an OTC product in the US and plan
to relaunch the product in the US in the fourth quarter of 2024 through e-commerce channels. Safety Shot Beverage is currently sold through
e-commerce and social media platforms. Additionally, we are collaborating with other companies to license our intellectual property,
to create additional revenue streams and expand our global presence. At present, we do not experience concentration risk or dependence
on major customers.

 We
maintain a diverse network of raw material suppliers integral to our production processes. Acquisition strategies encompass both direct
procurement and collaborative efforts with our co-packers. The selection of suppliers is contingent upon various factors, including ingredient
specificity, availability, and other essential considerations. Notably, these suppliers coincide with those currently providing materials
to other facilities engaged in the manufacturing of drinks, powders, tablets, and capsules. Our roster of suppliers comprises reputable
entities such as Jiaherb, Compound Solutions, Kyowa- Hakko, Mitsubishi Ingredients, Nura, Sensapure Flavors, Brenntag, E3 Ingredients,
Ingredients Online, among others. This strategic alliance with established industry players underscores our commitment to sourcing high-quality
raw materials essential for the production of our innovative product line. Furthermore, our approach to supplier relationships reflects
a dedication to maintaining a seamless and reliable supply chain. We believe that this not only ensures the consistency of our current
offerings but also positions us favorably for future developments. The Management believes that as we continue to expand our product
portfolio, we believe that these partnerships with trusted suppliers play a pivotal role in upholding the standards that we expect of
our brand.

 As
a result of recent changes to the laws governing CBD products, as well as the declining popularity of CBD products, the Company no longer
markets or sells any CBD products. The Company hopes to find a suitor or partner to dispose of its CBD related assets but has not entered
into any agreements to do so.

 Critical
Accounting Policies

 Our
management's discussion and analysis of our financial condition and results of operations is based on our audited financial statements
for the year ended December 31, 2024 and 2023, which have been prepared in accordance with United States generally accepted accounting
principles, or U.S. GAAP, and the rules and regulations of the Securities and Exchange Commission. The preparation of the financial statements
requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent
assets and liabilities at the date of the financial statements as well as the reported revenue generated, and expenses incurred during
the reporting periods. Our estimates are based on our historical experience and on various other factors that we believe are reasonable
under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities
that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions
and any such differences may be material. We believe that the accounting policies discussed below are critical to understanding our historical
and future performance, as these policies relate to the more significant areas involving management's judgments and estimates.

 The
financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("US
GAAP") and are expressed in United States Dollars. Significant accounting policies are summarized below:

 Revenue
Recognition

 The
Company generates its revenue from the sale of its products directly to the end user or distributor (collectively the "customer").

 The
Company recognizes revenues by applying the following steps in accordance with FASB Accounting Standards Codification 606 "Revenue
from Contracts with Customers" ("ASC 606"). Under ASC 606, revenues are recognized when control of the promised goods
or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange
for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to
be recognized as it fulfills its obligations under each of its agreements:

 identify
 the contract with a customer;

 identify
 the performance obligations in the contract;

 determine
 the transaction price;

 allocate
 the transaction price to performance obligations in the contract; and

 recognize
 revenue as the performance obligation is satisfied.

 The
Company's performance obligations are satisfied when goods or products are shipped on an FOB shipping point basis as title passes
when shipped. Our product is generally paid in advance of shipment or standard net 30 days and we offer no specific right of return,
refund or warranty related to our products except for cases of defective products of which there have been none to date.

 Inventory

 Inventories
are stated at the lower of cost or market. The Company periodically reviews the value of items in inventory and provides write-downs
or write-offs of inventory based on its assessment of market conditions. Write-downs and write-offs are charged to cost of goods sold.
Inventory is based upon the average cost method of accounting.

 Use
of Estimates

 The
preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements
and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.

 Impairment
of Long-Lived Assets

 We
evaluate long-lived assets (including intangible assets) for impairment whenever events or changes in circumstances indicate that the
carrying amount of a long-lived asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds the undiscounted
future net cash flow the asset is expected to generate.

 Goodwill
and Intangible Assets

 Goodwill
is tested for impairment at a minimum on an annual basis. Goodwill is tested for impairment at the reporting unit level by first performing
a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying
value. If the reporting unit does not pass the qualitative assessment, then the reporting unit's carrying value is compared to
its fair value. The fair values of the reporting units are estimated using market and discounted cash flow approaches. Goodwill is considered
impaired if the carrying value of the reporting unit exceeds its fair value. The discounted cash flow approach uses expected future operating
results. Failure to achieve these expected results may cause a future impairment of goodwill at the reporting unit.

 Intangible
assets consist of patents and trademarks, purchased customer contracts, purchased customer and merchant relationships, purchased trade
names, purchased technology, and non-compete agreements. Intangible assets are amortized over the period of estimated benefit using the
straight- line method and estimated useful lives ranging from one to twenty years. No significant residual value is estimated for intangible
assets. We evaluate long- lived assets (including intangible assets) for impairment whenever events or changes in circumstances indicate
that the carrying amount of a long-lived asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds
the undiscounted future net cash flow the asset is expected to generate.

 Investments
Held-to-Maturity

 Investments
that the Company's management has the "positive intent and ability" to hold through maturity are classified and accounted
for as hold-to-maturity investments ("HTM"). HTM investments are carried at amortized cost in the financial statements. For
investments classified as HTM, no unrealized gains and losses will be recognized in financial statements.

 Earnings
(Loss) Per Share

 Net
income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income
(loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during
the period. If applicable, diluted earnings per share assume the conversion, exercise or issuance of all common stock instruments such
as options, warrants, convertible securities and preferred stock, unless the effect is to reduce a loss or increase earnings per share.
Warrants are not considered in the calculations for the years ended December 31, 2024 and 2023, as the impact of the potential common
shares would be to decrease the loss per share.

 For the Years Ended
December 31,

 2024

 2023

 Numerator:

 (49,409,632
)

 (15,083,041
)

 Net (loss)

 Deemed Dividend

 (2,293,301

)

 -

 Loss attributable to shareholders

 $
 (51,702,933

)

 $
 (15,083,041

)

 Denominator:

 Denominator for basic earnings per share - Weighted-average common shares issued and outstanding during the period

 54.441,190

 Denominator for diluted earnings per share

 Basic (loss) per share

 $
 (0.91
)

 $
 (0.49
)

 Diluted (loss) per share

 $
 (0.91
)

 $
 (0.49
)

 Loss per share attributed to common shareholders

 $
 (0.95
)

 -

 Cash

 We
consider all short-term investments with a maturity of three months or less when purchased to be cash and equivalents for purposes of
the statement of cash flows. There were no cash equivalents as December 31, 2024 and 2023.

 Fore ig n
Currency Translation

 Assets
and liabilities in foreign currencies are translated using the exchange rate at the balance sheet date, while revenue and expense accounts
are translated at the average exchange rates prevailing during the period. Equity accounts are translated at historical exchange rates.
Gains and losses from foreign currency transactions and translation for the years ended December 31, 2024 and 2023 and the cumulative
translation gains and losses as of December 31, 2024 and 2023 were not material.

 Accounts
Receivable

 Accounts
receivable are generated from sales of the Company's products. The Company provides an allowance for doubtful collections, which
is based upon a review of outstanding receivables, historical collection information, and existing economic conditions. During the years
ended December 31, 2024 and 2023, the Company recognized no allowance for doubtful collections.

 Fair
Value of Financial Instruments

 The
fair value of our assets and liabilities, which qualify as financial instruments under ASC Topic 820, "Fair Value Measurements
and Disclosures," approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term
nature.

 Income
Taxes

 We
account for income taxes under ASC 740 Income Taxes ("ASC 740"). ASC 740 requires the recognition of deferred tax assets
and liabilities for both the expected impact of differences between the financial statement and tax basis of assets and liabilities and
for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation
allowance to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized.

 ASC
740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements and prescribes
a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected
to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination
by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim
period, disclosure and transition. Based on our evaluation, it has been concluded that there are no significant uncertain tax positions
requiring recognition in our financial statements. Since we were incorporated on October 24, 2018, the evaluation was performed for 2018
tax year, which would be the only period subject to examination. We believe that our income tax positions and deductions would be sustained
on audit and does not anticipate any adjustments that would result in a material changes to our financial position. Our policy for recording
interest and penalties associated with audits is to record such items as a component of income tax expense.

 The
Company's deferred tax asset at December 31, 2024 and 2023 consists of net operating loss carry forwards calculated using
federal and state effective tax rates equating to approximately $14,660,582 and $8,658,484, respectively. Due to the Company's
lack of earnings history, the deferred tax asset has been fully offset by a valuation allowance of $14,660,582 and $8,658,484 for the
years ended December 31, 2024 and 2023.

 Research
and Development

 The
Company accounts for research and development costs in accordance with the Accounting Standards Codification subtopic 730-10, Research
and Development ("ASC 730-10"). Under ASC 730-10, all research and development costs must be charged to expense as incurred.
Accordingly, internal research and development costs are expensed as incurred. Third-party research and developments costs are expensed
when the contracted work has been performed or as milestone results have been achieved. Company-sponsored research and development costs
related to both present and future products are expensed in the period incurred. The Company incurred research and development expenses
of $ 271,719 and $100,591 for the year ended December 31, 2024 and 2023, respectively.

 Stock
Based Compensation

 We
recognize compensation costs to employees under FASB Accounting Standards Codification 718 "Compensation - Stock Compensation"
("ASC 718"). Under ASC 718, companies are required to measure the compensation costs of share-based compensation arrangements
based on the grant- date fair value and recognize the costs in the financial statements over the period during which employees are required
to provide services. Share-based compensation arrangements include stock options and warrants. As such, compensation cost is measured
on the date of grant at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the
option grant. For options granted to employes, we use a plain vanilla Black-Scholes
calculation to calculate fair value with standard market inputs.

 On
October 24, 2018, the inception date ("Inception"), we adopted ASU No. 2018-07 "Compensation - Stock Compensation (Topic
718): Improvements to Nonemployee Share-Based Payment Accounting." These amendments expand the scope of Topic 718, Compensation
- Stock Compensation (which currently only includes share-based payments to employees) to include share-based payments issued to non-employees
for goods or services. Consequently, the accounting for share-based payments to nonemployees and employees will be substantially aligned.

 Recent l y
Issued Accounting Pronouncements

 In
June 2018, the FASB issued ASU 2018-07, which simplifies the accounting for non-employee share-based payment transactions. The amendments
specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed
in a grantor's own operations by issuing share-based payment awards. The standard will be effective for us in the first quarter
of our fiscal year 2020, although early adoption is permitted (but no sooner than the adoption of Topic 606). The Company has adopted
this standard beginning January 1, 2019. The adoption of this standard has not had a significant impact on the Company's results
of operations, financial condition, cash flows, and financial statement disclosures.

 In
February 2016, Topic 842, "Leases" was issued to replace the leases requirements in Topic 840, "Leases". The
main difference between previous GAAP and Topic 842 is the recognition of lease assets and lease liabilities by lessees for those leases
classified as operating leases under previous GAAP. A lessee should recognize in the balance sheet a liability to make lease payments
(the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with
a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize
lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a
straight-line basis over the lease term. The accounting applied by a lessor is largely unchanged from that applied under previous GAAP.
Topic 842 will be effective for annual reporting periods beginning after December 15, 2018, including interim periods within those annual
periods and is to be retrospectively applied. The Company has adopted this standard beginning January 1, 2019. The adoption of this standard
has not had a significant impact on the Company's results of operations, financial condition, cash flows, and financial statement
disclosures.

 Results
of Operations

 For
the years ended December 31, 2024 and 2023

 The
following table provides selected financial data about us for the year ended December 31, 2024 and 2023, respectively.

 December 31, 2024

 December 31, 2023

 Sales

 $
 701,967

 $
 202,670

 Cost of Sales

 3,147,724

 277,127

 Gross Profit (Loss)

 (2,445,757
)

 (74,457
)

 Total operating expenses

 39,611,915

 12,524,869

 Other (income) expenses

 6,354,158

 2,222,187

 Net Loss from continuing operations

 $
 (48,411,830
)

 $
 (14,821,513
)

 Income (loss) from discontinued operations

 (997,802
)

 (261,528
)

 Net Loss

 $
 (49,409,632
)

 $
 (15,083,041
)

 Deemed Dividend

 $
 (2,293,301

)

 -

 Loss attributable to shareholders

 $
 (51,702,933

)

 (15,083,041

)

 Revenues

 We
generated $701,967 in revenues for the year ended December 31, 2024 compared to $202,670 revenues for the year ended December 31, 2023.
The increase is due to the Company the commencement of marketing and selling its Safety Shot beverage in December 2023.

 Operating
Expenses

 We
had total operating expenses of $39,611,915 for the year ended December 31, 2024 compared to $12,524,869 for the year ended December
31, 2023.

 Operating
expenses for the year ended December 31, 2024, totaled $39,611,915 and were in connection with our daily operations as follows: (i) marketing
expenses of $7,038,078; (ii) research and development of $232,161 which included clinical trials; (iii) legal and professional expenses
of $8,063,858 primarily for due diligence and legal work on a proposed merger and litigation along with corporate advisory services,
registration statement preparation fees, general corporate governance fees; (iv) rent and utilities of $275,247; (v) depreciation and
amortization of $428,827; (vi) general and administrative expenses of $3,117,507, consisting of payroll and related taxes, travel, meals
and entertainment, office supplies and expense and other normal office and administration expenses; and (vii) stock based compensation
of $20,456,237 consisting of the fair value of stock issued in lieu of cash.

 Operating
expenses for the year ended December 31, 2023, totaled $12,524,869 and were in connection with our daily operations as follows: (i) marketing
expenses of $566,666; (ii) research and development of $100,591 which included clinical trials; (iii) legal and professional expenses
of

 $4,856,586
primarily for due diligence and legal work on two proposed mergers and litigation along with corporate advisory services, registration
statement preparation fees, general corporate governance fees; (iv) rent and utilities of $206,871; (v) depreciation and amortization
of $215,175; (vi) general and administrative expenses of $4,296,899, consisting of payroll and related taxes, travel, meals and entertainment,
office supplies and expense and other normal office and administration expenses; (vii) stock based compensation of $2,082,081 consisting
of the fair value of stock issued in lieu of cash and (viii) impairment of a $200,000 advance to an affiliate.

 Other
income and expense

 Other
income and expense for the year ended December 31, 2024, included realized gains of $1,193,666 on the sale of marketable securities and
$862,407 of unrealized losses on unsold marketable securities, net interest expense
of $118,325 and other income of $6,567,092.

 Other
income and expense for the year ended December 31, 2023, included realized gains of $244,504 on the sale of marketable securities and
$1,511,488 of unrealized losses on unsold marketable securities, unrealized loss of $864,418 on equity investment, net interest expense
of $114,093 and other income of $23,308.

 Income
and loss f rom discontinued operations

 For
the year ended December 31, 2024 and 2023, The Company had losses from discontinued operations of $997,802 and $261,528, respectively.

 Income/Losses

 Net
losses were $49,409,632 and $15,083,041 for the years ended December 31, 2024 and 2023, respectively.

 Deemed
Dividend

 In
connection with the settlement with Bigger Capital, Company agreed to cancel 1,656,050 original warrants with an exercise price of $1.40
held by Bigger in exchange for 5,332,889 "exchange" warrants with an exercise price of $0.4348. The fair value of the exchange
warrants is $2,732,329 which is offset by the fair value of the remaining life of the original warrant of $439,028 and is considered
a deemed dividend attributable to the shareholders in the determination of earnings (loss) per share.

 Impact
of Inflation

 We
believe that inflation has had a negligible effect on operations since inception. We believe that we can offset inflationary increases
in the cost of operations by increasing sales and improving operating efficiencies.

 Off
Balance Sheet Arrangements

 We
do not have off-balance sheet arrangements, financings, or other relationships with unconsolidated entities or other persons, also known
as "variable interest entities."

 Liquidity
and Capital Resources

 The
Company is in commercialization mode, while continuing to pursue the development of its next generation products as well as new products
that are being developed.

 We
generally require cash to:

 launch
 sales initiatives,

 fund
 our operations and working capital requirements,

 develop
 and execute our product development and market introduction plans,

 fund
 research and development efforts, and

 pay
 any expense obligations as they come due.

 ITEM
7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 Not
applicable to a smaller reporting company.

 ITEM
8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

 Our
financial statements and corresponding notes thereto called for by this item may be found beginning on page F-1 of this Annual Report
on Form 10-K.

 ITEM
9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURES

 None.

 ITEM
9A. CONTROLS AND PROCEDURES

 Evaluation
of Disclosure Controls and Procedures

 The
Company maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in the
Company's Exchange Act reports is recorded, processed, summarized and reported within the time communicated to the
Company's management, including its Chief Executive Officer and principal financial officer, as appropriate, to allow timely
decisions regarding required disclosure based closely on the definition of "disclosure controls and procedures" in Rule
13a-15(e). The Company's disclosure controls and procedures are designed to provide a reasonable level of assurance of
reaching the Company's desired disclosure control objectives. In designing periods specified in the SEC's rules and
forms, and that such information is accumulated and evaluating the disclosure controls and procedures, management recognized that
any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the
desired control objectives, and management necessarily was required to apply its judgment in evaluating the cost-benefit
relationship of possible controls and procedures. The Company's certifying officers have concluded that the Company's
disclosure controls and procedures are not effective in reaching that level of assurance.

 At
the end of the period being reported upon, the Company carried out an evaluation, under the supervision and with the participation of
the Company's management, including the Company's Chief Executive Officer and principal financial officer, of the effectiveness
of the design and operation of the Company's disclosure controls and procedures. Based on the foregoing, our Chief Executive Officer
and principal financial officer concluded that our disclosure controls and procedures were ineffective to ensure that the material information
required to be included in our Securities and Exchange Commission reports is accumulated and communicated to our management, including
our principal executive and financial officer, recorded, processed, summarized and reported within the time periods specified in Securities
and Exchange Commission rules and forms relating to the Company, based on the assessment and control of disclosure decisions currently
performed by a small team. The Company plans to expand its management team and build a fulsome internal control framework required by
a more complex entity.

 Management's
Report on Internal Control over Financial Reporting

 Management
of the Company is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Section
13a-15(f) of the Securities Exchange Act of 1934, as amended). Internal control over financial reporting is a process designed by, or
under the supervision of, the Company's principal financial officer to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of the Company's financial statements for external reporting purposes in conformity with
U.S. generally accepted accounting principles and include those policies and procedures that (i) pertain to the maintenance of records
that in reasonable detail accurately and fairly reflect the transactions and disposition of the assets of the company; (ii) provide reasonable
assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted
accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorization of management
and directors of the Company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition,
use or disposition of the Company's assets that could have a material effect on the financial statements.

 As
of December 31, 2024, management conducted an assessment of the effectiveness of the Company's internal control over financial
reporting based on the framework established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations
(COSO) of the Treadway Commission. Based on the criteria established by COSO management concluded that the Company's internal control
over financial reporting was ineffective as of December 31, 2024.

 This
Report does not include an attestation report of the Company's independent registered public accounting firm regarding internal
control over financial reporting as smaller reporting companies are not required to include such report and EGC's are exempt from
this requirement entirely until they are no longer an EGC. Management's report is not subject to attestation by the Company's
independent registered public accounting firm.

 Limitations
on the Effectiveness of Controls

 Management
has confidence in its internal controls and procedures. The Company's management believes that a control system, no matter how
well designed and operated can provide only reasonable assurance and cannot provide absolute assurance that the objectives of the internal
control system are met, and no evaluation of internal controls can provide absolute assurance that all control issues and instances of
fraud, if any, within a company have been detected. Further, the design of an internal control system must reflect the fact that there
are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitation
in all internal control systems, no evaluation of controls can provide absolute assurance that all control issuers and instances of fraud,
if any, within the Company have been detected.

 Changes
in Internal Controls

 There
were no changes in the Company's internal controls over financial reporting that occurred during the fiscal year ended December
31, 2024 that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting.

 Internal
control systems, no matter how well designed and operated, have inherent limitations. Therefore, even a system which is determined to
be effective cannot provide absolute assurance that all control issues have been detected or prevented. Our systems of internal controls
are designed to provide reasonable assurance with respect to financial statement preparation and presentation.

 ITEM
9B. OTHER INFORMATION

 None.

 PART
III

 ITEM
10. DIRECTORS AND EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

 Our
directors and executive officers and their respective ages as of the date of this Form 10-K are as follows:

 Name

 Age

 Position(s)

 John Gulyas

 Chairman and Director

 Danielle De Rosa

 Chief Financial Officer

 Jarrett Boon

 Chief Executive Officer
 and Director

 David Sandler

 Chief Operating Officer

 Jordan Schur

 Director and President

 Richard Pascucci

 Christopher Marc Melton

 David J. Long

 The
following describes the business experience of each of our directors and executive officers, including other directorships held in reporting
companies:

 John
Gulyas, Chairman and Director, has served as one of our directors since July 2023. Mr. Gulyas has owned and operated multiple franchise
brands over the last 13 years. Since 2015 John has been the owner and the CEO of 2v consulting LLC. Since February 2020 John has been
working as the Founder and President of GBB Drink Lab, who is the world's first rapid blood alcohol detoxification drink, and which
was recently acquired by the Company. From October 2018 to September 2021, John worked as a vice president of franchise development at
Vio Med Spa. He worked as site development coordinator at European Wax Center from June 2007 to March 2017.

 Jarrett
Boon, Chief Executive Officer and Director, has served as the director since October 2023 and was appointed as the Chief Executive
Officer of the Company in February 2024. Mr. Boon was the Co-Founder and CEO of GBB Drink Lab, which developed Safety Shot Beverages,
the first patented beverage on Earth that helps people feel better faster by reducing blood alcohol content and boosting clarity. Mr.
Boon has over 30 years of experience building successful businesses from creation to exit. He was one of the original thought leaders
and investors in LifeLock, a leading identity protection provider, where he applied his expertise in sales, marketing, and strategic
business development to grow LifeLock to $500 million in revenue. LifeLock went public in 2012 and was subsequently acquired by Symantec
in 2016 for $2.3 billion. Prior to LifeLock, Mr. Boon founded SW Promotions, a marketing and advertising company. SW Promotions and its
400 employees were acquired by one of its publicly traded partners.

 Jordan
Schur, Director and President, has served as Director and President of the Company since March of 2024. In 2006, He has worked as
the Chief Executive Officer and Chairman of Suretone Entertainment Group since 2006, as well as the Chief Executive Officer of Mimram
Shur Pictures. Mr. Schur has held influential positions at various studios and record companies, overseeing artists like Snoop Dogg,
Nirvana and Guns and Roses. His achievements include re-launching Geffen Records and boosting its revenue to over $1 billion, as well
as founding the successful Flip Records. In the film sector, Mr. Schur co-founded Mimran Schur Pictures and Suretone Pictures, producing
notable films such as "Warrior," which earned an Academy Award nomination, and "Stone." His entrepreneurial ventures
also include Suretone Entertainment, which encompasses record labels and management companies that have made significant cultural impacts.

 In
addition, Mr. Schur co-founded film production company Mimran Schur Pictures in 2007. Mr. Schur worked as the President of Geffen Records/UMG
from January 1999 to June of 2007. Under Mr. Schur's oversight, Geffen Records achieved over $1 billion in revenue while becoming
a consistent global market share leader for Universal Music Group. Mr. Schur has a Bachelor of Arts degree from Boston College.

 Danielle
De Rosa, Chief Financial Officer, has over 25 years of experience in all aspects of financial services and operational functions.
Ms. De Rosa served as Chief Financial Officer at Virtra since January 2023. From July 2022 to December 2022, Ms. De Rosa served as the
CFO at Common Spirit. From December 2010 to February 2022, Ms. De Rosa served as the Senior Finance Officer at Lorts Manufacturing. Ms.
Rosa moved all around the U.S. and has a Master of Business Management and a Bachelor of Science in Accounting. Ms. De Rosa is a Harvard
graduate in risk management and financial leadership as well.

 Christopher
Marc Melton, Director, has served as one of our directors since August 2019. Mr. Melton has served as director of SG Blocks, Inc.
since November of 2011 and currently serves as the Audit Committee Chairman. From 2000 to 2008, Mr. Melton was a Portfolio Manager for
Kingdon Capital Management ("Kingdon") in New York City, where he ran in excess of $1 Billion book in media, telecom, and
Japanese investment. Mr. Melton opened Kingdon's office in Japan, where he set up a Japanese research company. From 1997 to 2000,
Mr. Melton served as a Vice President at JPMorgan Investment Management as an equity research analyst, where he helped manage $1 Billion
plus in REIT funds under management. Mr. Melton was a Senior Real Estate Equity Analyst at RREEF Funds in Chicago from 1995 to 1997.
Mr. Melton is Principal and co-founder of Callegro Investments, a specialist land investor. He currently serves on several Public and
Private Boards as well as Chairman of the Audit Committee of a Nasdaq listed company.

 Richard
Pascucci, Director, has over 20 years of experience in the beverage industry. Since May 2018 Mr. Pascucci has been working as the
founder and owner of Black Apple Group, LLC, a consulting group specializing in strategy, brand marketing, business intelligence, business
insights and category development. Since May 2017, Mr. Pascucci has been working as the Beverage Consultant at Pascucci Enterprise, wherein
he is responsible for the company's key strategic areas, while identifying and delivering key projects and priorities. Between
May 2011 and May 2017, Mr. Pascucci worked as the Chief Growth Officer and the VP of Business Development at Pabst Brewing Company. Mr.
Pascucci has bachelors in arts from St. Joseph's University, Philadelphia.

 David
Long, Director, has served as one of our directors since March 2024. Mr. Long has over 20 years of experience in leading and
increasing growth for companies in the fitness and wellness industries. Since January 2010 Mr. Long has served as the CEO and the Co-Founder
of Orangetheory Fitness Corporate. From June 2008 to June 2007 Mr. Long served as the Developer and Owner of European Wax Center. Mr.
Long has a Bachelor's degree in Health Science, Physical Therapy, and International Business from University of Florida and an
MBA from University of Florida

 David
Sandler, Chief Operating Officer, has more than 30 years' experience in the nutrition and health industry developing, building
and managing high-growth, results-oriented projects. David is the founder of StrengthPro Inc., a consulting firm specializing specific
areas of health, fitness, nutrition, and supplement ratio. David has been working as the president of Strengthpro since January 2021.
Since May 2019 David has been serving as chief operations officer at Elite Beverage. From October 2016 to October 2019, David served
as the chief operations officer at ProSupps USA, LLC.

 Term
of Office

 Our
Board is elected annually by our stockholders. Each director shall hold office until a successor is duly elected and qualified or until
his or her earlier death, resignation or removal.

 Family
Relationships

 There
are no family relationships among and between the issuer's directors, officers, persons nominated or chosen by the issuer to become
directors or officers, or beneficial owners of more than ten percent of any class of the issuer's equity securities.

 Section
16(a) Beneficial Ownership Reporting Compliance

 Section
16(a) of the Exchange Act requires our directors and officers, and the persons who beneficially own more than 10% of our Common Stock,
to file reports of ownership and changes in ownership with the SEC. Copies of all filed reports are required to be furnished to us pursuant
to Rule 16a-3 promulgated under the Exchange Act. Based solely on the reports received by us and on the representations of the reporting
persons, we believe that these persons have complied with all applicable filing requirements during the year ended December 31, 2024.

 Board
Composition

Independence

 Our
business and affairs are managed under the direction of our Board, which consist of six members. Under Nasdaq rules, independent directors
must comprise a majority of a listed company's board of directors, subject to certain exceptions. In addition, Nasdaq rules require
that each member of a listed company's audit, compensation and nominating and governance committees be independent, subject to
certain phase-ins for newly- public companies. Under Nasdaq rules, a director will only qualify as an "independent director"
if, in the opinion of that company's board of directors, that person does not have a relationship that would interfere with the
exercise of independent judgment in carrying out the responsibilities of a director.

 Audit
committee members must also satisfy the independence criteria set forth in Rule 10A-3 under the Exchange Act. In order to be considered
independent for purposes of Rule 10A-3, a member of an audit committee may not, other than in his or her capacity as a member of the
audit committee, the board of directors, or any other board committee (1) accept, directly or indirectly, any consulting, advisory, or
other compensatory fee from the listed company or any of its subsidiaries or (2) be an affiliated person of the listed company or any
of its subsidiaries.

 Our
Board has undertaken a review of its composition, the composition of its committees and the independence of each director. Based upon
information requested from and provided by each director concerning his or her background, employment and affiliations, including family
relationships, our Board has determined that Messrs. Melton, Pascucci, and Long do not have any relationships that would interfere with
the exercise of independent judgment in carrying out the responsibilities of a director and that each of these directors is "independent"
as that term is defined under the applicable rules and regulations of the SEC and the listing requirements and rules of Nasdaq. In making
this determination, our Board considered the current and prior relationships that each non-employee director has with our company and
all other facts and circumstances our Board deemed relevant in determining their independence, including the beneficial ownership of
our capital stock by each non-employee director.

 In
making this determination, our Board considered the current and prior relationships that each non-employee director has with us and all
other facts and circumstances our Board deemed relevant in determining their independence, including the beneficial ownership of our
capital stock by each non- employee director.

 Board
Diversity

 The
table below provides certain information regarding the diversity of our board of directors as the date of this annual report.

 Board
 Diversity Matrix

 Country
 of Principal Executive Offices:

 United
 States

 Foreign
 Private Issuer

 No

 Disclosure
 Prohibited under Home Country Law

 N/A

 Total
 Number of Directors

 Female

 Male

 Non-Binary

 Did
 Not Disclose Gender

 Part
 I: Gender Identity

 Directors

 Part
 II: Demographic Background

 Underrepresented
 Individual in Home Country Jurisdiction

 N/A

 LGBTQ+

 Did
 Not Disclose Demographic Background

 Our
Board seeks members from diverse professional backgrounds who combine a solid professional reputation and knowledge of our business and
industry with a reputation for integrity. Our Board does not have a formal policy concerning diversity and inclusion but is in the process
of establishing a policy on diversity. Diversity of experience, expertise, and viewpoints is one of many factors the Nominating and Corporate
Governance Committee considers when recommending director nominees to our Board. Further, our Board is committed to actively seeking
highly qualified women and individuals from minority groups and the LGBTQ+ community to include in the pool from which new candidates
are selected. Our Board also seeks members that have experience in positions with a high degree of responsibility or are, or have been,
leaders in the companies or institutions with which they are, or were, affiliated, but may seek other members with different backgrounds,
based upon the contributions they can make to our Company. While the Board has continued its efforts to identify candidates that have
such experience, they have currently been unable to identify any such candidates which fulfill the diversity requirement with the requisite
professional experience.

 Board
Committees

 Our
Board has established Audit, Compensation, and Nominating and Corporative Governance Committees. Our Board may establish other committees
to facilitate the management of our business. The composition and functions of the audit committee, compensation committee and nominating
and corporate governance committee are described below. Members will serve on committees until their resignation or removal from the
Board or until otherwise determined by our Board.

 Audit
Committee

 Our
audit committee consists of Messrs. Melton, Pascucci and Long, with Mr. Melton serving as the chairman. Our Board has determined that
Mr. Melton is an "audit committee financial expert" within the meaning of the SEC regulations. Our Board has also determined
that each member of our audit committee can read and understand fundamental financial statements in accordance with applicable requirements.
In arriving at these determinations, the Board has examined each audit committee member's scope of experience and the nature of
their employment in the corporate finance sector. The functions of this committee include:

 selecting
 a qualified firm to serve as the independent registered public accounting firm to audit our
 financial statements;

 helping
 to ensure the independence and performance of the independent registered public accounting
 firm;

 discussing
 the scope and results of the audit with the independent registered public accounting firm,
 and reviewing, with management and the independent accountants, our interim and year-end
 operating results;

 developing
 procedures for employees to submit concerns anonymously about questionable accounting or
 audit matters;

 our policies on risk assessment and risk management;

related party transactions; obtaining and reviewing a report by the independent registered public accounting firm at least
annually, that describes our internal quality-control procedures, any material issues with such procedures, and any steps taken to deal
with such issues when required by applicable law; and

 approving
 (or, as permitted, pre-approving) all audit and all permissible non-audit services, other
 than de minimis non-audit services, to be performed by the independent registered public
 accounting firm.

 Compensation
Committee

 Our
compensation committee consists of Messrs. Melton, Pascucci and Long with Mr. Long serving as the chairman. The functions of the compensation
committee will include:

 and approving, or recommending that our Board approve, the compensation of our executive
 officers;

 and recommending that our Board approve the compensation of our directors;

 and approving, or recommending that our Board approve, the terms of compensatory arrangements
 with our executive officers;

 administering
 our stock and equity incentive plans;

 selecting
 independent compensation consultants and assessing conflict of interest compensation advisers;

 and approving, or recommending that our Board approve, incentive compensation and equity
 plans; and

 and establishing general policies relating to compensation and benefits of our employees
 and reviewing our overall compensation philosophy.

 Nominating
and Corporate Governance Committee

 Our
nominating and corporate governance committee consists of Messrs. Melton, Pascucci and Long with Mr. Pascucci serving as the chairman.
The functions of the nominating and governance committee will include:

 identifying
 and recommending candidates for membership on our Board;

 including
 nominees recommended by stockholders;

 and recommending the composition of our committees;

 overseeing
 our code of business conduct and ethics, corporate governance guidelines and reporting; and

 making
 recommendations to our Board concerning governance matters.

 The
nominating and corporate governance committee also annually reviews the nominating and corporate governance committee charter and the
committee's performance.

 Board
Leadership Structure and Role in Risk Oversight

 Our
Board is primarily responsible for overseeing our risk management processes. Our Board receives and reviews periodic reports from management,
auditors, legal counsel, and others, as considered appropriate regarding our assessment of risks. Our Board focuses on the most significant
risks we face our general risk management strategy, and also ensures that risks we undertake are consistent with our Board's appetite
for risk. While our Board oversees our risk management, management is responsible for day-to-day risk management processes. We believe
this division of responsibilities is the most effective approach for addressing the risks we face and that our Board leadership structure
supports this approach.

 Our
amended and restated bylaws provide our Board with flexibility in its discretion to combine or separate the positions of Chairman of
the Board and Chief Executive Officer. The Board currently separates the roles of Chief Executive Officer and Chairman of the Board in
recognition of the differences between the two roles. Our Chief Executive Officer, who is also a member of our Board, is responsible
for setting the strategic direction of the Company and the day-to-day leadership and performance of the Company, while the Chairman of
the Board provides guidance to the Chief Executive Officer, sets the agenda for the Board meetings, presides over meetings of the Board
and tries to reach a consensus on Board decisions. Although these roles are currently separate, the Board believes it should be able
to freely select the Chairman of the Board based on criteria that it deems to be in the best interest of the Company and its stockholders,
and therefore one person may, in the future, serve as both the Chief Executive Officer and Chairman of the Board.

 Clawback
Policy

 On
December 1, 2023, the Board adopted the Safety Shot, inc. Clawback Policy (the "Clawback Policy"), effective December 1,
2023, providing for the recovery of certain incentive-based compensation from current and former executive officers of the Company in
the event the Company is required to restate any of its financial statements filed with the SEC under the Exchange Act in order to correct
an error that is material to the previously-issued financial statements, or that would result in a material misstatement if the error
were corrected in the current period or left uncorrected in the current period. A copy of the Clawback Policy has been filed herewith,
as exhibit 99.1.

 Insider
Trading Policies

 We
have adopted an insider trading policy governing the purchase, sale, and other dispositions of our securities by directors, senior management,
and employees. A copy of the Insider Trading Policy has been filed herewith, as exhibit 19.1.

 Code
of Ethics

 We
have adopted a code of ethics and conduct applicable to all of our directors, officers, employees and all persons performing similar
functions. A copy of that code is attached as Exhibit 14.1 to the Registration Statement of which this prospectus forms a part thereof.
We expect that any amendments to the code, or any waivers of its requirements, will be disclosed in our public filings with the Commission.

 Corporate
Governance Guidelines

 We
have adopted a corporate governance guidelines that serve as a flexible framework within which our Board and its committees operate.
These guidelines cover a number of areas including the size and composition of the Board, Board membership criteria and director qualifications,
director responsibilities, Board agenda, roles of the chairman of the Board and Chief Executive Officer and Chief Financial Officer,
meetings of independent directors, committee responsibilities and assignments, Board member access to management and independent advisors,
director communications with third parties, director compensation, director orientation and continuing education, evaluation of senior
management and management succession planning. A copy of our corporate governance guidelines is attached hereto as Exhibit 14.2 to the
Registration Statement of which this prospectus forms a part thereof.

 Involvement
in Certain Legal Proceedings

 To
our knowledge, our directors and executive officers have not been involved in any of the following events during the past ten years:

 1.
any bankruptcy petition filed by or against such person or any business of which such person was a general partner or executive
officer either at the time of the bankruptcy or within two years prior to that time;

 2.
any conviction in a criminal proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other
minor offenses);

 3.
being subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent
jurisdiction, permanently or temporarily enjoining him from or otherwise limiting his involvement in any type of business,
securities or banking activities or to be associated with any person practicing in banking or securities activities;

 4.
being found by a court of competent jurisdiction in a civil action, the SEC or the Commodity Futures Trading Commission to have
violated a Federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated;

 5.
being subject of, or a party to, any Federal or state judicial or administrative order, judgment decree, or finding, not
subsequently reversed, suspended or vacated, relating to an alleged violation of any Federal or state securities or commodities law
or regulation, any law or regulation respecting financial institutions or insurance companies, or any law or regulation prohibiting
mail or wire fraud or fraud in connection with any business entity; or

 6.
being subject of or party to any sanction or order, not subsequently reversed, suspended, or vacated, of any self-regulatory
organization, any registered entity or any equivalent exchange, association, entity or organization that has disciplinary authority
over its members or persons associated with a member.

 Section
16(a) Beneficial Ownership Compliance

 Based
solely upon a review of copies of such forms filed on Forms 3, 4 and 5, and amendments thereto furnished to us, we believe that as of
the date of this Report, our executive officers, directors and greater than 10 percent beneficial owners have complied on a timely basis
with all Section 16(a) filing requirements, except Messrs. David Long, Richard Pascucci, Danielle De Rosa and David Sandler did not file
Form 3s upon their employment or appointment to the Board and the Company, as applicable.

 ITEM
11. EXECUTIVE COMPENSATION

 Our
principal executive officer and our two other most highly compensated executive officers during the fiscal years indicated below.

 Current Officers and Directors

 Name and Principal Position

 Year

 Salary

 ($)

 Bonus

 ($)

 Stock Awards

 ($)

 Option Awards

 ($)

 All Other Compensation

 ($)

 Total Compensation

 ($)

 Jarrett Boon (1)(5)

 Chief Executive Officer

 2024

 $
 150,000

 $

 $
 -

 $
 1,504,454

 $

 $
 1,679,454

 Jordan Schur (2)

 President

 2024

 $
 245,000

 $
 -

 $
 810,833-

 $
 -

 $
 -

 $
 1,055,833

 John Gulyas (3)(5)

 Chairman of the Board

 2024

 $
 -

 $
 -

 $
 -

 $
 1,504,454

 $

 $
 1,529,454

 Danielle DeRosa (4)

 Chief Financial Officer

 2024

 $
 145,833

 $
 -

 $
 -

 $
 214,814

 $
 -

 $
 360,647

 David Sandler (8)

 Chief Operating Officer

 2024

 $

 $

 $

 $

 $

 $

 1.
 Mr.
 Boon has served as Chief Executive Officer since February 2024 and served as a Director since
 October 2023.

 2.
 Mr.
 Schur has served as President and Director since March 2024.

 3.
 Mr.
 Gulyas has served as a Director since July 2023.

 4.
 Ms.
 DeRosa has served as Chief Financial Officer since April 2024.

 5.
 Mr.
 Boon and Mr. Gulyas were each paid $25,000 in Director fees during 2024.

 6.
 Option
 Rewards represents the fair value of the options granted during the period calculated using
 the Black-Scholes formula.

 7.
 Stock
 Awards are valued using the market price on the date of grant.

 8.
 Mr. Sandler has served as Chief Operating Officer since March 2024.

 Former Officers and Directors
Name and Principal Position

 Year

 Salary ($)

 Bonus ($)

 Stock Awards ($)

 Option Awards ($)

 All Other Compensation ($) (4)

 Total Compensation ($)

 Brian S. John (1)(3)

 Former Chief Executive Officer

 2023

 $
 293,958

 $
 159,000

 $
 -

 $

 $

 $
 477,958

 Dr. Glynn Wilson (2)

 Former Chairman of the Board and Chief Science Officer

 2023

 $
 179,375

 $
 -

 $
 -

 $

 $

 $
 204375

 Markita Russell

 -

 -

 -

 -

 -

 Former Chief Financial Officer

 2023

 $
 93,750

 $
 -

 $
 -

 $
 -

 $
 -

 $
 93,750

 1.
 Mr.
 John was appointed as Chief Executive Officer on October 28, 2018 and resigned from his position
 on February 28, 2024.

 2.
 Dr.
 Wilson was appointed as a director in November 2018 and as Chairman on October 15, 2019 and
 resigned from his position on February 28, 2024.

 3.
 Mr.
 John's employment agreement called for a bonus on investments made by the Company.
 In 2023, Mr. John received 267,500 shares of restricted Chijet Motor Company common stock
 from the Company's SPAC transaction and 500,000 restricted shares of SRM Entertainment
 Inc. related to the sale of SRM Entertainment Ltd.

 4.
 Mr.
 John and Dr. Wilson were each paid $25,000 in Director fees during 2023.

 Employment
Agreements with Named Officers

 John
Gulyas Employment Agreement

 On
December 16, 2024, the Company entered into an employment agreement ("Gulyas Agreement") with John Gulyas, pursuant to which
Mr. Gulyas will serve as the Company's Executive Chairman of the Board of Directors. The Agreement provides for (A) a $300,000
annual base salary paid in equal installments on the Company's regular pay dates no less frequently than bi-monthly, (B) a restricted
stock award of 1,000,000 shares of Company's common stock fully vested as of the date therein, an incentive bonus of $100,000 and
500,000 restricted shares of Company's common stock if the Company achieves a combined revenue of $500,000 for Q1 and Q2 of 2025,
(D) an incentive bonus of $100,000 and 500,000 restricted shares of Company's common stock if the Company achieves a combined revenue
of $1,000,000 for Q3 and Q4 of 2025, and (E) other customary employee benefits. On or about March 3, 2025, the Company amended the Gulyas
Agreement by changing Section 5. b. to read, Restricted Stock. As part of his employment, Employee shall receive a grant of 1,000,000
shares of Company restricted common stock (the "RSUs") as compensation for work performed in 2025 and 2026. The 1,000,000
RSUs will start vesting on April 1, 2025, in quarterly increments over the following year as follows: 250,000 will vest on July 1, 2025;
250,000 will vest on October 1, 2025; 250,000 will vest on January 1, 2026, and 250,000 will vest on April 1, 2026.

 The
Gulyas Agreement is filed herein as Exhibit 10.44.

 Jordon
Schur Employment Agreement

 On
December 16, 2024, the Company entered into an employment agreement with Jordon Schur (the "Schur Agreement"), pursuant to
which Mr. Schur will serve as the Company's President. The Agreement provides for (A) a $300,000 annual base salary paid in equal
installments on the Company's regular pay dates no less frequently than bi-monthly, (B) a restricted stock award of 1,000,000 shares
of Company's common stock fully vested as of the date therein, (C) an incentive bonus of $100,000 and 500,000 restricted shares
of Company's common stock if the Company achieves a combined revenue of $500,000 for Q1 and Q2 of 2025, (D) an incentive bonus
of $100,000 and 500,000 restricted shares of Company's common stock if the Company achieves a combined revenue of $1,000,000 for
Q3 and Q4 of 2025, and (E) other customary employee benefits. On or about March 3, 2025, the Company amended the Schur Agreement by changing
Section 5. b. to read, Restricted Stock. As part of his employment, Employee shall receive a grant of 1,000,000 shares of Company
restricted common stock (the "RSUs") as compensation for work performed in 2025 and 2026. The 1,000,000 RSUs will start vesting
on April 1, 2025, in quarterly increments over the following year as follows: 250,000 will vest on July 1, 2025; 250,000 will vest on
October 1, 2025; 250,000 will vest on January 1, 2026, and 250,000 will vest on April 1, 2026.

 The
Schur Agreement is filed as Exhibit 10.45.

 Jarrett
Boon Employment Agreement

 On
December 16, 2024, the Company entered into an employment agreement with Jarrett Boon (the "Boon Agreement"), pursuant to
which Mr. Boon will serve as the Company's Chief Executive Officer.

 The
Boon Agreement provides for (A) a $300,000 annual base salary paid in equal installments on the Company's regular pay dates no
less frequently than bi-monthly, (B) a restricted stock award of 1,000,000 shares of Company's common stock fully vested as of
the date therein, (C) an incentive bonus of $100,000 and 500,000 restricted shares of Company's common stock if the Company achieves
a combined revenue of $500,000 for Q1 and Q2 of 2025, (D) an incentive bonus of $100,000 and 500,000 restricted shares of Company's
common stock if the Company achieves a combined revenue of $1,000,000 for Q3 and Q4 of 2025, and (E) other customary employee benefits.
On or about March 3, 2025, the Company amended the Boon Agreement by changing Section 5. b. to read, Restricted Stock. As part
of his employment, Employee shall receive a grant of 1,000,000 shares of Company restricted common stock (the "RSUs") as
compensation for work performed in 2025 and 2026. The 1,000,000 RSUs will start vesting on April 1, 2025, in quarterly increments over
the following year as follows: 250,000 will vest on July 1, 2025; 250,000 will vest on October 1, 2025; 250,000 will vest on January
1, 2026, and 250,000 will vest on April 1, 2026.

 The
Boon Agreement is filed as Exhibit 10.46.

 Danielle
DeRosa Employment Agreement

 On
April 22, 2024, the Company entered into an employment agreement with Danielle DeRosa (the "DeRosa Employment Agreement"),
pursuant to which Ms. DeRosa will serve as the Company's Chief Financial Officer. As consideration for her services, the Company
will pay Ms. DeRosa a salary of $250,000 per annum, which salary is payable bi-monthly. Subject to suitable business conditions, Ms. DeRosa
may receive a 5% pay increase payable to her at each one-year anniversary from the commencement of the DeRosa Employment Agreement.
The Company will also award 200,000 stock options to Ms. DeRosa, granted at a strike price equal to the closing market price on the date
that Ms. DeRosa first starts to work for the Company as an independent consultant. These stock options will vest on a quarterly basis,
in equal installments over three years. The stock options will terminate on the fifth-year anniversary of their date of issuance.

 The
DeRosa Employment Agreement is filed as Exhibit 10.47.

 Employment
Agreements with Senior Management

 Stock
Incentive Plan

 On
January 17, 2024, the Board of Directors adopted the 2024 Equity Incentive Plan (the "2024 Plan"), an omnibus equity incentive
plan pursuant to which the Company may grant equity-linked awards to officers, directors, consultants and others and on July 31, 2024,
the Shareholders ratified the 2024 Plan.. The 2024 Equity Incentive Plan was adopted as a means to offer incentives and attract, motivate
and retain and reward persons eligible to participate in the 2024 Plan.

 Summary
of 2024 Equity Incentive Plan

 Administration.

 The
Board of Directors has the sole authority to grant options or restricted stock. The authority to manage the operation of and administer
the Plan shall be vested in the Compensation Committee. The Committee shall consist of two or more directors who are (i) "Independent
Directors" (as such term is defined under the rules of the NASDAQ Stock Market) and (ii) "Non-Employee Directors" (as
such term is defined in Rule 16b-3), which shall serve at the pleasure of the Board. The Board or the Committee administering the plan
shall have full power and authority to designate recipients of options and restricted stock, and to determine the terms and conditions
of the respective option and restricted stock agreements (which need not be identical) and to interpret the provisions and supervise
the administration of the Plan.

 Eligibility.

 The
persons eligible for participation in the 2024 Equity Incentive Plan as recipients of options or restricted stock shall include directors,
officers and employees of, and consultants and advisors to, the Company or any Subsidiary; provided that incentive options may only be
granted to employees of the Company and any Subsidiary.

 Awards.

 A
maximum of 15,000,000 shares of the Company's common stock, par value $0.001 per share shall be subject to the Plan. The shares
of common stock subject to the Plan shall consist of unissued shares, treasury shares or previously issued shares held by any Subsidiary
of the Company, and such number of shares of common stock shall be and is hereby reserved for such purpose.

 Options.

 The
purchase price of each share of common stock purchasable under an incentive option shall be determined by the Committee at the time of
grant but shall not be less than 100% of the Fair Market Value of such share of common stock on the date the option is granted.

 The
term of each option shall be fixed by the Committee, but no option shall be exercisable more than ten years after the date such option
is granted and in the case of an incentive option granted to an optionee who, at the time such incentive option is granted, owns (within
the meaning of Section 424(d) of the code) more than 10% of the total combined voting power of all classes of stock of the company or
of any subsidiary, no such incentive option shall be exercisable more than five years after the date such incentive option is granted

 Change
of Control.

 Upon
the occurrence of a change in control the Committee may accelerate the vesting of outstanding restricted stock, in whole or in part,
as determined by the Committee, in its sole discretion.

 Outstanding
Equity Awards at Fiscal Year-End

 The
were no equity awards outstanding as of December 31,2024.

Compensation

 The following table sets forth the
amounts paid to Directors during the years ended December 31, 2024 and 2023.

 Directors

 2024

 2023

 John Gulyas

 $

 -

 Jarrett Boon

 $

 -

 Jordan Schur

 $

 -

 Richard Pascucci

 $

 -

 Christopher Marc Melton

 $

 -

 David J. Long

 $

 -

 Brian John (former)

 $

 Dr. Skender Fani (former)

 $

 Glynn Wilson (former)

 $

 Hector Alila (former)

 $

 Nancy Torres (former)

 $

 Christopher Melton

 $

 Gary Herman (former)

 $

 $
 175,000

 Agreements with Directors

 Chris
Melton

 On
July 29, 2019 (the "Melton Execution Date"), we entered into an independent director's agreement with Christopher Melton,
pursuant to which Mr. Melton shall serve as one of our directors and our Audit Committee Chairperson (the "Melton Agreement").
Pursuant to the Melton Agreement, we shall pay Mr. Melton $1,000 per quarter, per annum. Additionally, we shall issue to Mr. Melton an
option to purchase 33,000 shares of our common stock on the Melton Execution Date and for each additional year Mr. Melton serves as a
director (the "Melton Options"). The Melton Options shall have a three (3) year term and an exercise price of $0.25 per share
and shall be issued on each anniversary date of his election.

 David J. Long

 On
March 11, 2024 (the "Long Execution Date"), we entered into an independent director's agreement with David Long, pursuant
to which Mr. Long shall serve as one of our directors and our Audit Committee, Compensation Committee, and Nominating Committee (the
"Long Agreement"). Pursuant to the Long Agreement, we shall pay Mr. Long $25,000 per annum. Additionally, we shall issue
to Mr. Long an option to purchase 50,000 shares of our common stock on the Long Execution Date and for each additional year Mr. Long
serves as a director (the "Long Options"). The Long Options shall have a three (3) year term and an exercise price equal
to the market price per share of the Company common stock as of the date of the Long Agreement and shall be issued on each anniversary
date of his election.

 Richard
Pascucci

 On
December 5, 2023 (the "Pascucci Execution Date"), we entered into an independent director's agreement with Richard Pascucci,
pursuant to which Mr. Pascucci shall serve as one of our directors and our Audit Committee, Compensation Committee, and Nominating Committee
(the "Pascucci Agreement"). Pursuant to the Pascucci Agreement, we shall pay Mr. Pascucci $25,000 per annum. Additionally,
we shall issue to Mr. Pascucci an option to purchase 50,000 shares of our common stock on the Pascucci Execution Date and for each additional
year Mr. Pascucci serves as a director (the "Pascucci Options"). The Pascucci Options shall have a three (3) year term and
an exercise price equal to the market price per share of the Company common stock as of the date of the Pascucci Agreement and shall be issued
on each anniversary date of his election.

 On
March 7, 2024, the Company entered into a director's agreement with Mr. Schur (the "Schur Agreement"). Pursuant to
the Schur Agreement, Mr. Schur is entitled to an annual salary of $25,000 per-annum, payable bi-monthly, and option to purchase 50,000
shares of common stock for each year he serves as a member of the Board, with an exercise price of the current market price of the Company's
common stock at time of issuance. The options shall expire 3 years after the date of issuance and shall be subject to the terms and conditions
of the stock award agreement to be entered into by and between the Company and Mr. Schur.

 ITEM
12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

 The
following table sets forth certain information with respect to the beneficial ownership of our voting securities by (i) any person or
group beneficially owning more than 5% of any class of voting securities; (ii) our directors, and; (iii) each of our named executive
officers; and (iv) all executive officers and directors as a group as of March xx, 2025. The information presented below regarding beneficial
ownership of our voting securities has been presented in accordance with the rules of the Securities and Exchange Commission and is not
necessarily indicative of ownership for any other purpose. Under these rules, a person is deemed to be a "beneficial owner"
of a security if that person has or shares the power to vote or direct the voting of the security or the power to dispose or direct the
disposition of the security. A person is deemed to own beneficially any security as to which such person has the right to acquire sole
or shared voting or investment power within 60 days through the conversion or exercise of any convertible security, warrant, option or
other right. More than one person may be deemed to be a beneficial owner of the same securities. Unless otherwise indicated, the address
of all listed stockholders is c/o Safety Shot, Inc., 1061 E. Indiantown Rd., Ste. 110, Jupiter, FL 33477.

 The beneficial ownership
of shares of common stock is calculated based on 86,683,391 shares of common stock, which includes 12,268,507 shares of Common Stock issued
and outstanding, stock options of 8,861,000 held by beneficial owners and warrants of 3,370,787 held by a beneficial owner as of March
25, 2025.

 Unless otherwise noted in the footnotes to the following
table, and subject to applicable community property laws, the persons and entities named in the table have sole voting and investment
power with respect to their beneficially owned Common Stock.

 Name
 of Beneficial Owner

 of Common Stock Beneficially Owned

 %
 of Shares of Common Stock Beneficially Owned

 Directors
 and Officers:

 Jordan
 Schur(1)

 1,550,000

 1.79
 %

 Danielle
 De Rosa (2)
Chief Financial Officer

 200,000

 0.23
 %

 Jarrett
 Boon (3)
Chief Executive Officer

 4,917,000

 5.67
 %

 John
 Gulyas (4)
Chairman and Director

 4,867,667

 5.62
 %

 Richard
 Pascucci (5)

 120,000

 0.14
 %

 Christopher
 Melton (6)

 141,000

 0.16
 %

 David
 J. Long(7)

 150,000

 0.17
 %

 David
 Sandler(8)
Chief Operating Officer

 750,000

 0.87
 %

 All
 officers and directors (9 persons)

 12,695,667

 14.65
 %

 (1)
 Includes 1,050,000 shares issuable upon
 exercise of options.

 (2)
 Includes 200,000 shares issuable upon exercise
 of options.

 (3)
 Includes 3,250,000 shares issuable upon
 exercise of options.

 (4)
 Includes 3,200,000 shares issuable upon
 exercise of options.

 (5)
 Includes 120,000 shares issuable upon exercise
 of options.

 (6)
 Includes 141,000 shares issuable upon exercise
 of options.

 (7)
 Includes 150,000 shares issuable upon exercise
 of options

 (8)
 Includes
 750,000 shares issuable upon exercise of options

 ITEM
13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

 At
December 31, 2022, the Company had invested $2,908,300 in Jupiter Wellness Sponsor LLC ("JWSL"), a limited liability company
formed for the purpose of sponsorship of Jupiter Wellness Acquisition Corp. ("JWAC"), a special purpose acquisition company
("SPAC") and a unconsolidated subsidiary. Mr. Brian John, our CEO, was the managing member of JWSL and Chief Executive Officer
of JWAC.

 JWAC
filed a Current Report on Form 8-K filed with the Securities Exchange Commission on May 2, 2023. JWAC's stockholders approved JWAC's
business combination with Chijet Inc. and its affiliates including Chijet Motor Company Inc. (collectively "Chijet"), at
its Special Meeting of Stockholders held on May 2, 2023 and closed the transaction on June 1, 2023. As a result, on June 27, 2023, the
Company received a total of 1,662,434 shares of restricted common stock of Chijet (Nasdaq: CJET) in exchange for its Loans. In August
2023, the Company receive 96,000 additional shares ChiJet due to downside protection clauses in the business combination agreements.

 In
May 2023, the Company purchased 48,000 shares of JWAC (now Chijet) common stock for $508,800 and in September and October 2023, the Company
purchased an additional 18,200 shares for $36,330.

 During the year ended December 31,
2023 the Company sold 271,679 ChiJet shares for a realized gain of $238,839.

 At
December 31, 2023 the Company, the Company held 1,200,821 common shares of Chijet (the "CJET Shares") are considered trading
securities and are categorized as marketable securities on the balance sheet. At December 31, 2023 the CJET Shares had a combined fair
market value of $842,976 had a combined unrealized loss of $1,511,488 which is included in other income.

 On
December 9, 2022, The Company entered into a stock exchange agreement (the "Exchange Agreement") with SRM Entertainment,
Inc. ("SRM") to govern the separation of SRM from the Company. On May 26, 2023, we amended and restated the Exchange Agreement
(the "Amended and Restated Exchange Agreement") to include additional information regarding the distribution and the separation
of SRM the Company. The separation as set forth in the Amended and Restated Exchange Agreement with Jupiter closed August 14, 2023. Pursuant
to the Amended and Restated Exchange Agreement, on May 31, 2023, SRM issued to the Company 6,500,000 shares of SRM Common Stock (representing
79.3% of SRM's outstanding shares of Common Stock) in exchange for 2 ordinary shares of SRM Ltd owned by the Company (representing
all of the issued and outstanding ordinary shares of SRM) (the "Share Exchange"). On August 14, 2023, SRM consummated its
Initial Public Offering ("IPO"), pursuant to which it sold 1,250,000 shares of its common stock at a price of $5.00 per share.
In connection with the Share Exchange and SRM's IPO, the Company distributed 2,000,000 shares of SRM's common stock to the
Company's stockholders and certain warrant holders (out of the 6.5 million shares issued in May 2023) which occurred on the effective
date of the Registration Statement but prior to the closing of the IPO. Following such distribution, the Company owns 4.5 million of
the 9,450,000 shares of common stock outstanding and SRM is now a minority owned subsidiary of the Company. SRM.

 At
December 31, 2022, the Company had an outstanding unsecured, non-interest bearing loan receivable balance of $1,482,673 from SRM Entertainment,
Ltd, its wholly owned subsidiary. On September 1, 2022, the loan was converted to a six percent (6%) interest-bearing promissory note
(the "Note") due on the earlier of: (i) September 30, 2023 or (ii) the date on which the Company consummates an initial public
offering of its securities. During the nine months ended September 30, 2023, the Company accrued $55,847 interest expense on the Note.
The total balance of $1,538,520 ($1,482,673 note and $55,847 interest) due Jupiter was paid from proceeds SRM's Initial Public
Offering ("IPO") on August 14, 2023.

 ITEM
14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

 Audit
Fees totaling $65,000 and $90,000 were paid to M&K CPAS during the year ended December 31, 2024 and 2023, respectively.

 No
other fees were paid to M&K CPAS.

 PART
IV

 ITEM
15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES

 EXHIBIT

 Exhibit No.

 Description

 (a)

 Exhibits.

 1.1

 Form
 of Underwriting Agreement, incorporated by reference to Exhibit 1.1 of the Company's Registration Statement filed with the
 SEC on June 17, 2020.

 3.1

 Amended
 and Restated Certificate of Incorporation, incorporated herein by reference to Exhibit 2.1 to Jupiter Wellness, Inc.'s Form
 1-A filed with the Securities and Exchange Commission on June 21, 2019.

 3.2

 Bylaws,
 incorporated herein by reference to Exhibit 2.2 to Jupiter Wellness, Inc.'s Form 1-A filed with the Securities and Exchange
 Commission on June 21, 2019.

 3.3

 Amended
 and Restated Bylaws, incorporated by reference to Exhibit 3.3 of the Company's Registration Statement filed with the SEC on
 July 14, 2020.

 3.4

 Certificate
 of Amendment of Certificate of Incorporation, incorporated by reference to Exhibit 3.4 of the Company's Registration Statement
 filed with the SEC on June 17, 2020.

 3.5

 Second
 Amended and Restated Certificate of Incorporation, incorporated by reference to Exhibit 3.5 of the Company's Registration
 Statement filed with the SEC on June 17, 2020.

 4.1

 Common
 Stock Purchase Warrant, incorporated by reference to Exhibit 4.1 of the Company's Registration Statement filed with the SEC
 on July 14, 2020.

 4.2

 Representative's
 Warrant, incorporated by reference to Exhibit 4.2 of the Company's Registration Statement filed with the SEC on June 17, 2020.

 4.3

 Form
 of Warrant included in Unit, incorporated by reference to Exhibit 4.3 of the Company's Registration Statement filed with the
 SEC on June 17, 2020.

 4.4

 Form
 of Warrant Agent Agreement, incorporated by reference to Exhibit 4.4 of the Company's Registration Statement filed with the
 SEC on June 17, 2020.

 10.1

 Common
 Stock and Warrant Subscription Agreement, incorporated by reference to Exhibit 10.1 of the Company's Registration Statement
 filed with the SEC on July 14, 2020.

 10.2

 Independent
 Director's Contract between the Company and Dr. Hector Alila, dated February 25, 2019, incorporated by reference to Exhibit
 10.2 of the Company's Registration Statement filed with the SEC on July 14, 2020.

 10.3

 Independent
 Director's Contract between the Company and Timothy G. Gly nn, dated March 13, 2019, incorporated by reference to Exhibit 10.3
 of the Company's Registration Statement filed with the SEC on July 14, 2020.

 10.4

 Independent
 Director's Contract between the Company and Christopher Melton, dated July 29, 2019, incorporated by reference to Exhibit 10.4
 of the Company's Registration Statement filed with the SEC on July 14, 2020).

 10.5

 Employment
 Agreement with Douglas O. McKinnon, dated August 5, 2019, incorporated by reference to Exhibit 10.5 of the Company's Registration
 Statement filed with the SEC on July 14, 2020).

 10.6

 Form
 of Regulation A Subscription Agreement, incorporated herein by reference to Exhibit 4.1 to Jupiter Wellness, Inc.'s Form 1-A/A
 filed with the Securities and Exchange Commission on August 19, 2019.

 10.7

 Employment
 Agreement with Dr. Gly nn Wilson, dated October 15, 2019, incorporated by reference to Exhibit 10.7 of the Company's Registration
 Statement filed with the SEC on July 14, 2020.

 10.8

 Employment Agreement with Brian John, dated February 1, 2020, incorporated
 by reference to Exhibit 10.8 of the Company's Registration Statement filed with the SEC on June 17, 2020.

 10.9

 Employment Agreement with Richard Miller, dated February 1, 2020, incorporated
 by reference to Exhibit 10.9 of the Company's Registration Statement filed with the SEC on June 17, 2020.

 10.10

 2020 Equity Incentive Plan, incorporated by reference to Exhibit 10.10
 of the Company's Registration Statement filed with the SEC on June 17, 2020.

 10.11

 Confidential Membership Interest Purchase Agreement dated February
 20, 2020 by and between Jupiter Wellness, Inc., Magical Beasts LLC. and Krista Whitley, incorporated by reference to Exhibit 10.11
 of the Company's Registration Statement filed with the SEC on June 17, 2020.

 10.12

 Sales Distribution Agreement dated February 20, 2020 between Jupiter
 Wellness Inc. and Ay ako Holdings, Inc., incorporated by reference to Exhibit 10.12 of the Company's Registration Statement
 filed with the SEC on June 17, 2020.

 10.13

 Distribution Agreement, dated November 5, 2020, incorporated by reference
 to the Company's Current Report on Form 8-K, filed with the SEC on November 9, 2020.

 10.14

 Endorsement Agreement, dated November 10, 2020, incorporated by reference
 to the Company's Current Report on Form 8-K, filed with the SEC on November 19, 2020.

 10.15

 Share Exchange Agreement, dated November 30, 2020, incorporated by
 reference to the Company's Current Report on Form 8-K, filed with the SEC on December 3, 2020.

 10.16

 Independent Director's Agreement, dated January 20, 2021, incorporated
 by reference to the Company's Current Report on Form 8-K, filed with the SEC on January 26, 2021.

 10.17

 Omnibus Amendment dated January 25, 2021, incorporated by reference
 to the Company's Current Report on Form 8-K, filed with the SEC on January 29, 2021.

 10.18

 First Amendment to Common Stock Option Agreement dated January 25,
 2021, incorporated by reference to the Company's Current Report on Form 8-K, filed with the SEC on January 29, 2021.

 10.19

 Employment Agreement dated as of January 20, 2021, incorporated by
 reference to the Company's Current Report on Form 8-K, filed with the SEC on February 3, 2021.

 10.20

 License and Purchase Agreement by and between Safety Shot Inc. and Elite Health Partners dated February 21, 2024, incorporated by reference to Exhibit 10.1 the Company's Current Report on Form 8-K, filed with the SEC on February 22, 2024.

 10.21

 Transition Advisory Agreement between the Company and Brian John dated March 1, 2024, incorporated by reference to Exhibit 10.1 on the Company's Current Report on Current Report Form 8-K, filed with the SEC on March 1, 2024.

 10.22

 Omnibus Agreement between the Company and Brian John and Dr. Glynn Wilson dated March 1, 2024, incorporated by reference to Exhibit 10.1 on the Company's Current Report on Current Report Form 8-K, filed with the SEC on March 1, 2024.

 10.23

 Director Agreement between the Company and Jordan Schur dated March 13, 2024, incorporated by reference to Exhibit 10.1 on Current Report Form 8-K, filed with the SEC on March 13, 2024.

 10.24

 Independent Director Agreement between the Company and David Long dated March 11, 2024, incorporated by reference to Exhibit 10.2 on Current Report Form 8-K, filed with the SEC on March 13, 2024.

 10.25

 Employment Agreement between the Company and Jordan Schur dated March 13, 2024, incorporated by reference to Exhibit 10.1 on Current Report Form 8-K, filed with the SEC on March 13, 2024.

 10.26

 Securities Purchase Agreement dated April 4, 2024, incorporated by reference to Exhibit 10.01 on Current Report Form 8-K, filed with the SEC on April 5, 2024.

 10.27

 Registration Rights Agreement dated April 4, 2024, incorporated by reference to Exhibit 10.02 on Current Report Form 8-K, filed with the SEC on April 5, 2024.

 10.28

 Employment Agreement between Danielle De Rosa and the Company dated April 22, 2025, incorporated by reference to Exhibit 10.1 on Current Report Form 8-K, filed with the SEC on April 26, 2024.

 10.29

 Option Agreement between Danielle De Rosa and the Company dated April 22, 2025, incorporated by reference to Exhibit 10.1 on Current Report Form 8-K, filed with the SEC on April 26, 2024.

 10.30

 Securities Purchase Agreement between the Company and Jordan Schur dated June 27, 2024, incorporated by reference to Exhibit 10.1 on Current Report Form 8-K, filed with the SEC on June 27, 2024.

 10.31

 Securities Purchase Agreement between the Company and Jordan Schur dated August 30, 2024, incorporated by reference to Exhibit 10.1 on Current Report Form 8-K, filed with the SEC on September 5, 2024.

 10.32

 Form of Common Stock Warrant, incorporated by reference to Exhibit 10.2 on Current Report Form 8-K, filed with the SEC on September 5, 2024.

 10.33

 Securities Purchase Agreement between the Company and an accredited investor dated September 24, 2024, incorporated by reference to Exhibit 10.1 on Current Report Form 8-K, filed with the SEC on September 24, 2024.

 10.34

 Consulting Agreement between the Company and Cor 4 Capital Corp., dated September 23, 2024, incorporated by reference to Exhibit 10.2 on Current Report Form 8-K, filed with the SEC on September 24, 2024.

 10.35

 Form of Separation and Exchange Agreement between the Company and Caring Brands, Inc. dated September 24, 2024, incorporated by reference to exhibit 10.3 of the Company's Current Report Form 8-K, filed with the SEC on September 24, 2024.

 10.36

 Equity Disbursement Agreement dated December 6, 2024, incorporated by reference to exhibit 10.1 of the Company's Current Report Form 8-K, filed with the SEC on September 24, 2024

 10.37

 Employment Agreement between the Company and John Gulyas incorporated by reference to exhibit 10.1 of the Company's Current Report Form 8-K, filed with the SEC on December 16, 2024

 10.38

 Employment Agreement between the Company and Jordan Schur incorporated by reference to exhibit 10.2 of the Company's Current Report Form 8-K, filed with the SEC on December 16, 2024

 10.39

 Employment Agreement between the Company and Jarrett Boon incorporated by reference to exhibit 10.3 of the Company's Current Report Form 8-K, filed with the SEC on December 16, 2024

 14.1

 Code of Ethics, incorporated by reference to Exhibit 14.1 of the Company's Registration Statement filed with the SEC on July 14, 2020.

 14.2

 Corporate Governance Guidelines, incorporated by reference to Exhibit
 14.2 of the Company's Registration Statement filed with the SEC on July 14, 2020.

 19.1*

 Insider Trading Policy

 21.1

 Subsidiaries of
 the Registrant

 23.1*

 Consent of M&K
 CPAS

 31.1*

 Certification of
 our Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 31.2*

 Certification of
 our Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 32.1*

 Certification of
 our Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section
 1350)

 32.2*

 Certification pursuant
 to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 99.1*

 Claw Back Policy

 *Filed herewith.

 SIGNATURES

 Pursuant
to the requirements of the Section 13 or 15 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized on the day of March 28, 2025.

 SAFETY SHOT, INC

 By:

 /s/ Jarrett Boon

 Jarrett Boon

 Chief Executive Officer and Director

 In
accordance with the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant
and in the capacities and on the dates indicated.

 Signature

 Title

 Date

 /s/ Jarrett Boon

 Director and Chief Executive Officer (principal executive officer)

 Jarrett Boon

 /s/ Danielle De Rosa

 Chief Financial Officer (principal financial and accounting officer)

 Danielle De Rosa

 /s/ David Sandler

 Chief Operating Officer

 David Sandler

 /s/ John Gulyas

 Chairman

 John Gulyas

 /s/ Christopher Marc Melton

 Christopher Marc Melton

 /s/ Jordan Schur

 Director and President

 Jordan Schur

 /s/ Richard Pascucci

 Richard Pascucci

 /s/ David Long

 David Long

 SAFETY
SHOT, INC.

TO FINANCIAL STATEMENTS

 Report of Independent Registered Public Accounting Firm (PCAOB ID: 2738)

 Consolidated Balance Sheets as of December 31, 2024 and 2023

 Consolidated Statements of Operations for the Years Ended December 31, 2024 and
 2023

 Consolidated Statements of Changes in Shareholders' Equity for the Years
 Ended December 31, 2024 and 2023

 Consolidated Statements of Cash Flows for the Years Ended December 31, 2024 and
 2023

 Notes to the Consolidated Financial Statements

 F- 1

 REPORT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM

 To the Board of Directors and

 Stockholders of Safety Shot, Inc.

 Opinion on the Consolidated Financial
Statements

 We have audited the accompanying consolidated balance sheets of Safety Shot, Inc. (the Company) as of December 31, 2024 and 2023, and the
related consolidated statements of operations, changes in shareholders' equity, and cash flows for the two-year period ended December
31, 2024, and the related notes (collectively referred to as the financial statements). In our opinion, the consolidated financial statements
present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its
consolidated operations and its cash flows for the two-year period ended December 31, 2024, in conformity with accounting principles generally
accepted in the United States of America.

 Going Concern

 The accompanying financial statements have been prepared
assuming that the Company will continue as a going concern. As discussed in the Note 1 to the financial statements, the Company has suffered
net losses from operations in current and prior periods and the Company has incurred and expects to continue to incur significant costs
in pursuit of its expansion and development plans, which raises substantial doubt about its ability to continue as a going concern. Management's
plans regarding those matters are discussed in the notes to the financial statements. The financial statements do not include any adjustments
that might result from the outcome of this uncertainty.

 Basis for Opinion

 These consolidated financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on the Company's consolidated financial statements
based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB)
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.

 We conducted our audits in accordance with the standards
of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated
financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we
engaged to perform, audits of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding
of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company's
internal control over financial reporting. Accordingly, we express no such opinion.

 Our audits included performing procedures to assess
the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the
consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by
management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide
a reasonable basis for our opinion.

 Critical Audits Matter

 The critical audit matter communicated
below are matter arising from the current period audits of the consolidated financial statements that were communicated or required
to be communicated to the audits committee and that: (1) relate to accounts or disclosures that are material to the consolidated
financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical
audit matter does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by
communicating he critical audits matter below, providing separate opinions on the critical audits matter or on the accounts or
disclosures to which they relate.

 Evaluation of Intangible Assets

 As discussed in Note 2 and 8 to the consolidated financial
statements, the Company acquired intangible assets through an asset purchase agreement in 2023. At each reporting period, certain intangible
assets are required to be assessed annually for impairment based on the facts and circumstances at that time. Auditing management's
evaluation of intangible assets can be a significant judgment given the fact that the Company uses management estimates on future revenues
and expenses which are not easily able to be substantiated.

 Given these factors and due to significant judgements
made by management, the related audit effort in evaluating management's judgments in evaluation of intangible assets required a
high degree of auditor judgment.

 The procedures performed included evaluation of the
methods and assumptions used by the Company, tests of the data used and an evaluation of the findings. We evaluated and tested the Company's
significant judgments that determine the impairment evaluation of intangible assets.

 /s/ M&K CPAS,
PLLC

 www.mkacpas.com

 We have served as the Company's
auditor since 2019.

 The Woodlands, Texas

 F- 2

 Safety Shot, Inc.

 Consolidated
Balance Sheets

 December 31, 2024 and
2023

 2024

 2023

 Assets

 Cash

 $
 348,816

 $
 3,833,349

 Marketable Securities

 54,720

 842,976

 Inventory

 233,510

 795,824

 Accounts and other receivables

 283,561

 5,585

 Prepaid expenses and deposits

 920,189

 1,469,733

 Investment in Yerbae Brands

 225,000

 -

 Investment in SRM & Affiliates

 3,000

 657,183

 Other current assets

 -

 86,174

 Note Receivable

 511,557

 -

 Total current assets

 2,580,353

 7,690,824

 Right of Use assets

 299,722

 479,027

 Intangible assets, net of amortization

 4,364,321

 4,511,057

 Fixed assets, net of depreciation

 94,007

 28,272

 Total assets

 $
 7,338,403

 $
 12,709,180

 Liabilities and Shareholders' Equity

 Accounts payable

 $
 2,218,810

 $
 1,493,809

 Convertible notes

 5,250,000

 1,500,000

 Current portion of lease liability

 212,964

 214,752

 Accrued expenses

 1,433,245

 269,152

 Accrued liabilities

 234,360

 60,450

 Covid-19 SBA Loan

 47,928

 48,974

 Total current liabilities

 9,397,307

 3,587,137

 Long-term portion lease liability

 114,148

 304,907

 Total liabilities

 9,511,455

 3,892,044

 Preferred stock, $ 0.001 par value, 100,000 shares authorized, of which none
 are issued and outstanding

 -

 -

 Common stock, $ 0.001 par value, 250,000,000 shares authorized, of which
 62,640,314 and 45,634,154 shares were issued and outstanding as of December 31, 2024 and 2023

 62,640

 45,634

 Additional paid-in capital

 110,856,719

 73,726,987

 Common stock payable

 1,997,936

 725,230

 Accumulated deficits

 ( 115,090,347
)

 ( 65,680,715
)

 Total Shareholders'
 Equity (Deficit)

 ( 2,173,052
)

 8,817,136

 Total Liabilities and Shareholders'
 Equity

 $
 7,338,403

 $
 12,709,180

 The accompanying notes
are an integral part of these financial statements.

 F- 3

 (Formerly
known as Jupiter Wellness, Inc.)

 Consolidated Statement of Operations

 For
the Years Ended December 31, 2024 and 2023

 2024

 2023

 Revenue

 Sales

 $
 701,967

 $
 202,670

 Cost of Sales

 3,147,724

 277,127

 Gross profit (loss) from continuing
 operations

 ( 2,445,757
)

 ( 74,457
)

 Operating expense

 General and administrative
 expenses

 39,611,915

 12,524,869

 Total operating expenses

 39,611,915

 12,524,869

 Other income / (expense)

 Interest income

 57,602

 57,340

 Interest expense

 ( 175,927
)

 ( 171,433
)

 Other income / (expense)

 ( 5,373,426
)

 ( 1,243,676
)

 Unrecognized gain / (loss) on
 equity investment

 ( 862,407
)

 ( 864,418
)

 Total other income (expense)

 ( 6,354,158
)

 ( 2,222,187
)

 Net (loss) from continuing operations

 $
 ( 48,411,830
)

 $
 ( 14,821,513
)

 Income (loss) from discontinued operations

 ( 997,802
)

 ( 261,528
)

 Net (loss)

 $
 ( 49,409,632
)

 $
)

 Deemed Dividend

 ( 2,293,301
)

 -

 Loss attributable to shareholders

 $
 ( 51,702,933
)

)

 Net (loss) per share:

 Basic

 $
 ( 0.91
)

 $
 ( 0.49
)

 Diluted

 $
 ( 0.91
)

 $
 ( 0.49
)

 Loss per share attributed to common shareholders

 $
 ( 0.95
)

 $
 -

 Weighted average number of shares

 Basic

 Diluted

 The
accompanying notes are an integral part of these financial statements.

 F- 4

 (Formerly
known as Jupiter Wellness, Inc.)

 Consolidated Statement of Changes in Shareholders' Equity

 For
the Years Ended December 31, 2024 and 2023

 Payable

 Capital

 Deficits

 Total

 Treasury

 Common Stock

 Common Stock

 Additional Paid

 Accumulated

 Payable

 In
 Capital

 Deficits

 Total

 Balance December 31, 2022

 -

 -

 22,338,888

 $
 22,339

 $
 477,000

 $
 53,763,929

 $
 ( 50,597,674
)

 $
 3,665,594

 Shares issued in Public Offering

 -

 -

 4,315,787

 4,316

 -

 3,446,359

 -

 3,450,675

 Shares issued -payable for services

 -

 -

 1,675,000

 1,675

 -

 676,259

 -

 677,925

 Shares issued for services and stock payable

 -

 -

 300,000

 248,230

 191,700

 -

 440,230

 Purchase of intangible asset

 -

 -

 5,000,000

 5,000

 -

 2,463,500

 -

 2,468,500

 Warrant conversions related to offerings

 -

 -

 10,266,845

 10,267

 -

 8,877,570

 -

 8,887,837

 Warrant conversions related to promissory notes

 -

 -

 1,200,000

 1,200

 -

 1,117,200

 -

 1,118,400

 Deconsolidation of SRM Entertainment and change to equity
 method of accounting

 -

 -

 -

 -

 -

 551,757

 -

 551,757

 Fair value of price reduction on conversion price for
 notes and warrants

 -

 -

 -

 -

 -

 1,120,333

 -

 1,120,333

 Fair value of options granted to employees

 -

 -

 -

 -

 -

 39,444

 -

 39,444

 Fair value of warrants granted for services

 -

 -

 -

 -

 -

 364,960

 -

 364,960

 Promissory note conversion

 -

 -

 537,634

 -

 499,463

 -

 500,000

 Fair value of warrants granted for services

 -

 -

 -

 -

 -

 545,703

 -

 545,703

 Fair value of options granted for services

 -

 -

 -

 -

 -

 68,819

 -

 68,819

 Net Loss

 -

 -

 -

 -

 -

 -

)

)

 Balance December 31, 2023

 -

 -

 45,634,154

 $
 45,634

 $
 725,230

 $
 73,726,987

 $
 ( 65,680,715
)

 $
 8,817,136

 Balance

 -

 -

 45,634,154

 $
 45,634

 $
 725,230

 $
 73,726,987

 $
 ( 65,680,715
)

 $
 8,817,136

 Shares issued in Private Placements for cash

 -

 -

 8,130,837

 8,131

 -

 10,617,388

 -

 10,625,519

 Shares issued for services

 -

 -

 2,727,436

 2,727

 642,750

 3,431,573

 -

 4,077,050

 Shares issued -payable for settlement

 -

 -

 -

 875,000

 -

 -

 875,000

 Shares issued for employee bonus

 -

 -

 750,000

 -

 1,042,500

 -

 1,043,250

 Shares issued for option exercises

 -

 -

 153,000

 -

 75,847

 -

 76,000

 Shares issued for Warrant conversions

 -

 -

 2,996,127

 2,996

 -

 3,959,718

 -

 3,962,714

 Deconsolidation of Caring Brands

 943,722

 943,722

 Shares issued from Stock in connection with extinguishment
 of convertible notes

 -

 -

 2,248,760

 2,249

 ( 245,044
)

 2,045,229

 -

 1,802,434

 Fair value of options granted

 -

 -

 -

 -

 -

 15,013,755

 -

 15,013,755

 Issuance of Warrants

 -

 -

 -

 -

 -

 2,293,301

 -

 2,293,300

 Deemed Dividends

 -

 -

 -

 -

 -

 ( 2,293,301
)

 -

 ( 2,293,300
)

 Net Loss

 -

 -

 -

 -

 -

 -

 ( 49,409,632
)

 ( 49,409,632
)

 Balance December 31, 2024

 -

 -

 62,640,314

 $
 62,640

 $
 1,997,936

 $
 110,856,719

 $
 ( 115,090,347
)

 $
 ( 2,173,052
)

 Balance

 -

 -

 62,640,314

 $
 62,640

 $
 1,997,936

 $
 110,856,719

 $
 ( 115,090,347
)

 $
 ( 2,173,052
)

 The accompanying
notes are an integral part of these financial statements.

 F- 5

 (Formerly
known as Jupiter Wellness, Inc.)

 Consolidated Statement of Cash Flows

 For
the Years Ended December 31, 2024 and 2023

 2024

 2023

 Cash flows from continuing operating activities:

 Net (loss)

 $
 ( 48,411,830
)

 $
 ( 14,821,513
)

 Depreciation & Amortization

 428,828

 214,142

 Gain on sale of fixed assets

 -

 ( 23,308
)

 Fair value of stock-based compensation

 5,120,300

 1,118,155

 Fair value of options issued for services

 15,013,755

 108,263

 Fair value of warrants issued for services

 -

 910,663

 Fair value of shares issued from Convertible note extinguishment

 ( 84,219
)

 1,120,333

 Unrealized loss on equity investment

 599,155

 864,418

 Realized gain/loss on sale of marketable securities

 269,723

 ( 238,834
)

 Unrealized loss on marketable securities

 101,088

 1,511,488

 Bad debt expense

 89,328

 7,022

 Gain on sale of SRM stock

 ( 431,972
)

 -

 Accrued losses on settlements

 7,389,092

 -

 Adjustment to reconcile net income to net cash provided by (used in) operating
activities

 Prepaid expenses and deposits

 635,718

 ( 1,045,861
)

 Right of Entry asset

 179,305

 164,950

 Accounts receivable

 ( 367,304
)

 367,024

 Inventory

 562,314

 ( 608,004
)

 Other assets

 -

 ( 86,174

 Accounts payable

 725,001

 ( 255,750
)

 Accrued expenses

 284,517

 141,842

 Lease liability

 ( 192,547
)

 ( 164,170
)

 Net cash (used in) continuing operating activities

 ( 18,089,748
)

 ( 10,715,314
)

 Cash flows from discontinued operating activities:

 Income (loss) from discontinued operations

 ( 997,802
)

 ( 261,528
)

 Reclassification of assets and
 liabilities to held for sale

 -

 863,065

 Cash provided from discontinued operations

 ( 997,802
)

 601,537

 Cash flows from investing activities:

 Cash paid for purchase of assets

 ( 87,162
)

 ( 106,153
)

 Cash paid for investment

 ( 739,557
)

 -

 Cash paid for marketable securities

 -

 ( 545,130
)

 Cash paid for purchase of intangible assets

 -

 ( 2,200,000
)

 Cash paid for SRM Inc.

 -

 ( 390,478
)

 Cash received from SRM Ltd. loan repayment

 -

 1,534,814

 Cash received for sale of marketable securities

 490,000

 869,834

 Net change to value of marketable securities

 -

 467,966

 Cash paid for intangible assets

 417,445

 -

 Purchase of equipment

 ( 85,665

)

 -

 Proceeds from sale of assets

 -

 39,100

 Net cash (used in) investing activities

 ( 4,939
)

 ( 330,047
)

 Cash flows from financing activities:

 Cash received upon exercise of options

 76,000

 -

 Cash received upon warrant conversions

 3,962,714

 13,456,912

 Deconsolidation of subsidiary

 943,722

 -

 Shares issued for private placements

 10,625,519

 -

 Loans to affiliates

 -

 ( 699,952
)

 Borrowings on debt

 -

 199,097

 Payments on debt

 -

 ( 156,436
)

 Net cash (used in) provided by financing activities

 15,607,955

 12,799,621

 Net increase (decrease) in cash and cash equivalents

 ( 3,484,534
)

 2,355,797

 Cash and cash equivalents at the beginning of the period

 3,833,349

 1,477,552

 Cash and cash equivalents at the end of the period

 $
 348,816

 $
 3,833,349

 SUPPLEMENTAL CASH FLOW INFORMATION:

 Non-cash items:

 Reclassification of Held to Maturity investments
 to Marketable Securities

 $
 -

 $
 3,417,100

 Shares issued from stock payable for services

 $
 113,500

 $
 192,000

 Shares issued for GBB asset purchase

 $
 175,000

 $
 2,468,500

 Reclassification for SRM Ltd deconsolidation

 $
 -

 $
 146,800

 Conversion of promissory note for common stock

 $
 1,542,457

 $
 500,000

 Common stock issued from stock payable on extinguishment of debt

 $
 245,044

 -

 Common stock issued from stock payable on convertible note

 $
 344,196

 $
 -

 The
accompanying notes are an integral part of these financial statements.

 F- 6

 (Formerly
known as Jupiter Wellness, Inc.)

 Notes
to Financial Statements

 For
the Years Ended December 31, 2024 and 2023

 Note 1 - Organization and Business
Operations

 Safety Shot Inc.
(NASDAQ: SHOT) was formerly known as Jupiter Wellness Inc. In August 2023 the Company acquired certain assets of GBB Drink Lab Inc which
included the blood alcohol detox drink Safety Shot, an over-the-counter drink that can lower blood alcohol content to allow recovery
from the effects of alcohol at a rate faster than would occur normally. Concurrently with the purchase, the Company changed its name
to Safety Shot, Inc. and changed its NASDAQ trading symbol to SHOT. The Company launched Safety Shot in December 2023.

 Safety Shot has
a well-established clinical development infrastructure and fits within the Company's existing over-the-counter health and wellness products. The Company will continue its current products line as an operating division and is committed to supporting
health and wellness by developing innovative solutions to a range of conditions. We take pride in our research and development of over-the-counter
(OTC) products and intellectual property, which aim to address some of the most prevalent health and wellness concerns today. Our product
pipeline includes a diverse range of products, such as hair loss treatments, eczema creams, vitiligo solutions, and sexual wellness products,
that cater to different health and wellness needs. We are dedicated to staying up-to-date with the latest scientific research and technology,
ensuring that our products are effective, safe, and meet the highest industry standards.

 To achieve our
mission, we rely on a team of highly skilled and experienced professionals who are committed to advancing our vision of health and wellness.
Our team includes scientists, researchers, product developers, and business experts who collaborate to create new products and enhance
existing ones. We also partner with industry leaders and organizations to leverage the latest technologies and expand our reach.

 We generate revenue
through various channels, including the sales of our OTC and consumer products. Our products are available
through various retailers and e-commerce platforms, making them accessible to a broad customer base. Additionally, we collaborate with
other companies to license our intellectual property, creating additional revenue streams and expanding our global presence.

 Segment Reporting

 The Company operates as a single
reportable segment. The Chief Operating Decision Maker (CODM) (our CEO, Jarrett Boon) reviews the financial performance of the
company on a consolidated basis and makes decisions regarding resource allocation at that level. As a result, the company has
determined that it operates in a single operating segment in accordance with Accounting Standards Codification (ASC) 280, Segment
Reporting. The company's product is a dietary drink supplement. Revenues from external customers are derived from
e-commerce, distributors, and direct to retail consumers. The company only operates in the United States.

 Going Concern Consideration

 As of December
31, 2024 and 2023, the Company had accumulated deficits of $ 115,090,347 and $ 65,680,715, respectively, and cash flow used in operations
of $ 18,089,748 and $ 10,715,314 for the years ended December 31, 2024 and 2023. The Company has incurred and expects to continue to incur
significant costs in pursuit of its expansion and development plans. At December 31, 2024 and 2023, the Company had $ 348,816 and $ 3,833,349,
respectively, in cash and working capital of a negative $ 6,816,953 and a positive $ 4,303,687, respectively. These conditions have raised
doubt about the Company's ability to continue as a going concern as noted by our auditors, M&K CPAS, PLLC.

 Note 2 – Significant
Accounting Policies Basis of Presentation

 The accompanying
consolidated financial statements are presented in conformity with accounting principles generally accepted in the United States of America
("GAAP") and pursuant to the rules and regulations of US Securities and Exchange Commission ("SEC"). The consolidated
financial statements include the accounts of the Company and its wholly-owned subsidiaries, Jupiter Wellness Investments, Inc., a Florida
corporation, and for the period from January 1, 2022 to August 14, 2023, SRM Entertainment, Limited, a Hong Kong private limited company,
which was sold effective August 14, 2923. All intercompany accounts and transactions have been eliminated.

 F- 7

 Debt Extinguishment and Modification

 Any changes or
modification to debt instruments must be examined to determine if the modification has any significant effect. If the changes or modifications
are material, the change or modification must be accounted for as an extinguishment. If determined to be an extinguishment, the change
or modification to the original debt is derecognized and a new debt is recognized. Any difference in the fair value is recognized as
a gain or loss on extinguishment.

 Deconsolidation

 The Company will
use Deconsolidation Accounting upon the loss of control of a subsidiary determined to be less than 50 % owned. Upon deconsolidation, the
Company will no longer present the subsidiary's assets, liabilities, and results of operations in its consolidated financial statements.
If the Company owns more than 20 % but less than 50 % the Company will continue to report under the Equity Method.

 Discontinued Operations

 The
Company adopted the FASB Accounting Standards Update No. 2014-08 Discontinued Operations requiring entities to reclassify assets and
liabilities of a discontinued operation for all comparative periods presented in the statement of financial position. Effective August
14, 2023, the Company sold SRM Entertainment Ltd, ("SRM") a wholly owned subsidiary. Financial statements preceding the effective
date of the sale have been reclassified to reflect the respective SRM assets and liabilities as being held for sale and the operations
of SRM are reflected a discontinued operation.

 Effective September 24, 2024, the Company sold Caring
Brands Inc., ("CBI") a wholly owned subsidiary. Financial statements preceding the effective date of the sale have been reclassified
to reflect the respective CBI assets and liabilities as being held for sale and the operations of CBI are reflected a discontinued operation.

 Equity Method for Investments

 Investments in
unconsolidated affiliates, which the Company exerts significant influence but does not control or otherwise consolidate, are accounted
for using the equity method. Equity method investments are initially recorded at cost. These investments are included in investment in
joint ventures in the accompanying consolidated balance sheets. The Company's share of the profits and losses from these investments
is reported in loss from equity method joint venture in the accompanying consolidated statements of operations. The Company monitors
its investments for other-than-temporary impairment by considering factors such as current economic and market conditions and the operating
performance of the investees and records reductions in carrying values when necessary.

 Asset Purchases

 The Company accounts
for an acquisitive transaction determined to be an asset purchase based on the cost accumulation and allocation method, under which the
costs to purchase the asset or set of assets are allocated to the assets acquired. No goodwill is recorded in connection with an asset
purchase.

 Investments in Marketable Securities

 The Company's
Marketable Securities are considered Held-For-Trading ("HFT") or Trading Assets. HTF- Trading securities are valued at their
fair value when purchased/sold, and any unrealized gains or losses are recorded periodically on financial reporting dates as other income
or loss.

 Emerging Growth Company Status

 The Company is
an "emerging growth company," as defined in Section 2(a) of the Securities Act of 1933, as amended, (the "Securities
Act"), as modified by the Jumpstart our Business Startups Act of 2012, (the "JOBS Act"), and it may take advantage
of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth
companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the
Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and
exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden
parachute payments not previously approved.

 F- 8

 Further, Section
102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards
until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a
class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards.
The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply
to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended
transition period which means that when a standard is issued or revised and it has different application dates for public or private
companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the
new or revised standard. This may make comparison of the Company's financial statements with another public company which is neither
an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible
because of the potential differences in accounting standards used.

 Use of Estimates

 The preparation
of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported
amounts of expenses during the reporting period. Actual results could differ from those estimates.

 Cash and Cash Equivalents

 The Company considers
all short-term investments with a maturity of three months or less when purchased to be cash and equivalents for purposes of the statement
of cash flows. There were no cash equivalents as of December 31, 2024 and 2023.

 Inventory

 Inventories are
stated at the lower of cost or market. The Company periodically reviews the value of items in inventory and provides write-downs or write-
offs of inventory based on its assessment of market conditions. Write-downs and write-offs are charged to cost of goods sold. Inventory
is based upon the average cost method of accounting. In connection with the re-branding and marketing of the Sure Shot beverage and change
in the size of the individual cans from a 12 oz can to a 4oz can, the Company wrote off a total of $ 2,269,580 of inventory, consisting
of finished products, labels, packaging, containers, etc. during the year ended December 31, 2024. During the year ended December 31,
2023, the Company had expired inventory write-downs of $ 23,794.

 Investments Held-to-Maturity

 Investments that
the Company's management has the "positive intent and ability" to hold through maturity are classified and accounted
for as hold-to- maturity investments ("HTM"). HTM investments are carried at amortized cost in the financial statements.
For investments classified as HTM, no unrealized gains and losses will be recognized in financial statements.

 Sale of SRM Entertainment, Inc.

 On December 9,
2022, The Company entered into a stock exchange agreement (the "Exchange Agreement") with SRM Entertainment, Inc. ("SRM")
to govern the separation of SRM from the Company. On May 26, 2023, we amended and restated the Exchange Agreement (the "Amended
and Restated Exchange Agreement") to include additional information regarding the distribution and the separation of SRM the Company.
The separation as set forth in the Amended and Restated Exchange Agreement with Jupiter closed August 14, 2023. Pursuant to the Amended
and Restated Exchange Agreement, on May 31, 2023, SRM issued to the Company 6,500,000 shares of SRM Common Stock (representing 79.3 %
of SRM's outstanding shares of Common Stock) in exchange for 2 ordinary shares of SRM Ltd owned by the Company (representing all
of the issued and outstanding ordinary shares of SRM) (the "Share Exchange"). On August 14, 2023, SRM consummated its Initial
Public Offering ("IPO"), pursuant to which it sold 1,250,000 shares of its common stock at a price of $ 5.00 per share. In
connection with the Share Exchange and SRM's IPO, the Company distributed 2,000,000 shares of SRM's common stock to the Company's
stockholders and certain warrant holders (out of the 6.5 million shares issued in May 2023) which occurred on the effective date of the
Registration Statement but prior to the closing of the IPO. Following such distribution, the Company owned 4.5 million of the 9,450,000
shares of common stock outstanding of SRM. At December 31, 2024, the Company held 2,613,342 shares of SRM (less than 20 %) which are considered
marketable securities.

 F- 9

 Trading Securities

 Securities that the Company intends
to sell are classified as trading securities. Trading securities are carried at fair value with gains and losses recognized in current
period earnings.

 Net Loss
per Common Share

 Net income (loss)
per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per
share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period.
If applicable, diluted earnings per share assume the conversion, exercise or issuance of all common stock instruments such as options,
warrants, convertible securities and preferred stock, unless the effect is to reduce a loss or increase earnings per share. As such,
options, warrants, convertible securities, and preferred stock are not considered in the calculations, as the impact of the potential
common shares would be to decrease the loss per share.

 Schedule of Net Loss per Common Share

 2024

 2023

 For the Year Ended December
 31,

 2024

 2023

 Numerator:

 Net (loss) from continuing operations

 $
 ( 48,411,830
)

 $
 ( 14,821,513
)

 Income
 (loss) from discontinued operations

 ( 997,802
)

 ( 261,528
)

 Net (loss)

 $
 ( 49,409,632
)

 $
)

 Deemed Dividend

 ( 2,293,301
)

 -

 Loss attributable to shareholders

 $
 ( 51,702,933
)

 ( 15,083,041)

 Denominator:

 Denominator for basic earnings
 per share - Weighted- average common shares issued and outstanding during the period

 Denominator for diluted earnings
 per share

 Basic (loss) per share

 $
 ( 0.91
)

 $
 ( 0.49
)

 Diluted (loss) per share

 $
 ( 0.91
)

 $
 ( 0.49
)

 Loss per shares attributed to common shareholders

 $
 (.95
)

 -

 Fair
Value of Financial Instruments

 The fair value
of the Company's assets and liabilities, which qualify as financial instruments under ASC Topic 820, "Fair Value Measurements
and Disclosures," approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term
nature.

 Revenue Recognition

 The Company generates
its revenue from the sale of its products directly to the end user or through a distributor (collectively the "customers").

 The Company recognizes
revenues by applying the following steps in accordance with FASB Accounting Standards Codification 606 "Revenue from Contracts
with Customers" ("ASC 606"). Under ASC 606, revenues are recognized when control of the promised goods or services
are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those
goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized
as it fulfils its obligations under each of its agreements:

 identify
 the contract with a customer;

 identify
 the performance obligations in the contract;

 determine
 the transaction price;

 allocate
 the transaction price to performance obligations in the contract; and

 The Company's
performance obligations are satisfied when goods or products are shipped on a FOB shipping point basis as title passes when shipped.
Our products are generally paid in advance of shipment or standard net 30 days and we offer no specific right of return, refund or warranty
related to our products except for cases of defective products of which there have been none to date.

 F- 10

 Accounts Receivable and Credit
Risk

 Accounts receivable
are generated from sales of the Company's products. The Company provides an allowance for doubtful collections, which is based
upon a review of outstanding receivables, historical collection information, and existing economic conditions. During the year ended
December 31, 2024 and 2023, the Company recognized no allowance for doubtful collections.

 Impairment of Long-Lived Assets

 We evaluate long-lived
assets (including intangible assets) for impairment whenever events or changes in circumstances indicate that the carrying amount of
a long-lived asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds the undiscounted future net
cash flow the asset is expected to generate.

 Goodwill and Intangible Assets

 Goodwill is tested
for impairment at a minimum on an annual basis. Goodwill is tested for impairment at the reporting unit level by first performing a qualitative
assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying value.
If the reporting unit does not pass the qualitative assessment, then the reporting unit's carrying value is compared to its fair
value. The fair values of the reporting units are estimated using market and discounted cash flow approaches. Goodwill is considered
impaired if the carrying value of the reporting unit exceeds its fair value. The discounted cash flow approach uses expected future operating
results. Failure to achieve these expected results may cause a future impairment of goodwill at the reporting unit.

 Intangible assets
consist of patents and trademarks, purchased customer contracts, purchased customer and merchant relationships, purchased trade names,
purchased technology, and non-compete agreements. Intangible assets are amortized over the period of estimated benefit using the straight-line
method and estimated useful lives ranging from one to twenty years. No significant residual value is estimated for intangible assets.
We evaluate long-lived assets (including intangible assets) for impairment whenever events or changes in circumstances indicate that
the carrying amount of a long-lived asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds the
undiscounted future net cash flow the asset is expected to generate.

 Foreign Currency Translation

 Assets and liabilities
in foreign currencies are translated using the exchange rate at the balance sheet date, while revenue and expense accounts are translated
at the average exchange rates prevailing during the period. Equity accounts are translated at historical exchange rates. Cumulative gains
and losses from foreign currency transactions and translation for the years ended December 31, 2024 and 2023 were not material.

 Research and Development

 The Company accounts
for research and development costs in accordance with the Accounting Standards Codification subtopic 730-10, Research and Development
("ASC 730-10"). Under ASC 730-10, all research and development costs must be charged to expense as incurred. Accordingly,
internal research and development costs are expensed as incurred. Third-party research and developments costs are expensed when the contracted
work has been performed or as milestone results have been achieved. Company-sponsored research and development costs related to both
present and future products are expensed in the period incurred. The Company incurred research and development expenses of $ 271,719
and $ 100,591 for the years ended December 31, 2024, and 2023, respectively.

 F- 11

 Stock Based Compensation

 The Company recognizes
compensation costs to employees under FASB Accounting Standards Codification 718 "Compensation - Stock Compensation" ("ASC
718"). Under ASC 718, companies are required to measure the compensation costs of share-based compensation arrangements based on
the grant- date fair value and recognize the costs in the financial statements over the period during which employees are required to
provide services. Share-based compensation arrangements include stock options and warrants. As such, compensation cost is measured on
the date of grant at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the option
grant.

 On October 24,
2018, the inception date, the Company adopted ASU No. 2018-07 "Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee
Share-Based Payment Accounting." These amendments expand the scope of Topic 718, Compensation - Stock Compensation (which currently
only includes share-based payments to employees) to include share-based payments issued to non-employees for goods or services. Consequently,
the accounting for share-based payments to nonemployees and employees will be substantially aligned.

 Income Taxes

 The Company accounts
for income taxes under ASC 740 Income Taxes ("ASC 740"). ASC 740 requires the recognition of deferred tax assets and liabilities
for both the expected impact of differences between the financial statement and tax basis of assets and liabilities and for the expected
future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation allowance to
be established when it is more likely than not that all or a portion of deferred tax assets will not be realized.

 ASC 740 also clarifies
the accounting for uncertainty in income taxes recognized in an enterprise's financial statements and prescribes a recognition
threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken
in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by
taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim period,
disclosure and transition. Based on the Company's evaluation, it has been concluded that there are no significant uncertain tax
positions requiring recognition in the Company's financial statements. Since the Company was incorporated on October 24, 2018,
the evaluation was performed for 2018 tax year which would be the only period subject to examination. The Company believes that its income
tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result in a material changes
to its financial position. The Company's policy for recording interest and penalties associated with audits is to record such items
as a component of income tax expense.

 The
Company's deferred tax asset at December 31, 2024 and 2023 consists of net operating loss carry forwards calculated using
federal and state effective tax rates equating to approximately $ 14,660,582 and $ 8,658,484 less
a valuation allowance in the amount of approximately $ 14,660,582 and $ 8,658,484.

 Related parties

 The Company follows
subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party
transactions.

 Pursuant to Section
850-10-20 the related parties include a. affiliates of the Company; b. entities for which investments in their equity securities would
be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825-10-15, to be accounted
for by the equity method by the investing entity; c. trusts for the benefit of employees, such as pension and profit-sharing trusts that
are managed by or under the trusteeship of management; d. principal owners of the Company; e. management of the Company; f. other parties
with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other
to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g. other parties
that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in
one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might
be prevented from fully pursuing its own separate interests.

 F- 12

 The consolidated
financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense
allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the
preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a. the
nature of the relationship(s) involved; b. a description of the transactions, including transactions to which no amounts or nominal amounts
were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding
of the effects of the transactions on the financial statements; c. the dollar amounts of transactions for each of the periods for which
income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding
period; and d. amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent,
the terms and manner of settlement.

 Recent Accounting Pronouncements

 In
November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, enhancing segment reporting
requirements under ASC 280. This ASU aims to provide investors with more detailed information about a public entity's reportable segments,
including those with a single reportable segment. The Key Provisions include:

 1.
 Enhanced Expense Disclosures: Public entities
 must now disclose significant segment expenses that are regularly provided to the chief operating
 decision maker (CODM) and included in each reported measure of segment profit or loss.

 2.
 Disclosure of Other Segment Items: Entities are required to
 disclose an amount for "other segment items" by reportable segment, representing the
 difference between reported segment revenues and the sum of significant segment expenses and the
 reported measure of segment profit or loss. A qualitative description of the composition of these
 other segment items is also required.

 3.
 Interim Reporting Requirements: All annual disclosures about
 a reportable segment's profit or loss and assets, including the new disclosures introduced
 by ASU 2023-07, must now be provided in interim periods as well.

 4.
 Single Reportable Segment Entities: Public entities with a
 single reportable segment are explicitly required to provide all segment disclosures mandated by
 ASC 280, including those introduced by ASU 2023-07. This clarification ensures that users receive
 comprehensive information about the entity's operations and performance.

 5.
 Disclosure of CODM Information: Entities must disclose the
 title and position of the CODM and explain how the CODM uses the reported measure(s) of segment profit
 or loss in assessing performance and allocating resources.

 These
amendments are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after
December 15, 2024. The Company adopted the ASU for the year ended December 31, 2024.

 Note 3 - Accounts and other receivables

2024 and 2023, the Company had accounts and other receivables of $ 283,561
 and $ 5,585,
respectively. At December 31, 2024, the $ 83,561 accounts receivable were from current customers and the other receivable of $ 200,000
was a credit refund from a vendor.

 Note 4 - Prepaid Expenses and
Deposits

2024, the Company had prepaid expenses and deposits of $ 920,189, consisting of $ 193,074 of raw materials, prepaid insurance of $ 260,943,
security deposits of $ 55,116 and other prepaids of $ 411,056. At December 31, 2023 the Company had $ 1,469,733, consisting of $ 1,073,823
of raw materials related to a two million can Safety Shot beverage production run, prepaid insurance of $ 56,335 and other prepaids of
$ 339,575.

 Note 5 - Inventory

2024 and 2023, the Company had inventory of $ 233,510 and $ 795,824, consisting of finished goods, raw materials and packaging supplies.

 F- 13

 Note 6 -
Marketable Securities

2022, the Company had invested $ 2,908,300 in Jupiter Wellness Sponsor LLC ("JWSL"), a limited liability company formed for
the sole purpose of sponsorship of Jupiter Wellness Acquisition Corp. ("JWAC"), a special purpose acquisition company ("SPAC")
and an unconsolidated subsidiary. Mr. Brian John, our CEO, is the managing member of JWSL and was the Chief Executive Officer of JWAC.

 JWAC filed a Current
Report on Form 8-K filed with the Securities Exchange Commission on May 2, 2023. JWAC's stockholders approved JWAC's business
combination with Chijet Inc. and its affiliates including Chijet Motor Company Inc. (collectively "Chijet"), at its Special
Meeting of Stockholders held on May 2, 2023 and closed the transaction on June 1, 2023. As a result, on June 27, 2023, the Company received
a total of 1,662,434 shares of restricted common stock of Chijet (Nasdaq: CJET) in exchange for its Loans. In August 2023, the Company
received 96,000 additional shares of Chijet due to downside protection clauses in the business combination agreements.

 In May 2023, the
Company purchased 48,000 shares of JWAC (now Chijet) common stock for $ 508,800 and in September and October 2023, the Company purchased
an additional 18,200, shares for $ 36,330.

 During the year ended December 31,
2023 the Company sold 271,679 Chijet shares for a realized gain of $ 238,834.

2023 the Company, the Company held 1,200,821 common shares of Chijet (the "CJET Shares") are considered trading securities
and are categorized as marketable securities on the balance sheet. At December 31, 2023 the CJET Shares had a combined fair market value
of $ 842,976 had a combined unrealized loss of $ 1,511,488 which is included in other income/loss.

 In connection
with the Chijet transaction, our CEO Brian John is "entitled to a twenty percent (20%) bonus based on the net profits realized
from any investment made by the Company." At June 30, 2023 the Company had recorded a contingent liability of $ 233,377 payable
to Brian in this regard. Subsequent to June 30, 2023, Mr. John agreed to receive 267,500 shares of restricted Chijet shares in lieu of
any bonuses payments related to the transaction.

2024, the Company did not hold any shares of Chijet.

 Note 7 -
Investment in and Loans to Affiliates

 On December 9,
2022, The Company entered into a stock exchange agreement (the "Exchange Agreement") with SRM Entertainment, Inc. ("SRM")
to govern the separation of SRM from the Company. On May 26, 2023, we amended and restated the Exchange Agreement (the "Amended
and Restated Exchange Agreement") to include additional information regarding the distribution and the separation of SRM the Company.
The separation as set forth in the Amended and Restated Exchange Agreement with Jupiter closed August 14, 2023. Pursuant to the Amended
and Restated Exchange Agreement, on May 31, 2023, SRM issued to the Company 6,500,000 shares of SRM Common Stock (representing 79.3 %
of SRM's outstanding shares of Common Stock) in exchange for 2 ordinary shares of SRM Ltd owned by the Company (representing all
of the issued and outstanding ordinary shares of SRM) (the "Share Exchange"). On August 14, 2023, SRM consummated its Initial
Public Offering ("IPO"), pursuant to which it sold 1,250,000 shares of its common stock at a price of $ 5.00 per share. In
connection with the Share Exchange and SRM's IPO, the Company distributed 2,000,000 shares of SRM's common stock to the Company's
stockholders and certain warrant holders (out of the 6.5 million shares issued in May 2023) which occurred on the effective date of the
Registration Statement but prior to the closing of the IPO. Following such distribution, the Company owned 4.5 million of the 9,450,000
shares of common stock outstanding and SRM. At December 31, 2024, the Company held 2,613,342 shares of SRM representing approximately
 16 % of the issued and outstanding common shares of SRM.

2022, the Company had an outstanding unsecured, non-interest bearing loan receivable balance of $ 1,482,673 from SRM Entertainment, Ltd,
its wholly owned subsidiary. On September 1, 2022, the loan was converted to a six percent ( 6 %) interest-bearing promissory note (the
"Note") due on the earlier of: (i) September 30, 2023 or (ii) the date on which the Company consummates an initial public
offering of its securities. During the nine months ended September 30, 2023, the Company accrued $ 55,847 interest expense on the Note.
The total balance of $ 1,538,520 ($ 1,482,673 note and $ 55,847 interest) due Jupiter was paid from proceeds SRM's Initial Public
Offering ("IPO") on August 14, 2023.

 On September 23, 2024, in anticipation of the acquisition of Yerbae Brands
Corp. ("Yerbae") described in detail in the "ITEM 1. BUSINESS, Recent Developments" section of this document
(the "Acquisition"), the Company entered into a loan agreement with Yerbae whereby it agreed to provide a loan in the
aggregate principal amount of up to $ 500,000. In further preparation for the Acquisition, on December 10, 2024, the Company entered
into a Letter of Intent ("LOI") whereby it agreed to fund up to $ 3,000,000 in Yerbae payables upon payment due date to Yerbae's
vendors and suppliers. The Company has paid $ 225,000 towards the $ 3,000,000 committed pursuant to the LOI.

 F- 14

 Note 8 -
Intangible Assets

 SRM Entertainment

 Effective
August 14, 2023 the Company spun-off 52 %
of SRM Ltd, formerly a wholly-owned subsidiary, into a public company in exchange for shares of SRM Inc. common stock. The fair
value of the 4,609,166
shares of common stock SRM Inc. received (net of dividend shares to the Company's shareholders) was $ 1,521,025.
As a result, the Company will no longer consolidate SRM Ltd in its financial statements and the intangible assets have been
de-consolidated. The deconsolidation produced a loss to the Company of $ 409,549.
At December 31, 2023, the Company owned 48 %
of SRM Inc. (see Note 6 above) and used the equity method of accounting for its ownership in SRM Inc. The Company recorded $ 864,418
as its share of SRM losses from the date of separation to December 31, 2023. During the quarter ended March 31, 2024, the Company
sold 350,000
shares of SRM with a cost basis of % 57,452
and recognized SRM losses of $ 599,155,
which reduced the carrying value of SRM to $ 0.00.

 Schedule of Deconsolidation and Equity

 Summary of deconsolidation loss:

 Goodwill and Intangibles

 $
 1,042,151

 Net assets of SRM Ltd at deconsolidation

 189,866

 Equity of SRM Ltd

 698,557

 Effect of deconsolidation

 1,930,574

 Fair value of Consideration

 ( 1,521,025
)

 Loss on deconsolidation

 $
 ( 409,549
)

 Summary of Changes to Equity Method Investment

 Summary of Changes to Equity Method Investment

 Fair value of Consideration

 $
 1,521,025

 Equity in SRM losses

 ( 864,418
)

 Balance, December 31, 2023

 $
 657,183

 Sale of shares of SRM common stock

 ( 57,452
)

 Equity in SRM losses

 ( 599,155
)

 Balance,
 December 31, 2024

 $
 - 0 -

 F- 15

 Safety Shot Acquisition

 On July 10, 2023,
the Company entered into an Asset Purchase Agreement (the "APA") with GBB Drink Lab, Inc. ("GBB") under the terms
of which the Company acquired certain assets of GBB (the "Purchased Assets") which included the patents for a blood alcohol
detox drink Safety Shot, an over-the- counter drink that can lower blood alcohol content to allow recovery from the effects of alcohol
at a rate faster than would occur normally. The purchase price was 5,000,000 shares of the Company's restricted common stock, valued
at $ 2,468,500, plus $ 200,000 in cash and additional amounts based upon achieving certain benchmarks. At the time of purchase GBB had
no employees, no revenues and no operations and reported its only asset was intellectual property. Using guidance provided under the
FASB Accounting Standards Update No. 2017-01, Clarifying the Definition of a business, the transaction was accounted for as a
single asset purchase and the entire purchase price of $ 2,668,500 was allocated to the patents. The APA also contains two earn-out provisions
that entitle GBB to additional consideration for the Purchased Assets in the maximum amount of $ 5,500,000 as follows: (i) in the event
that during the Earn-Out Period, the Company receives cash proceeds of at least $ 11,000,000 from exercises of the Company's $ 1.00
Warrants at an exercise price of $ 1.00 per Common Share ("Milestone 1"), the Company shall pay to the Seller $ 2,500,000 payable
in cash; and (ii) in the event that during the Earn-Out Period, the Company receives cash proceeds of at least $ 14,000,000 from exercises
of the Company's outstanding July 2021 Warrants at an exercise price of $ 1.40 per Common Share ("Milestone 2" and collectively
with Milestone 1, the "Earn-Out Milestones" and individually, an "Earn-Out Milestone"), the Company shall pay
to the Seller an additional $ 3,000,000 in cash. In December 2023, the Company paid an additional $ 2,000,000 under the earn-our provisions
which was allocated to the patents. As of December 31,2024, GBB is entitled to an additional payment of $ 175,000 under Milestone (i).

 The patents will
be amortized over twelve years (the remaining 12 -year life of the patents). During the years ended December 31, 2024 and 2023, the Company
recognized $ 407,400 and $ 157,443 of amortization expense.

 Summary of transaction and carrying value:

 Purchase price:

 Allocation of Purchase price:

 Cash

 $
 2,460,664

 Patents

 $
 4,929,164

 Fair value of stock issued

 2,468,500

 Accumulated Amortization

 ( 564,843
)

 $
 4,929,164

 Balance

 $
 4,367,321

 Note 9 - Accrued Expense and
Other Accrued Liabilities

2024 and December 31, 2023, the Company had accrued expenses on the convertible notes below of $ 1,433,245 and
$ 269,152, respectively. At December 31, 2024 and December 31, 2023, the Company had accrued liabilities totalling $ 234,360 and $ 60,450,
respectively.

 Note 10 -
 Convertible Notes Payable

 On April 20,
2022, the Company entered into a $ 1,500,000
Loan Agreement and a $ 500,000
Loan Agreement (collectively the "Agreements"). Pursuant to the Agreements, the Company issued two Convertible
Promissory Notes in the principal amounts of $ 1,500,000
and $ 500,000
(the "Notes"). In connection with the Notes the Company issued Common Stock Purchase Warrants for 1,100,000
shares and 360,000
shares of the Company's common stock (the "Warrants"). The Notes originally had a maturity date of October
20, 2022, but has been extended to January
31, 2024. In connection with the Notes, the Company issued a total of 250,000
shares as Origination Shares valued at fair market value of $ 277,500.
There is no beneficial conversion feature since the conversion price is greater then the fair value of the shares. The Accrued interest and note converted to stock was paid in full on September
30, 2024.

 F- 16

 The Notes have
an original issuance discount of five percent ( 5 %), $ 10,000 in legal fees, an interest rate of eight percent ( 8 %), and a conversion price
of $ 2.79 per share, subject to an adjustment downward if the Company is in default of the terms of the Notes. The Warrants have a five
( 5) year term, an exercise price of $ 2.79 per share, have a cashless conversion feature until such time as the shares underlying the
Warrants are included in an effective registration and certain anti-dilution protection.

 The fair value
of origination shares and warrants issued in connection with the 2022 Note totals $ 984,477.

 Interest expense
for the year ended December 31, 2024 on the Notes totals $ 175,927.
Total interest expense for the year ended December 31, 2023, totaled $ 171,433.

ended December 31, 2023, the Notes were amended to change the conversion price of the Notes and exercise price of all outstanding warrants
was reduced to $ 0.93 pursuant to down round protection provisions in the loan and warrant agreements and to extend the Notes to January
31, 2024. The change on the Notes conversion rate was a change from $ 2.79 and the change to the outstanding warrants exercise price was
on 500,000 warrants with $ 6.00 price, 1,460,000 at $ 2.79 and 800,000 at $ 1.00. The amendment is considered a material modification of
the Notes and the Company has used extinguishment accounting to account for the change. The fair value of the additional shares underlying
the Note conversion and warrant exercise using the reduced conversion and exercise price was measured using the Black-Scholes valuation
model. The fair value of the conversion feature totals $ 923,603 and the fair value of the warrants totals $ 196,730. The total loss on
extinguishment of $ 1,120,333 has been included in other gains and losses. In December 2023, the $ 500,000 Note was converted into 537,634
shares of the Company's common stock as payment of the principal in full. In September 30, 2024, the remaining balance of $ 1,500,000 was converted to stock and paid in full.

 On January
20, 2025 the Company entered into a convertible note agreement with Bigger Capital LLP (i)
a secured convertible note in the principal amount of $ 1.75 million maturing on December 31, 2026 (the "Secured Convertible
Bigger Note"); and (ii) a convertible note in the principal amount of $ 3.5 million maturing June 30, 2025 (the
"Convertible Bigger Note," and, together with the Secured Convertible Bigger Note, the "Bigger Notes"). The
Bigger Settlement Agreement is filed herein as Exhibit 10.32. The Secured Convertible Bigger Note is filed herein as Exhibit 4.5 and
the Convertible Bigger Note is filed herein as Exhibit 4.6. The notes entered were due to a legal settlement and no cash was
received. This amount was recorded as a loss on settlement.

 The following
table sets forth a summary of the principal balances of the Company's convertible promissory notes activity for the years ended
December 31, 2024 and 2023:

 Schedule of Convertible Promissory Notes

 Principal Balance, December 31, 2023

 $
 1,500,000

 Note converted to stock – paid in full

 ( 1,500,000
)

 Convertible Note issued in settlement to Bigger Capital

 $
 5,250,000

 Principal Balance, December 31, 2024

 $
 5,250,000

 Note 11 - Covid-19 SBA Loans

ended December 31, 2020, the Company applied for and received $ 55,700 under the Economic Injury Disaster Loan Program ("EIDL"),
which is administered through the Small Business Administration ("SBA"). During 2021, the SBA notified the Company that the
terms of the EIDL are a term of 30 years and an interest rate of 3.75 %. The balance of the EIDL at December 31, 2024 and 2023 was $ 48,974
and $ 47,533, respectively.

 Note 12
- Capital Structure

 Preferred
Stock - The Company is authorized to issue a total of 100,000 shares of preferred
stock with par value of $ 0.001. No shares of preferred stock are issued and outstanding.

 Common Stock
 - The Company is authorized to issue a total of 250,000,000 shares of common stock
with par value of $ 0.001. As of December 31, 2024 and 2023, there were 62,640,314 and 45,634,154 shares of common stock issued and outstanding,
respectively.

 F- 17

 Year ended December 31, 2023
issuances:

 Shares issued in Public
Offering

 Concurrently to
the PIPE Agreement and Offering of Stock Warrants (see Note 13 below), the Company entered into a Securities Purchase Agreement (the
"RD Agreement") with certain purchasers, pursuant to which on January 23, 2023, 4,315,787 shares of common stock, par value
$ 0.001 (the "Common Stock"), at a price of $ 0.70 per share were issued to the purchasers (the "RD Offering").
The Common Stock was issued pursuant to a Registration Statement on Form S-3 filed by the Company with the Securities and Exchange Commission
(the "Commission") on September 28, 2022 (File No. 333- 267644) and declared effective on November 9, 2022. The aggregate
gross proceeds to the Company from both the PIPE Offering and the RD Offering were approximately $ 4.1 million, with the purchase price
of one share, one 3-year warrant and one 5-year warrant as $ 0.95. The net proceeds were

 $ 3,450,675.

 Shares issued for services

ended December 31, 2023, the Company entered into Consulting Agreements under the terms of which the Company issued 1,675,000 shares
of its common stock. The shares were issued at their respective fair value based on the Company's Nasdaq closing price of the shares
on the date of the issuance of the shares. The Company recognized $ 677,925 as stock-based compensation in the year ended December 31,
2023.

 Shares issued for stock
payable

ended December 31, 2023, the Company issued 300,000 shares which were included in Common Stock Payable at December 31, 2022 with a fair
value of $ 192,000. In connection with two Consulting Agreements, the Company had not issued 450,000 shares with a fair value of 440,230
which are included in common stock payable.

 Shares issued for purchase
of assets

 In July 2023,
the Company entered into an Asset Purchase Agreement for the purchase of intellectual property relating to Safety Shot (see Note 9).
The purchase price included the issuance of 5,000,000 shares of the Company's restricted common stock.

 Shares issued for exercise
of warrants related to promissory notes

 In August 2023,
the Company issued a total of 1,200,000 shares upon exercise of warrants related to the Promissory Notes described in Note 11. The Company
received $ 1,118,400 for the exercise.

 Shares issued for exercise
of warrants related to the Pipe transaction

 Beginning in August
2023, the certain holders of warrants related to the Company's IPO and PIPE transaction above, exercised a portion of their warrant
holdings and the Company issued a total 10,266,845 shares of its common stock upon exercise. The Company received $ 8,887,837 for the
exercise.

 Shares issued for conversion
of promissory note

 In December 2023, a $ 500,000 convertible
promissory note was converted into 537,634 shares of the Company's restricted common stock.

 F- 18

 Year ended December
31, 2024 issuances:

issued in Private Placement for Cash

the year ended December 31, 2024, the Company had three take-down under its S-3 Registration Statement under which the Company issued
a total of 8,130,837 unrestricted shares of its common stock with a fair value of $ 10,625,519.

issued for services

the year ended December 31, 2024 the Company issued a total of 2,727,436 restricted shares of its common stock for services for a total
fair value of $ 4,077,050

issued for employee bonuses

the year ended December 31, 2024, the Company issued a total of 750,000 restricted shares of its common stock for employee bonuses for
a total fair value of $ 1,043,250.

issued for option exercises

the year ended December 31, 2024, the company issued a total of 153,000 restricted shares of its common stock for cash payments of $ 76,000
for options exercised.

issued for warrant conversions

the year ended December 31, 2024, the Company issued a total of 2,996,127 restricted shares of its common stock for cash payments of $ 3,962,714
for warrant conversions.

issued from stock in connection with extinguishment of convertible notes

the year ended December 31, 2024, the Company issued a total of 2,248,760 restricted shares of its common stock for a fair value of $ 1,802,434
for extinguishment of convertible notes.

 The following table sets forth the
issuances of the Company's shares of common stock for the year ended December 31, 2024 and 2023 as follows:

 Schedule of Stock Holders

 Balance December 31, 2022

 22,338,888

 Public offering

 4,315,787

 Shares issued for stock payable

 300,000

 Shares issued for services

 1,675,000

 Stock issued for asset purchase

 5,000,000

 Stock issued for conversion of warrants related to Notes

 1,200,000

 Stock issued in connection with note conversion

 537,634

 Stock issued for conversion of warrants related to IPO

 10,266,845

 Balance December 31, 2023

 45,634,154

 Beginning balance

 45,634,154

 Shares issued in Private Placements for cash

 8,130,837

 Shares issued for services

 2,727,436

 Shares issued for employee bonuses

 750,000

 Shares issued for option exercises

 153,000

 Shares issued for Warrant conversions

 2,996,127

 Shares issued from Stock in connection with extinguishment
of convertible notes

 2,248,760

 Balance December 31, 2024

 62,640,314

 Ending balance

 62,640,314

 F- 19

 Common Stock Payable

ended December 31, 2023, the Company issued 300,000 shares for valued at $ 192,000 from stock payable and entered into two agreements
for inducement for $ 326,730 and three agreements for services totaling $ 113,500. The balance at December 31, 2023 was $ 725,230.

 During the year ended December 31, 2024, the Company issued $ 358,543 in stock out of the 2023 balance
and the Company entered into agreements to issue stock with a fair value of $ 756,250 for 625,000 shares of stock and a settlement agreement
for the cash value of $ 875,000 for 1,594,097 shares of stock. The balance at year end December 31, 2024 is $ 1,997,936.

 Note 13 - Warrants and Options

 Warrants

the year ended December 31, 2024, the Company reached a settlement with Bigger Capital Fund LP, ("Bigger") for a resolution
to all issues and claims that relate to the previously filed action against the Company in the Supreme Court of the State of New York,
New York County, Index No. 65018/2024 (see Note 14). Under the terms of the Settlement the Company agreed to cancel 1,656,050 original
warrants with an exercise price of $ 1.40 held by Bigger in exchange for 5,332,889 "exchange" warrants with an exercise price
of $ 0.4348. The fair value of the exchange warrants is $ 2,732,329 which is offset by the unamortized value of $ 439,028 of the original
warrants.

 Schedule of Fair Value Using Black Scholes Method

 Reporting
 Date

 Relative
 Fair
 Value

 Term

 Price

 Market

Price on
 Grant
 Date

 Volatility

 Risk-free
 Rate

 1/17/25

 $
 2,732,329

 $
 0,4348

 $
 0,5435

 %

 0.0442

 PIPE Warrants:
On January 19, 2023, in a private placement, the Company entered into a Securities Purchase Agreement (the "PIPE Agreement")
with certain purchasers, for the issuance of 9,260,361 common stock warrants (the "PIPE Offering") at a price of $ 0.125 per
warrant, comprised of two common stock warrants (the "Common Warrants,"), each to purchase up to one share of Common Stock
per Common Warrant with an exercise price of $ 1.00 per share, with (a) 4,315,787 Common Warrants being immediately exercisable for three
years following 6 months from the closing of the PIPE Offering, and (b) 4,315,787 Common Warrants being immediately exercisable for five
years following 6 months from the closing of the PIPE Offering. On February 15, 2023, the Company filed an S-1 Registration Statement
(File No. 333-269794) covering the underlying shares of the Warrants.

 Schedule of Fair Value Using Black Scholes Method

 Relative

 Term

 Market
 Price on Grant

 Volatility

 Risk-free

 Reporting Date

 Fair Value

 Price

 Date

 Rate

 01/23/23

 $
 2,311,614

 $
 1.00

 $
 0.65

 %

 0.0388

 01/23/23

 $
 2,602,996

 $
 1.00

 $
 0.65

 %

 0.0361

ended December 31, 2023, the Company entered into four Investor Relations Consulting Agreements under the terms of which the Company
issued a total of 1,000,000 five-year warrants, with an exercise price between $ 1.00 and $ 1.40. The Company recorded an expense of $ 364,960
in connection with this issuance.

 Schedule of Fair Value Using Black Scholes Method

 Relative

 Term

 Market
 Price
 on

 Volatility

 Risk-free

 Reporting
 Date

 Fair
 Value

 Price

 Grant Date

 Rate

 08/10 - 08/21/23

 $
 364,960

 $
 1.00
 - 1.40

 $
 0.87 - 1.18

 %

 0.0421 - 0465

 10/05/23

 $
 545,703

 $
 1.00 - 6.00

 $
 1.05

 %

.0468

 F- 20

 The following
tables summarize all warrants outstanding as of December 31, 2024 and 2023, and the related changes during the period. Exercise
price is the weighted average for the respective warrants at end of period.

 Summary of Warrant Outstanding

 Number of Warrants

 Wtd. Average Exercise Price

 Balance at December 31, 2022

 15,958,126

 1.81

 Warrants issued in Public Offering

 9,260,554

 0.93

 Warrants issued for services

 1,000,000

 2.69

 Warrants exercised in connection with Convertible notes

 ( 1,200,000
)

 ( 0.93
)

 Warrants exercised in connection with PIPE

 ( 10,266,845
)

 ( 0.93
)

 Balance at December 31, 2023

 14,751,835

 $
 2.00

 Warrants cancelled in the Bigger Settlement

 ( 1,656,050
)

 ( 1.40
)

 Warrants issued in the Bigger Settlement

 5,332,889

 0.43

 Warrants issued in a private placement

 3,370,787

 0.89

 Warrant conversions

 ( 2,996,127
)

 ( 1.32
)

 Balance at December 31, 2024

 18,803,334

 $
 1.52

 Warrants Exercisable at December 31, 2024

 18,803,334

 $
 1.52

 Stock Options

 During the
year ended December 31, 2024, the Company granted a total of 5,555,000 five -year
options to employees of the Company of which 1,435,000 have vesting schedule from one to three years with an exercise price between
$ 1.06 and
$ 2.01 and
 4,120,000 which vested immediately upon grant with an exercise price of $ 1.79.
During the same period, the Company also granted a total of 5,120,000 five -year options to consultants to the Company, which have
vesting schedule from six months to one year with an exercise price between $ 1.00 and $ 2.32. The total fair value of the options is
$ 17,372,444. The fair value of the options is being amortized over the vesting period. The Company recognized $ 14,735,228
expense related to the options for the year ended December 31, 2024.

 The fair value
of these options were measured using the Black-Scholes valuation model at the grant date. The table below sets forth the assumptions for
Black-Scholes valuation model on the respective reporting date. For options granted to employes, we use a plain vanilla Black-Scholes calculation to calculate fair value with standard market inputs.

 Schedule of Fair Value Using Black Scholes Method

 Number
 of

 Term

 Grant

 Market
 Price
 on Volatility

 Reporting
 Date

 Options

 Price

 Date

 Fair
 Value

 1/16
 – 6/26/24

 5,555,000

 2.5

 $
 1.06
 – 1.96

 $
 1.06 – 1.96

 119 % - 121
 %

 $
 6,734,613

 1/17 – 9/10/24

 5,120,000

 5 - 10

 $
 1.00
 – 2.37

 $
 1.00 – 2.37

 155 % - 162
 %

 10,637,831

ended December 31, 2023, the Company entered into five employment and director agreements under the terms of which the Company issued
 400,000 five-year options, with quarterly vesting, with an exercise price between $ 0.49 and $ 1.13 and 50,000 three-year options, immediately
vesting with an exercise price of $ 0.46. The total fair value of the options $ 202,638. The fair value of the options is being amortized
over the vesting period. The Company recognized $ 39,444 expense for the year ended December 31, 2023.

 The fair value
of these options was measured using the Black-Scholes valuation model at the grant date. The table below sets forth the assumptions
for Black-Scholes valuation model on the respective reporting date.

 Number of

 Term

 Grant

 Market Price
 on Volatility

 Reporting
 Date

 Options

 Price

 Date

 Fair
 Value

 7/10 - 8/18/23

 450,000

 3 - 5

 $
 0.46 - 1.13

 $
 0.46 - 1.13

 158 - 160 %

 $
 271,547

 At December 31, 2024 the Company had
 18,521,166 options outstanding.

 Schedule
of Option Outstanding

 Options

 Wtd. Ave. Ex Price

 Balance at December 31, 2022

 7,515,166

 $
 1.19

 Options exercised

 -

 -

 Options Granted

 550,000

 0.91

 Balance at December 31, 2023

 8,065,166

 1.17

 Options exercised

 ( 219,000
)

 ( 0.42
)

 Options Granted

 10,675,000

 1.99

 Balance at December 31, 2024

 18,521,166

 $
 1.65

 F- 21

 Note 14 -
 Commitments and Contingencies

 The Company entered
into a new office lease Effective July 1, 2021. The primary term of the lease is five years with one renewal option for an additional
three years. Minimum annual lease payments for the primary term and one renewal are as follows:

 Schedule of Minimum Annual Lease Payments

 Primary
 Period

 Renewal Period

 July 1 to June 30, 2022

 $
 180,456

 July 1 to June 30, 2027

 $
 240,662

 July 1 to June 30, 2023

 $
 201,260

 July 1 to June 30, 2028

 $
 247,882

 July 1 to June 30, 2024

 $
 224,330

 July 1 to June 30, 2029

 $
 255,319

 July 1 to June 30, 2025

 $
 229,312

 July 1 to June 30, 2026

 $
 233,653

 Under the new
standard for lease reporting, the Company recorded a Right of Use Asset ("ROU") and an offsetting lease liability of
$ 870,406 representing
the present value of the future payments under the lease calculated using an 8 %
discount rate (the current borrowing rate of the company). The ROU and lease liability are amortized over the five-year life of the
lease. The unamortized balances at December 31, 2023 were ROU asset of $ 479,027,
current portion of the lease liability of $ 214,752 and
non-current portion of lease liability of $ 304,907. The unamortized balances at December 31, 2024 were ROU asset of $ 299,722,
current portion of the lease liability of $ 212,964 and non-current portion of lease liability of $ 114,148.

 Additionally,
the Company recognized accreted interest expense of $ 34,655 and $ 49,010 and rent expense of $ 267,735 and $ 213,960 for the lease during
the year ended December 31, 2024 and 2023, respectively.

 Legal
Proceedings

 The Company may
be subject to legal proceedings and claims arising from contracts or other matters from time to time in the ordinary course of business.
Management is not aware of any pending or threatened litigation where the ultimate disposition or resolution could have a material adverse
effect on its financial position, results of operations or liquidity.

 On
November 30, 2023, Intracoastal Capital, LLC ("Intracoastal") filed a lawsuit against the Company in the New York County
Supreme Court, alleging that (i) the Company is in breach of a common stock warrant issued to Intracoastal on or about July 26, 2021,
and (ii) that the Company should be ordered by the court to deliver to Intracoastal 330,619 free trading shares of Company common stock
(the "Intracoastal Litigation"). The Intracoastal Litigation seeks compensatory damages in an amount no less than $ 2 million,
in addition to liquidated damages and attorney's fees. On January 14, 2025, the Company settled all issues and claims relating
to the Intracoastal Litigation pursuant to the terms of the Intracoastal Settlement Agreement. Under the Intracoastal Settlement Agreement,
the Company agreed to issue to Intracoastal Capital the following: (i) the Intracoastal Settlement Shares and (ii) a settlement payment
of $ 175,000. The number of Intracoastal Settlement Shares shall be the greater of the Initial Share Amount or the Adjusted Share Amount.
The Intracoastal Settlement Agreement is filed herein as Exhibit 10.33.

 On
September 5, 2023, "Sabby" Volatility Warrant Master Fund Ltd. filed a lawsuit against the Company in the federal district
court for the Southern District of New York case captioned Sabby Volatility Warrant Master Fund Ltd. v. Jupiter Wellness, Inc., No.1:23-cv-07874-KPF
(the "Litigation"). Sabby's initial complaint in the Litigation alleges that the Company's delayed spin-off and
distribution of the common stock of "SRM" Entertainment. Inc. give rise to claims of breach-of-contact, promissory estoppel,
and negligent misrepresentation. On November 10, 2023, Jupiter sought judicial permission to move to dismiss Sabby's complaint,
arguing that Sabby had no legal right to the delayed distribution occurring on the original record date, and that regardless, no law
requires the Company to compensate Sabby for the costs of covering its short position against the Company. In response, the Court allowed
the parties to bypass that dismissal motion briefing so long as Sabby filed an amended complaint by December 15, 2023.

 Sabby
seeks compensatory damages estimated to exceed $ 500,000. The Company has filed a motion to dismiss Sabby's amended complaint and
is awaiting the Court's ruling. The Company intends to vigorously defend itself against Sabby's claims and does not believe
that the Litigation's ultimate disposition or resolution will have a material adverse effect on the Company's financial position,
results of operations or liquidity. The case was dismissed with prejudice by the federal district court for the Southern District of
New York on September 23, 2024. On October 10, 2024, Sabby filed an appeal of the Southern District's dismissal to the United States
Court of Appeals for the Second Circuit. The Company is awaiting the decision from the Court of Appeals for the Second Circuit.

 On
February 9, 2024, "Sabby" Volatility Warrant Master Find Ltd. sued the Company in the federal district court for the Southern
District of New York, case captioned, Sabby Volatility Warrant Master Fund Ltd. v. Safety Shot, Inc., No. 1:24-cv-920-NRB (the "Litigation").
Sabby's initial complaint alleges that the Company has improperly refused to honor Sabby's exercise of a Warrant to acquire
2,105,263 shares of common stock. On March 8, 2024, Sabby filed an amended complaint. The Company has answered the amended complaint
is due on March 29, 2024. Sabby seeks "liquidated and compensatory damages in an amount to be proven at trial," including
compensatory damages "estimated to be at least $ 750,000," liquidated damages "estimated to be at least $ 600,000,"
specific performance, attorneys' fees, expenses and costs. The Company intends to vigorously defend itself against Sabby's
claims and does not believe that the Litigation's ultimate disposition or resolution will have a material adverse effect on the
Company's financial position, results of operations or liquidity.

 On
January 16, 2024, 3i LP ("3i"), filed a lawsuit against the Company in the Supreme Court of the State of New York in the
County of New York, case captioned, 3i LP v. Safety Shot, Inc. No. 650196/24 (the "Litigation"). The case stems from the
Company's alleged denial of 3i's attempt to exercise certain warrants and states causes of action for actual damages and
liquidated damages in an amount of approximately $ 380,000. The Company filed its answer to the complaint on or about March 7, 2024. The
Company intends to defend itself vigorously against Sabby's claims and does not believe that the Litigation's ultimate disposition
will have a material adverse effect on the Company's financial position, results of operations or liquidity.

 On
January 10, 2024, Bigger Capital Fund, L.P. ("Bigger Capital"), filed a lawsuit against the Company in the Supreme Court
for the State of New York, Case No. 650148/2024 (the "Bigger Litigation"). The Litigation stemmed from the Company's
warrant to purchase 1,656,050 shares of Company common stock issued to Bigger Capital on July 20, 2021, and asserts causes of action
for Breach of Contract, Specific Performance and Declaratory Relief. Pursuant to the Bigger Litigation, Biggar capital sought compensatory
damages of $ 3 million, liquidated damages in an estimated amount of $ 4 million, specific performance, attorney's fees and declaratory
relief.

 F- 22

 On
January 20, 2025, the Company entered into the Bigger Settlement Agreement. In exchange for a resolution to all issues and claims that
relate to the previously filed action against the Company in the Supreme Court of the State of New York, New York County, Index No. 65018/2024.
Pursuant to the Bigger Settlement Agreement, the Company agreed to pay or issue to Bigger Capital the following: (i) pay Bigger Capital
$ 375,000; (ii) issue a secured convertible note in the principal amount of $ 1.75 million maturing on December 31, 2026 (the "Secured
Convertible Bigger Note"); (iii) a convertible note in the principal amount of $ 3.5 million maturing June 30, 2025 (the "Convertible
Bigger Note," and, together with the Secured Convertible Bigger Note, the "Bigger Notes"); and (iv) 5,332,889 shares
of common stock issuable upon the exercise of common stock purchase warrants to purchase shares of common stock of the Company at an
exercise price of $ 0.4348 per share (the "Bigger Warrants"). A significant shareholder of the Company and Bigger Capital
entered into a voting agreement in favor of Bigger Capital in addition to the Bigger Settlement Agreement. The Bigger Settlement Agreement
is filed herein as Exhibit 10.32. The Secured Convertible Bigger Note is filed herein as Exhibit 4.5 and the Convertible Bigger Note
is filed herein as Exhibit 4.6.

 On or about January
18, 2024, Alta Partners, LLC, ("Alta") filed a lawsuit against the Company in the federal district court for the Southern
District of New York, case captioned, Alta Partners, LLC v. Safety Shot, Inc. No. 24-cv-373 (S.D.N.Y.) (the "Litigation").
The Litigation stems from the Company's warrant to purchase shares of Company common stock and asserted causes of action for Breach
of Contract Breach of the Implied Covenant of Good Faith and Fair Dealing (in the alternative) and violation of Section 11 of the Securities
Act of 1933. The Litigation sought compensatory general and liquidated damages in an amount to be proven at trial. On or about January
29, 2025, the Company settled the Litigation by agreeing to pay $ 350,000 in exchange for a release of all claims by Alta.

 On December 8,
2023, the Company filed a lawsuit against Capybara Research ("Capybara"), Igor Appelboom ("Appelboom," and together
with Capybara Research, the "Capybara Parties") and Accretive Capital LLC d/b/a Benzinga ("Capybara Parties and Accretive,
together, the "Capybara Defendants") in the United States District Court for the Southern District of New York. The Company's
complaint alleges that (i) the Capybara Parties are liable for securities fraud to the Company for making false representations that
were made to manipulate the price of the Company's common stock to the benefit of the Capybara Parties, and (ii) the Capybara Defendants
are liable for tortious interference with prospective business relations to the Company by misleading the investing public to—absent
a legitimate basis and, instead, for the benefit of the Capybara Defendants—take short positions against Company common stock to
wrongfully depress the price of the same. On March 18, 2024, the United District Court for the Southern District of New York, awarded
the Company a Default Judgment in its lawsuit against Capybara Research and Igor Appelboom for Securities Fraud and Tortious Interference
for the defendants' defamatory, unfounded and malicious article titled, Safety Shot Exposed $SHOT, Boca Raton Snake Oil: Unraveling
the Fraud behind the Drink and Its Dubious Origins. In a separate settlement agreement, Defendant Accreative Capital LLC d/b/a Benzinga,
agreed to retract and remove the defamatory story from its website and cease from any future publication.

 On March 18, 2024,
the United District Court for the Southern District of New York, awarded the Company a Default Judgment in its lawsuit against Capybara
Research and Igor Appelboom for Securities Fraud and Tortious Interference for the defendants' defamatory, unfounded and malicious
article titled, Safety Shot Exposed $SHOT, Boca Raton Snake Oil: Unraveling the Fraud behind the Drink and Its Dubious Origins. In a
separate settlement agreement, Defendant Accreative Capital LLC d/b/a Benzinga, agreed to retract and remove the defamatory story from
its website and cease from any future publication.

 On January 19,
2024, Coachella Music Festival, LLC filed a lawsuit against the Company in the federal district court for the Central District of California,
Case No. 2:24-cv-537 (the "Litigation"). The Litigation asserts causes of action for Trademark Infringement under 15 U.S.C.
Section 1114; False Designation of Origin under 15 U.S.C. Section 1125; False Advertising under 15 U.S.C. Section 1125; violations of
Cal. Bus. & Prof. Code Sections 17200 & 17500; Inducement of Trespass; Conversion; and Trespass to Chattels. The Litigation seeks
injunctive relief, profits resulting from the Company's alleged infringement, the value of a Coachella beverage sponsorship, costs
of corrective advertising, attorney's fees and punitive damages. On or about February 26, 2024, the parties reached a settlement
in this matter. As part of the settlement, the Company agreed to terminate all activities in connection with the Festival, and stipulated
to the entry of a permanent injunction and final judgment and a monetary payment that does not have a material adverse effect on the
Company's financial position, results of operations or liquidity.

 The Company may
be subject to legal proceedings and claims arising from contracts or other matters from time to time in the ordinary course of business.
Management is not aware of any pending or threatened litigation where the ultimate disposition or resolution could have a material adverse
effect on its financial position, results of operations or liquidity.

 Note
15 - Subsequent Events

 Subsequent to
December 31, 2024, the Company issued a total of 3,586,119 shares of its common stock, consisting of 500,000 shares for services and
the balance upon conversion of warrants.

 Subsequent to
December 31, 2024, The Company had developments in certain legal and litigation matters which are included and detailed in Legal
Proceedings above.

 In accordance
with ASC Topic 855-10, the Company has analyzed its operations subsequent to December 31, 2024 to the date these financial statements
were issued and has determined that it does not have any additional material subsequent events to disclose in these financial statements.

 F- 23