Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 204

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 204
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 material incidents with the Audit Committee.

While we have not experienced
any material cybersecurity threats or incidents in recent years, there can be no guarantee that we will not be the subject of future
threats or incidents. Notwithstanding the extensive approach we take to cybersecurity, we may not be successful in preventing or mitigating
a cybersecurity incident that could have a material adverse effect on us. While we maintain cybersecurity insurance, the costs related
to cybersecurity threats or disruptions may not be fully insured. See “Risk Factors” for a discussion of cybersecurity risks.

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ITEM 2. PROPERTIES

Our corporate headquarters is located at 150 N. Sykes
Creek Parkway, Suite 200, Merritt Island, Florida 32953. We occupy facilities totaling approximately 3,500 square feet under a sublease
from Craig Technical Consulting, Inc., a related party and an entity owned and controlled by our Chief Executive Officer, Carol Craig,
pursuant to a commercial sublease agreement (the “Lease Agreement”), dated August 1, 2021 and amended February 1, 2024. The
amended Lease Agreement is month to month with up to  a 3-year term. We currently pay $4,618 plus CAM per month plus applicable sales and use tax, which
is currently 3.0% in Brevard County. We believe this location is adequate for our current operations and needs.

In addition, our manufacturing spaces are located
at 175 Imperial Boulevard, Cape Canaveral, FL 32920 and 400 Central Boulevard, Cape Canaveral, FL 32920. We are under lease agreements
with 400 W. Central, LLC for these spaces. The Lease agreements for 175 Imperial Boulevard and 400 W. Central Boulevard currently have
concurrent lease terms with one year options that end on May 31, 2025. We pay a combined amount of $24,643 per month plus applicable
sales and use tax, which is currently 3.0% in Brevard County. We have a total of approximately 35,000 square feet of leased space in
these buildings. We believe our manufacturing spaces are adequate for our current operations and will allow for expected initial growth.

ITEM 3. LEGAL PROCEEDINGS

From time to time, we may become involved in various
lawsuits and legal proceedings, which arise in the ordinary course of business. Litigation is subject to inherent uncertainties and an
adverse result in these