Company: INDP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023333
Chunk: 39

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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As
a result of these uncertainties, there is substantial doubt about the Company’s ability to continue as a going concern. The
unaudited condensed consolidated financial statements do not include any adjustments to the carrying amounts and classifications of
assets and liabilities that would result if the Company was unable to continue as a going concern.

Reverse
Split

On
June 26, 2025, the Company effected a 1-for-28
reverse stock split of its common stock with the Company’s shares and began trading on a post-split basis on the Nasdaq
Capital Market on June 27, 2025, which resulted in the Company regaining compliance with the Nasdaq minimum bid price requirement.
As a result of the reverse stock split, every 28 shares of outstanding common stock was combined into one share of common stock. The
reverse stock split decreased the Company’s outstanding common stock from 16,946,528
shares to 604,963
shares as of that date. In addition, a proportionate adjustment was made to the per share exercise price and the number of shares
issuable upon the exercise of all outstanding options and warrants entitling the holders to purchase common stock. All share and per
share amounts in these unaudited condensed consolidated financial statements have been retroactively adjusted to reflect the reverse
stock split.

    F-5

NOTE
2: SIGNIFICANT ACCOUNTING POLICIES

Basis
of presentation

The
unaudited interim condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles
generally accepted in the United States of America (“US GAAP”) and SEC Regulation S-X Article 10 for interim financial statements.
Accordingly, they do not contain all the information and notes required by US GAAP for annual financial statements. In the opinion of
management, these unaudited condensed consolidated interim financial statements reflect all adjustments, which include normal recurring
adjustments, necessary for a fair statement of the Company’s consolidated financial position as of June 30, 2025, and the consolidated
results of operations and changes in stockholders’ equity for the three- and six-month periods ended June 30, 2025 and 2024 and
cash flows for the six-month periods ended June 30, 2025 and 2024.

These
unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements
and notes thereto included in the Company’s Annual Report on Form 10-K for