Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 588

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 3
Chunk 588
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 for interim periods beginning after December 15, 2024. The Company adopted this new standard effective December 31, 2024. See
Note 9, Segment Information, for disclosures related to the adoption of ASU 2023-07.

    F-10

Recently
issued accounting pronouncements

In
November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation  Disclosures.
This ASU will require entities to provide enhanced disclosures, in a tabular format, related to certain expense categories included in
the statement of operations. The ASU aims to increase transparency and provide investors with more detailed information about the nature
of expenses reported on the face of the income statement. The new ASU is effective for annual reporting periods beginning after December
15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating
the impact of the adoption of this standard on the related disclosures

In
December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures. This ASU does not change accounting for income
taxes but requires new disclosures focusing on two areas, the effective rate reconciliation and taxes paid. This new standard is effective
for public business entities for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company is currently
evaluating the impact of the adoption of this standard on the related disclosures.

NOTE
3: PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid
expenses and other current assets are comprised of the following:

SCHEDULE
OF PREPAID EXPENSE AND OTHER CURRENT ASSETS 

    2024  
    2023 

    For the year ended December 31, 

    2024  
    2023 
  
    Prepaid insurance 
    $506,489  
    $554,097 
  
    Prepaid research and development 
     150,000  
     17,309 
  
    Other prepaid expenses 
     175,088  
     61,750 
  
    Total prepaid expenses and other current assets 
    $831,577  
    $633,156 
  
    Prepaid expenses and other current assets 
    $831,577  
    $633,156 

NOTE