Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 583

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 3
Chunk 583
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 these consolidated financial statements, it has adequate cash to fund its ongoing activities into the second quarter of
2025 based on its current operating plan. The Company plans to execute its operating plan by obtaining additional capital, principally
through entering into collaborations, strategic alliances, or license agreements with third parties and/or additional public or private
debt and equity financing, such as through the registered direct offerings and concurrent private placements that the Company completed
in August 2024 (the “August 2024 Offering”) and in November 2024 (the “November 2024 Offering”), and through
the private placement in January 2025 (the “January 2025 Offering”). Following these offerings, the Company raised a total
of approximately $6.3 million, net of placement agent and other offering expenses in the amount of approximately $1.1 million. For more
details, see Note 6(c), 6(d) and 6(e). In addition, in February 2025, the Company entered into a Standby
Equity Purchase Agreement pursuant to which the Company has the right, but not the obligation, to sell up to $20.0 million of
the Company’s common stock during a 36-month period, subject to the restrictions and satisfaction of the conditions in the
Standby Equity Purchase Agreement. For more details, see Note 6(f). However, there is no assurance that additional capital and/or
financing will be available to the Company, and even if available, whether it will be on terms acceptable to the Company or in the amounts
required. If the Company is unsuccessful in securing sufficient financing, it may need to delay, reduce, or eliminate its research and
development programs, which could adversely affect its business prospects, or cease operations.

As
a result of these uncertainties, there is substantial doubt about the Company’s ability to continue as a going concern. The 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.

NOTE
2: SIGNIFICANT ACCOUNTING POLICIES

Basis
of presentation

The
consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the
United States of America (“US GAAP”).

    F-7

Principles
of consolidation

The
consolidated financial statements include the accounts of Indaptus and its subsidiaries. Intercompany balances and transactions have
been eliminated