Company: INDP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021759
Chunk: 12

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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718 
  
    Conversion of promissory notes into shares and warrants 
     (6,868,221)
  
    Fair value, September 30, 2025 
    $- 

Recently
issued accounting pronouncements

In
November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“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. 

NOTE
3: PREPAID EXPENSES AND OTHER CURRENT ASSETS

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

SCHEDULE OF PREPAID EXPENSE AND OTHER CURRENT ASSETS 

    September 30, 2025  
    December 31, 2024 
  
    Prepaid insurance 
    $504,325  
    $506,489 
  
    Prepaid research and development 
     900  
     150,000 
  
    Other prepaid expenses 
     108,129  
     175,088 
  
    Total prepaid expenses and other current assets 
    $613,354  
    $831,577 
  
    Prepaid
    expenses and other current assets 
    $613,354  
    $831,577 

NOTE
4: ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES

Accounts
payable and other current liabilities were comprised of the following:

SCHEDULE OF ACCOUNTS PAYABLE AND OTHER CURRENT LIABILITIES