Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 1023

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 1023
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 2024 which includes both our office facility and warehouse space that expires May 31, 2025.
The monthly “Base Rent” is $11,876 and $12,767.

We
recognized total lease expense, primarily related to our operating leases, on a straight-line basis in accordance with ASC 842.

As
of December 31, 2024 and 2023, the Company recorded a refundable security deposit of $10,000 for its warehouse space and is included
in other assets on the balance sheet.

    F-17

The
operating lease expense were as follows:

Schedule
of Operating Lease Expense

    2024  
    2023 

    Years ended December 31, 

    2024  
    2023 
  
    Lease cost 

    Operating lease cost 
    $384,237  
    $353,329 

Supplemental
balance sheet information related to operating leases was as follows:

Summary
of Supplemental Balance Sheet Information

    2024  
    2023 

    December 31, 

    2024  
    2023 
  
    Operating lease right-of-use assets at inception 
    $284,861  
    $1,276,515 
  
    Accumulated amortization 
     (163,316) 
     (1,160,942)
  
    Total operating lease right-of-use assets 
    $121,545  
    $115,573 

    Operating lease liabilities - current 
    $121,544  
    $119,272 
  
    Operating lease liabilities - non-current 
     -  
     - 
  
    Total operating lease liabilities 
    $121,544  
    $119,272 

    Right-of-use assets obtained in exchange for new operating lease liability 
     284,861  
     - 

    Weighted-average remaining lease term — operating leases (year) 
     0.41  
     0.42 
  
    Weighted-average discount rate — operating leases 
     8.25% 
     4.73%

Future
minimum lease payments under operating leases that have initial noncancelable lease terms in excess of one year at December 31, 2024,
were as follows:

Schedule
of Future Minimum Lease Payments Under Operating Leases

    Total 
  
    Year Ended December 31,