Company: SIDU
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010989
Chunk: 102

Company: Sidus Space Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 102
---
,252,552  
    $(5,735,623) 
     (26)%
  
    Current liabilities 
    $14,229,336  
    $14,209,502  
    $19,834  
     0%
  
    Working capital 
    $2,287,593  
    $8,043,050  
    $(5,755,457) 
     (72)%

-36-

Liquidity
is the ability of a company to generate funds to support asset growth, satisfy disbursement needs, maintain reserve requirements, and
otherwise operate on an ongoing basis. We had insufficient operating revenues, so we are currently dependent on debt financing and sale
of equity to fund operations.

We
had an accumulated deficit of approximately $66.8 million and working capital of approximately $2.3 million as of March 31, 2025 compared
to accumulated deficit of approximately $60.3 million and  working capital of approximately $8.0 million as of December 31,
2024. As of March 31, 2025, we had approximately $11.7 million of cash as compared to approximately $15.7 million as of December 31,
2024.

As
of March 31, 2025 the working capital surplus is primarily due to funds raised from warrants exercised from the December 2024 capital
raise of approximately $2.4 million. As of December 31, 2024, our working capital surplus was primarily due to funds raised in our capital
raises completed Q4 2024.

Current
assets decreased by approximately $5.7 million to approximately $16.5 million as of March 31, 2025 from approximately $22.2 million as
of December 31, 2024. The decrease is primarily attributable to a decrease in cash, and prepaid satellite services and licenses.

Current
liabilities remained in line at $14.2 million as of March 31, 2025 and December 31, 2024.

Cash
Flow

    Three Months Ended  

    March 31,  

    2025  
    2024  
    Change  
    % 
  
    Cash used in operating activities 
    $(3,207,213) 
    $(5,418,294) 
    $2,211,081  
     (41)%
  
    Cash used in investing activities 
    $(2,