Company: IMNN
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009572
Chunk: 16

Company: Imunon, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 of outstanding warrants at March 31, 2025  
    $-  

    Weighted average remaining contractual terms at March 31, 2025  
     4.7 years  

Note 10. Leases 

Lawrenceville, New Jersey Lease

In August 2023, the Company renewed its Lawrenceville
office lease for a 24-month agreement for 9,850 square feet with monthly rent payments of approximately $22,983 to $23,394. In April 2025,
the Company renewed its Lawrenceville office lease until November 30, 2028 for 4,359 square feet (to be reduced to 4,011 following April
1, 2026) with monthly rent payments of approximately $10,361 to $10,863.

Huntsville, Alabama Lease

In January 2023, the Company renewed its Huntsville
facility lease for a 60-month lease agreement for 11,420 square feet with monthly rent payments of approximately $28,550 to $30,903.

The following is a table of the lease payments and
maturity of the Company’s operating lease liabilities as of March 31, 2025:

 Schedule of Lease Payments and Maturity of Operating Lease Liabilities

    2025 
    $384,300 
  
    2026 
     362,976 
  
    2027 
     370,235 
  
    2028 and thereafter 
     30,903 
  
    Subtotal future lease payments 
     1,148,414 
  
    Less imputed interest 
     (140,366)
  
    Total lease liabilities 
    $1,008,048 

    Weighted average remaining life 
     2.59 

    Weighted average discount rate 
     9.98%

For the three-month period ended March 31, 2025, operating
lease expense was $165,232 and cash paid for operating leases included in operating cash flows was $165,231. For the three-month period
ended March 31, 2024, operating lease expense was $154,514 and cash paid for operating leases included in operating cash flows was $162,545.

Note 11. Commitments and Contingencies 

We are not currently a party to any material legal
proceedings.

Note 12. Subsequent Events 

The Company has evaluated its subsequent events from
March 31, 2025