Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 163

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 163
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 January 31, 2022, $4,707
from February 1, 2022 to January 31, 2023 and $4,847
from February 1, 2023 to January 31, 2024. On February 1, 2024, the Company extended the month-to-month Sublease agreement. The
monthly rent shall be $4,618.03
from February 1, 2024 to January 31, 2025, $4,756.57
from February 1, 2025 to January 31,2026 and $4,899.27
from February 1, 2026 to January 31, 2027. A common area maintenance fee (CAM) will be charged in addition to the monthly rent.
During the years ended December 31, 2024 and 2023, the Company recorded $79,005
and $58,024
directly related to this short-term month to month lease to lease expenses.

Note
14. Commitments and Contingencies

Litigation

From
time to time, the Company may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business.
We are currently not aware of any such legal proceedings or claims that will have, individually or in aggregate, a material adverse effect
on our business, financial condition, or operating results.

License
Agreement

The
consolidated financial statements include Aurea Alas Limited, which is a variable interest entity of which we are the primary beneficiary
(see Note 3). On August 18, 2020, Aurea entered into a license agreement with a third-party vendor (the “Vendor”), whereby
they licensed the rights to use certain available radio frequency spectrum for satellite communications. The Company shall pay an annual
Reservation Fee of $120,000 while the Company pursues up to four (4) NGSO satellite filing(s) via the Vendor. The Reservation Fee is
levied on the date the filing(s) is received at the International Telecommunication Union (ITU). The Reservation Fee is payable annually
at the anniversary of the date of receipt, as long as the customer retains the NGSO filing(s). The Reservation Fee payment continues
to be payable until any of the frequency assignments of the NGSO filing(s) are brought into use. Upon the submission to the ITU to bring
into use any of the frequency assignments of a given constellation, an annual License