Company: INDP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023333
Chunk: 1

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 1
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SEPA”). During the six-month period ended June 30, 2025, the Company
raised under the SEPA net proceeds of approximately $1.75 million, after deducting offering expenses in the amount of approximately
$0.1 million. For more details, see Note 6(c). In June 2025, the Company raised total gross proceeds of approximately $5.7 million through the issuance of convertible
notes. Placement agent fees and other offering-related expenses totaled approximately $0.8 million. For more details, see Note 7. However, there is no assurance that additional capital and/or financing
will be available to the Company, and even if available, whether it will be on terms acceptable to the Company or in the amounts
required. If the Company is unsuccessful in securing sufficient financing, it may need to delay, reduce, or eliminate its research
and development programs, which could adversely affect its business prospects, or cease operations.

As
a result of these uncertainties, there is substantial doubt about the Company’s ability to continue as a going concern. The
unaudited condensed consolidated financial statements do not include any adjustments to the carrying amounts and classifications of
assets and liabilities that would result if the Company was unable to continue as a going concern.

Reverse
Split

On
June 26, 2025, the Company effected a 1-for-28
reverse stock split of its common stock with the Company’s shares and began trading on a post-split basis on the Nasdaq
Capital Market on June 27, 2025, which resulted in the Company regaining compliance with the Nasdaq minimum bid price requirement.
As a result of the reverse stock split, every 28 shares of outstanding common stock was combined into one share of common stock. The
reverse stock split decreased the Company’s outstanding common stock from 16,946,528
shares to 604,963
shares as of that date. In addition, a proportionate adjustment was made to the per share exercise price and the number of shares
issuable upon the exercise of all outstanding options and warrants entitling the holders to purchase common stock. All share and per
share amounts in these unaudited condensed consolidated financial statements have been retroactively adjusted to reflect the reverse
stock split.

    F-5

NOTE
2: SIGNIFICANT ACCOUNTING POLICIES

Basis
of presentation

The
unaudited interim condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles