Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 95

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 12
Chunk 95
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 at year-end for the last two completed fiscal years, and in which any of our directors, executive officers or, to our
knowledge, beneficial owners of more than 5% of our capital stock or any member of the immediate family of any of the foregoing persons
had or will have a direct or indirect material interest, other than equity and other compensation, termination, change in control and
other arrangements, which are described elsewhere in this prospectus. We are not otherwise a party to a related party transaction, and
no transaction is currently proposed, in which the amount of the transaction exceeds the lesser of $120,000 or 1% of the average of our
total assets at year-end for the last two completed fiscal years and in which a related person had or will have a direct or indirect
material interest.

Our
corporate headquarters is located at 150 N. Sykes Creek Parkway, Suite 200 Merritt Island, Florida 32953. We occupy facilities totaling
approximately 3500 square feet under a sublease from Craig Technical Consulting, Inc., a principal stockholder and an entity owned and
controlled by our Chief Executive Officer, Carol Craig (“CTC”), pursuant to a commercial sublease agreement (the “Lease
Agreement”), dated February 1, 2024. The Lease Agreement is a month-to-month lease and may be terminated with 30 days’ notice.
We currently pay $4,757 + CAM per month which includes applicable sales and use tax, which is currently 6.5% in Brevard County.

As
of December 31, 2024 and 2023, we owed $527,476 to CTC for cash advances made to the Company. The advances are unsecured, due on demand
and non-bearing-interest.

On
May 1, 2021, we converted $4 million in intercompany accounts receivable owed to CTC into a related party note payable (the “Note”)
which included $1.1 million in payments toward a loan (the “CTC-Decathlon Note) to CTC and us by Decathlon Alpha IV, L.P., or Decathlon.
The principal balance of this Note outstanding (together with any accrued, but unpaid interest thereon) bears interest at a per annum
interest rate equal to the long term Applicable Federal Rate (as such term is defined in Section 1274(d) of the Internal Revenue Code
of 1986, as amended), and matures on September 30