Company: INDP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021759
Chunk: 8

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 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 were 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 condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles
generally accepted in the United States of America (“US GAAP”) and SEC Regulation S-X Article 10 for interim financial statements.
Accordingly, they do not contain all the information and notes required by US GAAP for annual financial statements. In the opinion of
management, these unaudited condensed consolidated interim financial statements reflect all adjustments, which include normal recurring
adjustments, necessary for a fair statement of the Company’s consolidated financial position as of September 30, 2025, and the
consolidated results of operations and changes in stockholders’ equity for the three- and nine-month periods ended September 30,
2025 and 2024 and cash flows for the nine-month periods ended September 30, 2025 and 2024.

These
unaudited