Company: INDP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021759
Chunk: 20

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 law and employee relations matters. Periodically,
the Company reviews the status of significant matters, if any exist, and assesses its potential financial exposure. If the potential
loss from any claim or legal claim is considered probable and the amount of such potential loss can be estimated, the Company accrues
liability for the estimated loss. Legal proceedings are subject to uncertainties and the outcomes are difficult to predict. Because of
such uncertainties, accruals are based on the best information available at the time. As additional information becomes available, the
Company reassesses the potential liability related to pending claims and litigation.

Leases

Future
minimum annual lease payments and a reconciliation to the Company’s operating lease liability under the Company’s non-cancellable
operating lease as of September 30, 2025 were as follows:

 SCHEDULE OF MINIMUM LEASE PAYMENTS 

    Total minimum lease payments in 2025 
    $8,686 
  
    Less: amount representing interest 
     - 
  
    Present value of operating lease liability 
     8,686 
  
    Less: current portion 
     (8,686)
  
    Operating lease liability, net of current portion 
    $- 

The
Company recognized rent expense of $76,385
during the nine months ended September 30, 2025 and 2024 respectively. The Company recognized rent expense of $25,462
during each of the three months ended September 30, 2025 and 2024, respectively. Total cash payments for the operating lease totaled
$78,176
and $75,899
during the nine months ended September 30, 2025 and 2024, respectively. The lease expired on October 31, 2025.

NOTE
9: SEGMENT INFORMATION

The
Company operates in one business segment, focusing on the development of a novel and patented systemically administered anti-cancer and
anti-viral immunotherapy. The Company’s chief operating decision maker (“CODM”) is the chief executive officer. The
CODM assesses performance for the segment based on operating expenses as reported in the accompanying interim consolidated statements
of operations.

As
such, the CODM uses cash forecast models in deciding how to invest into the segment. Such cash forecast models are reviewed to assess
the entity-wide operating results and performance. Net loss is used to monitor budget versus actual results. Monitoring budgeted versus
actual results is used in assessing performance of the segment.

The