Company: SIDU
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010989
Chunk: 71

Company: Sidus Space Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 71
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 was made, between the Company and Craig Technical Consulting, Inc. The
period of performance for this Agreement was December 1, 2021, through November 30, 2022. The agreement was amended, and the term of
agreement was extended to June 30, 2025.

During
the three months ended March 31, 2025 and 2024, the Company recorded professional services of $34,288 and $37,637, respectively.

Sublease

On
August 1, 2021, the Company entered into a Sublease Agreement with its related party and a principal shareholder (“Sublandlord”),
whereby the Company shall sublease certain offices, rooms and shared use of common spaces located at 150 Sykes Creek Parkway, Merritt
Island, FL. The Lease is a month-to-month lease and may be terminated with 30 days’ notice to the Sublandlord. 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 three months
ended March 31, 2025 and 2024, the Company recorded $20,510 and $18,331 directly related to this short-term month to month lease to lease
expenses.

Note
13. 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