Company: INDP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021759
Chunk: 45

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 45
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 the fair value of the
convertible notes are recognized separately in the statement of operations for each reporting period. For more details, see Note
7.

The
following table summarizes the change in fair value of the Company’s Level 3 liabilities for the three and nine months ended
September 30, 2025:

 SCHEDULE OF CONVERTIBLE DEBT

    Convertible
                                                                               promissory notes 
  
    Fair value, January 1, 2025 
    $- 
  
    Additions 
     5,714,800 
  
    Change in fair value 
     1,153,421 
  
    Conversion of promissory notes into shares and warrants 
     (6,868,221)
  
    Fair value, September 30, 2025 
    $- 

    Convertible promissory notes 
  
    Fair value, July 1, 2025 
    $6,502,503 
  
    Change in fair value 
     365,718 
  
    Conversion of promissory notes into shares and warrants 
     (6,868,221)
  
    Fair value, September 30, 2025 
    $- 

Recently
issued accounting pronouncements

In
November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures.
This ASU will require entities to provide enhanced disclosures, in a tabular format, related to certain expense categories included in
the statement of operations. The ASU aims to increase transparency and provide investors with more detailed information about the nature
of expenses reported on the face of the income statement. The new ASU is effective for annual reporting periods beginning after December
15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating
the impact of the adoption of this standard on the related disclosures.

In
December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures. This ASU does not change accounting for income
taxes but requires new disclosures focusing on two areas, the effective rate reconciliation and taxes paid. This new standard is effective
for public business entities for annual periods beginning after December 15, 2024. Early adoption is permitted. 

NOTE
3