Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 747

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 747
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 increase in our asset-based loan liability partially offset by a decrease in account payable and other
current liabilities.

In January 2025 the company issued 2,247,667 shares
of Class A common stock in exchange for warrants exercised from the December 2024 capital raise. The company received funds of approximately
$2.4 million in exchange for the shares issued.

 53 

Cash Flow

    Years Ended  

    December 31,  

    2024  
    2023  
    Change  
    % 
  
    Cash used in operating activities 
    $(15,825,052) 
    $(11,749,442) 
    $(4,075,610) 
     35%
  
    Cash used in investing activities 
    $(7,474,836) 
    $(7,691,844) 
    $217,008  
     (3)%
  
    Cash provided by financing activities 
    $37,787,360  
    $18,362,134  
    $19,425,226  
     106%
  
    Cash on hand 
    $15,703,579  
    $1,216,107  
    $14,487,472  
     1191%

Year ended December 31, 2024 and 2023

For the years ended December 31, 2024 and 2023, we
did not generate positive cash flows from operating activities. For the year ended December 31, 2024, net cash flows used in operating
activities was approximately $15.8 million compared to approximately $11.7 million during the year ended December 31, 2023.

Cash flows used in operating activities for the
year ended December 31, 2024, of approximately $15.8 million is comprised of a net loss of $17.5 million, which was reduced by
non-cash expenses of $289,175 for stock-based compensation related to vested stock and stock options, $87,129 for bad debt expense, approximately $2.2 million for
depreciation and amortization, and an increase in net working capital of approximately $849,000.

Cash flows used in operating activities for the year
ended December 31, 2023, of approximately $11.7 million is comprised of a net loss of $14.3 million, which was reduced by non-cash expenses
of $917,