Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 339

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 1B
Chunk 339
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2024, and 2023, the recorded values of cash and
cash equivalents, prepaid expenses, and accounts payable and other current liabilities approximate their fair values due to the short-term
nature of these items.

Recently
adopted accounting pronouncements

In
November 2023, the FASB issued ASU No. 2023-07, Improvements to Reportable Segment Disclosures. The FASB amended the guidance in ASC
280, Segment Reporting (“ASC 280”), to require a public entity to disclose significant segment expenses and other segment
items on an annual and interim basis and to provide in interim periods all disclosures about a reportable segment’s profit or loss
and assets that are currently required annually. Public entities with a single reportable segment are required to provide the new disclosures
and all the disclosures required under ASC 280. The guidance is applied retrospectively to all periods presented in financial statements
unless it is impracticable. This new guidance is effective for public business entities for annual periods beginning after December 15,
2023, and for interim periods beginning after December 15, 2024. The Company adopted this new standard effective December 31, 2024. See
Note 9, Segment Information, for disclosures related to the adoption of ASU 2023-07.

    F-10

Recently
issued accounting pronouncements

In
November 2024, the FASB issued 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,