Company: INDP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010099
Chunk: 31

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 31
---
, as filed with the SEC on March 13, 2025. The consolidated
balance sheet data as of December 31, 2024, included in these unaudited condensed consolidated financial statements was derived from the
audited financial statements for the year ended December 31, 2024, but does not include all disclosures required by US GAAP for annual
financial statements.

The results for the three-month period ended March
31, 2025, are not necessarily indicative of the results expected for the year ending December 31, 2025.

Principles of consolidation

The unaudited condensed consolidated financial statements
include the accounts of Indaptus Therapeutics, Inc. and its subsidiaries. Intercompany balances and transactions have been eliminated
upon consolidation.

Use of estimates

The preparation of the unaudited condensed consolidated
financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of
expenses during the reporting periods. The most significant estimates relate to the determination of the fair value of stock-based compensation
and the determination of period-end obligations to certain contract research organizations. Management evaluates its estimates and assumptions
on an ongoing basis using historical experience and other factors, including the current economic environment, and adjusts when facts
and circumstances dictate. These estimates are based on information available as of the date of the condensed consolidated financial statements;
therefore, actual results could differ from those estimates.

Loss per share

Loss per share, basic and diluted, is computed on
the basis of the net loss for the period divided by the weighted average number of shares of common stock outstanding during the period.
Diluted loss per share is based upon the weighted average number of shares of common stock and of common stock equivalents outstanding
when dilutive. Common stock equivalents include outstanding stock options and warrants which are included under the treasury stock method
when dilutive.

The following number of stock options and warrants
were excluded from the calculation of diluted loss per share because their effect would have been anti-dilutive for the periods presented
(share data):

SCHEDULE OF ANTI-DILUTIVE SECURITIES 

    Weighted average 

    For the three months  ended March 31, 

    2025  
    2024 
  
    Outstanding stock options 
     2,887,204  
     2,315,272