Company: SIDU
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023543
Chunk: 18

Company: Sidus Space Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 18
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 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) NGSO satellite filing(s) via the Vendor. The Reservation Fee is
levied on the date the filing(s) is received at the International Telecommunication Union (ITU). The Reservation Fee is payable annually
at the anniversary of the date of receipt, as long as the customer retains the NGSO filing(s). The Reservation Fee payment continues
to be payable until any of the frequency assignments of the NGSO filing(s) are brought into use. Upon the submission to the ITU to bring
into use any of the frequency assignments of a given constellation, an annual License Fee of $120,000 shall be paid in lieu of the Reservation
Fee. On February 1, 2021, the Vendor submitted the license filing to the ITU and on April 6, 2021, the ITU published the license filing
for LIZZIE IOMSAT. Payments began in February 2021. For the nine months ended September 30, 2025 and 2024, the Company recorded payments
of $135,000 and $90,000 in Other General and Administrative expenses. These are eliminated upon consolidation.

    20

Note
14. Stockholders’ Equity

Authorized
Capital Stock

The
Company has authorized 5,000,000 shares of preferred stock with a par value of $0.0001.

The
Company has authorized 210,000,000 shares of common stock with a par value of $0.0001, consisting of 200,000,000 shares of Class A common
stock and 10,000,000 shares of Class B common stock. The Class B common stock is entitled to ten votes and is convertible at any time
into one share of Class A common stock.

Class
A Common Stock

The
Company had 35,147,483 and 15,956,816 shares of Class A common stock issued and outstanding as of September 30, 2025 and December 31,
2024, respectively.

July
2025 Public Offering

On
July 29, 2025,