Company: INDP
Filing Date: 2025-02-12
Form Type: S-1
Source: 0001493152-25-006068
Chunk: 167

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-02-12
Form: S-1
Chunk 167
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 upon examination by authorities. Recognized tax positions are measured at the largest amount of benefit that is greater than 50% likely of being realized upon settlement.As of December 31, 2023 and 2022, the Company has not recorded any unrecognized tax benefits.

The Company records interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expenses. As of December 31, 2023 and 2022, the Company recorded noaccrued interest and penalties related to unrecognized tax benefits. The Company does not expect any significant changes in its tax positions that would warrant recognition of a liability for unrecognized income tax benefits during the next 12 months.

The Company files U.S. federal and various state income tax returns and is subject to the examination for tax years back to 2020 and 2019 for federal and state purposes, respectively, and its NOL’s dating back to inception are subject to adjustment by the taxing authorities if claimed on future tax filings for which the statute remain open to examination. The Company also files Israeli tax returns and is subject to examination for tax years back to 2019. The Company is not currently under audit by the Internal Revenue Service or other similar national, state and local authorities.

NOTE 10: SUBSEQUENT EVENTS

The Company evaluated subsequent events from December 31, 2023, the date of these consolidated financial statements, through March 13, 2024, which represents the date the consolidated financial statements were issued, for events requiring recognition or disclosure in the consolidated financial statements for the year ended December 31, 2023. The Company concluded that no events have occurred that would require recognition or disclosure in the consolidated financial statements, except for the sale of 137,836shares of the Company’s common stock for an aggregate gross proceeds of $ 0.3million as described in Note 7(b).

| F-15 |

<div align='center'>INDAPTUS THERAPEUTICS, INC.

Unaudited Condensed Consolidated Balance Sheets</div>

|                                                                                                                                                                                                                                                    |     |   | September 30, 2024 |   |     |   | December 31, 2023 |   |
|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:--|-------------------:|:--|:----|:--|------------------:|:--|
| Assets                                                                                                                                                                                                                                             |     |   |                    |   |     |   |                   |   |
| Current assets:                                                                                                                                                                                                                                    |     |