Company: IMNN
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009572
Chunk: 101

Company: Imunon, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 101
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 0.0%

Expected volatilities utilized in the model are based
on historical volatility of the Company’s stock price. The risk-free interest rate is derived from values assigned to U.S. Treasury
bonds with terms that approximate the expected option lives in effect at the time of grant.

    12

Note 9. Warrants

Following is a summary of all warrant activity for
the three-month period ended March 31, 2025:

 Summary of Warrant Activity

    Warrants  
    Number of Warrants Issued  
    Weighted Average Exercise Price 

    Warrants outstanding at December 31, 2024  
     5,155,060  
    $2.51 

    Warrants outstanding at March 31, 2025  
     5,155,060  
    $2.51 

    Aggregate intrinsic value of outstanding warrants at March 31, 2025  
    $-  

    Weighted average remaining contractual terms at March 31, 2025  
     4.7 years  

Note 10. Leases 

Lawrenceville, New Jersey Lease

In August 2023, the Company renewed its Lawrenceville
office lease for a 24-month agreement for 9,850 square feet with monthly rent payments of approximately $22,983 to $23,394. In April 2025,
the Company renewed its Lawrenceville office lease until November 30, 2028 for 4,359 square feet (to be reduced to 4,011 following April
1, 2026) with monthly rent payments of approximately $10,361 to $10,863.

Huntsville, Alabama Lease

In January 2023, the Company renewed its Huntsville
facility lease for a 60-month lease agreement for 11,420 square feet with monthly rent payments of approximately $28,550 to $30,903.

The following is a table of the lease payments and
maturity of the Company’s operating lease liabilities as of March 31, 2025:

 Schedule of Lease Payments and Maturity of Operating Lease Liabilities

    2025 
    $384,300 
  
    2026 
     362,976 
  
    2027 
     370,235 
  
    2028 and thereafter 
     30,903 
  
    Subtotal future lease payments 
     1,148,414