Company: IMNN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022120
Chunk: 3

Company: Imunon, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 3
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 continue as a going concern. Based
on the above, management has determined there is substantial doubt regarding our ability to continue as a going concern. The report of
our independent registered public accounting firm for the year ended December 31, 2024, includes an explanatory paragraph which expresses
substantial doubt about our ability to continue as a going concern.

Management’s
plan includes private or public equity financings, collaborations, or other strategic transactions such as raising funds from outside
investors via its ATM program and other potential funding sources. The Company may not be able to obtain funding on acceptable terms,
or at all. The terms of any financing may adversely affect the holdings or the rights of the Company’s stockholders. The Company’s
ability to raise additional funds will depend, among other factors, on financial, economic and market conditions, many of which are outside
of its control, and it may be unable to raise financing when needed, or on terms favorable to the Company. If the Company is unable to
obtain sufficient capital to fund its operations it may be required to evaluate alternatives. The Company’s condensed consolidated
financial statements do not include any adjustments relating to the recoverability and classification of assets, carrying amounts or
the amount and classification of liabilities that may be required should the Company be unable to continue as a going concern.

    9

Note
3. New Accounting Pronouncements 

From
time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) and are adopted
by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued
accounting pronouncements will not have a material impact on the Company’s condensed consolidated financial position, results of
operations, and cash flows, or do not apply to its operations.

In
December 2023, the FASB issued Accounting Standards Update (“ASU”) No. 2023-09, “Improvements to Income Tax
Disclosures”, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components
of the effective tax rate reconciliation, and modifies other income tax-related disclosures. ASU No. 2023-09 is effective for the
Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Early adoption is permitted. The Company is
currently evaluating the impact of the ASU on the income tax disclosures within the unaudited condensed consolidated financial
statements; the Company expects changes