Company: INDP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010099
Chunk: 38

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 and litigation.

Leases

Future minimum annual lease payments and a reconciliation
to the Company’s operating lease liability under the Company’s non-cancelable operating lease as of March 31, 2025 are as follows:

 SUMMARY OF MINIMUM LEASE PAYMENTS 

    Total minimum lease payments in 2025 
    $60,804 
  
    Less: amount representing interest 
     (1,292)
  
    Present value of operating lease liability 
     59,512 
  
    Less: current portion 
     (59,512)
  
    Operating lease liability, net of current portion 
    $- 

The Company recognized rent expense of $25,462 in each of the three months ended March 31, 2025 and 2024. Total cash payments for the operating lease totalled $26,059
and $25,300 during the three months ended March 31, 2025 and 2024, respectively.

    F-9

NOTE 8: SEGMENT INFORMATION

The Company operates in one business segment, focusing
on the development of a novel and patented systemically administered anti-cancer and anti-viral immunotherapy. The Company’s chief
operating decision maker (“CODM”) is the chief executive officer. The CODM assesses performance for the segment based on operating
expenses as reported in the accompanying interim consolidated statements of operations.

As such, the CODM uses cash forecast models in deciding
how to invest into the segment. Such cash forecast models are reviewed to assess the entity-wide operating results and performance. Net
loss is used to monitor budget versus actual results. Monitoring budgeted versus actual results is used in assessing performance of the
segment.

The following table presents reportable segment loss,
including significant expenses regularly provided to the CODM, attributable to the Company’s reportable segment for the three months
ended March 31, 2025 and 2024:

 SCHEDULE OF REPORTABLE SEGMENT LOSS 

    2025  
    2024 

    Three months ended March 31, 

    2025  
    2024 
  
    Research and development: 

    External research and development 
    $2,285,112  
    $780,899 
  
    Internal personnel costs 
     525,728  
     810,243 
  
    Total research and development 
     2,810,840  
     1,591,142