Company: SIDU
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010989
Chunk: 72

Company: Sidus Space Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 72
---
) 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 three months ended March 31, 2025 and 2024 the Company recorded payments
of $45,000 in Other General and Administrative expenses. These are eliminated upon consolidation.

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.

    -18-

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 10 votes for every 1 vote of the Class A
Common Stock.

Class
A Common Stock

The
Company had 18,204,483 and 15,956,816 shares of Class A common stock issued and outstanding as of March 31, 2025 and December 31, 2024,
respectively.

During
the three months ended March 31, 2025, the Company issued 2,247,667 shares of Class A common stock as follows;

●1,162,802
                                            shares for exercise of pre-funded warrants and 1,068,332 shares for exercise of warrants,
                                            for which the Company received $2,381,247

●16,533
                                            shares to prior CFO and a Board member valued at $40,115

Class
B Common Sock

The
Company had 100,000 shares