Company: IMNN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022120
Chunk: 15

Company: Imunon, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 15
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 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 September 30, 2025:

 Schedule of Lease Payments and Maturity of Operating Lease Liabilities

    2025 
    $120,196 
  
    2026 
     488,821 
  
    2027 
     498,086 
  
    2028  
     149,896 
  
    Subtotal future lease payments 
     1,256,999 
  
    Less imputed interest 
     (154,767)
  
    Total lease liabilities 
    $1,102,232 

    Weighted average remaining life 
     2.6 

    Weighted average discount rate 
     9.98%

For
the nine-month period ended September 30, 2025, operating lease expense was $402,384 and cash paid for operating leases included in operating
cash flows was $400,936. For the nine-month period ended September 30, 2024, operating lease expense was $479,401 and cash paid for operating
leases included in operating cash flows was $488,047.

Note
11. Commitments and Contingencies 

The Company is not currently a party to any material legal proceedings.

Note
12. Subsequent Events 

The
Company has evaluated its subsequent events from September 30, 2025, through the date these condensed consolidated financial statements
were issued.

16

Item
2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

The
following discussion and analysis of our financial condition and results of operations. This discussion contains forward-looking statements
that involve risks and uncertainties. Our actual results may differ materially from those discussed in forward-looking statements. Factors
that might cause a difference include, but are not limited to, those discussed above under “Cautionary