Company: SIDU
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023543
Chunk: 13

Company: Sidus Space Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 13
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, excluding retainage 
    $684,749  
    $1,331,194 
  
    Retainage included in contract assets due to being conditional on something other than solely passage of time 
     -  
     16,192 
  
    Retainage included in contract assets due to being conditional on something other than solely passage of time – related party 
     448,717  
     46,953 
  
    Total contract assets 
    $1,133,466  
    $1,394,339 

    Contract liabilities 
    September 30,  
    December 31, 

    2025  
    2024 

    Payments received or receivable (contracts receivable) in excess of revenue recognized on uncompleted contracts (contract liability), excluding retainage 
    $-  
    $- 
  
    Retainage included in contract liabilities due to being conditional on something other than solely passage of time 
    $-  
    $16,192 
  
    Retainage included in contract liabilities due to being conditional on something other than solely passage of time – related party 
     267,380  
     46,953 
  
    Total contract liabilities 
    $267,380  
    $63,145 

Note
10. Leases

Operating
lease

We
have a new lease contract entered June 1, 2025 which includes both our office facility and warehouse space that expires May 31, 2028.
The monthly “Base Rent” is $12,232 and $13,150. The Base Rent is increased by 3.0% each year.

We
had a lease contract entered June 1, 2024 which includes both our office facility and warehouse space that expired May 31, 2025. The
monthly “Base Rent” was $11,876 and $12,767.

We
recognized total lease expense, primarily related to our operating leases, on a straight-line basis in accordance with ASC 842.

    17

As
of September 30, 2025 and December 31, 2024, the Company recorded a refundable security deposit of $10,000 for its warehouse space and
is included in other assets on the balance sheet.

The
operating lease expense were as follows:

 Schedule of Operating Lease Expense

    2025  
    2024 

    Nine months ended September