Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 645

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 645
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579  
    $1,216,107  
    $14,487,472  
     1191%

Year ended December 31, 2024 and 2023

For the years ended December 31, 2024 and 2023, we
did not generate positive cash flows from operating activities. For the year ended December 31, 2024, net cash flows used in operating
activities was approximately $15.8 million compared to approximately $11.7 million during the year ended December 31, 2023.

Cash flows used in operating activities for the
year ended December 31, 2024, of approximately $15.8 million is comprised of a net loss of $17.5 million, which was reduced by
non-cash expenses of $289,175 for stock-based compensation related to vested stock and stock options, $87,129 for bad debt expense, approximately $2.2 million for
depreciation and amortization, and an increase in net working capital of approximately $849,000.

Cash flows used in operating activities for the year
ended December 31, 2023, of approximately $11.7 million is comprised of a net loss of $14.3 million, which was reduced by non-cash expenses
of $917,848 for issuing warrants as compensation of underwriter services, $104,038 for stock based compensation, $17,871 for bad debt
expense, $217,107 for depreciation and amortization, and a decrease in in net working capital of approximately $1.3 million.

Cash Flows from Investing Activities

During the year ended December 31, 2024, we purchased
property and equipment in the amount of approximately $7.5 million of which approximately $6.6 million primarily related to the satellite
side of our business.

During the year ended December 31, 2023, we purchased
property and equipment in the amount of approximately $7.2 million and invested approximately $483,644 related to our Exo-Space acquisition
and approximately $6.7 million primarily related to the satellite side of our business.

Cash Flows from Financing Activities

During the year ended December 31, 2024, net cash
provided in financing activities of approximately $37.8 million included our January 2024, March 2024, November 2024 and December 2024
capital raises of approximately $33.6 million net proceeds, and approximately $4