Company: INMB
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003354
Chunk: 804

Company: Inmune Bio, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7
Chunk 804
---
 we recognize the largest
amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement. As of December 31, 2024, and 2023,
the Company has no significant uncertain tax positions. There are no unrecognized tax benefits included on the balance sheet that would,
if recognized, impact the effective tax rate. The Company does not anticipate there will be a significant change in unrecognized tax benefits
within the next 12 months.

NOTE 11 – COLLABORATIVE AGREEMENTS

During September 2020, the Company was awarded
a grant from the National Institutes of Health (“NIH”). The grant will support a Phase 2 study of XPro in patients with treatment
resistant depression. During 2024, the grant was reduced from approximately $2.9 million to approximately $2.0 million. As of December
31, 2024, the Company has not received any proceeds pursuant to this grant. 

NOTE
12 – COMMITMENTS AND CONTINGENCIES

Lease

During September
2021, the Company signed a lease agreement with a third party for office space in Boca Raton, Florida. The operating lease has a 64-month
term and commenced during the fourth quarter of 2021.

Future minimum payments pursuant
to the leases are as follows:

    (in thousands, except years) 

    2025 
     193 
  
    2026 
     198 
  
    2027 
     51 
  
    Total lease payments 
     442 
  
    Less: imputed interest 
     (58)
  
    Present value of future lease payments 
     384 
  
    Less: operating lease, current liabilities 
     (140)
  
    Long-term operating lease liabilities 
    $244 

F-19

During the years ended December 31, 2024 and 2023,
the Company recognized $161,000 and $163,000, respectively, in operating lease expense, which is included in general and administrative
expenses in the Company’s consolidated statement of operations.

Dispute

The Company
has an ongoing dispute with a vendor in which the Company believes that the vendor did not properly provide services for which they have
invoiced the Company. As of December 31, 2024, the Company has outstanding invoices with the vendor which aggregate approximately $1.6 million,
of which the Company has recorded approximately $0.2 million