Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 1024

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 1024
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 2025 
    $123,216 
  
    Thereafter 
     - 
  
    Total undiscounted lease payments 
     123,216 
  
    Less: Imputed interest 
     (1,672)
  
    Operating lease liabilities 
    $121,544 

Sublease

On
August 1, 2021, the Company entered into a Sublease Agreement with its related party and a principal shareholder
(“Sublandlord”), whereby the Company shall sublease certain offices, rooms and shared use of common spaces located at
150 Sykes Creek Parkway, Merritt Island, FL. The Lease is a month-to-month lease and may be terminated with 30 days’ notice to
the Sublandlord. The monthly rent shall be $4,570
from inception through January 31, 2022, $4,707
from February 1, 2022 to January 31, 2023 and $4,847
from February 1, 2023 to January 31, 2024. On February 1, 2024, the Company extended the month-to-month Sublease agreement. The
monthly rent shall be $4,618.03
from February 1, 2024 to January 31, 2025, $4,756.57
from February 1, 2025 to January 31,2026 and $4,899.27
from February 1, 2026 to January 31, 2027. A common area maintenance fee (CAM) will be charged in addition to the monthly rent.
During the years ended December 31, 2024 and 2023, the Company recorded $79,005
and $58,024
directly related to this short-term month to month lease to lease expenses.

    F-18

Note
12. Notes Payable

Decathlon
Note

On
December 3, 2021, we entered into a Loan Assignment and Assumption Agreement, or Loan Assignment, with Decathlon Alpha IV, L.P., or Decathlon
and Craig Technical Consulting, Inc (“CTC”) pursuant to which we assumed the Decathlon Note. In connection with our assumption
of the Decathlon Note, CTC reduced the principal of the Note Payable – related party by $1.4 million for an aggregate principal
balance of $2.6 million. The Company recorded a reclassification of $1,106,164