Company: INDP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010099
Chunk: 51

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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 Operations—Critical Accounting Policies” in our 2024 Annual Report on Form 10-K. During the three months ended
March 31, 2025, there were no material changes to our critical accounting policies from those discussed in our 2024 Annual Report on
Form 10-K.

Recently
Issued Accounting Pronouncements

In
November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures.
This ASU will require entities to provide enhanced disclosures, in a tabular format, related to certain expense categories included in
the statement of operations. The ASU aims to increase transparency and provide investors with more detailed information about the nature
of expenses reported on the face of the income statement. The new ASU is effective for annual reporting periods beginning after December
15, 2026 and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. We are currently evaluating the
impact of the adoption of this standard on the related disclosures.

In
December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures. This ASU does not change accounting for income
taxes but requires new disclosures focusing on two areas, the effective rate reconciliation and taxes paid. This new standard is effective
for public business entities for annual periods beginning after December 15, 2024. Early adoption is permitted.

Item
3. Quantitative and Qualitative Disclosures about Market Risk

We
are a smaller reporting company as defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)
and are not required to provide the information otherwise required under this Item 3.

Item
4. Controls and Procedures

Limitations
on Effectiveness of Controls and Procedures

In
designing and evaluating our disclosure controls and procedures, management recognizes that any controls and procedures, no matter how
well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. In addition, the design
of disclosure controls and procedures must reflect the fact that there are resource constraints, and that management is required to apply
judgment in evaluating the benefits of possible controls and procedures relative to their costs.

Evaluation
of Disclosure Controls and Procedures

Our
management, with the participation of our principal executive officer and principal financial officer, evaluated, as of March 31, 202