Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 845

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 845
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,000 deposit insurance limit among participating banks. The Company has not experienced any losses on any accounts
through the year ended December 31, 2024.

The
Company had $0.6 million
and $4.2 million
in cash and cash equivalents on hand as of December 31, 2024 and December 31, 2023, respectively. As of December 31, 2024, $0.2
million of the Company’s $0.6
million cash and cash equivalents balance was
invested in money market funds. The money market funds do not have significant liquidity restrictions that would require the exclusion
from cash and cash equivalents.

Property,
Plant and Equipment

Property,
plant and equipment are initially recorded at cost. Depreciation and amortization are computed using the straight-line method over the
estimated useful lives of the assets or, for leasehold improvements, the life of the lease, if shorter. When assets are retired or otherwise
disposed of, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected
in other income or expense for the period. As of December 31, 2024, property, plant and equipment primarily consisted of leasehold improvements.

Leases

In
accordance with ASC 842, Leases (ASC 842), the Company records a right-of-use (ROU) asset and a lease liability on the balance sheet
for all leases with terms longer than 12 months and classifies them as either operating or finance leases.

At
the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and
circumstances present and the classification of the lease including whether the contract involves the use of a distinct identified asset,
whether the Company obtains the right to substantially all the economic benefit from the use of the asset, and whether the Company has
the right to direct the use of the asset. Leases with a term greater than one year are recognized on the balance sheet as ROU assets,
lease liabilities and, if applicable, long-term lease liabilities. The Company has elected not to recognize on the balance sheet leases
with terms of one year or less under practical expedient in paragraph ASC 842-20-25-2. For contracts with lease and non-lease components,
the Company has elected not to allocate the contract consideration, and to account for the lease and non-lease components as a single
lease component.

Lease
liabilities