Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 438

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 438
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    $12,219,356  
    $1,990,146  
     16%
  
    Working capital (deficiency) 
    $8,043,050  
    $(3,017,046) 
    $11,060,096  
     (367)%

Liquidity is the ability of a company to generate
funds to support asset growth, satisfy disbursement needs, maintain reserve requirements, and otherwise operate on an ongoing basis.
We had insufficient operating revenues, so we are currently dependent on debt financing and sale of equity to fund operations.

We had an accumulated deficit of approximately $60.3
million and a working capital surplus of approximately $8.0 million as of December 31, 2024 compared to accumulated deficit of approximately
$42.8 million and a working capital deficiency of approximately $3.0 million as of December 31, 2023. As of December 31, 2024, we had
approximately $15.7 million of cash compared to approximately $1.2 million of cash as of December 31, 2023.

As of December 31, 2024, our working capital surplus
was primarily due to funds raised in our capital raises completed Q4 2024. As of December 31, 2023, the working capital deficiency was
primarily due to our build out of our LizzieSat® satellite in anticipation of our Q1 2024 launch.

Current assets increased by approximately $13.0 million,
or 142%, to $22.3 million as of December 31, 2024 from approximately $9.2 million as of December 31, 2023. The increase is primarily
attributable to our increased cash balance.

Current liabilities increased by approximately $2.0
million, or 16%, to approximately $14.2 million as of December 31, 2024 from approximately $12.2 million as of December 31, 2023. The
increase was attributable to an increase in our asset-based loan liability partially offset by a decrease in account payable and other
current liabilities.

In January 2025 the company issued 2,247,667 shares
of Class A common stock in exchange for warrants exercised from the December 2024 capital raise. The company received funds of approximately
$2.4 million in exchange for the shares issued.

 53 

Cash Flow

    Years Ended  

    December 31