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Sidus Space | 10-K: Annual report

SEC announcement ·  Mar 27 07:34
Summary by Moomoo AI
Sidus Space, a space-based technology company, has reported its financial performance and business developments for the fiscal year ended December 31, 2023. The company's financial statements reflect the inclusion of Aurea Alas Limited, a variable interest entity, in its consolidated financials. Sidus Space has not disclosed cash equivalents for the years ending December 31, 2023, and 2022, and reported an excess of FDIC insurance amounting to $966,107 as of December 31, 2023. Accounts receivable are managed with an allowance for doubtful accounts, and the company has recorded bad debt of $17,871 for 2023. The company's inventory comprises finished goods and work in progress, with no raw materials maintained. Property and equipment are recorded at cost, reduced by accumulated depreciation. Sidus Space has acquired assets from Exo-Space...Show More
Sidus Space, a space-based technology company, has reported its financial performance and business developments for the fiscal year ended December 31, 2023. The company's financial statements reflect the inclusion of Aurea Alas Limited, a variable interest entity, in its consolidated financials. Sidus Space has not disclosed cash equivalents for the years ending December 31, 2023, and 2022, and reported an excess of FDIC insurance amounting to $966,107 as of December 31, 2023. Accounts receivable are managed with an allowance for doubtful accounts, and the company has recorded bad debt of $17,871 for 2023. The company's inventory comprises finished goods and work in progress, with no raw materials maintained. Property and equipment are recorded at cost, reduced by accumulated depreciation. Sidus Space has acquired assets from Exo-Space Inc., including customer contracts and lists, for approximately $468,000 in cash. The company's future plans include strategic initiatives and investment plans aimed at growth and market expansion. The company has also entered into a licensing agreement for radio frequency spectrum use for satellite communications. In terms of business development, Sidus Space completed the acquisition of assets related to Exo-Space's analytics services and on-orbit data processing services. The company's future plans are focused on leveraging these acquisitions and licenses to enhance its service offerings and market presence.

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