Sidus Space, Inc., a company listed under the stock code SIDU.US, has notified the Securities and Exchange Commission (SEC) of a delay in filing its Quarterly Report on Form 10-Q for the period ended June 30, 2024. The delay is due to the company's previous auditor, BF Borgers, being barred from practicing before the SEC, necessitating additional time for the new auditor to review the quarterly financial statements. Sidus Space anticipates filing the report within the five-day extension period. The company's financials indicate a decrease in non-related party revenue by 29% to approximately $835,000 and a 52% decrease in related party revenue to about $93,000 for the quarter ended June 30, 2024, compared to the same period in 2023. Costs of revenue surged by...Show More

Sidus Space, Inc., a company listed under the stock code SIDU.US, has notified the Securities and Exchange Commission (SEC) of a delay in filing its Quarterly Report on Form 10-Q for the period ended June 30, 2024. The delay is due to the company's previous auditor, BF Borgers, being barred from practicing before the SEC, necessitating additional time for the new auditor to review the quarterly financial statements. Sidus Space anticipates filing the report within the five-day extension period. The company's financials indicate a decrease in non-related party revenue by 29% to approximately $835,000 and a 52% decrease in related party revenue to about $93,000 for the quarter ended June 30, 2024, compared to the same period in 2023. Costs of revenue surged by 105% to approximately $1.77 million, resulting in a gross loss of about $841,000, a significant downturn from the gross profit of approximately $508,000 in the previous year. Selling, general, and administrative expenses decreased by $500,000 to approximately $3.1 million. Other expenses decreased by $210,707 to $238,169 for the quarter. The company's Chief Financial Officer, Bill White, signed the notification on August 14, 2024.