Sidus Space, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Asset-based loan (Details Narrative)

Asset-based loan (Details Narrative) - USD ($)	9 Months Ended
Asset-based loan (Details Narrative) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Revolving line of credit	$ 4,500,000
Line of credit facility interest rate description	Additionally, in the event of default the Lender at its option can increase the loan interest rate by 5% per annum for each month or partial month default on outstanding balances.
Asset based loan liability	$ 4,401,772		$ 2,587,900
Asset based loan expense	$ 252,734	$ 100,629
Collateralized [Member]
Line of credit interest rate	16.20%
Asset based loan liability	$ 2,922,056		2,587,900
Uncollateralized [Member]
Line of credit interest rate	19.20%
Asset based loan liability	$ 1,479,716		$ 0
Maximum [Member]
Percentage of face amount of purchase price for accounts receivable	90.00%

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

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