Imunon, Inc. Leases Disclosure
11. LEASES
Lawrenceville, New Jersey Lease - In August 2023, the Company renewed its Lawrenceville office lease for a 24-month agreement for 9,850 square feet with monthly rent payments of approximately $22,983 to $23,394. In April 2025, the Company renewed its Lawrenceville office lease until November 30, 2028 for 4,359 square feet (to be reduced to 4,011 following July 1, 2026) with monthly rent payments of approximately $10,361 to $10,863.
Huntsville, Alabama Lease - In January 2023, the Company renewed its Huntsville facility lease for a 60-month lease agreement for 11,420 square feet with monthly rent payments of approximately $28,550 to $30,903.
The following is a table of the lease payments and maturity of the Company’s operating lease liabilities as of December 31, 2025:
For the year ending December 31, | ||||
| 2026 | $ | 488,822 | ||
| 2027 | 498,086 | |||
| 2028 | 149,896 | |||
| Subtotal future lease payments | 1,136,804 | |||
| Less imputed interest | (128,039 | ) | ||
| Total lease liabilities | $ | 1,008,765 | ||
| Weighted average remaining life | 2.4 years | |||
| Weighted average discount rate | 9.98 | % | ||
The discount rate used was the Company’s incremental borrowing rate, which is 9.98%, as the Company could not determine the rate implicit in the lease.
For 2025, operating lease expense was $521,457 and cash paid for operating leases included in operating cash flows was $519,296. For 2024, operating lease expense was $634,848 and cash paid for operating leases included in operating cash flows was $626,323. Amortization expense was approximately $407,000 and $478,000 for the years ended December 31, 2025 and 2024, respectively.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 31, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Mar 28, 2024 | |
| 2022 | Mar 30, 2023 | |
| 2021 | Mar 31, 2022 | |
| 2020 | Mar 19, 2021 | |
| 2019 | Mar 25, 2020 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.