Netcapital Inc. Commitments Disclosure
Note 10 – Deposits and Commitments
The Company utilizes office space at 1 Lincoln Street in Boston, Massachusetts, under an office membership agreement. The Company pays a monthly membership fee of approximately $6,600. The agreement is cancellable by the Company with 60 days’ notice. As of April 30, 2025, the Company had a refundable security deposit of $6,300 related to the agreement.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Aug 12, 2025 | Showing above |
| 2023 | Jul 26, 2023 | |
| 2022 | Aug 8, 2022 | |
| 2021 | Aug 31, 2021 | |
| 2020 | Aug 11, 2020 | |
| 2019 | Aug 5, 2019 | |
| 2018 | Jul 30, 2018 | |
| 2017 | Sep 8, 2017 | |
| 2016 | Feb 17, 2017 | |
| 2015 | Feb 14, 2017 | |
About Commitments Disclosures
Commitments and contingencies disclosures catalog a company's off-balance-sheet obligations and legal exposures — purchase commitments, guarantee arrangements, pending litigation, and regulatory proceedings. These items represent potential future cash outflows that may not appear as liabilities on the balance sheet until they become probable and estimable.
Key signals: litigation reserves and disclosed loss ranges quantify management's estimate of legal exposure, but unquantified "reasonably possible" losses often represent the larger risk. Watch for changes in language around pending cases — shifts from "remote" to "reasonably possible" or increases in estimated loss ranges signal deteriorating outcomes. Unconditional purchase obligations and take-or-pay contracts create fixed cost structures that reduce operational flexibility. Guarantee arrangements for subsidiaries or joint ventures can create cascading obligations. Compare the total commitment schedule against projected free cash flow to assess whether the company can meet its obligations without additional financing.