Company: AIBT
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001096906-25-001895
Chunk: 23

Company: AIBOTICS, INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 8
Chunk 23
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820 of accrued interest and $39,618 of the principal amount into shares of the Company’s common stock. Lender C received 108,957,599 common shares, with a fair value of $352,873 which is recorded within the unaudited condensed statement of stockholder equity.
 
On January 21, 2022, the Company issued a lender (“Lender E”) a convertible note payable with principal of $325,000 and an original issue discount of $75,000. The note matures after 24 months and has an effective interest rate of 8%. As of September 30, 2025, and December 31, 2024, this convertible note payable was in default and therefore classified as a current liability. Default interest accrues at a rate of 20% upon default, and the default conversion price is $0.975 per share. As of September 30, 2025, and December 31, 2024, the Company had an outstanding principal amount of $325,000 due as a result of this note. 
 
On January 30, 2024, the Company signed an agreement with a major shareholder (“Lender F”) for a $165,000 note payable. The note accrues interest at a rate of 1.75% compounded annually and has a maturity date of January 30, 2025 (Note 5 – Related Party Transactions).
 
During the year ended December 31, 2021, the Company issued three convertible notes payable. In accordance with the terms of the note agreements, during the year ended December 31, 2022, the Company received notice to convert the three notes into shares of the Company’s common stock. As a result, an aggregate of $232,500 in principal and $13,145 in interest was converted into 245,645 shares of common stock (Note 7 – Stockholders’ Equity). Following the conversion, $2,407 of accrued interest remained outstanding and owed to one of the note holders (“Lender D”). As of the nine months ended September 30, 2025, the Company notes all convertible notes payables are currently in default.
 
On May 6, 2025, the Company issued a lender (“Lender G”) a convertible note payable with principal of $275,000 and an original issue discount of $25,000. The note matures after 24 months and has an effective interest rate of 10%. As of September 30, 202