Company: LAAI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001683168-25-003680
Chunk: 27

Company: Loan Artificial Intelligence Corp.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 27
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in Vestiage, Inc.’s MD&A. Readers should not place undue reliance on any such forward-looking statements. Vestiage, Inc. disclaims
any obligation to publicly update or to revise any such statements to reflect any change in the Company’s expectations or in events,
conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ
from those set forth in the forward-looking statements.

Overview

Vestiage, Inc. is a developmental
stage company, incorporated under the laws of the State of Florida on October 31, 2006. On December 29, 2022 Vestiage, Inc., a Florida
corporation, executed a Share Exchange Agreement and with Fun Fitness Corporation (“FFC” the “Subsidiary”), a
Wyoming corporation. On January 12, 2023 the acquisition closed and VEST acquired 100% of the issued stock and 1,000,000 shares of Convertible
Series A Preferred Stock in exchange for 500,000 shares of VEST restricted Common Stock.

On December 31, 2023,
Vestiage, Inc. disposed of its subsidiary, Fun Fitness Corporation (‘FFC’), by returning the 1,000,000 shares of Convertible
Series A Preferred Stock acquired during the merger. The Company recognized a gain of $7,748 on disposal, calculated as the difference
between the net asset carrying value and the fair value of the consideration received, which was $0. No remaining interests are held in
FFC, and the disposal is not classified as a discontinued operation due to the absence of a strategic shift in operations.

Prior to the disposal,
Vestiage’s subsidiary, FFC, was involved in the fitness event planning industry. FFC’s services included competition planning,
vendor management, securing equipment, and coordinating food and volunteers for events. FFC also organized holiday and new member celebrations
for local gyms.

Opportunities may come
to the Company’s attention from various sources, including our management, our stockholders, professional advisors, securities broker
dealers, venture capitalists and private equity funds, members of the financial community and others who may present unsolicited proposals.
At this time, the Company has no plans, understandings, agreements, or commitments with any individual or entity to act as a finder in
regard to any business opportunities. While it is not currently anticipated that the Company will engage unaffiliated professional firms