Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 517

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 517
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2024 and 2023 NOTE 7 — NOTE PAYABLE (cont.)

Since the Note Payable balance is less than the remaining balance of the Amended BTC Note, the Company recorded the Note Payable in the aggregate of the principal and interest calculated over the life of the loan with a corresponding gain as follows:

| Principal – Note Payable           |     | $ |   5,000,000 |   |
| Interest payments – Note Payable   |     |   |     638,000 |   |
| Undiscounted cashflow              |     |   |   5,638,000 |   |
| Remaining value – Amended BTC Note |     |   | (12,116,000 | ) |
| Difference                         |     |   |  (6,478,000 | ) |
| Legal fees incurred                |     |   |     230,000 |   |
| Gain on debt restructuring         |     | $ |  (6,248,000 | ) |

For the years ended December 31, 2024 and 2023, the Company recognized interest expense amounting to $ and $, respectively, for the bitcoin denominated note payable.

NOTE 8 — COMMITMENTS AND CONTINGENCIES

Commitments

Board Member Compensation

On October 31, 2024, the Company’s Board of Directors approved the director’s compensation program, as follows:

| Element                                                |     | Amount |         |
|:-------------------------------------------------------|:----|:-------|--------:|
| Annual equity award                                    |     | $      | 160,000 |
| Annual board cash retainer                             |     | $      |  60,000 |
| Annual Audit Committee Member Retainer                 |     | $      |  10,000 |
| Annual Compensation Committee Member retainer          |     | $      |   7,500 |
| Annual Nominating/Governance Committee Member Retainer |     | $      |   7,500 |
| Annual Board Chair Additional retainer                 |     | $      |  40,000 |
| Annual Audit Chair Additional retainer                 |     | $      |  20,000 |
| Annual Compensation Chair Additional retainer          |     | $      |  15,000 |
| Annual Nominating/Governance Chair Additional retainer |     | $      |  15,000 |

The cash retainers will be paid monthly in arrears.

The annual