Company: AIBT
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001096906-25-001895
Chunk: 21

Company: AIBOTICS, INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 8
Chunk 21
---
000

$
100,000,000

Stock Grants – Significant Transactions
 
Upon the Company closing a Significant Transaction, the CEO shall be granted shares of Aibotics common stock or a new series of Aibotics preferred shares that is convertible into Aibotics common stock equal to 5% of the value of all the consideration, including any stock, cash or debt of such completed transaction. A “Significant Transaction” shall mean a financing of at least $500,000 or the closing of an acquisition with a valuation of at least $1,000,000 for Aibotics. As of September 30, 2025 and December 31, 2024, the Company had not granted any shares in relation to a Significant Transaction.
 
As of September 30, 2025 and December 31, 2024, there are no amounts accrued related to the bonuses.
 
Board Compensation
 
As of September 30, 2025 and December 31, 2024, the Company had accrued expenses from board compensation of $230,000 and $160,000, respectively. Accrued board compensation is included as part of Accounts payable and accrued expenses on the consolidated balance sheets.

NOTE 6 – PROMISSORY AND CONVERTIBLE NOTES
 
On August 27, 2021, the Company issued a lender (“Lender A”) a convertible note payable with principal of $500,000 and an original issue discount of $50,000. 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 $0.75 per share. During the year ended December 31, 2024, the Company converted $110,000 of accrued interest into 2,200,000 shares of common stock pursuant to the terms of the convertible note agreement. Although the conversion was effective as of December 31, 2024, the related shares were issued in January 2025. The fair value of the shares issued was $44,000 and was recorded within the unaudited condensed statement of stockholders’ equity for the nine months ended September 30, 2025.
 
On April 22, 2025, Lender A (“the Seller”) entered into a