Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 532

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 532
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-68 Gryphon Digital Mining, Inc. Notes to the Consolidated Financial Statements For the Years Ended December 31, 2024 and 2023 NOTE 9 — STOCKHOLDERS’ DEFICIT (cont.) Merger, as the Company believes that the Akerna trading is the most readily determined value in accordance with ASC 718 -10-55-10to 12. Akerna is publicly traded (Nasdaq: GRYP). The equity compensation expense for the year ended December 31, 2024 amounted to approximately $ 109,000. On April 4, 2022, the Company entered into an employment agreement with an individual. The agreement provided for an annual cash compensation of $ 230,000paid in equal installments on a monthly basis. Also, the employee was granted equity compensation of 863,687shares of the Company’s common stock. The equity award vests 143,947shares upon the six -monthanniversary, 287,896shares vest in equal quarterly installments commencing on the nine -monthanniversary, and 431,844shares vest in equal monthly installments commencing on the 19 -monthanniversary. The equity award was valued as of the grant date at $ 9.487per share for a total of $ 4,744,000. The Company was under a binding agreement to merge with Sphere 3D as of the grant date. Therefore, the grant date fair value was estimated to be the per -sharevalue based on the exchange ratio as defined in the Sphere 3D Merger Agreement, as the Company believes that the Sphere 3D trading is the most readily determinable value in accordance with ASC 718 -10-55-10to 12. Sphere 3D is publicly traded (Nasdaq: ANY). In January 2023, the employee resigned and vested ownership over 71,975restricted common stock awards valued at $ 9.487per share. The remaining unissued shares were canceled and the associated compensation expense in prior years of $ 1,910,000was recaptured. On October 26, 2021, the Company entered into an agreement with an individual to continue service to the Company. As compensation, the consultant was granted 17,274shares of the Company’s common stock, and all of the Shares shall vest over a period of two (2) years in accordance with the following vesting schedule: 4,318Shares will vest on the six -