Company: KWIK
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002055
Chunk: 375

Company: KwikClick, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 375
---

                           ownership also includes shares of stock subject to options and warrants currently exercisable or exercisable
                           within 60 days of the date of this table. In determining the percent of common stock owned by a person or
                           entity as of December 31, 2024 (a) the numerator is the number of shares of the class beneficially owned by
                           such person or entity, including shares which may be acquired within 60 days on exercise of warrants or options
                           and conversion of convertible securities, and (b) the denominator is the sum of (i) the total shares of common
                           stock outstanding as of the date of this Form 10, which is 155,648,706 shares, and (ii) the total number of
                           shares that the beneficial owner may acquire upon exercise of the derivative securities. Unless otherwise
                           stated, each beneficial owner has sole power to vote and dispose of its shares.
                                    
 (4)Fully vested stock-settled appreciation rights
                           (SARs) exercisable but out of the money as of March 31, 2025.

 35 

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR
INDEPENDENCE

Affiliate Loans and Defaults

We have been funded in part by loans from affiliates.
As of December 31, 2024, we had outstanding obligations due to Mr. Cooper totaling $2,842,982 of principal and accrued interest.

Review, Approval and Ratification of Related
Party Transactions

Given our small size and limited financial resources,
we have not adopted formal policies and procedures for the review, approval or ratification of transactions, such as those described above,
with our executive officer(s), Director(s) and significant stockholders. We intend to establish formal policies and procedures in the
future, once we have sufficient resources and have appointed additional Directors, so that such transactions will be subject to the review,
approval or ratification of our Board of Directors, or an appropriate committee thereof. On a moving forward basis, our directors will
continue to approve any related party transaction.

Indemnification of Directors and Officers

Our Certificate of Incorporation and Bylaws do not
have any specific provisions relating to indemnification of our officers and directors.  Without limiting the application of the
foregoing, the Board of Directors may adopt bylaws from time to time with respect to indemnification, to provide at all times the fullest
indemnification permitted by the laws