Company: AIBT
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001096906-25-001375
Chunk: 18

Company: AIBOTICS, INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Item 8
Chunk 18
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 31, 2024, the Company issued 200,000 shares of Series B Preferred Stock to the seller as satisfaction of the intangible assets’ consideration in the amount of $4,400. No shares were issued during the three and six months ending June 30, 2025.
The acquired intangible assets are being amortized over their estimated useful lives of 3 years.
 
Intangible assets as of June 30, 2025 and December 31, 2024, are as follows:

June 30,
 
December 31,

2025
 
2024

Intellectual property
$
2,000,000
 
$
2,000,000

Less: accumulated amortization
 
(1,056,569
) 
 
(728,102
)

Intangible assets, net
$
943,431
 
$
1,271,898

Amortization expense from intangible assets was $328,467 and $332,117 for the six months ended June 30, 2025, and 2024. 
 
Future amortization expense from intangible assets as of June 30, 2025, were as follows:

For the Year Ended,

December 31,

Remainder of 2025
 
$
337,592

2026

605,839

Thereafter

-

Total remaining amortization expense
 
$
943,431

NOTE 5 – RELATED PARTY TRANSACTIONS
 
Notes Payable – Related Parties 
 
On January 30th, 2024, the Company signed an agreement with a major shareholder for a $165,000 note payable. The note accrues interest at a rate of 1.75% compounded annually and has a maturity date of January 30, 2025 (Note 6 – Promissory and Convertible Notes). The note had interest expense of $1,432 for the six months ended June 30, 2025, respectively. As of June 30, 2025, the Company had recorded accrued interest of $4,090 related to the note within accrued interest on the Condensed Consolidated Balance Sheet.
 
Aibotics Consulting Agreement with the CEO
 
On November 17, 2021, AiBotics entered into an Executive Consulting Agreement (the “Aibotics Consulting Agreement”), with Benjamin Kaplan (“BK”) to serve as the Company’s CEO for an initial term of 36 months. As of June 30, 2025