Company: CDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024140
Chunk: 100

Company: CDT Equity Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 100
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 $1.9 million. For the three months ended June 30, 2025, the Company recorded a $0.1 million loss in the
change in fair value of the A.G.P. Convertible Note and interest expense of approximately $0.1 million. For the six months ended June
30, 2025, the Company recorded a $0.1 million gain in the change in fair value of the A.G.P. Convertible Note and interest expense of
approximately $0.1 million. As of June 30, 2025, there was approximately $3.6 million in outstanding principal and interest remaining.

5.
Loans Payable

Loans

On
May 1, 2022, the Company entered into Loan Agreements (the “Loans”) with two lenders, totaling $0.2
million. The
Loans mature two years from the date of the agreement and bear no interest. Each
loan was made available to the Company by the lenders in three tranches of (i) $33,000
(£30,000);
(ii) $33,000
(£30,000);
and (iii) $28,000
(£25,000).
The Loans provided for events of default, including, among others, failure to make payment, bankruptcy and non-compliance with the terms
of the Loans. As of December 31, 2024, the Company utilized all three tranches of the first loan and two out of three tranches of the
second loan, with loans payable totaling $0.2
million.

On
October 9, 2024, the Company and holders of the Loans amended the loan agreements (the “Loans Amendment”) to extend the maturity
date for the Loans to December 19, 2024. The Loans Amendment also modified the payment terms for the Loans from a cash payment of £85,000
per loan to (1) a cash payment of £60,000, (2) £25,000 worth of shares of Common Stock converted into USD at the prevailing
exchange rate, to be issued at the closing market price on the date prior to issuance, and in consideration for the extension, and (3)
167 additional shares of Common stock. On October 11, 2024, the Company issued each of the Loan holders 379 shares (758 shares in total).

    17

The
Company repaid the lenders the outstanding principal balance of $0.