Company: CLOQ
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-009976
Chunk: 20

Company: CYBERLOQ TECHNOLOGIES, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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, the 10,000 Series
A Preferred Stock held by Mark Carten were redeemed by the Company and returned to treasury.

Incentive Stock Options

The employment contracts for Christopher Jackson
and Enrico Giordano include performance incentive stock options based upon the Company meeting certain performance conditions that can
potentially result in the issuance of stock option awards of up to 5,000,000 shares each in the event that the Company reaches
certain performance goals. Specifically, Christopher Jackson and Enrico Giordano each shall be entitled to receive ten (10) stock
option awards of 500,000 shares of the Company’s common stock each, upon the Company achieving certain milestones (the “ISO
Awards”). The first ISO Award will vest upon the Company achieving (cumulatively) $1,000,000 in Gross Revenues, and each additional
ISO Award will vest upon the Company achieving the next $1,000,000 increment in cumulative Gross Revenue up to a total of 5,000,000 shares
each. The shares vest at 110% of the average closing bid price and must be exercised within five (5) years of the vesting date. To date,
no ISO Award milestones have been achieved.

     F-11 

CyberloQ Technologies, Inc.

NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
(unaudited)

For the Three Months Ended March 31, 2025

NOTE 7 – SBA EIDL Loan

On June 9, 2020, the Company received an Economic
Injury Disaster Loan from the Small Business Administration in the amount of $35,600. The loan has a term of thirty years and
an interest rate of 3.75% per annum. Payments in the amount of $174 monthly will begin twelve months from the date of the note.
During the three months ended March 31, 2025 the Company paid $870 in interest.

 SCHEDULE
OF MATURITIES OF REPAYMENT OF LOAN

    Amount 
  
    Payment Obligations

    Amount 

    2025 
     2,088 
  
    2026 
     2,088 
  
    2027 
     2,088 
  
    2028 
     2,088 
  
    2029 to 2050 
     24,098 

    Total