Company: AIBT
Filing Date: 2025-07-03
Form Type: 253G2
Source: 0001096906-25-001087
Chunk: 82

Company: AIBOTICS, INC.
Filing Date: 2025-07-03
Form: 253G2
Chunk 82
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,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 $2,658 and $0 for the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024, the Company had recorded accrued interest of $2,658 related to the note within accrued interest on the 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 December 31, 2024 and 2023, the Company had cash compensation outstanding as accrued expense - related party due to the AIBotics Consulting Agreement of $864,000 and $576,000, respectively. During the years ended December 31, 2024 and 2023, the Company recognized $0 and $635, respectively, of stock-based compensation from Warrants issued in connection with the AIBotics Consulting Agreement. The Company records stock-based compensation on the consolidated income statement as general and administrative expense. Significant terms of the AIBotics Consulting Agreement are as follows: Annual Base Consulting Fee Every calendar month the Company will pay the CEO a consulting fee of $24,000, with an annual total fee of $288,000. Bonus Compensation Milestones The CEO was granted a Warrant to purchase that number of shares of AIBotics common stock equal to 5% of the issued and outstanding AIBotics common shares, on a fully diluted basis. The Warrant had an exercise price of $0.01 per share and expired on November 16, 2023. During the years ended December 31, 2024 and 2023, the Company issued 0 and 1,922, respectively, vested AIBotics warrant shares in accordance with the Warrant valued at $0 and $635, respectively (see Note 7 – Stockholders’ Equity). The Company will pay the CEO a bonus in AIBotics restricted stock or restricted stock units based on the following EBITDA milestones. As of December 31, 2024, no EBITDA milestones were met, and no amounts have been recorded for the bonus milestones.