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

Company: CYBERLOQ TECHNOLOGIES, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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     F-7 

CyberloQ Technologies, Inc.

NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
(unaudited)

For the Three Months Ended March 31, 2025

Fair Value Measurements

For certain financial
instruments, including accounts receivable, accounts payable, accrued expenses, interest payable, advances payable and notes payable,
the carrying amounts approximate fair value due to their relatively short maturities.

The Company has adopted
FASB ASC 820-10, “Fair Value Measurements and Disclosures.” FASB ASC 820-10 defines fair value, and establishes
a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures.
The carrying amounts reported in the consolidated balance sheets for receivables and current liabilities each qualify as financial instruments
and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and
their expected realization and their current market rate of interest. The three levels of valuation hierarchy are defined as follows:

    ●
    Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.

    ●
    Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

    ●
    Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The Company did not identify
any other non-recurring assets and liabilities that are required to be presented in the balance sheets at fair value in accordance with
FASB ASC 815.

Segment Reporting

The Company has not yet
begun generating revenue from its planned principal operation and operates as a single reportable segment. The principal executive officer
of the Company is the chief operating decision maker who assesses performance based on total expenses, cash flows and progress made towards
the CyberloQ Secure Solution.

Advertising

Advertising costs are
expensed as incurred. Advertising expense for the three-months ended March 31, 2025, and 2024 were $1,384 and $0, respectively.

Income Taxes

Deferred income taxes
are provided using the liability method (in accordance with ASC 740) whereby deferred tax assets are recognized for deductible temporary
differences and operating loss and tax credit carry forwards, and deferred tax liabilities