Company: AIBT
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001096906-25-000861
Chunk: 8

Company: AIBOTICS, INC.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 8
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 necessary for finite long-lived intangible assets as of March 31, 2025, and December 31, 2024.
 
The Company amortizes these intangible assets on a straight-line basis over their estimated useful lives, as stated below:  

Intangible Assets, Net Categories
 
Estimated Useful Life

Intellectual property
 
3 Years

Fair Value of Financial Instruments
 
The Company accounts for financial instruments in accordance with ASC 820, Fair Value Measurements and Disclosures.  ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under ASC 820 are described below:
 
Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
 
Level 2 – Quoted prices in non-active markets or in active markets for similar assets or liabilities, observable inputs other than quoted prices, and inputs that are not directly observable but are corroborated by observable market data; 
 
Level 3 – Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.
 
There were no changes in the fair value hierarchy leveling during the three months ended March 31, 2025 and 2024.
 
Income Taxes
 
The Company provides for income taxes using the asset and liability approach. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. As of March 31, 2025 and December 31, 2024, the Company had a full valuation allowance against its deferred tax assets.
 
We adopted ASC 740-10-25, Income Taxes—Recognition, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740-10-25, we may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination