Company: CBLO
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001882781-25-000034
Chunk: 522

Company: C2 Blockchain, Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1B
Chunk 522
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, 2025 (see Note 5). 

Note
9 - Impairment Expense

During
the fiscal year ended June 30, 2025, the Company purchased Cardano (ADA) tokens as a long-term reserve and investment. At the time of
purchase, management believed ADA represented a viable long-term blockchain asset with potential for growth and ecosystem development.
However, subsequent to June 30, 2025, management made the decision to fully divested its ADA token holdings. The Company realized an
approximate loss of $12,668 with
the sale of these assets. This amount was recognized as an impairment expense in the financial reports for the 2025 fiscal year end filing.

Note
10 - Shareholder Equity 

Preferred
Stock

The
authorized preferred stock of the Company consists of 20,000,000 shares with a par value of $0.001. There were no shares issued and outstanding
as of June 30, 2025, and June 30, 2024.

Common
Stock

The
authorized common stock of the Company consists of 500,000,000 shares with a par value of $0.001. There were 274,736,005 and 253,936,005
shares of common stock issued and outstanding as of June 30, 2025 and June 30, 2024, respectively.

On
or about April 10, 2025, the Company issued 1,500,000 shares of restricted common stock at a value of $0.01 per share, for total non-cash
consideration of $15,000, to Root Ventures LLC in exchange for investor relations and related services. The shares were issued as a consulting
fee.

The issuance
was made to an accredited investor in reliance on an exemption from registration under Section 4(a)(2) of the Securities Act and Rule
506(b) of Regulation D promulgated thereunder. The shares were issued for bona fide services and not for fundraising purposes.

During
the year ended June 30, 2025, the Company sold an aggregate of 16,800,000 shares of common stock to eight investors pursuant to its qualified
Regulation A+ Tier II offering, for total proceeds of $168,000. In addition, the Company issued a total of 2,500,000 shares of restricted
common stock to two accredited investors in private placement transactions exempt from registration under Section 4(a)(2) of