Company: BSAI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001096906-25-000818
Chunk: 43

Company: BLUSKY AI INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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 As of March 31, 2025, the gross balance of the note was $65,000.

7. Notes Payable – Related Parties Notes payable – related parties were comprised of the following as of March 31, 2025 and December 31, 2024: Notes Payable - Related Parties Relationship March 31, 2025  December 31, 2024 Cluff-Rich PC 401K Affiliate - Controlled by Director $51,000  $51,000 Whit Cluff Director  15,327   15,327 Digital Asset Medium, LLC Affiliate - Controlled by Director  162,000   - D. D'ambrosio Immediate Family Member  531,705   531,434 Francis E. Rich Immediate Family Member  100,000   100,000 Pine Valley Investments Affiliate - Controlled by Director  295,000   295,000 Total Notes Payable - Related Parties    1,155,032   992,761 Less Short-Term Notes Payable - Related Parties    (1,155,032)  (992,761)Total Long-Term Notes Payable - Related Parties   $-  $-  Cluff-Rich PC 401K – On June 29, 2022, the Company issued an unsecured Short-Term Promissory Note to Cluff-Rich PC 401K in the principal amount of 60,000 (the “Note”) due on December 31, 2022 and bears a 5.0% interest rate. On February 1, 2023, the Company re-negotiated this note which extended it to March 1, 2025 and made it non-interest bearing. The Company issued 5,143 shares of common stock on February 1, 2023 as settlement for the accrued interest of $18,000. During the nine months ended September 30, 2023, the Company made a payment of $9,000 towards the principal balance. As of March 31, 2025, the gross balance of the notes was $51,000.

 F-11Table of Contents

Digital Asset Medium, LLC (Affiliate – Director) – On January 9, 2025, the Company formalized an unsecured