Company: EBZT
Filing Date: 2025-01-27
Form Type: 10-Q
Source: 0001477932-25-000477
Chunk: 5

Company: Everything Blockchain, Inc.
Filing Date: 2025-01-27
Form: 10-Q
Item: Part I, Item 8
Chunk 5
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)  (4,196)Other income(expenses) from discontinued operations, net  (16,380)   (430)  (16,452)   (2,408)Loss from discontinued operations  $(17,416) $(1,708) $(19,865) $(6,618) 

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Note 5. Intangible Assets Intangible assets consist of the following:   As of October 31, 2024   Gross Amount  Accumulated Amortization  Net Carrying Amount   (in thousands) IP/Technology $5,163  $753  $4,410    As of January 31, 2024   Gross Amount  Accumulated Amortization  Net Carrying Amount   (in thousands) IP/Technology $5,163  $146  $5,017  The Company’s IP/Technology is amortized over five years.

Note 6. Property, Plant and Equipment Property, plant and equipment consisted of the following (in thousands):   As of   October 31, 2024  January 31, 2024 Computer equipment and computer software $19  $19 Less: Accumulated depreciation  (18 )  (17 )Total property, plant and equipment, net $1  $2 

Note 7. Debt On July 14, 2023, a board director of the Company loaned it $55,000, representing half of the Company’s employee retention credit refund, which the Company expects to receive this year. The note calls for the payment of the principal sum of $55,000 plus interest of $12,500 for a total of $67,500. During the nine months ended October 31, 2024, the director lent the Company additional funds, which increased the outstanding balance to $87,364. The maturity date of the note is upon receipt of the employee retention credit refund.

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On September 7, 2023, Epic Industry Corp (“Epic”), a wholly owned company of Michael Hawkins the Company’s former Chairman, formalized its loans to the Company in a $1.0 million note. The note includes a mechanism to increase the amount of the note with the mutual consent of Epic