Company: CLOQ
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-009976
Chunk: 32

Company: CYBERLOQ TECHNOLOGIES, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 to grow and successfully execute our business plan. For example, Wells Fargo has introduced an “on/off”
feature for their customers, Discover Card has “Freeze It” functionality, and Ondot Systems has already been operating in
the mobile card security space for quite some time. However, the Company believes that the multi-purpose functionality of CyberloQ, along
with its multi-purpose applications will give the Company a distinct advantage by comparison. CyberloQ can be used in the banking system
to protect debit/credit cards, in the health care industry to protect PII (Personal Identifying Information) now that medical records
are kept digitally, and can protect corporate data bases in any industry from outside intrusion via geo-fencing. The Company believes
that these distinct features, along with the ability to “White Label” the technology for marketing partners, give the Company
a distinction in the marketplace. However, there can be no assurance that we will be able to successfully compete with other companies
in the marketplace.

In addition, the Company could incur increased
costs, decreased revenue, or suffer reputational damage in the event of a cyber-attack. The Company’s business involves the collection,
storage, processing and transmission of customers’ personal data, including financial information. In the event that the Company’s
security measures are breached due to human error, malfeasance, system errors or vulnerabilities, or other irregularities, such breach
could adversely affect our business through possible interruption of the Company’s operations, improper disclosure of data, damage
to the Company’s reputation, and/or legal exposure. 

Item
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

During the first three months of 2025, the Company
raised $206,001 for the operations of the Company through the unregistered sale of 2,072,500 shares of restricted common stock.

All of the shares described above were issued
by the Company in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended, provided by
Section 4(2). All of the purchasers of the unregistered securities were all known to us and our management, through pre-existing business
relationships, as long standing business associates, friends, and employees. All purchasers were provided access to all public material
information, which they requested, and all information necessary to verify such information and were afforded access to our management
in connection with their purchases. All purchasers of the unregistered