Company: BSAI
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001096906-25-001383
Chunk: 66

Company: BLUSKY AI INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 66
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 to Wild Mustang, LLC for services rendered prior to that date and pursuant to existing, written employment agreements or other compensation agreements. These shares were valued at the market price of $1.60 per share for a total value of $800,000.

On July 7, 2025, the Company issued 20,000,000 shares to Digital Asset Medium, LLC pursuant to an Acquisition and Power Assignment Agreement. 

 8Table of Contents

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable as the Company conducts no mining operations in the U.S. or its territories.

ITEM 5. OTHER INFORMATION

On July 7, 2025, BluSky AI Inc., entered into an Acquisition and Power Assignment Agreement with Digital Asset Medium, LLC (“DAM”), a Wyoming limited liability company, whose managing member, Trent D'Ambrosio, is also the Company’s CEO. DAM assigned to the Company its exclusive right to utilize solar and grid-interconnected power at a data center project located in the Milford area of Beaver County, Utah. In exchange for the assignment of the Power Commitment in the Acquisition Agreement, the Company issued 20,000,000 shares of its restricted common stock to DAM.

Additionally, on July 11, 2025, the Company entered into a Ground Lease with an Option to Purchase (the “Lease”) with Wild Mustang Ventures LLC, a Wyoming limited liability company (the “Landlord”), through which the Company leased 51.6 acres in Milford, Utah (the “Milford Land”) for a two-year term. The base rent is $90,000 annually, which shall accrue until the earlier of the expiration of the lease or until the Company exercises its option to purchase the Milford Land. The Lease contains standard other provisions and includes a mutual indemnification clause which requires that the parties indemnify each other except in the case of gross negligence or willful misconduct.

On July 28, 2025, the Company signed a letter of intent to purchase land in Camp Verdi, Arizona for $3,100,000.

On July 28, 2025, the Company signed a letter of intent to sign a 15 year ground lease on a property in Delta, Utah. Lessee will pay $5,000 per month upon entering into a final agreement for the duration of the Lease. 

Power availability may be reserved by the Lessee by making