Company: BSAI
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001096906-25-000357
Chunk: 844

Company: BLUSKY AI INC.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 5
Chunk 844
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December 31, 2024  December 31, 2023 1800 Diagonal Lending $266,451  $77,701 Total Convertible Notes Payable  266,451   77,701 Less Unamortized Discount  -   (40,161)Total Convertible Notes Payable, Net of Unamortized Debt Discount  266,451   37,540 Less Short-Term Convertible Notes Payable  (266,451)  (37,540)Total Long-Term Convertible Notes Payable, Net of Unamortized Debt Discount $-  $- 

 F-16Table of Contents

1800 Diagonal Lending LLC – On September 12, 2023, the Company issued an unsecured Convertible Promissory Note (“Note”) to 1800 Diagonal Lending, LLC (“1800”), in the principal amount of $116,550 (the “Note”) due on June 15, 2024 and bears 11% per annum interest, due at maturity. The total net proceeds the Company received was $100,000 (less an original issue discount (“OID”) of $16,550). The Note is convertible into common stock, at holder’s option, at a 25% discount of the average of the three lowest trading price of the common stock during the 10 trading day period prior to conversion. During the year ended December 31, 2023, the Company paid $43,122 towards the principal balance of $38,849 and $4,273 in accrued interest. For the year ended December 31, 2023, the Company amortized $26,454 of debt discount as interest expense. During the year ended December 31, 2024, the Company paid $86,245 towards the principal balance of $77,701 and $8,544 in accrued interest. For the year ended December 31, 2024, the Company amortized $40,161 of debt discount as interest expense. As of December 31, 2024, the gross balance of the note was $0 and accrued interest was $0. 1800 Diagonal Lending LLC – On January 23, 2024, the Company issued an unsecured Convertible Promissory Note (“Note”) to 1800 Diagonal Lending, LLC (“1800”), in the principal amount of $