Company: CLOQ
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-009976
Chunk: 26

Company: CYBERLOQ TECHNOLOGIES, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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. The Company was required to pay an extension penalty in the amount of $7,500.
On December 19, 2024, the Company entered into a fourth loan modification agreement with the estate of the director extending the
maturity date to April
15, 2025. The Company was required to pay an extension penalty in the amount of $7,500. On May 6, 2025, the Company entered into a fifth loan modification agreement with the estate of the director in which the Company will
make quarterly interest payments of $7,500, any additional payments will be applied to the outstanding principal. So long as the quarterly
interest payments are made the terms will be in effect until the note and accrued interest are paid in full.

NOTE 10 – SUBSEQUENT EVENTS

Subsequent to March 31, 2025, the Board of Directors voted and approved
issuing a new class of Preferred Shares, but it has not been formalized with the Nevada Secretary of State, nor the Transfer Agent. It
will be completed in the second quarter of 2025.

The Company is not aware
of any other subsequent events through the date of this filing that require disclosure or recognition in these financial statements.

 F-13 

Item
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion is intended to assist
you in understanding our business and the results of our operations. It should be read in conjunction with the Condensed Financial Statements
and the related notes that appear elsewhere in this report as well as our Report on Form 10K filed with the Securities and Exchange Commission
for the period ending December 31, 2024. Statements made in this Form 10-Q that are not historical or current facts are “forward-looking
statements”. These statements often can be identified by the use of terms such as “may,” “will,” “expect,”
“believe,” “anticipate,” “estimate,” “approximate” or “continue,” or the negative
thereof. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date
made. Any forward-looking statements represent management’s best judgment as to what may occur in the future. However, forward-looking
statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to
differ materially from historical results of operations and events and those presently anticipated or projected. We dis