Company: CBLO
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001882781-25-000034
Chunk: 198

Company: C2 Blockchain, Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 3
Chunk 198
---

as of June 30, 2025, and June 30, 2024 except for the following: on February 1, 2025, the Company entered into an employment agreement
with our sole officer and director, Levi Jacobson, which details base salary to be paid as well as bonus payments based on benchmarks.

As
of June 30, 2025, the Company is in dispute with a vendor regarding services to the Company totaling $12,500. Based on the Company’s
analysis pursuant to ASC 450-20, Loss Contingencies, the payment of this disputed amount is considered uncertain at the time of filing
this report. No liability was recorded as of June 30, 2025 for this disputed amount.

Note
                                            6 - Prepaid Expenses

During
the year ended June 30, 2025, the Company prepaid a one-year invoice for OTC Markets news & disclosure service totaling $7,500 and
prepaid a 66-day invoice for advertising totaling $7,500. These were expensed through June 30, 2025, with the remaining balance of $13,068
to be expensed in the next fiscal year.

Note 7 - Intangible Asset - Cryptocurrency

The
Company has holdings of cryptocurrency as a long-term reserve and investment. During the year ended June 30, 2025, the Company purchased
cryptocurrency totaling $75,142, consisting entirely of Cardano (ADA) tokens. The Company recorded an impairment expense of $12,668 at
June 30, 2025 related to this cryptocurrency asset (see Note 9). 

-
F9 -

Table
of Contents

Note
8 - Accrued Expenses

During
the year ended June 30, 2025, the Company accrued salary, totaling $84,000, payable to our sole office and director, Levi Jacobson, pursuant
to the employment agreement dated February 1, 2025 (see Note 5). 

Note
9 - Impairment Expense

During
the fiscal year ended June 30, 2025, the Company purchased Cardano (ADA) tokens as a long-term reserve and investment. At the time of
purchase, management believed ADA represented a viable long-term blockchain asset with potential for growth and ecosystem development.
However, subsequent to June 30, 2025, management made the decision to fully divested its ADA token holdings. The Company realized an
approx