Company: FTSP
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001199835-25-000144
Chunk: 17

Company: FinTrade Sherpa, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 17
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 creations and enhancements created by the Seller using artificial intelligence (“AI”) models. As consideration,
the Company agreed to issue 227,000,000 common shares of the Company. At March 31, 2025, the transaction has not closed and no shares
have been issued in connection with the asset purchase agreement.

License
Agreement 

In
connection with the Asset Purchase Agreement, the Company entered into a License Agreement that grants the Company an exclusive worldwide
license to use certain AI technology. Under the License Agreement, the Company agreed to pay a total license fee of $440,000. Payable
in monthly installments of$5,000. Upon payment in full, the license automatically converts into a perpetual, fully paid-up and irrevocable
worldwide license. As at March 31, 2025, the Company has not made any monthly installments

Software
Development Agreement 

In
connection with the Asset Purchase Agreement, the Company entered into an agreement with a group of software specialists to carry out
certain software development activities on the Company’s behalf. In exchange for such services, the Company agreed to pay $123,000
within five days after the receipt by the Company of proceeds from equity financing of the Company from which the Company receives aggregate
gross proceeds of not less than $200,000. As at March 31, 2025, no amounts have been paid.

Lock-Up
and Leak-Out Agreements 

In
connection with the Asset Purchase Agreement, the Company entered into Lock-Up and Leak-Out Agreements with the associated parties of
the agreements on February 12, 2025 the parties agreed not to sell or engage in similar transactions with respect to any common stock
other than shares received pursuant to the Asset Purchase Agreement for a period of 180 days after the closing on February 14, 2025.
After the expiration of such period, the parties may transfer up to 20% of the shares received pursuant to the Asset Purchase Agreement
every 60 days. 

4.CAPITAL
STOCK

Capitalization

The
authorized capital of the Company is 500,000,000 shares of capital stock, divided into 480,000,000 shares of common stock with a par
value of $0.001 per share, and 20,000,000 shares of preferred stock with a par value of $0.001 per share. The Company reserved 10,000,000
shares of common stock for issuance under its 2016