Company: CBLO
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001882781-25-000034
Chunk: 93

Company: C2 Blockchain, Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1C
Chunk 93
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 the Buyer, at the Buyer’s
election, in the form of a cash payment.

In
the event of default, the QC Note accrues interest at a rate of 24% per annum or the maximum rate permitted by law, whichever is less.
The QC Note also contains standard adjustments for stock splits, dividends, recapitalizations, and includes anti-dilution protections.

In
connection with the Purchase Agreement, the Company also issued to QC a warrant resulting in the issuance of 2,777,778 warrant shares
at an exercise price of $.02 per share with a 5 year term equivalent to 100% warrant coverage, entitling QC to purchase shares of common
stock equal to 100% of the principal amount of the QC Note. The Company covenants that while the Note and/or Warrant remain outstanding,
the Company will reserve from its authorized and unissued Common Stock, three times (300%) of the number of shares of Common Stock, free
from pre-emptive rights, that would be issuable upon full, unconditioned conversion of the Note and exercise of the Warrant calculated
on the basis of the conversion price and exercise price, respectively, in effect as the Closing Date, which such reserved amounts shall
be increased by the Company from time to time in accordance with its obligations under such Securities. In addition to all other rights
in this Agreement and the Note, in the event that on any date (the “Reserve Depletion Date”) the Company does not have available
enough authorized shares of Common Stock to satisfy any conversion request regarding the Note, or exercise of the Warrant, the Company
shall repay all outstanding amounts owed under the Note in full within sixty (60) days of the Reserve Depletion Date. 

The
QC Note and the related securities were issued in reliance on an exemption from registration under Section 4(a)(2) of the Securities
Act of 1933, as amended, and Rule 506 of Regulation D promulgated thereunder.

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Table
of Contents

Coventry
Enterprises LLC Securities Purchase Agreement and Promissory Note

On
July 22, 2025, the Company entered into a Securities Purchase Agreement with Coventry Enterprises LLC, a Delaware limited liability company
(“Coventry”), pursuant to which the Company issued a promissory note in the principal amount of $200,000.00 (the “Coventry
Note”).

The
Coventry Note