Company: VYND
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001079973-25-000779
Chunk: 22

Company: Vynleads, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 22
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, under the terms of a
five-year agreement. As compensation, we agreed to use our commercially reasonable efforts to promote and sell a book authored by him
and to pay him, as a royalty, a percentage of the sales of the book, after deductions for all direct costs of fulfilling such sales. During
2017 the third party initiated a series of informal claims and filed unauthorized uniform commercial code (UCC) financing statements in
several states against us and certain of our officers, directors, and founders, alleging non-payment of the royalty amounts. We dispute
all claims by the third party and believe that all royalty amounts due him have been paid in full. We are no longer selling the book authored
by him. We have succeeded in removing certain of the UCC liens and we are pursuing actions to remove the remaining unauthorized UCC lien.

ITEM 1A. RISK FACTORS

Not applicable to smaller reporting companies.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES
AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

On October 20, 2022, the Company executed a note payable
to an individual in the amount of $25,000, interest accrues 5% per annum, unsecured, and due date after one year of execution, or the
date in the which the company secures one million in total investment capital, whichever occurs first.

On November 18, 2019, the Company executed a note
payable to an individual in the amount of $50,000, interest accrues at 5% per annum, unsecured, and due after six months of execution,
or the date in which the Company secures one million dollars in total investment capital, whichever occurs first. On May 14, 2020 $1,250
of accrued interest was paid. This note is currently in default.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

During the quarter ended March 31, 2025, no director
or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement”,
as each term is defined in Item 408(a) of Regulation S-K. 

ITEM 6. EXHIBITS

The following exhibits are filed as part of this Quarterly Report on Form