Company: MDCXW
Filing Date: 2025-09-29
Form Type: S-1
Source: 0001062993-25-015841
Chunk: 180

Company: Medicus Pharma Ltd.
Filing Date: 2025-09-29
Form: S-1
Chunk 180
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 payment and provision of all wages, bonuses, and benefits for these positions. Reimbursable salaries paid to RBx pursuant to this agreement are $125,000 per month. In December 2024, reimbursable salaries were changed to $100,000 per month. Reimbursable salaries paid to RBx were $1,300,000 and $400,000 during the years ended December 31, 2024 and 2023, respectively. Additional expenses of $180,857 and $736,690 were incurred by RBx on behalf of the Company during the years ended December 31, 2024 and 2023, respectively. The Company paid $1,623,316 and $970,740 to RBx during the years ended December 31, 2024 and 2023. The total amount of accounts payable to RBx was $142,459 and $165,950 as of December 31, 2024 and 2023, respectively. Reimbursable salaries paid to RBx were $600,000 and $675,000 during the six months ended June 30, 2025 and 2024, respectively. Additional expenses of $104,911 and $124,178 were incurred by RBx on behalf of the Company during the six months ended June 30, 2025 and 2024, respectively.

In connection with the convertible notes issued by the Company on May 3, 2024, related parties consisting of key management personnel subscribed for 168,750 convertible notes in the principal amount of $675,000 on the same terms as the investors who were not related to the Company. Upon conversion the Company settled the convertible notes, along with accrued but unpaid interest, with 172,953 common shares. RBx purchased $300,000 principal amount of convertible notes. James Quinlan, Chief Financial Officer of the Company, purchased $100,000 principal amount of convertible notes. Carolyn Bonner, President of the Company, purchased $25,000 principal amount of convertible notes.

On November 15, 2024, the Bokhari Trust, of which Dr. Raza Bokhari is a trustee, invested $594,000 in exchange for 144,000 units, consisting of 144,000 common shares and 144,000 Public Warrants as part of the Company's initial public offering, James Quinlan, Chief Financial Officer of the Company, invested $111,360 in exchange for 24,000