Company: CLOQ
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023402
Chunk: 42

Company: CYBERLOQ TECHNOLOGIES, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 42
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 the Six Months Ended June 30, 2025 and 2024

Company
revenue was $0 in the six months ended June 30, 2025 as compared to $15,000 for the three months ended June 30, 2024. This was due to
the services agreement with QRails, Inc no longer being in effect.

The
Company’s operating expenses were $430,262 for the six months ended June 30, 2025 as compared to $373,055 for the six months ended
June 30, 2024. This increase in operating expenses was primarily due to an increase in officers compensation which was $226,000 for the
six months ended June 30, 2025 compared to $122,500 for the six months ended June 30, 2024 related to a bonus approved by the Board of
Directors that was issued in the first quarter of 2025.

In
addition, there was an increase in computer and internet expense which were $57,338 for the six months ended June 30, 2025 compared to
$17,779 for the six months ended June 30, 2024. This increase was due to an increase in hosting costs associated with the Company’s
web services.

These
increases were partially offset by a decrease in professional fees which were $113,566 for the six months ended June 30, 2025 as compared
to $168,324 for the six months ended June 30, 2024 due to an issuance of common stock for services that occurred in the first quarter
of 2024 as well as a decrease in other operating expenses which were $7,977 for the six months ended June 30, 2025 as compared to $47,576
for the six months ended June 30, 2024 primarily due to bad debt and dues and subscriptions in 2024.

In
addition, the Company experienced changes in expense categories as noted below.

Travel
expenses were $10,339 for the six months ended June 30, 2025 as compared to $4,732 for the six months ended June 30, 2024.

Office
supplies and expenses were $5,063 for the six months ended June 30, 2025 as compared to $7,318 for the six months ended June 30, 2024.

Finally,
there were no material change in the Company’s rent expense in the six months