Company: CBLO
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001882781-25-000034
Chunk: 255

Company: C2 Blockchain, Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 5
Chunk 255
---
%) 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.

-
7 -

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 includes $20,000.00 of guaranteed interest, and was issued with an original issue discount of $20,000.00 and $10,000.00
allocated to legal documentation fees, resulting in gross proceeds to the Company of $170,000.00.

The
Coventry Note is repayable in 12 equal monthly installments of $18,333.33 beginning on August 22, 2025, and maturing on July 22, 2026.

The
Company shall issue ten million (10,000,000) shares of its restricted common stock (in book entry form) to Coventry Enterprises LLC (“Coventry”)
as commitment stock (the “Commitment Stock”). If the Company repays all of its obligations in full and in accordance with
the terms of the Promissory Note, and was never in default during the term of the Note (independently of