Company: CBLO
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001882781-25-000034
Chunk: 39

Company: C2 Blockchain, Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 39
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 promissory note in the principal amount
of $55,555.56 (the “QC Note”).

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
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.

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 any cure period), then Coventry
shall, within ten (10) calendar days thereafter, return five million (5,000,000) of the Commitment Stock shares to the Company’s
treasury for cancellation.

The
Company shall reserve thirty million (30,000,000) shares of its common stock for issuance to Coventry upon conversion of the Promissory
Note.

Coventry