Company: BSAI
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001096906-25-000357
Chunk: 505

Company: BLUSKY AI INC.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1B
Chunk 505
---
 “Note”) and does not accrue interest. This note was due on December 31, 2023 and requires monthly payments of $10,000 starting July 2023 with any remaining balance paid in full by December 31, 2023. The Company made one payment of $10,000 during the fiscal year ended December 31, 2023. As of December 31, 2024, the gross balance of the note was $65,000 and in default.

8. Notes Payable – Related Parties Notes payable – related parties of continuing operations were comprised of the following as of December 31, 2024 and 2023: Notes Payable - Related Parties Relationship December 31, 2024  December 31, 2023 Cluff-Rich PC 401K Affiliate - Controlled by Director $51,000  $51,000 Whit Cluff Director  15,327   - Debra D'ambrosio Immediate Family Member  531,434   455,513 Francis E. Rich Immediate Family Member  100,000   100,000 Pine Valley Investments Affiliate - Controlled by Director  295,000   295,000 Total Notes Payable - Related Parties    992,761   901,513 Less Short-Term Notes Payable - Related Parties    (992,761)  (32,895) Total Long-Term Notes Payable - Related Parties   $-  $868,618  Cluff-Rich PC 401K (Affiliate – Controlled by Significant Shareholder) – On June 29, 2022, the Company issued an unsecured Short-Term Promissory Note to Cluff-Rich PC 401K in the principal amount of 60,000 (the “Note”) due on December 31, 2022 and bears a 5.0% interest rate. On February 1, 2023, the Company re-negotiated this note which extended it to March 1, 2025 and made it non-interest bearing. The Company issued 5,143 shares of common stock as settlement for the accrued interest of $18,000. During the year ended December 31, 2023, the Company made a payment of $9,000 towards the principal balance. As of December 31, 202