Company: LRHC
Filing Date: 2025-05-29
Form Type: 10-Q
Source: 0001213900-25-048370
Chunk: 104

Company: La Rosa Holdings Corp.
Filing Date: 2025-05-29
Form: 10-Q
Item: Item 8
Chunk 104
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 of the three warrants were exercised for a total of 877,872 shares of common stock. The remaining warrant was repurchased by the Company
for $379,083 in cash on January 24, 2025, resulting in the elimination of all vested warrants held by the investor as of March 31, 2025.

On January 8, 2025, the Company and the accredited
investor entered into that certain Waiver, waiving the Event of Default (as defined) under these senior secured promissory notes. The
waiver included, among other provisions, waiving the rights to all default penalties, default interest, the acceleration of any amounts
and waiving the restriction for the Company to enter into a variable rate transaction, of which the consummation could be considered an
event of default, provided the proceeds from such financing are used to repay, in full, the notes described above.

13

La Rosa Holdings Corp. and Subsidiaries
Notes to the Unaudited Condensed Consolidated Financial Statements

On January 22, 2025, the Company and the Holder
signed an amendment No. 1 to the Waiver. Pursuant to the Amendment, the Company shall pay 100% of any cash proceeds raised by the Company
from the sale of securities pursuant to its Registration Statement on Form S-3 to the Holder first towards the repayment of the Redemption
Price until it is paid in full, and after that towards the repayment of the Notes. The Amendment also provides that, if the Redemption
Agreement becomes null and void pursuant to the terms of the Redemption Agreement, then all Proceeds previously paid by the Company to
the Holder pursuant to the Redemption Agreement shall instead be applied towards the repayment of the Notes.

The interest expense incurred for the senior secured promissory
note was $23,798 and $14,955 for the three months ended March 31, 2025 and 2024, respectively.

Notes Payable-Promissory Note

On September 27, 2024, the Company entered into a promissory note payable
whereby the Company borrowed $200,000 bearing interest at 12.5% per annum. The note was payable in three monthly installments of $75,000.
The proceeds of the note were used to pay down the senior secured promissory note entered into in February 2024. The remaining balance
on the note as of December 31, 2024 was $148,