Company: VYND
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001079973-25-001260
Chunk: 1

Company: Vynleads, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 3
Chunk 1
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, the Company expects to have the
available resources in order to hire additional personnel to expand the finance and accounting department in order to mitigate the material
weakness noted above.

This
quarterly report does not include an attestation report of our independent registered public accounting firm regarding internal control
over financial reporting. We were not required to have, nor have we, engaged our independent registered public accounting firm to perform
an audit of internal control over financial reporting pursuant to the rules of the Securities and Exchange Commission that permit us to
provide only management’s report in this annual report. 

Changes in Internal Control Over Financial Reporting

There
were no changes in our internal control over financial reporting in connection with the evaluation required by Rule 13a-15(d) of the Exchange
Act that occurred during the period covered by this Quarterly Report on Form 10-Q that have materially affected, or are reasonably likely
to materially affect, our internal control over financial reporting.

20 

PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

In 2016 we engaged a third party to provide
certain promotional services to us in connection with our business, including the use of his name and appearance, under the terms of a
five-year agreement. As compensation, we agreed to use our commercially reasonable efforts to promote and sell a book authored by him
and to pay him, as a royalty, a percentage of the sales of the book, after deductions for all direct costs of fulfilling such sales. During
2017 the third party initiated a series of informal claims and filed unauthorized uniform commercial code (UCC) financing statements in
several states against us and certain of our officers, directors, and founders, alleging non-payment of the royalty amounts. We dispute
all claims by the third party and believe that all royalty amounts due him have been paid in full. We are no longer selling the book authored
by him. We have succeeded in removing certain of the UCC liens and we are pursuing actions to remove the remaining unauthorized UCC lien.

ITEM 1A. RISK FACTORS

Not applicable to smaller reporting companies.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES
AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

On October 20, 2022, the Company executed a note payable
to an individual in the amount of $25,000, interest accrues 5% per annum,