Company: CLOQ
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023402
Chunk: 23

Company: CYBERLOQ TECHNOLOGIES, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 of
$804 per month. This lease can be terminated by the Company upon sixty days’ notice.

The
Company has commission agreements as follows:

    ●
    An agreement with a shareholder
    and director of the Company stating that the executive will be entitled to a two-and-a half-percent (2.5%) commission of the gross
    revenue recorded by the Company for any customer contracts that are closed by the Company at the time of and during the duration
    of the agreement. These commissions are payable quarterly upon receipt of customer revenues.

    ●
    An agreement with two sales
    managers granting each manager a 1% commission on the gross revenue of the Company. These commissions are payable quarterly upon
    receipt of customer revenues.

NOTE
9 – RELATED PARTY TRANSACTIONS

Related
Parties and Stockholders Notes Payable

The
following is a summary of related party notes payable:

 SCHEDULE OF RELATED PARTY LOANS PAYABLE

    June 30, 2025  
    December 31, 2024 

    For the Periods Ended 

    June 30, 2025  
    December 31, 2024 
  
    Notes payable – stockholders 
    $35,000  
    $35,000 
  
    Convertible debt - stockholders 
     2,540,000  
     2,236,859 
  
    Notes payable – related parties 
    $150,000  
    $150,000 

Notes
Payable - Stockholders

On
December 29, 2014, the Company entered into a partially-convertible promissory note with a stockholder in the amount of $35,000. In January
of 2015, the stockholder partially-exercised its conversion option, and in May of 2016 the stockholder exercised the remainder of its
conversion option. In December 2017, the remaining unpaid principal and interest due on the note was settled in full for a $50,000 note
and the Company recognized $151,324 in gain on settlement of debt. The $50,000 note has a current principal balance of $35,000, a stated
interest rate of 0%, required payments of $5,000 on or before June 10, 2019, $5,000 on or before August 10, 2019 and the remainder due
by the extended due date of September 15, 201