Company: BSAI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001096906-25-000818
Chunk: 9

Company: BLUSKY AI INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 9
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) $100,000 due on the first day of each month for the following twenty months, until February 1, 2025 at which point all amounts due and payable hereunder shall be delivered in a final balloon payment. The Company has received several payments leaving an outstanding balance of $2,219,442 as of March 31, 2025. MLM paid an additional $80,000 in initial payments than the agreement called for. Based on this additional funds, MLM has paid less than the scheduled payments to make up the cash outflow to them. Outstanding balances and missed Monthly Payments will be secured by a 10% NSR on the Clavo Rico mine production until the Monthly Payments are delivered and the purchase price is paid in full. In addition to the Monthly Payments, the Company will receive a carried forward net profits interest royalty (“NPI”) of 5% on the Clavo Rico mine production until the total NPI paid to the Company is $1,000,000, subject to limited conditions. The following table summarizes the note receivable of the Company as of March 31, 2025 and December 31, 2024:   March 31, 2025  December 31, 2024 Note Receivable from Mother Load Mining, Inc. pursuant to a Letter of Intent dated effective January 12, 2023, in the original principal amount of $5,700,000, accruing no interest, with monthly payments beginning on March 31, 2023, maturing February 1, 2025.  $2,219,442  $2,219,442 Less: Payments received  -   - Total Note Receivable outstanding  2,219,442   2,219,442 Less: Allowance for Doubtful Note Receivable  (2,219,442 )  (2,219,442 )Total Note Receivable $-  $- 

5. Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities at March 31, 2025 and December 31, 2024 consisted of the following:   March 31, 2025  December 31, 2024 Accounts Payable $555,669  $518,930 Accrued Liabilities  1,161,788   1,226,857 Accru