Company: VYND
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001079973-25-001679
Chunk: 10

Company: Vynleads, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 received by us plus a warrant exercisable into 7% of the shares of our common stock at the offering price of our shares for sales by us of equity or equity-lin...  
  a fee equal to 1% of the total gross cash proceeds or non-cash consideration received by us, together with a five year warrant exercisable into 1% of the securities issued or to be issued by us...  
  a fee equal to 1% of consideration received by us in any debt financing not convertible into equity, including, but not limited to, a revolving credit line or credit enhancement instrument, inc...  
  a fee equal to 2% of any revenue-producing contract, fee-sharing arrangement, licensing, royalty or similar agreement with a non-U. S. Person first introduced to us by CRG Finance AG.               

In
addition to the foregoing fees, we have agreed to reimburse CRG Finance AG for its pre-approved out of pocket expenses it incurs under
the terms of the agreement. The agreement contains customary confidentiality and indemnification provisions.

Contingencies

In April 2016, we entered into a Promotion and
Royalty Agreement (the “ Agreement”) with a consultant to obtain certain promotional services from him (the “ Promoter”),
including the use of his name and appearance. In consideration for the services rendered by the Promoter, we agreed to use commercially
reasonable efforts to promote and sell a book authored by him (the “ Book”) and to pay him a percentage of the sales of the
Book after deductions for all direct costs of fulfilling such sales (the “ Royalty”). During the course of 2017, the Promoter
initiated a series of informal claims and filed unauthorized uniform commercial code financing statements (“ UCC Liens”) in
several states as liens against us and certain of our officers, directors, and founders, alleging non-payment for the Royalty amounts
due under the Agreement. We dispute the Promoter’s claims and have determined that any and all amounts due to the Promoter under
the Agreement have been paid in full. We have succeeded in removing certain of the UCC Liens and are pursuing action to remove the remaining
unauthorized UCC Liens. We do not believe that the claims of the Promoter are valid in any respect.

7. Concentration
of Credit Risk and Major Customers and Suppliers

We purchase our inventory of herbal/natural supplements
from one supplier. While we believe that we will be able to find a