Company: AIBT
Filing Date: 2025-07-03
Form Type: 253G2
Source: 0001096906-25-001087
Chunk: 71

Company: AIBOTICS, INC.
Filing Date: 2025-07-03
Form: 253G2
Chunk 71
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 the total shares authorized to vote on such matter(s) and such holder shall vote along with holders of the Corporation’s Common Stock on such matters. Additionally, the Series A Preferred Stock is convertible into 9,793,754 shares of Company common stock at the option of the holder. On July 29, 2024, the Company entered into an Exchange Agreement with Ehave, Inc., its largest shareholder, whereby the Company agreed to issue Ehave, Inc. one share of Series A Preferred Stock in exchange for 9,793,754 shares of common stock. Series B Preferred Stock - Mezzanine Equity The Series B Preferred Stock is recorded as mezzanine equity in accordance with ASC 480, “ Distinguishing Liabilities from Equity”. The Series B Shares are recorded as mezzanine equity in accordance with ASC 480 because the Company may be obligated to issue a variable number of shares at a fixed price known at inception and there is no maximum number of shares that could potentially be issued upon conversion. In this instance, cash settlement would be presumed and the Series B Shares are classified as mezzanine equity in accordance with ASC 480-10-S99. Immediately upon effectiveness of the registration statement registering for resale of all the common stock issuable under the Series B Shares, all outstanding Series B Shares shall automatically convert into common stock. As of March 31, 2025 and December 31, 2024, the Company was authorized to issue 1,500,000 shares of Series B Preferred Stock. NOTE 8 - STOCK BASED COMPENSATION Effective July 15, 2024, the Company adopted the “AIBiotics, Inc.” limits the number of shares that may be issued pursuant to the 2024 Plan to 50,000,000 shares of common stock. As of March 31, 2025, there have not been any stock-based compensation issuances under the 2024 Plan. During 2022, the Company entered into a consulting agreement whereby the consultant agreed to act as a medical advisor to the Company for certain services. In exchange, the Company agreed to pay annual consideration of $35,000, payable in shares of common stock. The shares of common stock to be issued are to be determined using the volatility weighted average price of the common stock for the twenty days prior to the end of the quarter in which they were earned. As of December 31, 2024 and March 31, 2025, the Company had $35,000 and $