Company: CLOQ
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-009976
Chunk: 39

Company: CYBERLOQ TECHNOLOGIES, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 2
Chunk 39
---
, 2025 as compared to $15,000 for the three months ended March 31, 2024. This was due to the services agreement with QRails, Inc no longer being in effect.

The Company’s operating expenses were $266,992
for the three months ended March 31, 2025 as compared to $211,035 for the three months ended March 31, 2024. This increase in operating
expenses was primarily due to an increase in officers compensation which was $163,000 for the three months ended March 31, 2025 compared
to $62,500 for the three months ended March 31, 2024 related to a bonus approved by the Board of Directors. This was partially offset
by a decrease in professional fees which was $51,552 for the three months ended March 31, 2025 as compared to $114,774 for the three months
ended March 31, 2024 which was due to an issuance of common stock for services that occurred in the first quarter of 2024.

In addition, there was an increase in computer
and internet expense which was $30,143 for the three months ended March 31, 2025 compared to $5,711 for the three months ended March 31,
2024. Due to an increase in hosting costs associated with the Company’s web services.

In addition, the Company experienced changes in
expense categories as noted below.

Travel expenses were $10,119 for the three months
ended March 31, 2025 as compared to $1,718 for the three months ended March 31, 2024.

Other operating expenses were $2,824 for the three
months ended March 31, 2025 as compared to $21,382 for the three months ended March 31, 2024.

Office supplies and expenses were $6,904 for the
three months ended March 31, 2025 as compared to $2,537 for the three months ended March 31, 2024.

Finally, there were no material change in the
Company’s rent expense in the three months ended March 31, 2025 as compared to the three months ended March 31, 2024.

As a result of the foregoing, the Company experienced
a net loss from operations of $266,992 in the three months ended March 31, 2025 compared to a net loss from operations of $196,035 in
the three months