Company: AIBT
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001096906-25-000861
Chunk: 12

Company: AIBOTICS, INC.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 12
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 Preferred Stock to the seller as satisfaction of the intangible assets’ consideration in the amount of $4,400. No shares were issued during the three months ending March 31, 2025. 

11

The acquired intangible assets are being amortized over their estimated useful lives of 3 years.
 
Intangible assets as of March 31, 2025 and December 31, 2024, are as follows:

March 31,
 
December 31,

2025
 
2024

Intellectual property
$
2,000,000 
 
$
2,000,000 

Less: accumulated amortization
 
 (892,336)

 (728,102)

Intangible assets, net
$
1,107,664 
 
$
1,271,898 

Amortization expense from intangible assets was $164,234 and $166,058 for the three months ended March 31, 2025, and 2024. 
 
Future amortization expense from intangible assets as of March 31, 2025, were as follows:

For the Year Ended,

December 31,

Remainder of 2025
 
$
501,825

2026

605,839

Thereafter

-

Total remaining amortization expense
 
$
1,107,664

NOTE 5 – RELATED PARTY TRANSACTIONS
 
Notes Payable – Related Parties 
 
On January 30th, 2024, the Company signed an agreement with a major shareholder for a $165,000 note payable. The note accrues interest at a rate of 1.75% compounded annually and has a maturity date of January 30, 2025 (Note 6 – Promissory and Convertible Notes). The note had interest expense of $3,370 for the three months ended as of March 31, 2025, respectively. As of March 31, 2025, the Company had recorded accrued interest of $3,370 related to the note within accrued interest on the Condensed Consolidated Balance Sheet.
 
AIBiotics Consulting Agreement with the CEO
 
On November 17, 2021, AIBiotics entered into an Executive Consulting Agreement (the “AIBiotics Consulting Agreement”), with Benjamin Kaplan (“BK”) to serve as the Company’s CEO for an initial term of 36 months. As of March 31, 2025 and December 31, 2024, the Company had cash compensation outstanding