Company: LAAI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001683168-25-006093
Chunk: 11

Company: Loan Artificial Intelligence Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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6. On December 29, 2022, Vestiage,
Inc., a Florida corporation, executed a Share Exchange Agreement and with Fun Fitness Corporation (“FFC” the “Subsidiary”),
a Wyoming corporation. On January 12, 2023 the acquisition closed and the Company acquired 100% of the issued stock and 1,000,000 shares
of Convertible Series A Preferred Stock in exchange for 625 shares of VEST restricted Common Stock.

On December 31, 2023,
Vestiage, Inc. disposed of its subsidiary, Fun Fitness Corporation (‘FFC’), by returning the 1,000,000 shares of Convertible
Series A Preferred Stock acquired during the merger. The Company recognized a gain of $7,748 on disposal, calculated as the difference
between the net asset carrying value and the fair value of the consideration received, which was $0. No remaining interests are held in
FFC, and the disposal is not classified as a discontinued operation due to the absence of a strategic shift in operations.

Prior to the disposal,
the Company’s subsidiary, FFC, was involved in the fitness event planning industry. FFC’s services included competition planning,
vendor management, securing equipment, and coordinating food and volunteers for events. FFC also organized holiday and new member celebrations
for local gyms.

Opportunities may come
to the Company’s attention from various sources, including our management, our stockholders, professional advisors, securities broker
dealers, venture capitalists and private equity funds, members of the financial community and others who may present unsolicited proposals.
At this time, the Company has no plans, understandings, agreements, or commitments with any individual or entity to act as a finder in
regard to any business opportunities. While it is not currently anticipated that the Company will engage unaffiliated professional firms
specializing in business acquisitions, reorganizations or other such transactions, such firms may be retained if such arrangements are
deemed to be in the best interest of the Company. Compensation to a finder or business acquisition firm may take various forms, including
one-time cash payments, payments involving issuance of securities (including those of the Company), or any combination of these or other
compensation arrangements. Consequently, the Company is currently unable to predict the cost of utilizing such services.

The Company has not restricted
its search to any particular business, industry, or geographical location. In evaluating a potential transaction, the Company analyzes
all available factors and