Company: AIBT
Filing Date: 2025-07-03
Form Type: 253G2
Source: 0001096906-25-001087
Chunk: 84

Company: AIBOTICS, INC.
Filing Date: 2025-07-03
Form: 253G2
Chunk 84
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 board compensation is included as part of Accounts payable and accrued expenses on the consolidated balance sheets. NOTE 6 – PROMISSORY AND CONVERTIBLE NOTES On August 27, 2021, the Company issued a lender (“Lender A”) a convertible note payable with principal of $500,000 and an original issue discount of $50,000. The note matures after 24 months and has an effective interest rate of 8%. As of December 31, 2024, this convertible note payable was in default and therefore classified as a current liability. Default interest accrues at a rate of 20% upon default, and the default conversion price is $0.75 per share. As of December 31, 2024 and 2023, the Company had an outstanding principal amount of $500,000 due to this lender as a result of the note. As of December 31, 2024, the Company converted $110,000 of accrued interest into common shares pursuant to the terms of an existing convertible note agreement. Although the conversion was effective as of December 31, 2024, the related shares were issued subsequent to year-end, in January 2025. On September 17, 2021, the Company issued a lender (“Lender B”) a convertible note payable with principal of $55,000 and an original issue discount of $5,000. The note matures after 24 months and has an effective interest rate of 8%. As of December 31, 2024, this convertible note payable was in default and therefore classified as a current liability. Default interest accrues at a rate of 20% upon default, and the default conversion price is $0.75 per share. As of December 31, 2024 and 2023, the Company had an outstanding principal amount of $55,000 due to this lender as a result of the note. On October 27, 2021, the Company issued a lender (“Lender C”) a convertible note payable with principal of $220,000 and an original issue discount of $20,000. The note matures after 24 months and has an effective interest rate of 8%. As of December 31, 2024, this convertible note payable was in default and therefore classified as a current liability. Default interest accrues at a rate of 20% upon default, and the default conversion price is $0.75 per share. As of December 31, 2024 and 2023,