Company: CBLO
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001882781-25-000034
Chunk: 220

Company: C2 Blockchain, Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 7
Chunk 220
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 increased level of operations, including $84,000 in
accrued officer compensation under an employment agreement entered into in February 2025, as well as increased professional and administrative
fees.

Other
Income (Loss)

During
the fiscal year ended June 30, 2025, we recorded a nominal loss of $2 from the sale of cryptocurrency and an impairment loss of $12,668.
There was no comparable activity during the fiscal year ended, June 30, 2024.

Net
Loss

Our
net loss for the fiscal year ended June 30, 2025 was $235,265, compared to a net loss of $30,020 for the fiscal year ended June 30, 2024.
The increase in net loss primarily reflects higher operating expenses due to the increased level of operations, including professional
and administrative fees and officer compensation.

Liquidity
and Capital Resources

As
of June 30, 2025, the Company had total assets of $75,551 (including $9 in cash, $62,474 in cryptocurrency, all of which was ADA tokens,
and $13,068 in prepaid expenses), total liabilities of $84,000 (all accrued officer compensation), and a stockholders’ deficit
of $8,449. Net cash used in operating activities was $149,333 for the fiscal year ended June 30, 2025, compared to $30,020 for the
fiscal year ended June 30, 2024, reflecting increased corporate expenses and compensation accruals. Net cash used in investing activities
was $62,474 for the fiscal year ended June 30, 2025, related to cryptocurrency purchases, with no investing activities in fiscal 2024.
Net cash provided by financing activities was $211,786 for the fiscal year ended June 30, 2025, primarily attributable to sales of our
common stock, including $223,000 in common stock sales and $50,000 in proceeds for shares payable, partially offset by repayment of a
$61,214 related-party loan. In fiscal 2024, financing activities consisted solely of a $30,050 loan from our sole officer and director.
We have incurred recurring losses from operations since inception and expect to continue incurring losses until such time as we commence
profitable cryptocurrency mining operations or other revenue-generating activities. We will require additional funding, likely through
equity financing or related-party contributions, to sustain operations. There can be