Company: AIBT
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001096906-25-001375
Chunk: 22

Company: AIBOTICS, INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Item 8
Chunk 22
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 as of June 30, 2025, the related 2,000,000 shares of common stock were issued subsequent to the period end, in July 2025.
 
On January 21, 2022, the Company issued a lender (“Lender E”) a convertible note payable with principal of $325,000 and an original issue discount of $75,000. The note matures after 24 months and has an effective interest rate of 8%. As of June 30, 2025, and 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 $0.975 per share. 
 
On January 30, 2024, the Company signed an agreement with a major shareholder (“Lender F”) 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 5 – Related Party Transactions).
 
During the year ended December 31, 2021, the Company issued three convertible notes payable. In accordance with the terms of the note agreements, during the year ended December 31, 2022, the Company received notice to convert the three notes into shares of the Company’s common stock. As a result, an aggregate of $232,500 in principal and $13,145 in interest was converted into 245,645 shares of common stock (Note 7 – Stockholders’ Equity). Following the conversion, $2,407 of accrued interest remained outstanding and owed to one of the note holders (“Lender D”). As of the six months ended June 30, 2025, the Company notes all convertible notes payables are currently in default.
 
On May 6, 2025, the Company issued a lender (“Lender G”) a convertible note payable with principal of $275,000 and an original issue discount of $25,000. The note matures after 24 months and has an effective interest rate of 10%. 
 
The following tables reflects a summary of the outstanding principal and interest by each lender and their respective maturity date as of June 30, 2025 and December 31, 2024:

June 30, 2025
 
December 31, 2024

Maturity Date
 
Total Outstanding***
 
Principal
 
Interest