Company: BSAI
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001096906-25-001383
Chunk: 10

Company: BLUSKY AI INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 10
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Accounts payable and accrued liabilities at June 30, 2025 and December 31, 2024 consisted of the following:   June 30, 2025  December 31, 2024 Accounts Payable $643,418  $518,930 Accrued Liabilities  1,236,788   1,226,857 Accrued Salaries and Benefits  134,719   - Total Accrued Liabilities $2,014,925  $1,745,787 

6. Notes Payable Notes payable were comprised of the following as of June 30, 2025 and December 31, 2024: Notes Payable June 30, 2025  December 31, 2024 Phil Zobrist $60,000  $60,000 Antczak Polich Law LLC  65,000   65,000 Total Notes Payable  125,000   125,000 Less Short-Term Notes Payable  (125,000 )  (125,000 )Total Long-Term Notes Payable $-  $- 

 F-10Table of Contents

 Phil Zobrist – On January 11, 2013, the Company issued an unsecured Promissory Note to Phil Zobrist in the principal amount of $60,000 (the “Note”) due on demand and bearing 0% per annum interest. The total net proceeds the Company received was $60,000. On October 2, 2015, the Company entered into a new convertible note with Phil Zobrist that matures on December 31, 2016 and bears 18% per annum interest. The Company agreed to accrue interest from inception of these Notes in the amount of $29,412 and charged this amount to interest expense during the year ended December 31, 2015. The Note is convertible into common stock, at holder’s option, at a price of $0.99 (0.18 pre-split) or a 50% discount to the average of the three lowest VWAP of the common stock during the 20-trading day period prior to conversion. On October 2, 2016, the Company renegotiated the note payable. The convertible feature was removed, and the note was extended until December 31, 2024.