Company: VYND
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001079973-25-001679
Chunk: 11

Company: Vynleads, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 secondary supplier, there could be a manufacturing delay in the transition
to a new supplier and such a supply interruption would materially impact our business for some period of time.

8. Credit
Card Settlement

On May 21, 2024, the Company entered into a settlement
agreement with American Express to settle the Company’s outstanding balance of $6,287. American Express agreed to forgive the remaining
balance if a one-time payment of $1,571was paid. The Company paid the settlement amount and the forgiveness of this debt resulted in
a one-time gain recognized in the Company’s statements for the three and nine months ended June 30 2024 of $4,716.

9. Stockholders’
Deficit

Our authorized capital stock consists of50,000,000shares of common stock, par value $0.0001per share, and5,000,000shares of blank check preferred stock, par value $0.0001per share.
As of September 30, 2025 and December 31, 2024, there are18,327,364shares of common stock
outstanding and there are noshares of preferred stock issued and outstanding at either date.

Contributed Capital

On September 21, 2020, Mr.
Mannine voluntarily agreed to cancel his employment agreement and waive all cash due and any related accruals. The salary forgiven for
the nine months ended September 30, 2025 and 2024 of $97,500and $97,500is treated as in-kind contribution of service reflected as additional
paid-in capital in the statement of stockholder’s deficit (See notes 4 and 6).

Preferred Stock

Our board of directors, without
further stockholder approval, may issue preferred stock in one or more series from time to time and fix or alter the designations, relative
rights, priorities, preferences, qualifications, limitations and restrictions of the shares of each series. The rights, preferences, limitations
and restrictions of different series of preferred stock may differ with respect to dividend rates, amounts payable on liquidation, voting
rights, conversion rights, redemption provisions, sinking fund provisions and other matters. Our board of directors may authorize the
issuance of preferred stock, which ranks senior to our common stock for the payment of dividends and the distribution of assets on liquidation.
In addition, our board of directors can fix limitations and restrictions, if any, upon the payment of dividends on both classes of our
common