Company: CLOQ
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023402
Chunk: 9

Company: CYBERLOQ TECHNOLOGIES, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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have been built and have been successfully integrated into the banking ecosystem.

The
CyberloQ Vault is a “cloud based’ security protocol that allows clients the ability to send/receive secure data without having
to use traditional e-mail which is prone to a breach. This CyberloQ service uses cloud-based encryption and a secure web portal to send/receive
confidential data, the sender and receiver both must have authenticated their position within the prescribed geo coordinates as well
as authenticate their mobile devices prior to sending/receiving any data. Thus, rendering a hack or breach utterly useless for the encrypted
data is unusable without the CyberloQ authentication component.

In
addition to CyberloQ, the Company offers a web-based proprietary software platform under the brand name Turnscor® which
allows customers to monitor and manage their credit from the privacy of their own homes. Although individuals can sign-up for Turnscor
on their own, the Company also intends to market Turnscor to certain institutional clients, where appropriate, in conjunction with CyberloQ
as a value-added benefit to offer their customers.

Basis
of Presentation

The
financial statements of the Company have been prepared using the accrual basis of accounting in accordance with generally accepted accounting
principles in the United States of America and the rules of the Securities and Exchange Commission. All amounts are presented in U.S.
dollars. The Company has adopted a December 31 fiscal year end.

Certain
information and note disclosures normally included in our annual financial statements prepared in accordance with generally accepted
accounting principles have been condensed or omitted. These consolidated financial statements should be read in conjunction with a reading
of the financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024,
as filed with the U.S. Securities and Exchange Commission.

Principles
of Consolidation – The consolidated financial statements include the accounts of the Company and its wholly-owned or controlled
operating subsidiaries. All intercompany accounts and transactions have been eliminated.

Use
of Estimates

In
preparing these financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities
in the balance sheets and revenues and expenses during the year reported. Actual results may differ from these estimates. The Company
bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable
under the circumstances, the results of which form the basis for making judgments about the