Company: ABTC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076632
Chunk: 36

Company: American Bitcoin Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 36
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 Company in the accompanying balance sheets. If it is reasonably possible that an asset may be impaired as of the date
of the financial statement, then the Company discloses the range of possible loss. Expenses related to the defense of such claims are
recorded by the Company as incurred and included in the accompanying statements of operations. Management, with the assistance of outside
counsel, may, from time to time adjust such accruals according to new developments in the matter, court rulings, or changes in the strategy
affecting the Company’s defense of such matters. On the basis of current information, the Company does not believe there is a reasonable
possibility that other than with regard to the Class Action described below, any material loss, if any, will result from any claims, lawsuits,
and proceedings to which the Company is subject to either individually, or in the aggregate.

On September 5, 2024 and September
13, 2024, the Company received deficiency notices from Nasdaq, who have certain stock exchange listing qualification requirements, such
as the Company to maintain a stock price of at least $1.00 and maintain MVLS of at least $35,000,000 (the “Deficiencies”).
The Company had a period of 180 calendar days, or until March 4, 2025 to regain compliance with the minimum bid price requirement. Also,
the Company had a period of 180 calendar days, or until March 12, 2025, to regain compliance with the $35,000,000 MVLS Requirement. On
June 6, 2025, the NASDAQ notified that the Company regained compliance with listing rules for both the minimum bid price and market value.

NOTE 9 - STOCKHOLDERS’ DEFICIT

As of June 30, 2025, the
Company has 155,000,000 shares authorized, of which 150,000,000 shares are common stock and 5,000,000 shares are preferred stock, of which
no class has been designated.

Registered Direct Offering

In January 2025, the Company
entered into a securities purchase agreement (the “Purchase Agreement”) with several institutional and accredited investors
and certain directors and officers of the Company (and certain of their affiliated parties) for the purpose of raising approximately $2,820,000
in gross proceeds for the Company. Of the gross proceeds, approximately $670,000 was received in December 2024 with approximately $2,150,000