Company: CBLO
Filing Date: 2025-02-03
Form Type: 10-Q
Source: 0001599916-25-000009
Chunk: 3

Company: C2 Blockchain, Inc.
Filing Date: 2025-02-03
Form: 10-Q
Item: Item 1
Chunk 3
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 prices that are observable for the asset or liability (e.g., interest rates); and inputs that are
derived principally from or corroborated by observable market data by correlation or other means.

- Level 3 - Inputs that are both
significant to the fair value measurement and unobservable.  

Fair value estimates discussed herein
are based upon certain market assumptions and pertinent information available to management as of December 31, 2024. The respective carrying
value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments.
These financial instruments include accrued expenses.

Related
Parties 

The Company follows ASC 850, Related
Party Disclosures, for the identification of related parties and disclosure of related party transactions.

Share-Based
Compensation

ASC 718, “Compensation –
Stock Compensation”, prescribes accounting and reporting standards for all share-based payment transactions in which employee
services are acquired. Transactions include incurring liabilities, or issuing or offering to issue shares, options, and other equity instruments
such as employee stock ownership plans and stock appreciation rights. Share-based payments to employees, including grants of employee
stock options, are recognized as compensation expense in the financial statements based on their fair values. That expense is recognized
over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period
(usually the vesting period).

The Company accounts for stock-based
compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, “Equity – Based Payments
to Non-Employees.”  Measurement of share-based payment transactions with non-employees is based on the fair value
of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued.  The fair value
of the share-based payment transaction is determined at the earlier of performance commitment date or performance completion date.  

The Company had no
stock-based compensation plans as of December 31, 2024, and June 30, 2024.

The Company’s stock-based compensation
for the periods ended December 31, 2024, and December 31, 2023, was $0 for both periods.

Recently
Issued Accounting Pronouncements 

The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does
not believe that there are any other new pronouncements that have been