Company: VYND
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001079973-25-001679
Chunk: 6

Company: Vynleads, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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ivable,
prepaid expenses and other current assets, and accounts payable and accrued expenses approximate their fair values due to their short-term
maturities as of September 30, 2025 and December 31, 2024.

Recent Accounting Pronouncements

We have evaluated all issued but not yet effective
accounting pronouncements and determined that they are either immaterial or not relevant to us.

4. Related
Party Transactions

On March 16, 2021, the Company
executed a note payable to Mr. Sergei Stetsenko, a member of our Board of Directors, in the amount of $15,000, interest accrues at5%
per annum, unsecured, and due after nine months of execution, or the date in which the Company secures one million dollars in total investment
capital, whichever occurs first. Mr. Sergei Stetsenko signed a conversion agreement effective October 31, 2024. The principal balance
of $15,000and accrued interest of $2,725totaling $17,725converted to177,246shares of common stock as of October 31, 2024.

On June 23, 2023, the Company
executed a note payable to Mr. Sergei Stetsenko, a member of our Board of Directors, in the amount of $25,000, interest accrues at5%
per annum, unsecured, and due after nine months of execution, or the date in which the Company secures one million dollars in total investment
capital, whichever occurs first. Mr. Sergei Stetsenko signed a conversion agreement effective October 31, 2024. The principal balance
of $25,000and accrued interest of $1,702totaling $26,702converted to267,020shares of common stock as of October 31, 2024.

On June 14, 2018, we entered
into an employment agreement with Mr. Mannine pursuant to which he was engaged to serve as our Chief Executive Officer. Mr. Mannine’s
compensation includes a grant of10year options to purchase100,000shares of our common stock at an exercise price of $0.225per share,
which vested upon the effectiveness of the registration statement on December 7, 2018.

On September 21, 2020, Mr.
Mannine voluntarily agreed to cancel the employment agreement and waive all cash due and any related accruals. During the three and nine months ended September 30,