Company: VYND
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001079973-25-000779
Chunk: 6

Company: Vynleads, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 6
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ures 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 $15,000 and accrued interest of $2,725 totaling $17,725 converted to 177,246 shares 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 at 5%
per annum, unsecured, and due after six 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 $25,000 and accrued interest of $1,702 totaling $26,702 converted to 267,020 shares 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 of 10 year options to purchase 100,000 shares of our common stock at an exercise price of $0.225 per 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 periods ending March
31, 2025 and March 31, 2024, $32,500 and $32,500, respectively, is recorded as in-kind contribution of service provided by Mr. Mannine
(See Note 10).

On January 23, 2024, Mr. Sergei Stetsenko sold 1,250,000
shares of common stock to Christos Livadas, Director of Weiser Global Capital, who is a current debt holder of notes payable. Effective
January 23, 2024, notes payable associated to Christos Livadas, Weiser Global Capital, or WG Capital, are reflected as related party debt.

    10 
    VYNLEADS, INC.NOTES TO CONDENSED FINANCIAL STATEMENTSMarch