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Due to Target Company
9 Months Ended
Aug. 31, 2026
Due To Target Company  
Due to Target Company

Note 8 — Due to Target Company

 

In connection with the Extension, Vesicor agreed to pay one-half of the Extension Payment and certain merger costs. For the three and nine months ended August 31, 2026, the Company received $283,919 and $1,009,721, respectively, from Vesicor. On June 30, 2026, Black Hawk and Vesicor entered into a Debt Forgiveness Agreement under which Vesicor forgave $1,015,988 in advances previously made by Vesicor to or on behalf of Black Hawk. As of August 31, 2026 and November 30, 2025, outstanding amounts totaled $568,733 (excluding $1,015,988 forgiven advances) and $575,000, respectively. See Note 1 for a detailed description of the Debt Forgiveness Agreement.