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Subsequent Events
3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]  
Subsequent Events

Note 14: Subsequent Events

 

2026 Bridge financing

 

On April 10, 2026 the Company entered into a 10% Original Issue Discount Convertible Promissory Note with Pinz Capital, with a $50,000 purchase price. The note bears interest of 10%, and has a maturity date of 12 months from the date of the note. Under the terms of the note, the Company is obligated to repay a total of $55,000 as the note includes a 10% original issue discount. The note may be converted into common stock of the Company at the lessor of $0.15 per share or 65% of the lowest trading price for the prior ten trading days, subject to certain adjustments.

 

On April 23, 2026 the “Company received funding from a new institutional investor in the Company using the 2026 Bridge Note previously executed with other of its historical investors. The note bears interest of 10%, and has a maturity 12 months from the date of the note. Under the terms of the note, the Company is obligated to repay a total of $55,000 as the note includes a 10% original issue discount. at the lessor of $0.15 per share or 65% of the lowest trading price for the prior ten trading days, subject to certain adjustments.

 

Series X Preferred Stock dividend payments for Q1 FY2026

 

In April 2026, the Company issued a total of 222,142 shares of restricted common stock for the payment of its dividends on its Series X Preferred shares for Q1 FY2026. The issuances will be as follows: Leath – 12,664 shares, Balencic – 12,664 shares, Mitchell – 12,664, Clifton – 12,664 shares, Anglo Irish – 171,486 shares.

 

Series A Preferred Stock redemptions for Q1 FY2026

 

In April 2026, the Company issued a total of 2,922,915 shares in redemption of $201,400 of its Series A Preferred Stock for Q1. The issuances were as follows: Pinz Capital – 352,424 shares, GS Capital – 874,810 shares (reduced from allowable to stay under 5% in total holdings), Jefferson Street – 208,743 shares, AJB – 874,810 shares (reduced from allowable to stay under 5% in total holdings), Cavalry/Mercer/CM – 612,128 shares in aggregate (reduced from allowable to stay under 5% total holdings). These issuances resulted in the reduction of Series A Preferred stock of $201,400, and the remaining outstanding face value, after giving effect to these issuances of the Series A Preferred shares, is $12,927,475.

 

Series X Preferred Stock issuances

 

On April 20, 2026, the Board of Directors has approved the issuance of additional shares of its Series X Preferred stock whereby each director shall receive $60,000 of Series X Preferred stock as a part of their compensation for FY2026. An aggregate of $180,000 or 7,200 shares of Series X were issued as a result.

 

On April 20, 2026, the Board of Directors has approved the issuance of additional shares of its Series X Preferred stock whereby A historical shareholder, Anglo Irish Investments, LLC shall receive $60,000 of Series X Preferred stock as consideration for its assistance in evaluating certain acquisitions

  

As of a result of these issuances there are now 51,703 shares of Series X Preferred Stock outstanding.