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SAFE PRIVATE PLACEMENTS
 12 Months Ended
Dec. 31, 2023
Semi Cab Inc [Member]  
SAFE PRIVATE PLACEMENTS

NOTE 11 –SAFE PRIVATE PLACEMENTS

 

Beginning on October 25, 2018 through April 22, 2023, the Company entered into a total of 50 separate Simple Agreements for Future Equity (“SAFE Agreements”). 45 distinct counterparties entered into subscription agreements with the Company, investing a total of $5,038,820 during this period. The terms of these SAFE Agreements varied slightly over the course of this time frame. All of these investments were made in the form of a private placement under Reg D and were considered exempt from registration at that time.

 

 

The table below summarizes the first tranche of subscriptions, all with the same terms and conditions.

 

SCHEDULE OF FIRST TRANCHE OF SUBSCRIPTIONS

ID  Convertible Holder Name  Principal   Issue Date  Valuation Cap   Converted Date
SAFE-1  Ardhendu Haldar  $250,000   10-25-2018  $10,000,000   12-25-2020
SAFE-38  Praveen Kaza  $100,000   10-25-2018  $13,000,000   12-25-2020
SAFE-41  Kurt W Mattson  $50,000   03-27-2019  $20,000,000   12-25-2020
SAFE-42  Wendy A Thompson  $50,000   03-27-2019  $20,000,000   12-25-2020
SAFE-44  Sonata Software North America Inc.  $468,041   02-24-2020  $10,000,000   12-25-2020
SAFE-43  THE IRA CLUB F/B/O RANJU MAHESHWARI ROTH IRA 2000201  $25,000   06-15-2020  $10,000,000   12-25-2020
Total     $943,041            

 

A total of six investors subscribed for a total of $943,041 was invested at a valuation of $10,000,000. On December 25, 2020, all of these SAFE Agreements were converted to preferred equity and the underlying subscription agreements were cancelled. These are the only SAFE Agreements converted to date.

 

From August 12, 2021 to April 22, 2023, the Company entered into the remaining 44 SAFE Agreements with a total of 39 individual counterparties. The total amount of capital invested under these subscriptions was $4,095,779. The primary difference in the terms of this tranche of capital raised was the valuation placed on the Company, which increased from a valuation of $10,000,000 under the first tranche to $35,000,000 under the second tranche. None of the second tranche of SAFE Agreements have been converted, cancelled, or otherwise amended.

 

 

The table below summarizes the remaining 44 SAFE Agreements, all of which are expected to terminated immediately after closing of the Transaction.

 

ID  Convertible Holder Name  Principal   Issue Date  Valuation Cap 
SAFE-40  Sunil Bhatia  $250,000   08-12-2021  $15,000,000 
SAFE-39  Pallav Gupta  $15,000   08-12-2021  $15,000,000 
SAFE-10  The Bhardwaj 2003 Revocable Trust  $200,000   12-31-2021  $35,000,000 
SAFE-11  Praveen Kaza  $50,000   12-31-2021  $35,000,000 
SAFE-12  Pallav Gupta  $20,000   12-31-2021  $35,000,000 
SAFE-13  Amit and Anju Bhardwaj  $50,000   12-31-2021  $35,000,000 
SAFE-14  Komal Bajaj  $50,000   12-31-2021  $35,000,000 
SAFE-15  Goel Trust, Dated Aug 2, 2000  $100,000   12-31-2021  $35,000,000 
SAFE-16  Sanjiva Singh  $100,000   12-31-2021  $35,000,000 
SAFE-17  Rajeev Agarwal  $25,000   12-31-2021  $35,000,000 
SAFE-18  Sanyogita and Sunil Gupta  $25,000   12-31-2021  $35,000,000 
SAFE-19  SEM Gaingels Fund I, a series of JMWTX Investments, LP  $300,279   12-31-2021  $35,000,000 
SAFE-2  FVI Fund LLC  $50,000   12-31-2021  $35,000,000 
SAFE-20  JWass PT Investors, LP - B2  $10,000   12-31-2021  $35,000,000 
SAFE-21  Medhavi Gupta  $20,000   12-31-2021  $35,000,000 
SAFE-22  Sundeep Sibal  $50,000   12-31-2021  $35,000,000 
SAFE-24  Jolly Gupta  $35,000   12-31-2021  $35,000,000 
SAFE-3  Ashutosh Malaviya  $50,000   12-31-2021  $35,000,000 
SAFE-4  Consensia Inc  $50,000   12-31-2021  $35,000,000 
SAFE-45  Atula Sibal  $50,000   12-31-2021  $35,000,000 
SAFE-6  Ajay Bhatnagar  $100,000   12-31-2021  $35,000,000 
SAFE-7  Pankaj Sinha  $50,000   12-31-2021  $35,000,000 
SAFE-8  Bakulesh Adya  $35,000   12-31-2021  $35,000,000 
SAFE-9  Alok Mahajan  $50,000   12-31-2021  $35,000,000 
SAFE-5  BANSAL GARG FAMILY TRUST AMIT BANSAL TRTEE KARUNA GARG TRTEE U/A 11/07/2017  $100,000   12-31-2021  $35,000,000 
SAFE-25  Disrupt Fund XVIII, LLC  $50,000   01-24-2022  $35,000,000 
SAFE-26  Ajatshatru and Manju Dhawal  $25,000   01-31-2022  $35,000,000 
SAFE-27  Mrityunjay Dhawal  $25,000   01-31-2022  $35,000,000 
SAFE-28  You Sexy Dawg, LLC  $50,000   01-31-2022  $35,000,000 
SAFE-29  Elisa deLaet  $25,000   01-31-2022  $35,000,000 
SAFE-30  Ardhendu Haldar  $100,000   02-28-2022  $35,000,000 
SAFE-31  Suzanne and Tom Lambert  $250,000   02-28-2022  $35,000,000 
SAFE-32  Nidus Capital Holdings, LLC  $250,000   02-28-2022  $35,000,000 
SAFE-33  Compelling Natural Health II, LLC  $250,000   02-28-2022  $35,000,000 
SAFE-34  Birch Hill Capital Group, LLC  $250,000   02-28-2022  $35,000,000 
SAFE-35  Ingrid P. Maes as Trustee of The IPM Irrevocable Trust dated September 1, 2022  $250,000   02-28-2022  $35,000,000 
SAFE-36  Nattoceuticals, LLC  $250,000   02-28-2022  $35,000,000 
SAFE-37  Pallav Gupta  $60,000   02-28-2022  $35,000,000 
SAFE-46  Gaingels Semicab LLC  $130,500   03-21-2023  $35,000,000 
SAFE-50  Pankaj Sinha  $50,000   04-04-2023  $35,000,000 
SAFE-48  Lucy Holifield  $70,000   04-14-2023  $35,000,000 
SAFE-47  Corvus Albus LLC  $100,000   04-19-2023  $35,000,000 
SAFE-49  David Friedland  $50,000   04-19-2023  $35,000,000 
SAFE-51  Kapil K Gupta  $25,000   04-22-2023  $35,000,000 
TOTAL     $4,095,779