| Schedule of Outstanding Principal and Accrued Interest Shall Convert into Shares of SEE ID at a Discount |
The
table below summarizes the transaction:
| Bridge Loans | | Effective Date | | Amount | | | Interest at closing | | | Payback in
Cash | | | Payback in
shares at
$4/share | | | Shares | | | Bridge loan 1* | | 1/29/2025 | | $ | 1,500,000 | | | $ | 150,000 | | | $ | (193,500 | ) | | $ | 1,456,500 | | | | 364,125 | | | Bridge loan 2* | | 4/9/2025 | | | 500,000 | | | | 50,000 | | | | (50,000 | ) | | | 500,000 | | | | 125,000 | | | Bridge loan 3* | | 5/7/2025 | | | 500,000 | | | | 50,000 | | | | (50,000 | ) | | | 500,000 | | | | 125,000 | | | Bridge loan 4 | | 3/29/2025 | | | 100,000 | | | | 10,000 | | | | (110,000 | ) | | | - | | | | - | | | Bridge loan 5 | | 6/5/2025 | | | 250,000 | | | | 20,000 | | | | (270,000 | ) | | | - | | | | - | | | Total | | | | $ | 2,850,000 | | | $ | 280,000 | | | $ | (673,500 | ) | | $ | 2,456,500 | | | | 614,125 | |
| * | Bridge loans from this investor had an aggregate principal amount of $2,500,000. At the Closing of the Business Combination, the investor received a cash payment of $293,500, consisting of $250,000 in minimum 10% interest and $43,500 in principal repayment. In addition, the investor received 614,125 shares of Common Stock in exchange for $2,456,500 of combined principal and accrued interest, based on a per share price of $4.00. |
|
In the event SEE ID is unable to repay these loans by the end of the term, the outstanding principal and accrued
interest shall convert into shares of SEE ID at a discount of an additional 10%.
| Effective Date | |
Loan Amount | |
| January 29, 2025* | |
$ | 1,500,000 | |
| March 29, 2025** | |
| 100,000 | |
| April 9, 2025* | |
| 500,000 | |
| May 7, 2025* | |
| 500,000 | |
| June 5, 2025*** | |
| 250,000 | |
| | |
$ | 2,850,000 | |
| * | Bridge loans from this investor (who, as discussed below, is also a PIPE investor) had an aggregate principal amount of $2,500,000. At closing of the BCA (as defined in the Business Combination disclosure below) on June 18, 2025, the investor received a cash payment of $293,500, comprised of $250,000 of minimum 10% interest and $43,500 of principal repayment, and a number of shares equivalent to $2,456,500 at a per share price of $4. |
| ** | Aggregate loan principal and minimum 10% interest totaling $110,000 was paid in cash at closing of the
BCA on June 18, 2025. |
| *** | Aggregate loan principal and minimum 8% interest totaling $270,000 was paid in cash at closing of the
BCA on June 18, 2025. |
|