Due to Target Company |
12 Months Ended |
|---|---|
Nov. 30, 2025 | |
| Due To Target Company | |
| Due to Target Company | Note 8 — Due to Target Company
In connection with the Extension, the Vesicor agreed to contribute half the Extension Payment. For the year ended November 2025 and 2024, Vesicor contributed $575,000 and $0, respectively. The amount provided is interest free and will be reimbursed by the surviving company’s common stock upon closing of the business combination. The loan can be converted at $9.40 per share. If, 180 days after closing, the company’s common stock is trading at $5.00 or lower, the reimbursement rate will increase to $5.00 per share, with additional ordinary shares issued to compensate the Target for the monetary value paid. |