Raadr Inc (RDAR)

[BigBadWolf]

Note 6 - Related Party Transactions
As of December 31, 2023, the amount included within accrued liabilities related to payroll due to the Company’s form Chief Executive
Officer, was $617,921, respectively. Effective June 30, 2024, the Company determined that the amount owing to its former Chief
Executive Officer in the total amount of $$752,921 should be written off and such amount was included in the gain on write-off of debt
for the year ended December 31, 2024.
In November 2024, the Company paid bonuses to its executive officers, as follows:
•We issued a $50,000 principal amount convertible promissory note to our Chief Executive Officer, Daniel
Contreras, in payment of a performance bonus, which convertible promissory note was amended and restated on
February 17, 2025.
•We issued a $300,000 principal amount convertible promissory note to our President, Orlando Taddeo, in payment
of a performance bonus, which convertible promissory note was amended and restated on February 17, 2025.
•We issued a $300,000 principal amount convertible promissory note to our President, Orlando Taddeo, in payment
of a bonus associated with Mexedia DAC’s debt restructuring, which convertible promissory note was amended and
restated on February 17, 2025.
•We issued a $200,000 principal amount convertible promissory note to our Chief Financial Officer, Daniel
Gilcher, in payment of a performance bonus (this note was issued in the name of Otus, LLC, a company owned by
Mr. Gilcher), which convertible promissory note was amended and restated on February 17, 2025.
•We issued a $200,000 principal amount convertible promissory note to our Chief Financial Officer, Daniel
Gilcher, in payment of a bonus associated with Mexedia DAC’s debt restructuring (this note was issued in the name
of Otus, LLC, a company owned by Mr. Gilcher), which convertible promissory note was amended and restated on
February 17, 2025.
Each of Messrs. Contreras, Taddeo and Otus, LLC has waived his or its respective rights to convert his or its respective
convertible promissory notes into shares of common stock qualified in this offering. In the future, it is possible that our company and
such noteholders may agree, depending on then-stock market conditions and other business factors, to a restoration of such conversion
rights. No prediction can be made, in this regard.