AIBOTICS, INC. (AIBT) Form 8-K — Oct 16, 2026
Aibotics Inc. completed the acquisition of the NovaCore Labs robotics, drone, AI and mapping assets from PlayJamaica Limited on October 14, 2026, paying with 22,500 Series B Preferred shares valued at $225,000, with up to $3,000,000 more in preferred stock earnable against $5,000,000 of cumulative gross revenue over four years. PlayJamaica principals Gregory Moore and Ryan Moore joined the new Jamaican subsidiary as CEO and VP under three-year employment agreements, each receiving 50,000,000 common shares vesting over three years plus net-income bonuses capped at $500,000 per year.
Key figures
- Deal Value Usd
- $225,000 initial (22,500 Series B Preferred shares) plus up to $3,000,000 earn-out
- Shares Offered
- 22,500 Series B Preferred shares; up to 50,000,000 common shares to each of Gregory Moore and Ryan Moore
- Earnout maximum
- $3,000,000 in Series B Preferred Stock for up to $5,000,000 cumulative gross revenue over 4 years
- Earnout tranches
- four tranches of $750,000 each at $500,000 / $1,500,000 / $3,000,000 / $5,000,000 cumulative revenue
- Conversion blocker
- 4.9% beneficial ownership limit
- Assumed liabilities
- approximately $35,000
- Conversion discount
- converts at 80% of lowest closing price during prior 20 trading days
- Employee bonus caps
- Gregory Moore 10% of NovaCore net income, Ryan Moore 8%, each capped at $500,000/year
- Repurchase note interest
- 8% per annum
- Employee milestone awards
- $625,000 face value Series B Preferred at $1M revenue by year 2 and $2M revenue by year 3
- Series b conversion price
- $10.00 initial
- Subsidiary funding commitment
- $1,000,000 over 12 months, intended from a Regulation A offering
AI analysis
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