DAIC News & Events

Dot Ai announced a series of actions to fortify its balance sheet and simplify its capital structure, including the retirement in full of its outstanding secured convertible promissory notes held by White Lion Capital, in the aggregate principal amount of approximately $867,000. The retirement releases the security interests that secured the notes, eliminates the associated debt obligation and further simplifies the Company's capital structure. In addition, as previously contemplated in the previously announced non-binding LOI, a potential new investor has agreed to provide $500,000 of new capital to the Company through an additional secured convertible note. This new capital provides Dot Ai with incremental resources to support its operating initiatives and general corporate purposes.

Dot Ai announced that the Company is exploring a range of strategic alternatives, including, but not limited to, a sale of the Company, a merger or other business combination, a strategic partnership or joint venture, licensing arrangements, a recapitalization, additional financing transactions, continued execution of the Company's standalone operating plan or a liquidation and dissolution. In connection with the process, the Company has engaged Cohen & Company Capital Markets, a division of J.V.B. Financial to serve as its exclusive financial advisor.