Subsequent Events

9 Months Ended

Sep. 30, 2025

Note 14 - Subsequent Events

The Company has evaluated its operations subsequent to September 30, 2025 to the date these unaudited consolidated financial statements were available to be issued and determined the following subsequent events and transactions required disclosure in these consolidated financial statements.

The Merger Between Bannix and VisionWave was closed on July 14, 2025 and the Company holdings in Visionwave Technologies been converted into holdings in VisionWave Holdings, Inc publicly traded on NASDAQ under the Ticker VWAV.

Here is the breakdown of the Company and Tokenize holdings in VisionWave Holdings post closings:

Schedule of Shareholders
Shareholder’s Name	No. Of Shares		% of Shares Held
GBT Tokenize Corp.		897,102		6.286	%
GBT Technologies, Inc.		2,020,500		14.158	%

On July 21, 2025, Danny Rittman notified the Company of his resignation from his position as Chief Technology Officer and as a member of the Board of Directors effective immediately. Dr. Rittman’s resignation was due to his need to commit to his role a Chief Technology Officer of VisionWave Holdings, Inc. and was not the result of any disagreement with the Company on any matter relating to its operations, policies, or practices.

Perpetual Exclusive Patent License Agreement

On November 12, 2025, after the balance-sheet date but prior to the issuance of these financial statements, GBT Tokenize Corp., a wholly owned subsidiary of the Company (“Licensor”), entered into a Perpetual Patent License Agreement (Exclusive) with Boca Jom LLC (“Licensee”). Under the agreement, the Licensor granted the Licensee an exclusive, worldwide, perpetual, irrevocable, transferable, and sublicensable license to make, use, sell, offer for sale, import, export, and commercialize products and services covered by three United States patents and their related families:

US 11,763,062; US 11,853,682; and US 11,586,799.

In consideration for the rights granted, Licensee will pay the Licensor a running royalty of five percent (5%) of Patent-Derived Revenue, as defined in the agreement. The Licensee is required to provide quarterly royalty reports, maintain auditable records, and permit an annual royalty audit. The Licensor retains ownership of the Patent Rights and limited internal research right.

The agreement also provides:

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Licensee has the first right to enforce the Patent Rights against infringers, at its own expense;

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Any enforcement recoveries, net of costs, are treated as Patent-Derived Revenue;

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Licensor may step in if Licensee elects not to pursue enforcement; and

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Licensor may reassign prosecution or maintenance responsibilities under certain circumstances.

GBT Technologies Inc. 10-Q