HyperBlock Inc. provided the status of two promissory notes (the "Notes") issued by Hyperblock LLC ("LLC") and the Company. The Company confirms that Project Spokane LLC, a company controlled by Sean Walsh, former Chairman and CEO of the Company, accelerated the maturity date of the LLC Note, and demand has been made for payment by LLC of the outstanding obligations in the amount of approximately CAD 5,220,000, which includes the outstanding principal balance plus accrued interest and expenses. The Company is also reporting an accelerated maturity date of a Note issued by LLC to Sean Walsh having outstanding obligations of approximately USD 2,100,000, which includes the outstanding principal balance plus accrued interest and expenses. The amounts due under the Notes were accelerated due to an event of default resulting from the Company failing to pay interest, when due, on the Notes. The Company is working with the lenders of the Notes and the Company's financial advisors to determine an appropriate course of action.