Item 1.01 Entry into a Material Definitive Agreement.
Modification-Extension of Maturity Date
On November 10, 2021 (the "Issue Date"), Tribal Rides International Corp., a
Nevada corporation (the "Company"), entered into a Securities Purchase Agreement
(the "SPA") with AJB Capital Investments, LLC, a Delaware limited liability
company (the "Lender"), for the purchase of a Convertible Promissory Note in the
principal amount of $290,000 (the "Note"). The Note was to originally mature on
May 10, 2022, subject to a six-month extension at the Company's request. The
Company exercised the six-month extension changing the maturity date of the Note
to November 10, 2022.
On November 10, 2022, the Company entered into the first Modification-Extension
of Maturity Date with the Lender pursuant to which the maturity date of the Note
was changed to February 10, 2023. In addition, the Company agreed to issue to
the Lender 600,000 shares of Common Stock and to register the resales of the
shares no later than May 9, 2023.
On January 31, 2023, the Company entered into the second Modification-Extension
of Maturity Date with the Lender pursuant to which the maturity date of the Note
was changed to August 10, 2023. In addition, the Company agreed to issue to the
Lender 1,000,000 shares of Common Stock (the "Extension Shares") and to register
the resales of the shares (as well as the previously-issued 600,000 shares) no
later than October 31, 2023 (with the S-1 registration statement to be filed
with the SEC no later than August 10, 2023).
Item 3.02 Unregistered Sales of Equity Securities.
On the Company's last Quarterly Report on Form 10-Q for the period ended
September 30, 2022 filed with the SEC on November 18, 2022 (the "Form 10-Q"),
the Company disclosed that, on November 10, 2022, the Company had 36,502,500
shares of Common Stock issued and outstanding. Since November 10, 2022, the
Company has issued shares of Common Stock exceeding 5% of the issued and
outstanding shares disclosed in the Form 10-Q.
On December 31, 2022, an aggregate of 1,000,000 shares of Common Stock
previously awarded to Don Smith, the Company's CFO, and Steven Ritacco, the
Company's CTO, vested (the "Vested Shares") and the Vested Shares were issued.
On January 31, 2023, pursuant to the second Modification-Extension of Maturity
Date between the Company and the Lender, the Company issued the Extension
Shares.
The Lender and the recipients of the Vested Shares each delivered to the Company
appropriate investment representations with respect to the Extension Shares (for
the Lender) and the Vested Shares (for the CFO and CTO) and consented to the
imposition of a restrictive legend upon the Extension Shares and the Vested
Shares, respectively. Neither the Lender nor the officers entered into the
transaction with the Company as a result of or subsequent to any advertisement,
article, notice, or other communication published in any newspaper, magazine, or
similar media or broadcast on television or radio, or presented at any seminar
or meeting. Each of the Lender and the officers were also afforded the
opportunity to ask questions of management and to receive answers concerning the
terms and conditions of the transaction. The securities were issued without
registration under the Securities Act of 1933, as amended, by reason of the
exemption from registration afforded by the provisions of Section 4(a)(2)
thereof, and Rule 506(b) promulgated thereunder, as a transaction by an issuer
not involving any public offering. No selling commissions were paid in
connection with the issuances of the Extension Shares or the Vested Shares.
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TRIBAL RIDES INTERNATIONAL CORP. 
