Driveitaway Holdings, Inc.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

During June 2022, the Company sold a total of $250,000 worth of Units to U.S. Escrow Services Corporation and Kevin Leach, two accredited investors, which resulted in the issuance of two secured promissory notes with an aggregate principal amount of $250,000 for cash proceeds of $230,000 (net of an original issuance discount of $20,000), and the issuance of 125,000 warrants. These two convertible notes payable matured on June 30, 2024 and have not been repaid.

During November 2022, the Company sold a total of $200,000 worth of Units to Cestone Family Foundation and Michele and Agnese Cestone Foundation, two accredited investors, which resulted in the issuance of two secured promissory notes with an aggregate principal amount of $200,000 for cash proceeds of $180,000 (net of an original issuance discount of $20,000), and the issuance of 100,000 warrants. These convertible notes payable matured on November 15, 2024 and have not been repaid.

On March 1, 2023, the Company entered into a promissory note agreement with an investor for the amount of $12,500 with interest bearing at 15% per annum, maturity date of 120 days from issuance and issuance of 25,000 warrants with exercise price of $0.05 that expire on March 1, 2028 (5 year). The promissory note matured on June 30, 2023 and has not been repaid.

On March 1, 2023, the Company entered into a promissory note agreement with an investor for the amount of $7,500 with interest bearing at 15% per annum, maturity date of 120 days from issuance and issuance of 15,000 warrants with exercise price of $0.05 that expire on March 1, 2028 (5 year). The promissory note matured on June 30, 2023 and has not been repaid.