Company: SNBH
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001731122-25-001574
Chunk: 21

Company: SENTIENT BRANDS HOLDINGS INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 were issued February 20, 2025. See Note 6.

    13

On
April 27, 2021 (the “Issuance Date”), the Company entered into a Securities Purchase Agreement with an accredited investor
(the “April 2021 Investor”) providing for the sale by the Company to the April 2021 Investor of a 10% Senior Secured
Convertible Promissory Note in the principal amount of $315,789 (the “April 2021 Note”, and the “Financing”).
The principal amount of the April 2021 Note includes an Original Issue Discount of $15,789, resulting in $300,000 in total proceeds
received by the Company in the Financing. The April 2021 Note is convertible at the option of the April 2021 Investor into shares of
common stock of the Company at $0.40 per share. In addition to the April 2021 Note, the April 2021 Investor also received 250,000 shares
of common stock of the Company (the “Commitment Shares”), and a common share purchase warrant (the “April 2021 Warrant”,
and together with the April 2021 Note and the Commitment Shares, the “Securities”) to acquire 500,000 shares of
common stock of the Company. The April 2021 Warrant is exercisable for five years at an exercise price of $0.60. The lender agreed to
not exercise any of the warrant and conversion feature from their inception through August 15, 2025. The lender has retained its right
to exercise the warrants and conversion feature from August 16, 2025 through their expiration. The Original Issue discount was being
amortized over the term of the loan of 18 months and was fully amortized during the year ended December 31, 2022. Accrued interest for
this note as of September 30, 2025 was $193,884 including default interest of $146,894. Accrued interest for this note as of December
31, 2024 was $141,779 including default interest of $94,789.

On
November 18, 2021 (the “Issuance Date”), the Company entered into a Securities Purchase Agreement with an accredited investor
(the “November 2021 Investor”) providing for the sale by the Company to the November 2021 Investor of a 10% Senior Secured
Convertible