Company: SNBH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001731122-25-000760
Chunk: 15

Company: SENTIENT BRANDS HOLDINGS INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 investor. The note matures on the earlier of (i) the closing of the Company’s next equity financing, or (ii) six
months after the date of issue. At the note holder’s sole election on the maturity date, the note holder may convert the interest
accrued on the note into shares of common stock of the Company at $0.05 per share. Accrued interest on this note totaled $1,357 at
December 31, 2024. During the first quarter of 2025, the lender converted 100% of the debt and all of the accrued interest into 247,250
shares of the Company’s common stock. While the transaction was approved, the Common Stock had not yet been issued at March 31,
2025. The Company recorded the transaction as “Common Stock to be issued” in the Equity Section of the accompanying Balance
Sheet. The common shares were issued April 3, 2025. See Note 8.

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NOTE 6. STOCKHOLDERS’ (DEFICIT)

Preferred stock

The Company is authorized to issue 25,000,000 shares
of Preferred Stock, par value $.001 per share. During the first quarter of 2020, the Company issued 1,000,000 shares of its newly designated
Series B Preferred Stock to one investor.

For five years from the date of issuance, the Series
B Preferred Stock shall have the number of votes equal to fifty-one percent (51%) of the cumulative total vote of all classes of stock
of the Corporation, common or preferred, whether such other class of stock is voting as a single class or the other classes of stock are
voting together as a single group, and with respect to such vote, such holder shall have full voting rights and powers equal to the voting
rights and powers of the holders of Common Stock, or any other class of preferred stock, and shall be entitled to notice of any stockholders’
meeting in accordance with the bylaws of the Corporation, and shall be entitled to vote, together with holders of Common Stock and any
class of preferred stock entitled to vote, with respect to any question upon which holders of Common Stock or any class of preferred stock
have the right to vote. After five years, the Series B Preferred Stock shall automatically, and without further action by the Corporation,
be cancelled and void, and may not be reissued.

As of March 31, 2025 and December 31,