Company: RGBP
Filing Date: 2025-12-05
Form Type: 253G1
Source: 0001493152-25-026350
Chunk: 149

Company: Regen BioPharma Inc
Filing Date: 2025-12-05
Form: 253G1
Chunk 149
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50,000 of the principal amount of the Note remains outstanding.          |

<div align='center'>113</div>

11. DERIVATIVE LIABILITY

Derivative Liability consisted of the following:

|                                 |     | As of September 30, |      2024 |     |   |      2023 |
|:--------------------------------|:----|:--------------------|----------:|:----|:--|----------:|
| Lender 1                        |     | $                   |   802,337 |     | $ |   800,000 |
| Lender 4                        |     | $                   |   200,584 |     | $ |   200,000 |
| Lender 5                        |     | $                   |   401,168 |     | $ |   400,000 |
| Total convertible notes payable |     | $                   | 1,404,090 |     | $ | 1,400,000 |

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $1,404,090 was recognized by the Company as of September 30, 2024.

The Company analyzes the conversion feature of Convertible Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change. The Company values the embedded derivative using the Black-Scholes pricing model.