Company: SNBH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001731122-25-000760
Chunk: 53

Company: SENTIENT BRANDS HOLDINGS INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 53
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 Company issued 1,700,000 in full settlement of all amounts due Mr. Mansour. See
Note 6.

The Company is currently involved in a wage dispute
with a former contractor dating back to the third quarter of 2020. The contractor claims to be due approximately $184,000 in wages and
other expenses. The Company disputes the claim in its entirety but has maintained an accrual of $54,000 related to the dispute. Neither
party has initiated legal action at this time. Should any legal action occur against the Company, the Company would defend itself vigorously
and would assert claims of misconduct against the former contractor.

In the first quarter of 2024, the Company engaged
a consultant pursuant to which the consultant was to receive as consideration for services in accordance with a payment schedule three
cash payments of $10,000 for a total of $30,000 and three issuances of 1,000,000 shares of the Company’s common stock for a total
of 3,000,000 shares. During the first quarter of 2024, the consultant received two separate cash payments of $10,000 for a total of $20,000
and two separate issuances of 1,000,000 shares of the Company’s common stock. As of March 31, 2025, the consultant had not yet received
the third cash payment and stock issuance. The Company has not recorded any charge for the third payment as of March 31, 2025. Subsequent
to March 31, 2025, the consultant was issued 2,000,000 shares of the Company’s common stock in full settlement of the agreement.

NOTE 8. SUBSEQUENT EVENTS

The Company has evaluated subsequent events for recognition
and disclosure through May 15, 2025, which is the date the financial statements were available to be issued.

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Entry into Material Contracts

On April 10, 2025, the Company, through its wholly-owned subsidiary AIG
F&B, a Nevada corporation (AIGFB) closed the Exchange Agreement (the “Exchange Agreement”) with American Industrial Group,
a Florida corporation (“AIG”), which is owned and controlled by its shareholders, and which owns and controls several assets
and lines of business of interest to the Company, through its subsidiary, pursuant to which AIGFB will acquire many of those assets and
rights of AIG in exchange for acquisition credits, to be ultimately paid by the exchange of