Company: RGBP
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001641172-25-012619
Chunk: 12

Company: Regen BioPharma Inc
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 1
Chunk 12
---
encing                                                                 
            on November 4, 2024, and continuing on the fourth day of each month thereafter (each, a “ Monthly Payment Date”) until                                                                                
            paid in full not later than September 4, 2025.                                                                                                                                                        
  vii.      On                                                                                                                                                                                                    
            October 28, 2024 a promissory note in the amount $ 48,500 (“ Note”) was reclassified as a convertible note payable due                                                                                
            to a negotiated change in the terms and conditions of the Note. The Note may be converted into the Common Shares of Regen at a price                                                                  
            per share (“ Conversion Price”) equivalent to the lower of (a) a 50% discount to the lowest closing bid price of the common                                                                           
            stock of the Company during the ten reading day period immediately prior to the date a conversion notice is given by the Lender to                                                                    
            Regen or (b) $ 0.04 per common share. As of March 31, 2025 $ 28,500 of the principal balance of the Note remained outstanding.                                                                        
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  vi.       Effective                                                                                                                                                                                             

8. DERIVATIVE LIABILITY

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 $ 1,691,143

Derivative
Liability consisted of the following :

SCHEDULE
OF DERIVATIVE LIABILITY

                                 As of      As of                         
                             March 31,      September 30,                 
  Lender 1                    $800,000                           802,337  
  Lender 4