Company: SNBH
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001731122-25-000581
Chunk: 153

Company: SENTIENT BRANDS HOLDINGS INC.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 1A
Chunk 153
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403 shares of the Company’s Common Stock. On February 11, 2025, the Company issued 1,700,000 in full settlement
of all amounts due Mr. Mansour.

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.

NOTE 9. SUBSEQUENT EVENTS

The Company has evaluated subsequent events for recognition
and disclosure through April 15, 2023, which is the date the financial statements were available to be issued.

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 those credits for shares of common stock
of SNBH (the “Acquisition Credits”). These Acquisition Credits will be issued by SNBH to AIG shareholders and/or their designees
in accordance with an Earnout Schedule that was set forth in the Exchange Agreement, as filed with the SEC on April 11, 2025, as an exhibit
(10.16) to the Form 8K/A5. Prior to the Closing, certain parties to the Exchange Agreement and large shareholders of the Company (collectively,
the “Lockup Parties”) entered into  lock-up leak-out agreements, which govern the manner in which such Lockup Parties may
sell, transfer or dispose of their shares of common stock during the 21-month period following the Closing.

Changes to Management

Concurrently with the Closing of the Exchange Agreement, Dante Jones resigned
as an executive officer and director of the Company; George Furlan was appointed as chief executive officer, president and chief financial
officer of the Company