Company: RGBP
Filing Date: 2025-05-16
Form Type: 10-Q
Source: 0001641172-25-011206
Chunk: 11

Company: Regen BioPharma Inc
Filing Date: 2025-05-16
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 of $ 100,000 for consideration consisting of $ 100,000 cash. The Note pays simple interest                                                                          
           in the amount of 10% per annum. The maturity of the Note is December 20, 2020. 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 75% discount to the closing price of the common                                                                           
           stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $ 37.50 per common share as of the date which is the earlier of:...  
           outstanding.                                                                                                                                                                                          
  v.       On October 31, 2016 (“ Issue date”) the Company issued a Convertible                                                                                                                                  
           Note (“ Note”) in the face amount of $ 50,000 for consideration consisting of $ 50,000 cash. The Note pays simple interest in                                                                         
           the amount of 10% per annum. The maturity of the Note is two years from the issue date. As of September 30, 2024 $ 50,000 of the principal                                                            
           amount of the Note remains outstanding.                                                                                                                                                               
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  vi.      Effective September 4, 2024 the Company entered into a securities purchase                                                                                                                            

The Note carries “ Guaranteed Interest”
on the principal amount at the rate of10% per annum for the ten10month term of the Note for an aggregate Guaranteed Interest $25,000.
The Principal Amount and the Guaranteed Interest shall be due and payable in ten equal monthly payments $27,500commencing 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”)                                                                        

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