Company: RGBP
Filing Date: 2025-12-05
Form Type: 253G1
Source: 0001493152-25-026350
Chunk: 77

Company: Regen BioPharma Inc
Filing Date: 2025-12-05
Form: 253G1
Chunk 77
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 the option of the Holder at price per share equivalent to 90% of the lowest per-share trading price for the 20 Trading Days     
 preceding a Conversion Date.                                                                                                             |
| 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 June 30, 2025 $28,500 of the principal balance of the Note remained outstanding.                                            |

11. 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 $1,780,402 was recognized by the Company as of June 30, 2025.

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Derivative liability consisted of the following:

|                             |     |   | June 30, 2025 |     |   | September 30, 2024 |
|:----------------------------|:----|:--|--------------:|:----|:--|-------------------:|
| Lender 1                    |     | $ |       800,000 |     | $ |            802,337 |
| Lender 4                    |     |   |       200,000 |     |   |            200,