Company: RGBP
Filing Date: 2025-12-05
Form Type: 253G1
Source: 0001493152-25-026350
Chunk: 121

Company: Regen BioPharma Inc
Filing Date: 2025-12-05
Form: 253G1
Chunk 121
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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.          |
| vi. | Effective                                                                                                                            
 September 4, 2024 the Company entered into a securities purchase agreement (the “Purchase Agreement”) with Coventry Enterprises,     
 LLC (“Coventry”), pursuant to which Coventry Enterprises purchased a 10% unsecured promissory Note (the “Note”)                      
 from the Company in the principal amount of $250,000 for consideration of $200,000.                                                  |

The Note carries “Guaranteed Interest” on the principal amount at the rate of 10% per annum for the ten month 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 $27,500 commencing 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 December 31,2024 $28,500 of the principal balance of the Note remained outstanding.       |

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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