Company: SNBH
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001731122-25-001574
Chunk: 72

Company: SENTIENT BRANDS HOLDINGS INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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667 shares of its common stock to an investor for $20,000 received during May 2024.

On
December 17, 2024, the Company issued 300,000 shares of its common stock to a vendor in settlement of a trade payable of $9,000.

There
were no other issuances of common stock during the year ended December 31, 2024.

NOTE
8. COMMITMENTS AND CONTINGENCIES

On
December 26, 2019, the Company entered into an Employment Agreement (the
“Furlan Agreement”) with George Furlan pursuant to which Mr. Furlan was appointed as the Company’s Chief Executive Officer.
The Furlan Agreement provides for a base salary of $60,000 per year with such base salary being increased to $120,000 per year beginning
on the one (1) year anniversary of the completion of a financing by the Company of no less than $3,000,000. The Furlan Agreement also
contains an annual bonus based on the amount of revenue generated by the Company from the sale of certain products. The Furlan Agreement
has a term of three years from the effective date. Pursuant to the Furlan Agreement, the Company and Mr. Furlan also entered into a into
a Restricted Stock Agreement to purchase 718,403 shares of the Company’s Common Stock. At this time, there is no written Employment
Agreement in effect with Mr. Furlan.

    17

On
January 8, 2020, the Company entered into an Executive Consulting Agreement (the “Mansour Agreement”) with James Mansour
pursuant to which Mr. Mansour was appointed as an Executive Consultant. The Mansour Agreement provides for a base salary of $60,000 per
year. The Mansour Agreement had a term of three years from the effective date. Pursuant to the Mansour Agreement, the Company and Mr.
Mansour also entered into a Restricted Stock Agreement to purchase 718,403 shares of the Company’s Common Stock. At December 31,
2024, the Company maintained an amount due Mr. Mansour totaling $85,000 included in accounts payable. On February 11, 2025, the Company
issued 1,700,000 in full settlement of all amounts due Mr. Mansour. See Note 7.

As
per terms of the share exchange agreement with AIG F&B, Inc. all legacy contracts