Company: SNBH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001731122-25-000760
Chunk: 45

Company: SENTIENT BRANDS HOLDINGS INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 45
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4 totaled $6,999. During December 2023, the
investor exercised all of the warrants for $4,000. During the first quarter of 2025, the lender converted 100% of the debt and all of
the accrued interest into 1,032,465 shares of the Company’s common stock. While the transaction was approved, the Common Stock had
not yet been issued at March 31, 2025. The Company recorded the transaction as “Common Stock to be issued” in the Equity Section
of the accompanying Balance Sheet. The common shares were issued April 3, 2025. See Note 8.

On December 3, 2020, the Company issued a convertible
debenture to an accredited investor in consideration for $50,000 with interest at the rate of 10% per annum from the issue date, and also
issued to the accredited investor a common stock purchase warrant (the “Warrant”) to acquire 400,000 shares of common stock.
The Warrant was exercisable for a period of five years at an exercise price of $0.01. This debenture was convertible at the election of
the holder into shares of common stock at the price per share equal to 120% of the market price of the Company’s listed common stock
on the date of such conversion. During December 2023, the investor exercised all of the warrants for $4,000.

On June 25, 2024, the investor submitted paperwork
that was approved by the Company to convert the entire Note and all of the related accrued interest totaling $68,054 into 3,272,031 shares
of the Company’s Common Stock. While the transaction was approved, the Common Stock had not yet been issued at March 31, 2025. The
Company recorded the transaction as “Common Stock to be issued” in the Equity Section of the accompanying Balance Sheet. The
common shares were issued February 20, 2025. See Note 6.

On April 27, 2021 (the “Issuance Date”),
the Company entered into a Securities Purchase Agreement with an accredited investor (the “April 2021 Investor”) providing
for the sale by the Company to the April 2021 Investor of a 10% Senior Secured Convertible Promissory Note in the principal amount
of $315,789 (the “April 2021 Note”, and the “Financing”). The principal amount of