Company: SNBH
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001731122-25-001154
Chunk: 54

Company: SENTIENT BRANDS HOLDINGS INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 54
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 Warrant”, and together with the April
2021 Note and the Commitment Shares, the “Securities”) to acquire 500,000 shares of common stock of the Company.
The April 2021 Warrant is exercisable for five years at an exercise price of $0.60. The lender agreed to not exercise any of the warrant
and conversion feature from their inception through August 15, 2025. The lender has retained its right to exercise the warrants and conversion
feature from August 16, 2025 through their expiration. The Original Issue discount was being amortized over the term of the loan of 18
months and was fully amortized during the year ended December 31, 2022. Accrued interest for this note as of June 30, 2025 was $176,516
including default interest of $113,737. Accrued interest for this note as of December 31, 2024 was $141,779 including default interest
of $94,789.

On November 18, 2021 (the “Issuance Date”),
the Company entered into a Securities Purchase Agreement with an accredited investor (the “November 2021 Investor”) providing
for the sale by the Company to the November 2021 Investor of a 10% Senior Secured Convertible Promissory Note in the principal amount
of $400,000 (the “November 2021 Note”, and, the “Financing”), to be paid by the November 2021 Investor to
the Company in two tranches (each, a “Tranche”). The first Tranche consists of a payment by the November 2021 Investor to
the Company on the Issue Date of $200,000, from which the November 2021 Investor retained $5,000 to cover its legal fees. A second
Tranche consisting of $200,000 was paid in December 2021, resulting in $395,000 in total proceeds to be received by the Company in
the Financing. In addition to the November 2021 Note, the November 2021 Investor also received a common share purchase warrant (the “November
2021 Warrant”, and together with the November 2021 Note, the “Securities”) to acquire 666,667 shares of common
stock of the Company. The November 2021 Warrant is exercisable for five years at an exercise price of $0.45. The lender agreed to