Company: SNBH
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001731122-25-001574
Chunk: 57

Company: SENTIENT BRANDS HOLDINGS INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 57
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 manufacturing infrastructure, distribution relationships, and brand rights relevant to the Company’s future
roadmap.

As
noted above, on May 12, 2025, the Company, through its wholly owned subsidiary AIG F&B, acquired Assets totaling $595,440 from American
Industrial Group, Inc. (“AIG”). The Company acquired machinery and equipment of $77,044, Inventory for sale of $283,452 and
accounts receivable and other assets of $234,944.

The
transaction has been accounted for as an asset acquisition pursuant to ASC 805-50, Business Combinations – Related Issues,
as the acquired set of assets and activities did not meet the definition of a business. As such, the total consideration transferred,
including direct transaction costs, has been allocated to the individual identifiable assets acquired and liabilities assumed on a relative
fair value basis as of the acquisition date.

In
accordance with the guidance applicable to asset acquisitions:

    ●
    Transaction
    costs directly attributable to the acquisition have been capitalized as part of the cost of the acquired assets.

    ●
    No goodwill has been recognized,
    as the transaction did not qualify as a business combination under ASC 805-10.

    ●
    The asset values presented
    reflect the relative fair value allocation of the total purchase price among the identifiable assets acquired.

    ●
    The financial statements
    do not include the results of operations or cash flows of the acquired assets prior to the acquisition date.

The
transaction has been accounted for as an asset acquisition pursuant to ASC 805-50, Business Combinations – Related Issues,
as the acquired set of assets and activities did not meet the definition of a business. As such, the total consideration transferred,
including direct transaction costs, has been allocated to the individual identifiable assets acquired and liabilities assumed on a relative
fair value basis as of the acquisition date.

In
accordance with the guidance applicable to asset acquisitions:

    ●
    Transaction
    costs directly attributable to the acquisition have been capitalized as part of the cost of the acquired assets.

    ●
    No goodwill has been recognized,
    as the transaction did not qualify as a business combination under ASC 805-10.

    9

    ●
    The
    asset values presented reflect the relative fair value allocation of the total purchase price among the identifiable assets acquired.

    ●
    The
    financial statements do not include the results of operations or cash flows of the acquired assets prior to the acquisition date.