Company: SNBH
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001731122-25-000581
Chunk: 32

Company: SENTIENT BRANDS HOLDINGS INC.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 1
Chunk 32
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 31, 2024 and 2023.

Operating Expenses

For the years ended December
31, 2024 and 2023:

    2024 
    2023

    Advertising and Marketing 
    $—  
     1,057 
  
    General and Administrative 
     79,790  
     109,533 
  
    Legal and Professional 
     487,196  
     139,017 
  
    Office rent 
     1,352  
     1,352 
  
    Write down inventory to net realizable value 
     150,000  
     — 
  
    Management Fees 
     163,310  
     — 

    TOTAL OPERATING EXPENSES 
    $881,648  
    $250,959 

    ●
    Our advertising and marketing expense mainly includes our costs of branding, design and materials. We have eliminated our marketing activity as we pursue a merger or acquisition

    ●
    Professional fees primarily consisted of the following:

    For the year ended December 31,

    2024 
    2023
  
    Accounting and Auditing 
    $95,700  
    $62,200 
  
    Other advisory Services 
     29,373  
     16,817 
  
    Legal Fees 
     361,223  
     60,000 
  
    Social Media Consulting 
     900  
     — 

    $487,196  
    $139,017 

    ●
    Professional fees as a whole increased by $348,179 primarily due to the
increased legal and accounting fees related to potential merger activity.

    ●
    Management fees primarily consisted of compensation of our Chief Operating officer and a consultant. The fees increased during 2024 as the Company pursued a merger opportunity. No management fees were taken during 2023.

    ●
    Our general and administrative costs decreased by $29,743, as the Company’s cash restrictions, austerity measures were implemented to reduce expenses until such time as the cash flow improves. 

Income (Loss) from
Operations

As a result of the foregoing, for the year ended December
31, 2024, loss from operations amounted to $881,648, as compared to loss from operations of $250,859 for the year ended December 31, 2023.

24

Other Income (Expense)

Other income (expense)