Company: SNBH
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001731122-25-001574
Chunk: 65

Company: SENTIENT BRANDS HOLDINGS INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 65
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 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 September 30, 2025 was $193,884 including default interest of $146,894. 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 not exercise any of the warrant and conversion feature from their inception through April
15, 2025. The lender has retained its right to exercise the warrants and conversion feature from April