Company: SNBH
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001731122-25-000581
Chunk: 888

Company: SENTIENT BRANDS HOLDINGS INC.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 12
Chunk 888
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. On November 29, 2021, the Company repaid principal totaling
$27,500, reducing the Note balance to $22,500. Accrued interest for this note as of December 31, 2024 and 2023 were $7,562 and $5,312
respectively. 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.

On December 3, 2020, we 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 is exercisable for a period of five years at an exercise price of $0.01. This debenture is 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. Accrued interest for this note as of September 30, 2024 and December 31, 2023 were $18,054 and $15,554,
respectively. 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 into 3,272,031 shares of the Company’s
Common Stock. While the transaction is approved, the Common Stock has not yet been issued. The Company has recorded the transaction as
“Common Stock to be issued” in the Equity Section of the accompanying Balance Sheet. The common shares were issued subsequent
to the year end on February 20,2025. See Note 9.

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 $