Company: SNBH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001731122-25-000760
Chunk: 54

Company: SENTIENT BRANDS HOLDINGS INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 54
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 those credits for shares of common stock of
SNBH (the “Acquisition Credits”). These Acquisition Credits will be issued by SNBH to AIG shareholders and/or their designees
in accordance with an Earnout Schedule that was set forth in the Exchange Agreement, as filed with the SEC on April 11, 2025, as an exhibit
(10.16) to the Form 8K/A5. Prior to the Closing, certain parties to the Exchange Agreement and large shareholders of the Company (collectively,
the “Lockup Parties”) entered into lock-up leak-out agreements, which govern the manner in which such Lockup Parties may sell,
transfer or dispose of their shares of common stock during the 21-month period following the Closing.

Changes to Management

Concurrently with the Closing of the Exchange Agreement, Dante Jones resigned
as an executive officer and director of the Company; George Furlan was appointed as chief executive officer, president and chief financial
officer of the Company, and as a non-independent director of the company. Eric Bruns and Dionne Pendelton were appointed as independent
directors of the Company. The contracting parties agreed to indemnify each other for any losses that may be incurred by them as a result
of their breach of any of their representations, warranties and covenants contained in the Exchange Agreement.

On April 2, 2025, the Company issued 247,250 shares
of its common stock to an individual in exchange for the cancellation of all debt and related accrued interest. See Note 5.

On April 3, 2025, the Company issued 1,032,465 shares
of its common stock to an individual in exchange for the cancellation of all debt and related accrued interest. See Note 5.

On April 15, 2025, the Company issued 300,000 shares
to a consultant for management services.

On April 16, 2025, the Company issued 2,000,000 shares
to a service provider for services provided related to the merger with AIG.

On April 17, 2025, the Company issued 430,000 shares
to a consultant for management services.

On April 28, 2025 the Company sold 600,000 shares
of its common stock to an investor for $30,000. As of the date of this filing, the shares have not yet been issued.

On May 12, 2025, the Company, through its wholly owned
subsidi