Company: RGBP
Filing Date: 2025-09-08
Form Type: 253G1
Source: 0001641172-25-026822
Chunk: 148

Company: Regen BioPharma Inc
Filing Date: 2025-09-08
Form: 253G1
Chunk 148
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 The Note may be converted into the Common Shares of Regen at a price per share (“Conversion 
 Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common          
 stock of the Company on the trading day immediately prior to the date a conversion notice         
 is given by the Lender to Regen or (b) $37.50 per common share as of the date which is the        
 earlier of: As of September 30, 2024 $100,000 of the principal amount of the Note remains         
 outstanding.                                                                                      |

| v. | On                                                                                           
 October 31, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”)               
 in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays    
 simple interest in the amount of 10% per annum. The maturity of the Note is two years from   
 the issue date. As of September 30, 2024 $50,000 of the principal amount of the Note remains 
 outstanding.                                                                                 |

| 118 |

11. DERIVATIVE LIABILITY

Derivative Liability consisted of the following:

SCHEDULE OF DERIVATIVE LIABILITY

|                                 |     | As of September 30, 
 2024                |      2024 |     | 2023 |      2023 |
|:--------------------------------|:----|:--------------------|----------:|:----|:-----|----------:|
| Lender 1                        |     | $                   |   802,337 |     | $    |   800,000 |
| Lender 4                        |     | $                   |   200,584 |     | $    |   200,000 |
| Lender 5                        |     | $                   |   401,168 |     | $    |   400,000 |
| Total convertible notes payable |     | $                   | 1,404,090 |     | $    | 1,400,000 |

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s