SEC Filing Document

Company: Ambitious Entertainment, Inc.
Ticker: 
CIK: 1900851
Filing Type: DRS/A
Document Type: DRS/A
Date Filed: 2025-10-08
Accession Number: 0001493152-25-017387
Exchange: 
SIC Code: 7812
SIC Description: Services-Motion Picture & Video Tape Production
URL: https://www.sec.gov/Archives/edgar/data/1900851/000149315225017387/filename1.htm

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classes or series of preferred stock having such designations, preferences, limitations and relative rights, including preferences over our common stock respecting dividends and distributions, as our board of directors may determine. The terms of one or more classes or series of preferred stock could adversely impact the voting power or value of our common stock. For example, we might grant holders of preferred stock the right to elect some number of our directors in all events or on the happening of specified events or the right to veto specified transactions. Similarly, the repurchase or redemption rights or liquidation preferences we might assign to holders of preferred stock could affect the residual value of our common stock. securities analysts were to downgrade our stock, publish negative research or reports or fail to publish reports about our business, our competitive position could suffer, and our stock price and trading volume could decline.

The
trading market for our common stock will, to some extent, depend on the research and reports that securities analysts may publish about
us, our business, our market or our competitors. We do not have any control over these analysts. We do not currently have and may never
obtain research coverage by securities analysts. If no or few securities analysts commence coverage of us, the trading price of our stock
would likely decrease. Even if we do obtain analyst coverage, if one or more of the analysts who cover us should downgrade our stock
or publish negative research or reports, cease coverage of our company or fail to regularly publish reports about our business, our competitive
position could suffer, and our stock price and trading volume could decline.

The
requirements of being a public company, including compliance with the reporting requirements of the Exchange Act, and the requirements
of the Sarbanes-Oxley Act, may strain our resources, increase our costs and divert management’s attention, and we may be unable
to comply with these requirements in a timely or cost-effective manner.

a public company, we will need to comply with laws, regulations and requirements, certain corporate governance provisions of the Sarbanes-Oxley
Act, the Securities Exchange Act of 1934, as amended (the “Exchange Act”), related regulations of the SEC and the listing
rules of the NYSE American, with which we are not required to comply as a private company. Complying with these statutes, regulations
and rules will occupy a significant amount of time of our board of directors and management and will significantly increase our costs
and expenses. We will need to:

●	institute
comprehensive compliance functions commensurate with being a public company;

●	comply
with rules promulgated by the NYSE American;

●	continue
to prepare and file periodic and other reports with the SEC and prepare and distribute proxy statements in compliance with our obligations
under the federal securities laws;

●	establish
new internal policies, such as those relating to insider trading; and

●	involve
and retain to a greater degree outside counsel and accountants to support the above activities.

addition, we expect that being a public company subject to these rules and regulations may make it more difficult and more expensive
for us to obtain director and officer liability insurance, and we may be required to accept reduced policy limits and coverage or incur
substantially higher costs to obtain the same or similar coverage. As a result, it may be more difficult for us to attract and retain
qualified individuals to serve on our board of directors or as executive officers. We are currently evaluating these rules, and we cannot
predict or estimate the amount of additional costs we may incur or the timing of such costs.

Our
internal control over financial reporting may not be effective and our independent registered public accounting firm may not be able
to certify as to their effectiveness in the future, which could have a significant and adverse effect on our business, financial condition,
results of operations and reputation.

After
the completion of this offering, we will be subject to a requirement, pursuant to Section 404 of the Sarbanes-Oxley Act, to conduct an
annual review and evaluation of our internal control over financial reporting and furnish a report by management on, among other things,
our assessment of the effectiveness of our internal control over financial reporting each fiscal year beginning with the year following
our first annual report required to be filed with the SEC. However, because we are an emerging growth company, our independent registered
public accounting firm is not required to formally attest to the effectiveness of our internal control over financial reporting pursuant
to Section 404 until the earlier of the fifth year following our first annual report required to be filed with the SEC or the date on
which we are no longer an emerging growth company. Ensuring that we have adequate internal control over financial reporting in place
so that we can produce accurate financial statements on a timely basis is a costly and time-consuming effort that must be evaluated frequently.
Establishing and maintaining these internal controls will be costly and may divert management’s attention from our business.

When
evaluating our internal control over financial reporting, we may identify material weaknesses that we may not be able to remediate in
time to meet the applicable deadline imposed upon us for compliance with the requirements of Section 404 of the Sarbanes-Oxley Act. In
addition, if we fail to achieve and maintain the adequacy of our internal control over financial reporting, as such standards are modified,
supplemented or amended from time to time, we may not be able to ensure that we can conclude, on an ongoing basis, that we have effective
internal control over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act. We cannot be certain as to the timing
of completion of our evaluation, testing and any remediation actions or the impact of the same on our operations. If we do not adequately
implement or comply with the requirements of Section 404 of the Sarbanes-Oxley Act, we may be subject to sanctions or investigation by
regulatory authorities, such as the SEC, or suffer other adverse regulatory consequences, including penalties for violation of the NYSE
American rules. As a result, there could be a negative reaction in the financial markets due to a loss of confidence in the reliability
of our financial statements. A loss of confidence in the reliability of our financial statements also could occur if we or our independent
registered public accounting firm were to report one or more material weaknesses in our internal control over financial reporting. In
addition, we may be required to incur costs in improving our internal control system, including the costs of the hiring of additional
personnel. Any such action could negatively affect our business, financial condition, results of operations and cash flows and could
also lead to a decline in the price of our common stock.

Management
will have broad discretion over the use of our proceeds from this offering.

The
principal purposes of this offering include increasing our capitalization and financial flexibility, creating a public market for our
stock, thereby enabling access to the public equity markets by our employees and stockholders, obtaining additional capital and increasing
our visibility in the marketplace. Although we have not yet determined with certainty how we will allocate the net proceeds of this offering,
we expect to use the net proceeds from this offering for [__] and other general corporate purposes. We may also use a portion of the
proceeds from this offering for [__]. See “Use of Proceeds”. We have not allocated specific amounts of net proceeds
for any of these purposes and we cannot specify with certainty the particular uses of the net proceeds to us from this offering. Accordingly,
we will have broad discretion in using these proceeds and might not be able to obtain a significant return, if any, on investment of
these net proceeds. Investors in this offering will need to rely upon the judgment of our management with respect to the use of our proceeds.
If we do not use the net proceeds that we receive in this offering effectively, our business, operating results and financial condition
could be harmed.

do not anticipate that we will pay dividends on our common stock and, consequently, your ability to achieve a return on your investment
will depend on appreciation in the price of our common stock.

have never declared or paid any dividends on our common stock. We intend to retain any earnings to finance the operation and expansion
of our business, and we do not anticipate paying any cash dividends in the foreseeable future. In addition, in the future we may enter
into agreements that prohibit or restrict our ability to declare or pay dividends on our common stock. As a result, you may only receive
a return on your investment in share of our common stock if the market price of our shares increases.