SEC Filing Document

Company: Ambitious Entertainment, Inc.
Ticker: 
CIK: 1900851
Filing Type: S-1
Document Type: S-1
Date Filed: 2026-05-15
Accession Number: 0001493152-26-023581
Exchange: 
SIC Code: 7812
SIC Description: Services-Motion Picture & Video Tape Production
URL: https://www.sec.gov/Archives/edgar/data/1900851/000149315226023581/forms-1.htm

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Company’s Series A Preferred Stock shall have the right to convert at a ratio of 1 (one) share of the Company’s common stock for 1 (one) share of the Company’s Series A Convertible Preferred Stock (subject to adjustments relating to stock splits, distributions, mergers, consolidation, exchange of shares, recapitalization, reorganization, or other similar event). During the year ended December 31, 2020, the Company issued 205,474 shares of preferred series A stock for cash of $205,474. During the year ended December 31, 2021, the Company issued 31,867 shares of preferred series A stock for cash of $31,867. of December 31, 2025, and 2024, the Company has 237,341 shares of Series A Convertible Preferred Stock issued and outstanding. Preferred Stock Each share of Preferred Stock entitles the holder to one vote, in person or proxy, on any matter on which an action of the stockholders of the Company is sought. Common Stock

Each
share of Common Stock entitles the holder to one vote, in person or proxy, on any matter on which an action of the stockholders of the
Company is sought.

During
the year ended December 31, 2020, the Company issued 3,100,000 shares of commons stock for cash of $31,000. The Company also issued 1,700,000
common shares related to $17,000 of services rendered.

During
the year ended December 31, 2021, the Company issued 700,000 shares to affiliates for $7,000.

During
the year ended December 31, 2022, the Company issued 800,000 shares to an affiliate for $8,000.

During
the year ended December 31, 2023, the Company issued 500,000 shares to an affiliate at a par value of $0.0001 per share.

During
the year ended December 31, 2024, the Company issued 640,000 shares of common stock pursuant to subscription agreements at a par value
of $0.0001 per share.

During
the year ended December 31, 2025, the Company issued 25,000 shares of common stock for cash proceeds of $2,500. In addition, the Company
issued 4,027,500 shares of common stock pursuant to subscription agreements at a par value of $0.0001 per share.

The
aggregate par value of shares issued pursuant to subscription agreements during the years ended December 31, 2024 and 2025 was deemed
immaterial. The Company did not collect such amounts and waived an immaterial subscription receivable due to administrative costs exceeding
the amount due.

of December 31, 2025, and 2024, the Company had 11,492,500 and 7,440,000 shares of common stock issued and outstanding, respectively.

NOTE
13 - RELATED PARTY TRANSACTIONS

Related
Party Notes Payable

of December 31, 2025, and December 31, 2024, the Company had related party notes payable of $1,538,004 and $633,332, respectively. All
related-party notes are unsecured, bear interest at 10% per annum (calculated yearly, not in advance), and are repayable upon the Company
obtaining third-party financing, at which time 25% of such financing proceeds will be applied to the outstanding balances until repaid
in full or until their respective maturity dates.

The
related-party borrowings consist of several notes issued to entities and individuals affiliated with the Company. The Company has an
outstanding note with JC3 Production that was executed on December 31, 2023, with a principal amount of $25,000 and a maturity date of
December 31, 2026; no advances or repayments have occurred since issuance. The Company also has a note with Roots Properties Inc. executed
on December 31, 2022, with a principal balance of $211,490 and a maturity date of December 31, 2025, for which there have been no advances
or repayments. In addition, the Company executed a second note with Roots Properties Inc. on December 31, 2023, providing for borrowings
of up to $300,000 and maturing on December 31, 2026; as of December 31, 2025, the Company has received advances totaling $189,735 and
has made repayments of $24,000 on this note.

The
Company also issued a note to Kirk Shaw, the Co-President and Interim Chief Executive Officer, on December 31, 2023, with a principal
amount of $255,088 and a maturity date of December 31, 2026; one repayment of $30,073 has been made on this obligation. On December 31,
2023, the Company entered into another note with Mr. Shaw permitting borrowings of up to $300,000, which was subsequently replaced by
a new note executed on September 30, 2025, permitting borrowings of up to $900,000 and maturing on December 31, 2026. As of December
31, 2025, advances under this note totaled $1,014,005 and repayments totaled $159,834.

During
the year ended December 31, 2024, the Company received $217,005 in advances from related parties, the Company made repayments of $101,572
and the Company transferred $376,890 of related party obligations as a result of corporate and membership transfer interest agreements
(see Note 14).

During
the year ended December 31, 2025, the Company received $1,035,935 in advances from related parties, the Company made repayments of $131,262.

Capital
Contributions

During
the year ended December 31, 2024, related parties made cash contributions of $2,146,778 to Guns of Redemption, a consolidated subsidiary
of the Company, to support ongoing operations. These contributions were non-interest bearing, had no stated maturity, and created no
repayment obligation. The contributions were recorded directly to the equity accounts of the subsidiary and were intended to be treated
as permanent additions to capital.

a result, these capital contributions are reflected within cash flows from financing activities in the consolidated statement of cash
flows. However, because the contributions were made at the subsidiary level and were subsequently included in the equity of the subsidiary
that was transferred as part of the disposition of ownership interest, they are not presented in the Company’s consolidated statements
of changes in shareholders’ deficit.

NOTE
14 – TRANSFER OF INTEREST

Nature
of the Transactions

During
the year ended December 31, 2025, on January 1, 2025, the Company executed an Instrument of Transfer of Limited Liability Company Interest,
pursuant to which it transferred its 100% ownership interest in FATE USA, LLC (“FATE”) to an unrelated third-party transferee
for total consideration of $10. FATE owned the film rights to FATE.

accordance with the agreement, the transferee assumed all contractual obligations of FATE, and the Company retains no further responsibility
or obligations related to the entity following the transfer.

During
the year ended December 31, 2024, on March 31, 2024, the Company transferred its 100% ownership interests in AMFAD and CD to Press Play
Productions, LLC, a related party, for total consideration of $20. These subsidiaries owned the film rights to All My Friends Are
Dead and Cold Deck, respectively.

Also
on March 31, 2024, the Company transferred its 100% ownership interest in Viper to an unrelated third party for total consideration of
$10. Viper owned the film rights to Viper.

August 14, 2024, the Company transferred 80% of its ownership interest in DMH Production LLC equally to two unrelated third parties for
total consideration of $10. The Company retained a 20% ownership interest, which is now accounted for under the equity method. DMH owned
the film rights to Dead Man’s Hand.

December 1, 2024, the Company transferred 100% of its ownership interest in GOR to an unrelated third party for total consideration of
$10. GOR owned the film rights to Guns of Redemption.

January
1, 2025 – FATE USA, LLC

●	Carrying
amount of assets derecognized: $440,288

●	Carrying
amount of liabilities derecognized: $1,448,437

●	Net
liabilities derecognized: $(1,008,149)

●	Total
consideration received: $10 (non-cash)

●	Gain
on deconsolidation: $1,008,070

●	Portion
of gain from remeasurement of retained interest: N/A – No retained interest

●	Description
of any retained interest and accounting method: None

●	Nature
of consideration: Legal assignment of ownership; no cash received

●	Other
significant arrangements: Transferee assumed all obligations; Company retains no ongoing involvement or commitments

March
31, 2024 – AMFAD, CD, and Viper

●	Carrying
amount of assets derecognized: $6,351,903

●	Carrying
amount of liabilities derecognized: $5,659,783

●	Net
assets derecognized: $692,120

●	Total
consideration received: $30 (non-cash)

●	Loss
on deconsolidation: $(791,140)

●	Portion
of loss from remeasurement of retained interest: N/A – No retained interest

●	Description
of any retained interest and accounting method: None

●	Nature
of consideration: Legal transfer; no cash received

●	Other
significant arrangements:

○	AMFAD
and CD were transferred to Press Play Productions, LLC, a related party.

○	The
president of Press Play Productions is the son of the Company’s CEO.

○	Transferee
assumed all obligations and liabilities; the Company retains no further responsibility.

August
14, 2024 – DMH Production LLC

●	Carrying
amount of assets derecognized: $887,535

●	Carrying
amount of liabilities derecognized: $2,290,423

●	Net
liabilities derecognized: ($1,402,888)

●	Total
consideration received: $10 (non-cash)

●	Gain
on deconsolidation: $1,302,898

●	Retained
interest: 20%

●	Fair
value of retained interest: $0

●	Accounting
treatment of retained interest: No asset was recognized for the 20% retained interest, as
the fair value was determined to be immaterial based on the subsidiary’s negative net
asset position and lack of expected future cash flows.

●	Other
arrangements: None; the Company does not retain any continuing involvement, control, or obligations
related to DMH beyond its minority interest.

December
1, 2024 – GOR