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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$49,000. During the three months ended March 31, 2025, Roots Properties advanced the Company an additional $159,500, and the Company made repayments of $18,001. As of June 30, 2025, and December 31, 2024, the principal balance related to this Roots promissory note was $161,734 and $20,235, respectively. December 2023, the Company issued a promissory note to JC3 Productions (“JC3 Note”), where Kirk Shaw, our Co-President and Interim Chief Executive Officer, serves as President. The JC3 Note has the following principal balance of $25,000. The JC3 Note will be repaid when the Company gets financing, with 25% of any financing going towards loan repayment until it is fully paid, or (ii) by December 31, 2026. The JC3 Note will bear interest at the rate of 10% per annum. As of June 30, 2025, and December 31, 2024, the principal balance related to the JC3 promissory note was $25,000 and $25,000, respectively.

December 2023, the Company issued a promissory note to Kirk Shaw (the “First Shaw Note”), our Co-President and Interim Chief
Executive Officer. From time-to-time Mr. Shaw will loan funds to the Company to cover operating expenses and production costs. The First
Shaw Note has a principal balance of up to $300,000. The First Shaw Note will be repaid when the Company gets financing, with 25% of
any financing going towards loan repayment until it is fully paid, or (ii) December 31, 2026. The First Shaw Note will bear interest
at the rate of 10% per annum. During the year ended December 31, 2023, Mr. Shaw advanced the Company $56,594. During the year ended December
31, 2024, Mr. Shaw advanced the Company $147,570, and the Company made repayments of $52,572. During the six months ended June 30, 2025,
Mr. Shaw advanced the Company an additional $193,468, and the Company made repayments of $97,395. As of June 30, 2025, and December 31,
2024, the principal balance related to the First Shaw Note was $247,665 and $151,592, respectively.

December 2023, the Company issued a promissory note to Kirk Shaw (the “Second Shaw Note”). The Second Shaw Note has a principal
balance of $255,088. The Second Shaw Note will be repaid when the Company gets financing, with 25% of any financing going towards loan
repayment until it is fully paid, or (ii) by December 31, 2026. The Second Shaw Note will bear interest at the rate of 10% per annum.
During the year ended December 31, 2023, the Company made repayments of $30,073. As of June 30, 2025, and December 31, 2024, the principal
balance related to the Second Shaw Note was $225,015 and $225,015, respectively.

Transfers
of Subsidiary Interests

During
the three months ended March 31, 2024, the Company transferred its 100% ownership interests in AMFAD and CD, each a wholly owned subsidiary,
to Press Play Productions, LLC (“Press Play”), for total consideration of $20. At the time of the transfer, AMFAD and CD
collectively owned the film rights to All My Friends Are Dead and Cold Deck. Press Play is solely owned and controlled by Christos Shaw,
the son of Kirk Shaw.

Related
Parties

The related parties to the above transactions are:

●	Kirk
Shaw , Co-President and Interim Chief Executive Officer of Ambitious Entertainment.

●	Press
Play Productions, LLC , a limited liability company solely owned and controlled by Christos
Shaw, the son of Kirk Shaw.

PRINCIPAL
STOCKHOLDERS

Security
Ownership of Management and Certain Beneficial Owners

The
following table sets forth the beneficial ownership of our common stock as of __________, 2025 by:

●	each
stockholder known by us to beneficially own more than 5% of our outstanding common stock;

●	each
of our directors;

●	each
of our named executive officers; and

●	all
of our directors and executive officers as a group.

have determined beneficial ownership in accordance with the rules of the SEC. These rules generally provide that a person is the beneficial
owner of securities if such person has or shares the power to vote or direct the voting of securities, or to dispose or direct the disposition
of securities. A security holder is also deemed to be, as of any date, the beneficial owner of all securities that such security holder
has the right to acquire within 60 days after such date through (i) the exercise of any option or warrant, (ii) the conversion of a security,
(iii) the power to revoke a trust, discretionary account or similar arrangement or (iv) the automatic termination of a trust, discretionary
account or similar arrangement. Except as disclosed in the footnotes to this table and subject to applicable community property laws,
we believe that each person identified in the table has sole voting and investment power over all of the shares shown opposite such person’s
name.

The
percentage of beneficial ownership is based on [●] shares of our common stock outstanding as of ________, 2025.

Number

Name
of Beneficial Owner Shares Percentage

Executive
Officers and Directors

Kirk
E. Shaw

All
directors and executive officers as a group %

Greater
than 5% Shareholders %

Less than 1%

DESCRIPTION
OF CAPITAL STOCK

The
following is a description of our capital stock and the material provisions of our articles of incorporation, bylaws, and other agreements
to which we and our stockholders are parties, in each case upon the closing of this offering.

General

The
following description of our capital stock and provisions of our articles of incorporation and bylaws, each as amended and restated,
are summaries and are qualified by reference to our articles of incorporation and bylaws, each as amended and restated, themselves. By
becoming a stockholder in our Company, you will be deemed to have notice of and consented to these provisions of our articles of incorporation
and bylaws, each as amended and restated.

have two authorized classes of stock: (i) preferred stock, par value $0.0001 per share, with 1,000,000 shares authorized, and (ii) common
stock, par value $0.001 per share, with 150,000,000 shares authorized.

Authorized
Capital Stock

are currently authorized to issue up to 151,000,000 shares of capital stock consisting of: 150,000,000 shares of common stock, par value
$0.001 per share and 1,000,000 shares of preferred stock, par value of $0.0001 per share. As of ___________, 2025, [●] shares of
common stock were issued and outstanding and there were no shares of preferred stock outstanding.

Common
Stock

Holders
of our common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders and do not have cumulative
voting rights. An election of directors by our stockholders shall be determined by a plurality of the votes cast by the stockholders
entitled to vote in the election. Holders of common stock are entitled to receive proportionately any dividends as may be declared by
our board of directors, subject to any preferential dividend rights of outstanding preferred stock. Our Board of Directors is not obligated
to declare a dividend. It is not anticipated that dividends will be paid in the foreseeable future.

the event of our liquidation or dissolution, the holders of common stock are entitled to receive proportionately all assets available
for distribution to stockholders after the payment of all debts and other liabilities and subject to the prior rights of any outstanding
preferred stock. Holders of common stock have no preemptive, subscription, redemption, or conversion rights. The rights, preferences,
and privileges of holders of common stock are subject to and may be adversely affected by the rights of the holders of shares of any
series of preferred stock that we may designate and issue in the future.

Holders
of our common stock do not have preemptive rights to subscribe to additional shares if issued. There are no conversion, redemption, sinking
fund, or similar provisions regarding the common stock. All outstanding shares of common stock are fully paid and non-assessable.

Preferred
Stock

Under
the terms of our articles of incorporation, as amended and restated, our board of directors is authorized to issue shares of preferred
stock in one or more classes or series without stockholder approval. Our board of directors has the discretion to determine the rights,
preferences, privileges, and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges, and liquidation
preferences, of each series of preferred stock.

The
purpose of authorizing our board of directors to issue preferred stock and to determine such preferred stock’s rights and preferences
is to eliminate delays associated with a stockholder vote on specific issuances. The issuance of preferred stock, while providing flexibility
in connection with possible acquisitions, future financings, and other corporate purposes, could have the effect of making it more difficult
for a third party to acquire, or could discourage a third party from seeking to acquire, a majority of our outstanding voting stock.
Presently, our board of directors has not authorized the creation or issuance of any shares or series of preferred stock, and there will
be no shares of preferred stock issued or outstanding upon the closing of this offering.

Authorized
but Unissued Shares of Common Stock and Preferred Stock