SEC Filing Document

Company: Ambitious Entertainment, Inc.
Ticker: 
CIK: 1900851
Filing Type: DRS
Document Type: DRS
Date Filed: 2025-07-17
Accession Number: 0001493152-25-011282
Exchange: 
SIC Code: 7812
SIC Description: Services-Motion Picture & Video Tape Production
URL: https://www.sec.gov/Archives/edgar/data/1900851/000149315225011282/filename1.htm

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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.

Anti-takeover
effects of certain provisions of Nevada state law may hinder a potential takeover of us.

Though
we are not currently subject to Nevada’s control share law, in the future, we may become subject to it. A corporation is subject
to Nevada’s control share law if it has more than 200 stockholders, at least 100 of whom are stockholders of record and residents
of Nevada, and it does business in Nevada or through an affiliated corporation. The law focuses on the acquisition of a “controlling
interest”, which means the ownership of outstanding voting shares sufficient, but for the control share law, to enable the acquiring
person to exercise the following proportions of the voting power of the corporation in the election of directors: (i) one-fifth or more
but less than one-third; (ii) one-third or more but less than a majority; or (iii) a majority or more. The ability to exercise such voting
power may be direct or indirect, as well as individual or in association with others.

The
effect of the control share law is that the acquiring person, and those acting in association with it, obtains only such voting rights
in the control shares as are conferred by a resolution of the stockholders of the corporation, approved at a special or annual meeting
of stockholders. The control share law contemplates that voting rights will be considered only once by the other stockholders. Thus,
there is no authority to strip voting rights from the control shares of an acquiring person once those rights have been approved. If
the stockholders do not grant voting rights to the control shares acquired by an acquiring person, those shares do not become permanent
non-voting shares. The acquiring person is free to sell its shares to others. If the buyers of those shares themselves do not acquire
a controlling interest, their shares do not become governed by the control share law.

control shares are accorded full voting rights and the acquiring person has acquired control shares with a majority or more of the voting
power, any stockholder of record, other than an acquiring person, who has not voted in favor of approval of voting rights is entitled
to demand fair value for the redemption of such stockholder’s shares.

addition to the control share law, Nevada has a business combination law, which prohibits certain business combinations between Nevada
corporations and “interested stockholders” for two years after the “interested stockholder” first becomes an
“interested stockholder”, unless the corporation’s board of directors approves the combination in advance or thereafter
by both the board of directors and 60% of the disinterested stockholders. For purposes of Nevada law, an “interested stockholder”
is any person who is (i) the beneficial owner, directly or indirectly, of 10% or more of the voting power of the outstanding voting shares
of the corporation, or (ii) an affiliate or associate of the corporation and at any time within the two previous years was the beneficial
owner, directly or indirectly, of 10% or more of the voting power of the then outstanding shares of the corporation. The definition of
the term “business combination” is sufficiently broad to cover virtually any kind of transaction that would allow a potential
acquiror to use the corporation’s assets to finance the acquisition or otherwise to benefit its own interests rather than the interests
of the corporation and its other stockholders. The effect of Nevada’s business combination law is to potentially discourage parties
interested in taking control of us from doing so if it cannot obtain the approval of our board of directors.

May 2025, Nevada adopted amendments to its corporate law that may further complicate unsolicited takeover attempts. These amendments
define a “controlling stockholder” as a person or group having voting power sufficient to elect a majority of the corporation’s
directors and impose a limited fiduciary duty on such stockholders not to exert undue influence over directors or officers that would
cause a breach of fiduciary duty and confer a material, non-ratable benefit to the controller. The amendments also provide a statutory
safe harbour whereby such conflict transactions are presumed valid if approved or recommended by a committee of disinterested directors.
This presumption may only be rebutted under limited circumstances. These statutory protections may enhance the influence of our board
of directors and significant stockholders and may deter potential acquirors who are unwilling or unable to comply with the procedural
requirements under Nevada law.

Our
officers, directors and principal stockholders currently own a substantial number of shares of our common stock and have, and following
the offering will continue to have, the power to significantly influence the vote on all matters submitted to a vote of our stockholders.

of ____, 2025, our Co-President and Interim Chief Executive Officer, Mr. Kirk Shaw, beneficially owned [●] shares of our
common stock, representing [●]% of our issued and outstanding shares of our common stock. Upon completion of this offering, Mr.
Shaw will hold approximately [●]% (or [●]% if the underwriters’ overallotment option is exercised in full) of our issued
and outstanding common stock. As such, after the offering and listing of our shares of common stock on the NYSE American, we will
be a “controlled company” within the meaning of the NYSE American listing rules. This concentration of voting power and control
could have a significant effect in delaying, deferring or preventing an action that might otherwise be beneficial to our other stockholders
and be disadvantageous to our stockholders with interests different from those individuals. Therefore, you should not invest in reliance
on your ability to have any control over our company.

For
as long as we are an emerging growth company, we will not be required to comply with certain requirements that apply to other public
companies.