SEC Filing Document

Company: Ambitious Entertainment, Inc.
Ticker: 
CIK: 1900851
Filing Type: S-1
Document Type: EX-10.1
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/ex10-1.htm

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Exhibit

PROMISSORY

NOTE (this “Note”)

Date:
December 31st, 2022

Borrower:	AMBITIOUS
ENTERTAINMENT INC. of VANCOUVER, BC (the “Borrower”)

Lender:	ROOTS
PROPERTIES INC of, VANCOUVER, BC, (the “Lender”)

Principal
Amount:	$211,489.87
USD

1.	FOR
VALUE RECEIVED, The Borrower promises to pay to the Lender at such address as may be provided
in writing to the Borrower, the principal sum of $211,489.87USD ,
with interest payable on the unpaid principal at the rate of 10.00 percent per annum, calculated
yearly not in advance, beginning on January 1 st ,2023.

2.	This
Note will be repaid as following: when
the company gets does a financing with 25% of any financing going towards loan repayment
until it is all paid, or December 31 st , 2025, in full.

3.	All
costs, expenses and expenditures including, and without limitation, the complete legal costs
incurred by the Lender in enforcing this Note as a result of any default by the Borrower,
will be added to the principal then outstanding and will immediately be paid by the Borrower.
In the case of the Borrower’s default and the acceleration of the amount due by the
Lender all amounts outstanding under this Note will bear interest at the rate of 10.00 percent
per annum from the date of demand until paid.

any term, covenant, condition or provision of this Note is held by a court of competent jurisdiction
to be invalid, void or unenforceable, it is the parties’ intent that such provision
be reduced in scope by the court only to the extent deemed necessary by that court to render
the provision reasonable and enforceable and the remainder of the provisions of this Note
will in no way be affected, impaired or invalidated as a result.

5.	This
Note will be construed in accordance with and governed by the laws of British Columbia.

Promissory
Note

6.	This Note will enure to
the benefit of and be binding upon the respective heirs, executors, administrators, successors and assigns of the Borrower and the
Lender. The Borrower waives presentment for payment, notice of non-payment, protest and notice of protest.

Ambitious
Entertainment Inc.

By:	/s/ Kirk Shaw

Name:	Kirk Shaw

Its:	President

Roots
Properties Inc.

Kirk Shaw

Name:	Kirk Shaw

Its:	President