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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V6B 1A5, Canada. Does not include (a) 677,776 shares of common stock held by the reporting person’s adult daughter, Sophia B. Shaw, consisting of (i) 300,000 shares of common stock, (ii) 188,888 shares of common stock issuable upon the conversion of Series A preferred stock, (iii) 178,888 shares of common stock issuable upon the exercise of Bridge Financing Warrants, (iv) 10,000 shares of common stock issuable upon the exercise of Bridge Financing warrants, and (b) 326,000 shares of common stock held by the reporting person’s adult son, Lukas B. Shaw, consisting of (i) 300,000 shares of common stock, (ii) 13,000 shares of common stock issuable upon the conversion of Series A preferred stock, (iii) 3,000 shares of common stock issuable upon the exercise of Bridge Financing Warrants, (iv) 10,000 shares of common stock issuable upon the exercise of Bridge Financing warrants. The reporting person disclaims beneficial ownership of such shares.

Consists of (a) 350,000 shares of common stock, (b) 7,143 shares of common stock issuable upon the exercise of Series B warrants, (c)
7,143 shares of common stock issuable upon the exercise of Series C warrants, and (d) 7,857 shares of common stock issuable upon the
conversion of debt, in each case held by May Davis Partners. Owen May has voting or investment control over the shares held by May Davis
Partners. The address of May Davis Partners is 2 Park Avenue, 20th Floor, New York, NY 10016.

Robert Simpson has voting or investment control over the shares held by OGGI Equity Srl. The business address of OGGI Equity Srl. is
Via Dell’ Annunciata, 23/4, 20121 Milano, Italy.

Does not include (a) 42,857 shares of common stock issuable upon the exercise of Series B warrants or 42,857 shares of common stock issuable
upon the exercise of Series C warrants (none of which are exercisable within 60 days of the date of this prospectus) and (b) 47,143 shares
of common stock issuable upon the conversion of debt (none of which are convertible within 60 days of the date of this prospectus). Larry
St. Pierre disclaims beneficial ownership of a total of 1,905,000 shares of common stock owned by his wife and his adult children. The
address of Larry St. Pierre is 6 Antares, Unit 12, Ottawa, Ontario K2E 8A9, Canada.

Consists of (a) 300,000 shares of common stock, (b) 13,000 shares of common stock issuable upon the conversion of Series A preferred
stock, (c) 425,000 shares of common stock issuable upon the exercise of Series A warrants, (d) 10,000 shares of common stock issuable
upon the exercise of the Bridge Financing warrants, (e) 3,000 shares of common stock issuable upon the exercise of Series A warrants,
(f) 750,000 shares of common stock held by CSL Properties, Inc., (g) 52,453 shares of common stock issuable upon the conversion of Series
A preferred stock, and (h) 52,453 shares of common stock issuable upon the exercise of Bridge Financing Warrants held by CSL Properties,
Inc., an entity that is wholly owned by Christos B. Shaw, the son of Kirk Shaw, less 1,575,000 shares due to limitation upon exercise
or conversion in excess of 9.99%. Christos B. Shaw has voting or investment control over the shares held by CSL Properties, Inc. The
address of CSL Properties, Inc. is 133 Keefer Street, Unit 40, Vancouver, BC V6Z 1V8, Canada.

Consists of (a) 500,000 shares of common stock, (b) 240,144 shares of common stock issuable upon the exercise of Series B warrants, (c)
240,144 shares of common stock issuable upon the exercise of Series C warrants, (d) 78,571 shares of common stock issuable upon conversion
pursuant to the convertible promissory note dated March 1, 2021, (e) 157,143 shares of common stock issuable upon conversion
pursuant to the convertible promissory note dated March 1, 2021, (f) 12,571 shares of common stock issuable upon conversion pursuant
to the convertible promissory note dated April 7, 2022, (g) 15,873 shares of common stock issuable upon conversion pursuant to the convertible
promissory note dated January 9, 2023 and (h) 362,000 shares of common stock issuable upon exercise of Series A warrants, less 1,638,000
shares due to limitation upon exercise or conversion in excess of 9.99%. The voting decisions with respect to the securities held by
GPL Ventures, LLC are made by Cosmin Panait. The address of GPL Ventures, LLC is 1 Penn Plaza #6196, New York, NY 10119-0002.

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.

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
$0.0001 per share and 1,000,000 shares of preferred stock, par value of $0.0001 per share, all of which have been designated
as Series A preferred stock. As of the date of this prospectus, 15,712,900 shares of common stock were issued and outstanding
and there were 367,341 shares of Series A preferred stock were issued and outstanding.

Common
Stock

Holders
of shares 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.

Our board has authorized 1,000,000 shares of
Series A convertible preferred stock (“Series A Preferred Stock”) with a par value of $0.0001 per share.

Ranking

The
Series A ranks senior to common stock and any junior securities, on parity with parity securities, and junior to any Senior Securities,
in each case as to dividends or distributions of assets upon liquidation, dissolution, or winding up of the Corporation. The Series A
preferred stock is non-participating.

Dividends

From
the date of issuance until the earlier of the consummation of this offering and conversion of shares of the Series A preferred stock,
each share of Series A preferred stock accrues cumulative dividends at a rate of 10% per annum, payable solely in-kind as additional
shares of Series A preferred stock.

Conversion

Each
share of Series A is convertible into one share of common stock at the option of the holder at any time at a conversion price of $3.20
per share (the “Conversion Price”), subject to equitable adjustment for stock splits, reverse stock splits, stock dividends,
recapitalizations, or similar transactions. Unless approved by the stockholders of the Company, conversion of shares of Series A
preferred stock is limited such that the aggregate number of shares of common stock issuable upon conversion cannot exceed 19.99% of
number shares of common stock outstanding.

Beneficial
Ownership Limitation

Conversion
is subject to a 4.99% beneficial ownership limitation (which may be increased to 9.99% upon 61 days’ written notice).

IPO
Leak-Out Conversion