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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and expenses [*] Transfer agent and registrar fees and expenses [*] Miscellaneous expenses [*] Total $ [*] To be completed by amendment. Item 14. Indemnification of Directors and Officers Ambitious Entertainment Inc. is incorporated under the law of the State of Nevada. Neither our articles of incorporation nor bylaws prevent us from indemnifying our officers, directors and agents to the extent permitted under the Nevada Revised Statutes (“NRS”). Section 78.7502 of the NRS provides that a corporation shall indemnify any director, officer, employee or agent of a corporation against expenses, including attorneys’ fees, actually and reasonably incurred by him in connection with any defense to the extent that a director, officer, employee or agent of a corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in Section 78.7502(1) or 78.7502(2), or in defense of any claim, issue or matter therein.

Section
78.7502(1) of the NRS provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party
to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, except
an action by or in the right of the corporation, by reason of the fact that he is or was a director, officer, employee or agent of the
corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise, against expenses, including attorneys’ fees, judgments, fines and amounts
paid in settlement actually and reasonably incurred by him in connection with the action, suit or proceeding if he: (a) is not liable
pursuant to NRS 78.138; or (b) acted in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests
of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful.

Section
78.7502(2) of the NRS provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party
to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason
of the fact that he is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation
as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses,
including amounts paid in settlement and attorneys’ fees actually and reasonably incurred by him in connection with the defense
or settlement of the action or suit if he: (a) is not liable pursuant to NRS 78.138; or (b) acted in good faith and in a manner which
he reasonably believed to be in or not opposed to the best interests of the corporation. Indemnification may not be made for any claim,
issue or matter as to which such a person has been adjudged by a court of competent jurisdiction, after exhaustion of all appeals there
from, to be liable to the corporation or for amounts paid in settlement to the corporation, unless and only to the extent that the court
in which the action or suit was brought or other court of competent jurisdiction determines upon application that in view of all the
circumstances of the case, the person is fairly and reasonably entitled to indemnity for such expenses as the court deems proper.

Section
78.747 of the NRS provides that except as otherwise provided by specific statute, no director or officer of a corporation is individually
liable for a debt or liability of the corporation, unless the director or officer acts as the alter ego of the corporation. The court,
as a matter of law, must determine the question of whether a director or officer acts as the alter ego of a corporation.

Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us
pursuant to the foregoing provisions, we have been informed that, in the opinion of the SEC, such indemnification is against public policy
as expressed in the Securities Act and is therefore unenforceable. In the event that a claim for indemnification against such liabilities
(other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant
in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection
with the securities being registered, we will, unless in the opinion of our counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such indemnification by us is against public policy as expressed hereby
in the Securities Act and we will be governed by the final adjudication of such issue.

Under
our amended and restated articles of incorporation and amended and restated bylaws, we may indemnify an officer or director
who is made a party to any proceeding, including a lawsuit, because of his position, if he acted in good faith and in a manner, he reasonably
believed to be in our best interest. We may advance expenses incurred in defending a proceeding. To the extent that the officer or director
is successful on the merits in a proceeding as to which he is to be indemnified, we must indemnify him against all expenses incurred,
including attorney’s fees. With respect to a derivative action, indemnity may be made only for expenses actually and reasonably
incurred in defending the proceeding, and if the officer or director is judged liable, only by a court order. The indemnification is
intended to be to the fullest extent permitted by the law of the State of Nevada.

Item
15. Recent Sales of Unregistered Securities

Common
Stock Issued to Pursuant to Regulation S

During
the year ended December 31, 2023, the Company issued 500,000 shares of common stock 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 (i) 25,000 shares of common stock for aggregate cash proceeds of $2,500 and (ii)
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 the related subscription receivable as the administrative costs of collection
exceeded the amount due.

Convertible
Promissory Notes

During
the period from January 1, 2023 through December 31, 2025, the Company issued convertible promissory notes to accredited investors in
reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities
Act”), and Rule 506(b) of Regulation D promulgated thereunder.

The
aggregate principal amount outstanding under all convertible promissory notes issued by the Company as of December 31, 2025 was $2,250,729,
which includes notes originally issued during the period from March 2021 through December 2025. The convertible promissory notes are
convertible into an aggregate of 1,150,365 shares of the Company’s common stock upon the occurrence of certain events, including
qualified financing, at conversion prices and on other terms set forth in the applicable note agreements.

Warrants
Issued in Connection with Convertible Promissory Notes

connection with the issuance of the convertible promissory notes described above, during the period from January 1, 2023, through December
31, 2025, the Company issued Series B warrants to purchase an aggregate of 1,045,566 shares of common stock and Series C warrants to
purchase an aggregate of 1,045,566 shares of common stock. The Series B and Series C warrants were issued without separate consideration
and are exercisable on the terms set forth in the applicable warrant agreements.

These
issuances were made in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act.

Series
A Warrants

During
the period from January 1, 2023 through December 31, 2025, the Company issued Series A warrants to purchase an aggregate of 4,000,000
shares of the Company’s common stock to accredited investors. The Series A warrants are exercisable on the terms set forth in the
applicable warrant agreements and were issued in reliance upon Section 4(a)(2) of the Securities Act.

Bridge Financing