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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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

The
authorized but unissued shares of our common stock and preferred stock are available for future issuance without stockholder approval,
subject to any limitations imposed by the listing standards of the NYSE American and the Nevada Revised Statutes. These
additional shares may be used for a variety of corporate finance transactions, acquisitions, and employee benefit plans. The existence
of authorized but unissued and unreserved common stock and preferred stock could make more difficult or discourage an attempt to obtain
control of us by means of a proxy contest, tender offer, merger or otherwise.

Options

of _____________, 2025, there were [●] shares of our common stock issuable upon exercise of outstanding stock options pursuant
to our equity plans with a weighted average exercise price of $[●] per share.

Anti-Takeover
Matters

Anti-Takeover
Effects of Certain Provisions of Nevada Law

are subject to Section 78.438 of the Nevada Revised Statutes (NRS), an anti-takeover law. In general, Section 78.438 prohibits a Nevada
corporation from engaging in any business combination with any interested stockholder for a period of two years following the date that
the stockholder became an interested stockholder, unless prior to that date, the board of directors of the corporation approved either
the business combination or the transaction that resulted in the stockholder becoming an interested stockholder, or if after the date
that the stockholder becomes an interested stockholder the business combination is approved by the board of directors and by 60% of the
voting power of all disinterested stockholders at either an annual or special meeting of the stockholders of the corporation. Section
78.439 provides that business combinations after the two-year period following the date that the stockholder becomes an interested stockholder
may also be prohibited unless either approved by the corporation’s directors before the stock acquisition, or by a majority of
the disinterested stockholders or unless the price and terms of the transaction meet other criteria set forth in the statute.

Section
78.416 of the NRS defines “business combination” to include the following:

●	any
merger or consolidation involving the corporation and the interested stockholder or any other
corporation which is an affiliate or associate of the interested stockholder;

●	any
sale, transfer, pledge or other disposition of the assets of the corporation involving the
interested stockholder or any affiliate or associate of the interested stockholder if the
assets transferred have a market value equal to 5% or more of all of the assets of the corporation
or 5% or more of the value of the outstanding shares of the corporation or represent 10%
or more of the earning power of the corporation;

○	subject
to certain exceptions, any transaction that results in the issuance or transfer by the corporation
of any stock of the corporation to an interested stockholder, with a market value of 5% or
more of the value of the outstanding shares of the corporation;

○	the
adoption of a plan of liquidation proposed by or under any arrangement with the interested
stockholder or any affiliate or associate of the interested stockholder;

○	any
transaction involving the corporation that has the effect of increasing the proportionate
share of the stock of any class or series of voting shares of securities convertible into
voting shares of the corporation beneficially owned by the interested stockholder or any
affiliate or associate of the interested stockholder; or

○	the
receipt by the interested stockholder or any affiliate or associate of the interested stockholder
of the benefit, except proportionately as a stockholder of the corporation, of any loans,
advances, guarantees, pledges or other financial benefits provided by or through the corporation.

general, Section 78.423 of the NRS defines an interested stockholder as any entity or person beneficially owning, directly or indirectly,
10% or more of the outstanding voting stock of the corporation and any entity or person affiliated with or controlling or controlled
by any of these entities or persons.

Control
Share Acquisitions