SEC Filing Document

Company: Ambitious Entertainment, Inc.
Ticker: 
CIK: 1900851
Filing Type: S-1
Document Type: EX-10.5
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/ex10-5.htm

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Exhibit

PROMISSORY
NOTE III

Date:
September 30, 2025

Borrower:	Ambitious
Entertainment Inc of, Vancouver, British Columbia (the “Borrower”)

Lender:	Kirk
Shaw. of, Vancouver, British Columbia (the “Lender”)

Principal
Amount: up to $900,000 USD From time-to-time Lender
will loan funds to borrower on an as needed basis to cover operating expenses and other productions costs. The interest will be calculated
annually based on the balance as of December 31st, 2023, December 31, 2024, December 31, 2025, and December 31, 2026.

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 the note as of the calendar year end in USD. Interest payable will be calculated on the unpaid principal amount at the rate
of 10% per annum, calculated yearly not in advance, beginning on December 31, 2023.

2.	This
Note will be repaid as following: when the company obtains financing through a third party. Once funding is received, 25% of any
financing will be applied to the loan repayment until it is paid in full, or December 31st, 2026, in full.

3.	All
costs and expenses without limitation, including 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 outstanding balance and will immediately be due to the Lender. 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% 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.

6.	This
Note will ensure 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.

the event the Company changes its business structure of the Corporation, the Borrower and the Lender agree to convert this Promissory
Note into a Convertible Promissory Note within 10 days.

Kirk Shaw

By:	/s/ Kirk Shaw

Name:	Kirk Shaw

Ambitious
Entertainment Inc.

By:	/s/ Kirk Shaw

Name:	Kirk Shaw

Title:	CEO