Sentient Brands Holdings Inc. Files 10-Q

TL;DR

Sentient Brands Holdings Inc. filed its Q2 2024 10-Q. Financials are in.

AI Summary

Sentient Brands Holdings Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as Intelligent Buying, Inc., is incorporated in Nevada and operates in the retail computer and software stores sector. Its principal executive offices are located at 590 Madison Ave, New York, NY.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Sentient Brands Holdings Inc. for the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine filing of a 10-Q report, which is standard for publicly traded companies and does not inherently indicate new risks.

Key Players & Entities

• SENTIENT BRANDS HOLDINGS INC. (company) — Filer
• Intelligent Buying, Inc. (company) — Former company name
• 20240630 (date) — Reporting period end date
• 20240819 (date) — Filing date
• 590 MADISON AVE (location) — Business and mail address
• NEW YORK (location) — City for business and mail address
• NV (location) — State of incorporation

FAQ

Key Financial Figures

• $0.001 — 0,518 shares of common stock, par value $0.001 per share, were issued and outstanding.

Filing Documents

• e5868_10q.htm (10-Q) — 488KB
• e5868_ex31-1.htm (EX-31.1) — 12KB
• e5868_ex31-2.htm (EX-31.2) — 12KB
• e5868_ex32.htm (EX-32) — 6KB
• 0001731122-24-001287.txt ( ) — 2707KB
• snbh-20240630.xsd (EX-101.SCH) — 22KB
• snbh-20240630_cal.xml (EX-101.CAL) — 27KB
• snbh-20240630_def.xml (EX-101.DEF) — 70KB
• snbh-20240630_lab.xml (EX-101.LAB) — 211KB
• snbh-20240630_pre.xml (EX-101.PRE) — 168KB
• e5868_10q_htm.xml (XML) — 241KB

- FINANCIAL INFORMATION

PART I. - FINANCIAL INFORMATION 1 Item 1.

Financial Statements

Financial Statements 1 Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 1 Unaudited Consolidated Statements of Operations and Comprehensive Loss for the three and six months ended June 30, 2024 and 2023 2 Unaudited Consolidated Statement of Changes in Stockholders' Equity for the six months ended June 30, 2024 and 2023 3 Unaudited Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 4 Notes to Unaudited Consolidated Financial Statements June 30, 2024 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 19 Item 4

Controls and Procedures

Controls and Procedures 20

- OTHER INFORMATION

PART II - OTHER INFORMATION 22 Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3. Defaults upon Senior Securities 23 Item 4. Mine Safety Disclosures 23 Item 5. Other Information 23 Item 6. Exhibits 23

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS This report contains forward-looking statements regarding our business, financial condition, results of operations and prospects. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements but are not deemed to represent an all-inclusive means of identifying forward-looking statements as denoted in this report. Additionally, statements concerning future matters are forward-looking statements. Although forward-looking statements in this report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by us. Consequently, forward-looking statements are inherently subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in or anticipated by the forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, without limitation, those specifically addressed under the headings "Risks Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our annual report on Form 10-K, in "Management's Discussion and Analysis of Financial Condition and Results of Operations" in this Form 10-Q and information contained in other reports that we file with the SEC. You are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. We file reports with the SEC. The SEC maintains a website (www.sec.gov) that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC, including us. You can also read and copy any materials we file with the SEC at the SEC's Public Reference Room at 100 F Street, NE, Washington, DC 20549. You can obtain additional information about th

Financial Statements

Item 1. Financial Statements. SENTIENT BRANDS HOLDINGS INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS June 30, 2024 December 31, 2023 Unaudited Audited ASSETS CURRENT ASSETS Cash $ 1,633 $ 1,299 Prepaid expenses 1,560 8,453 Inventory 150,000 150,000 TOTAL CURRENT ASSETS 153,193 159,752 FIXED ASSETS (net of Depreciation) 21,804 23,742 TOTAL ASSETS $ 174,997 $ 183,494 LIABILITIES AND STOCKHOLDERS' DEFICIENCY CURRENT LIABILITIES Accounts payable and accrued expenses $ 709,175 $ 725,066 Subscriptions payable 85,000 — Notes payable 544,691 533,191 Convertible Notes Payable 809,047 859,047 TOTAL CURRENT LIABILITIES 2,147,913 2,117,304 TOTAL LIABILITIES $ 2,147,913 $ 2,117,304 STOCKHOLDERS' DEFICIENCY Preferred Stock – Par Value of $ 0.001 ; 25,000,000 shares authorized; 1,000,000 shares issued and outstanding as of June 30, 2024 and December 31, 2023 1,000 1,000 Common Stock - Par Value of $ 0.001 ; 500,000,000 shares authorized; 64,370,518 and 56,140,518 shares issued and outstanding as of June 30, 2024 and December 31, 2023 64,371 56,141 Common Stock to be issued 68,054 — Additional paid-in capital 2,068,947 1,542,429 Accumulated deficit ( 4,175,288 ) ( 3,533,380 ) TOTAL STOCKHOLDERS' DEFICIENCY ( 1,972,916 ) ( 1,933,810 ) TOTAL LIABILITIES & STOCKHOLDERS' DEFICIENCY $ 174,997 $ 183,494 The accompanying notes are an integral part of these unaudited consolidated financial statements. 1 SENTIENT BRANDS HOLDINGS INC. CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) Three months ended June 30 Six months ended June 30 2024 2023 2024 2023 Sales $ — $ — $ — $ 150 Cost of sales — 3,600 — 7,830 Gross profit (loss) — ( 3,600 ) — ( 7,680 ) Operating expenses: Advertising and marketing — 453 — 988 General and administrative 16,074 21,763 23,960 26,487 Legal and professional 52,595 22,000 368,878 47,900 Management fees 92,500 — 121,

View Full Filing

View this 10-Q filing on SEC EDGAR