DEBT (Tables)

3 Months Ended

Mar. 31, 2025

	Date Issued		Maturity Date		Interest Rate			Balance 12/31/2024			Additions			Conversions/ Payments			Balance 3/31/2025			Conversion Terms
Christopher Whitcomb	7/7/2016		7/7/2017			18	%	$	2,393		$	-		$	-		$	2,393			(1	)
Christopher Whitcomb	1/25/2017		1/25/2018			18	%	$	29,050		$	-		$	-		$	29,050			(1	)
Christopher Whitcomb	5/30/2017		5/30/2018			18	%	$	32,640		$	-		$	-		$	32,640			(1	)
Kanno Group Holdings ll Ltd	10/1/2019		10/1/2020			12	%	$	42,601		$	-		$	(42,601	)	$	-		$	0.00466
Kanno Group Holdings ll Ltd	1/6/2020		1/6/2021			12	%	$	14,977		$	-		$	(14,977	)	$	-		$	0.00615
Kanno Group Holdings ll Ltd	6/30/2020		6/30/2021			12	%	$	7,732		$	-		$	-		$	7,732		$	0.00615
Kanno Group Holdings ll Ltd	12/31/2020		12/31/2021			12	%	$	9,527		$	-		$	-		$	9,527		$	0.00185
Kanno Group Holdings ll Ltd	3/31/2021		3/31/2022			12	%	$	5,112		$	-		$	-		$	5,112		$	0.00628
Kanno Group Holdings ll Ltd	7/24/2021		7/24/2022			12	%	$	5,406		$	-		$	-		$	5,406		$	0.00603
Kanno Group Holdings ll Ltd	11/1/2021		11/1/2022			12	%	$	2,828		$	-		$	-		$	2,828		$	0.00544
Kanno Group Holdings ll Ltd	12/31/2021		12/31/2022			12	%	$	37,391		$	-		$	-		$	37,391		$	0.00509
Kanno Group Holdings ll Ltd	3/31/2022		3/31/2023			12	%	$	7,606		$	-		$	-		$	7,606		$	0.00222
Kanno Group Holdings ll Ltd	4/25/2022		4/25/2023			12	%	$	50,000		$	-		$	-		$	50,000		$	0.00206
Kanno Group Holdings ll Ltd	7/12/2022		7/12/2023			12	%	$	2,388		$	-		$	-		$	2,388		$	0.00163
Kanno Group Holdings ll Ltd	11/3/2022		11/3/2023			12	%	$	11,357		$	-		$	-		$	11,357		$	0.00167
Kanno Group Holdings ll Ltd	12/31/2022		12/31/2023			12	%	$	6,407		$	-		$	-		$	6,407		$	0.00096
Kanno Group Holdings ll Ltd	3/31/2023		3/31/2024			12	%	$	13,312		$	-		$	-		$	13,312		$	0.00054
Kanno Group Holdings ll Ltd	6/30/2023		6/30/2024			12	%	$	89,038		$	-		$	-		$	89,038		$	0.00084
Kanno Group Holdings ll Ltd	9/30/2023		9/30/2024			12	%	$	36,230		$	-		$	-		$	36,230		$	0.00042
Kanno Group Holdings ll Ltd	12/31/2023		9/30/2024			12	%	$	19,726		$	-		$	-		$	19,726		$	0.00035
Kanno Group Holdings ll Ltd	3/31/2024		3/31/2025			n/a		$	9,918		$	-		$	-		$	9,918		$	0.0003
Kanno Group Holdings ll Ltd	6/30/2024		6/30/2025			n/a		$	67,584		$	-		$	-		$	67,584		$	0.00117
ChainTrade, Ltd	5/30/2024		11/30/2025			5	%	$	8,000,000		$	-		$	(8,000,000	)	$	-		$	1.00
Proactive Capital Partners	7/1/2024		demand			10	%	$	35,000		$	-			-		$	35,000		$	0.002
Kanno Group Holdings ll Ltd	9/30/2024		9/30/2025			n/a		$	48,845		$	-		$	-		$	48,845		$	0.0011
Proactive Capital Partners	11/12/2024		8/1/2025			10	%	$	15,000		$	-		$	-		$	15,000		$	0.001
Red Road Holdings Corp	12/6/2025		9/15/2024			12	%	$	51,000		$	-		$	-		$	51,000		$	(2	)
Kanno Group Holdings ll Ltd	12/31/2024		12/31/2025			n/a		$	35,824		$	-		$	-		$	35,824		$	0.00066
Stuart Haley*	1/7/2025		1/7/2027			5	%	$	-		$	2,000,000		$	-		$	2,000,000		$	1.00
Red Road Holdings Corp	1/9/2025		10/30/2025			12	%	$	-		$	56,000		$	-		$	56,000		$	0.0003
Red Road Holdings Corp	3/11/2025		12/30/2025			12	%	$	-		$	48,000		$	-		$	48,000		$	0.0003
Kanno Group Holdings ll Ltd	3/31/2025		3/31/2026			n/a		$	-		$	26,133		$	-		$	26,133		$	0.00072
								$	8,688,892		$	2,130,133		$	(8,057,578	)	$	2,761,447
																		-
Kanno Group Holdings ll Ltd – accrued interest		n/a		n/a		n/a		$	72,228		$	8,997		$	(28,901	)	$	52,324
Other accrued interest		n/a		n/a		n/a		$	309,272		$	101,498		$	(306,942	)	$	103,828
Less discount								$	(5,333	)	$	(1,665,752	)	$	-		$	(1,671,085	)
Total convertible debt and accrued interest								$	9,065,059		$	574,876		$	(8,393,421	)	$	1,246,514

Summary of the convertible notes principal outstanding

	March 31, 2025			December 31, 2024
Total convertible notes, principal outstanding	$	2,761,447		$	688,892
Less: unamortized debt discount		(1,671,085	)		(5,333	)
Convertible notes - net of debt discount	$	1,090,362		$	683,559

Summary of the convertible notes abandoned acquisition

	March 31, 2025		December 31, 2024
Convertible notes, principal - abandoned acquisition	$	-	$	8,000,000
Convertible notes, accrued interest - abandoned acquisition		-		235,617
Convertible notes and interest - abandoned acquisition	$	-	$	8,235,617

Schedule of derivative liabilities at fair value

	Derivative
	Liability
Balance at December 31, 2024	$	126,544
Derivative loss due to mark to market adjustment		69,572
Balance at March 31, 2025	$	196,116

Schedule of defined benefit plan, assumptions

Inputs	March 31, 2025		December 31, 2024		Initial Valuation
Stock price	$	0.0019	$	0.0015	$0.006 - $0.0115
Conversion price	$0.0007 - $0.0008		$0.0007 - $0.0008		$0.0016 - $0.0098
Volatility (annual)	171.84%-213.52%		145.76% - 213.52%		163.53% - 214.94%
Risk-free rate	4.32% - 4.24%		4.73% - 4.24%		0.39% - 1.55%
Dividend rate		-		-		-
Years to maturity	0.25 - 0.51		0.25 - 0.51			1

SMC Entertainment, Inc. 10-Q