v3.26.1
RELATED PARTY OWNERSHIP AND RELATED PARTY TRANSACTIONS
6 Months Ended
Jun. 30, 2026
RELATED PARTY OWNERSHIP AND RELATED PARTY TRANSACTIONS  
RELATED PARTY OWNERSHIP AND RELATED PARTY TRANSACTIONS

NOTE 22 – RELATED PARTY OWNERSHIP AND RELATED PARTY TRANSACTIONS

 

a)

Related Party Ownership

 

 

As of June 30, 2026, Padang Padang, Ltd (Padang) owned 2,000,000 shares of the Company’s Preferred Stock Series A and 50,000 shares of Preferred Stock Series B. Therefore, Padang controls, on a fully diluted and fully converted basis, an aggregate of 62,500,000 voting rights representing 80% of the Company’s total voting power.

 

Accordingly, Padang has the ability to significantly influence or determine the outcome of matters submitted to a vote of the Company’s stockholders, including the election of directors and significant corporate transactions.

 

b)

Related Party Transactions

 

 

i)

On September 6, 2024 and as more fully described in Note 17(b), Shareholder Equity (Deficit) - Financing Activities - During the year ended December 31, 2024 (vi), the Company entered into a consulting agreement with Padang, the Company’s majority shareholder a related party, for a one-year period wherein the Company agreed to provide compensation to Padang in the form of the issuance of 50,000 shares of Preferred Stock Series B.

 

 

 

 

ii)

On October 28, 2025 and as more fully described in Note 16, Commitments and Contingencies, and Note 17(b), Shareholder Equity (Deficit) - Financing Transactions, the Company entered into a consulting agreement with Padang for a one-year period wherein the Company agreed to compensate Padang $20,000 per month and issue 1,600,000 shares of Preferred Stock Series A.

 

 

 

 

iii)

On October 30, 2025 and as more fully described in Note 3, Acquisitions and Dispositions, and Note 17(b), Shareholder Equity (Deficit) - Financing Transactions, the Company issued 10,000 shares of Preferred Stock Series B to a related party, the Company’s President and CEO, as compensation for services performed in connection with the acquisition of the Opsec business.

 

 

 

 

iv)

On April 13 and 30, 2026 and as more fully described in Note 11, Notes Payable Due To Related Party, Sentinel issued two promissory notes in the total principal amount of $65,000 to the Company’s President and CEO.