Company: AHRO
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001477932-25-003767
Chunk: 61

Company: Authentic Holdings, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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 and December 31, 2024 amounted to $40,193 and $39,568, respectively. Related Party Loans The Company received a loan from its’ CEO Paul Serbiak totaling $210,534. The loan has no stated annual interest rate, but the Company records interest at the annual rate of 3.5%. Accrued interest payable on March 31, 2025 and December 31, 2024 amounted to $73,134 and $71,291, respectively. The Company recorded interest expense of $1,842 during the three months ended March 31, 2025 and 2024, respectively.  Balances of all loans due to related parties as of March 31, 2025:   Principal  Accrued Interest  Total Promissory note - related party $447,150  $78,577  $525,727 Convertible notes – Related party  50,000   40,193   90,193 Related Party Loans  210,533   73,134   283,667 Total Related Parties Loans  707,683   191,904  $899,587  Balances of all loans due to related parties as of December 31, 2024:   Principal  Accrued Interest  Total Promissory note - related party $447,150  $75,224  $522,374 Convertible notes – Related party  50,000   39,568   89,568 Related Party Loans  210,533   71,292   281,825 Total Related Parties Loans  707,683   186,084  $893,767  On March 31, 2025, related party loans with a face value of $447,150 were in default. On March 13, 2025, the Company entered into a Debt Exchange Agreements with each of Chris Giordano, our President and Director, and Paul Serbiak, our Chief Executive Officer and Director, pursuant to which they converted an aggregate of $2,000,000 in debt held by the Company. Under his Debt Exchange Agreement, Mr. Giordano shall convert up to a total of $1,500,000 in debt into fifty thousand nine hundred and ten (50,910) shares of our newly created Series E Preferred Stock