Company: AHRO
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001477932-25-002774
Chunk: 1175

Company: Authentic Holdings, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 1A
Chunk 1175
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 company with funds for our payment obligations. If there is an insolvency, liquidation or other reorganization of any of our subsidiaries, our shareholders will have no right to proceed against their assets. Creditors of those subsidiaries will be entitled to payment in full from the sale or other disposal of the assets of those subsidiaries before our company, as a shareholder, would be entitled to receive any distribution from that sale or disposal.

Risks Related Our Securities

The outstanding shares of our Class B Convertible Preferred Stock preclude current and future owners of our common stock from influencing any corporate decision. Our President, Christopher Giordano, and our CEO, Paul Serbiak, own all of the 400,000 outstanding shares of our Class B Convertible Preferred Stock. The Class B Convertible Preferred Stock has the following voting rights: each share of Class B Convertible Preferred Stock votes together with our common stock as a single class and is entitled to 10,000 votes per share. Mr. Giordano and Mr. Serbiak will, therefore, be able to control the management and affairs of our company, as well as matters requiring the approval by our shareholders, including the election of directors, any merger, consolidation or sale of all or substantially all of our assets, and any other significant corporate transaction. (See “Security Ownership of Certain Beneficial Owners and Management”).

We have established preferred stock, which our Board of Directors can designate and issue without shareholder approval. We have, outstanding 685,442 shares of preferred stock, with 400,000 shares as Series B Convertible Preferred Stock, 100,000 shares as Series C Preferred Stock, 100,000 shares as Series D Preferred stock, 80,000 shares of Series E Preferred Stock, and 5,442 shares of Series Z Preferred Stock.  We have, remaining, 314,558 shares of preferred stock authorized but undesignated. These shares of undesignated preferred stock may be issued by our Board of Directors from time to time, in one or more series, each series of which shall have such voting powers, full or limited, or no voting powers, and such preferences and relative, participating, optional or other special rights and such qualifications, limitations or restrictions thereof as adopted by our Board of Directors. Our Board of Directors is able to designate the powers and preferences of any such series of preferred stock without shareholder approval.

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We have  $1,513,737 in currently convertible debt instruments (including accrued and