Company: AHRO
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001477932-25-006087
Chunk: 134

Company: Authentic Holdings, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 2
Chunk 134
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 Stock  15,000   - Proceeds from advances from related parties  20,000   14,831 Proceeds from promissory notes  -   90,480 Proceeds from secured promissory notes  -   72,500 Repayment of secured promissory notes  (14,000)  - Proceeds from convertible notes, net of cash discounts  50,000   100,000 Repayments of advances from related parties  (56,198)  (68,819)Repayment of promissory notes  (2,000)  (42,500)Repayment of convertible notes  (19,500)  (44,750)Debt issuance cost  5,600   -   $(858) $120,116 

Going Concern

The accompanying financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. 

We have incurred losses since inception, resulting in accumulated deficits of $40,383,043 and $39,358,905 at June 30, 2025 and December 31, 2024, respectively, a working capital deficit of $6,231,539 and $5,324,664 as of June 30, 2025 and December 31, 2024, respectively, and future losses are anticipated. We also have debt that is currently in default. These factors, among others, raise substantial doubt about our ability to continue as a going concern.

The ability of our company to continue our operations as a going concern is dependent on management’s plans, which include the raising of capital through debt and/or equity markets with some additional funding from other traditional financing sources, including term notes, until such time that funds provided by operations are sufficient to fund working capital requirements.

Limited Operating History; Need for Additional Capital

There is no historical financial information about us upon which to base an evaluation of our performance. We are a development stage company and have only recently generated revenues from operations. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including high debt, limited capital resources and competition from larger organizations. We will require equity and/or debt financing to provide for the capital required to implement our plans. We will require additional funds to operate for